Anyone still buying rather than leasing their car?

[Granfondo]

DonkeyApple said:

swisstoni said:

Does this lease fodder mean there is a glut of cheap 3 or 4 year old cars on the market?
Because last time I checked (not that recently, admittedly) I was quite surprised at how much cars of this sort of age were going for.

That would be an interesting area to be looked at as manufacturers are investing in controlling used prices, which is unlikely to be leading to fair value being met. Another concern to have over a finance dominated market resulting in everyone paying more than they need to.

The likes of Mercedes who's PCP deals are very competitive with the monthlies due to the GFV being inflated almost guarantees them the car returned at the end!
The problem with this scenario of low deposit deals means if you want to change early for whatever reason means you are going to be upside down until very late into the deal if at all.

[pits]

Looked at leasing and it didn't work out for us so ended up buying, got a Citigo Monte Carlo....It's quite good fun, I am ashamed to say it.

[anonymous-user]

swerni said:

Just watching a program about the east end slums throughout history.
They talked about how people in the 1870's had to live on credit and how instead of buying a sewing machine ( 5 moths wages) they'd rent one.

All sounds very familiar

Indeed. In today's money the Golf R it would be a "turbo" sewing machine.

[OddCat]

swerni said:

Just watching a program about the east end slums throughout history.
They talked about how people in the 1870's had to live on credit and how instead of buying a sewing machine ( 5 moths wages) they'd rent one.

All sounds very familiar

Blimey. How much did moths earn in those days then ?

Edited by OddCat on Friday 21st October 20:26

[noway]

Ive always bought my cars at approx 5 yrs old hopeing they are still able to give many troublefree miles and in the main this has been the case,bangernomics has never worked for me on the couple of occasions ive tried.

Im currently looking at a new car and deciding between buying new/newish or leasing is a difficult one what with waiting times (lease and new) looking for a replacement at end of term (lease) any slight damage occured (lease) going over mileage allowance (lease) and really liking the car and wanting to keep (lease)..

Think ive decided......nearly new buying outright

Thanks for all your help

Edited by noway on Saturday 22 October 17:31

[mat205125]

DonkeyApple said:

swisstoni said:

Does this lease fodder mean there is a glut of cheap 3 or 4 year old cars on the market?
Because last time I checked (not that recently, admittedly) I was quite surprised at how much cars of this sort of age were going for.

That would be an interesting area to be looked at as manufacturers are investing in controlling used prices, which is unlikely to be leading to fair value being met. Another concern to have over a finance dominated market resulting in everyone paying more than they need to.

From my (admittedly not particularly scientific) observations of the nearly-new-used pricing of cars circa 2-4 years old, pricing generally seems to be prohibitively strong.

My normal target age of used vehicle is the next tier down on the depreciation curve, around 6-9 years old, and if I were to hypothetically target a used purchase in the 2-4 year old age range, I can see why many would prefer to "buy" a brand new vehicle on PCP or lease. Financially the difference is minimal, and there are many advantages of hassle free motoring.

Probably one for another thread (probably already in existence), but I can't be the only one that no longer draws enjoyment from visiting used dealer lots to see what's on offer ...... Mainly because they're crammed full on mono-chrome painted diesel ex-lease vehicles, at too high a price to be attractive.

[swisstoni]

mat205125 said:

DonkeyApple said:

swisstoni said:

Does this lease fodder mean there is a glut of cheap 3 or 4 year old cars on the market?
Because last time I checked (not that recently, admittedly) I was quite surprised at how much cars of this sort of age were going for.

That would be an interesting area to be looked at as manufacturers are investing in controlling used prices, which is unlikely to be leading to fair value being met. Another concern to have over a finance dominated market resulting in everyone paying more than they need to.

From my (admittedly not particularly scientific) observations of the nearly-new-used pricing of cars circa 2-4 years old, pricing generally seems to be prohibitively strong.

My normal target age of used vehicle is the next tier down on the depreciation curve, around 6-9 years old, and if I were to hypothetically target a used purchase in the 2-4 year old age range, I can see why many would prefer to "buy" a brand new vehicle on PCP or lease. Financially the difference is minimal, and there are many advantages of hassle free motoring.

Probably one for another thread (probably already in existence), but I can't be the only one that no longer draws enjoyment from visiting used dealer lots to see what's on offer ...... Mainly because they're crammed full on mono-chrome painted diesel ex-lease vehicles, at too high a price to be attractive.

It's clearly in the interest of dealers to have high used car resale values both for straight profit and, perhaps more importantly, to make leasing seem more attractive than buying lightly used.
But some of these cars must go to auction and escape into the real world surely?

[DonkeyApple]

mat205125 said:

DonkeyApple said:

swisstoni said:

Does this lease fodder mean there is a glut of cheap 3 or 4 year old cars on the market?
Because last time I checked (not that recently, admittedly) I was quite surprised at how much cars of this sort of age were going for.

That would be an interesting area to be looked at as manufacturers are investing in controlling used prices, which is unlikely to be leading to fair value being met. Another concern to have over a finance dominated market resulting in everyone paying more than they need to.

From my (admittedly not particularly scientific) observations of the nearly-new-used pricing of cars circa 2-4 years old, pricing generally seems to be prohibitively strong.

My normal target age of used vehicle is the next tier down on the depreciation curve, around 6-9 years old, and if I were to hypothetically target a used purchase in the 2-4 year old age range, I can see why many would prefer to "buy" a brand new vehicle on PCP or lease. Financially the difference is minimal, and there are many advantages of hassle free motoring.

Probably one for another thread (probably already in existence), but I can't be the only one that no longer draws enjoyment from visiting used dealer lots to see what's on offer ...... Mainly because they're crammed full on mono-chrome painted diesel ex-lease vehicles, at too high a price to be attractive.

I think there is a clear argument to be discussed that manufacturers have invested in bringing the used network firmly under their control in the last decade so as to control supply and demand to maximise profits and as the bulk of the front end profit comes from selling finance then what we are seeing is a market being controlled to ensure the highest amount of finance possible is sold. And the big point that as it is no longer a free market then with any market where supply and demand is essentially managed by the corporate the consumer at all levels ends up paying more than necessary.

[neil1jnr]

Leasing is great if you can get a really good deal, my Fiesta ecoboost 140 only costs my £155 a month, 10k per anum and 1+23. Does the job for commuting, on the other hand my other car is bought and won't depreciate.

There is no right or wrong, everyone has an opinion and knows what suits them best for their circumstances.

Leasing/PCP/personal loan/cash, who cares.