Car Leasing

[anonymous-user]

A friend who knows nothing about finance wants to get a new cheap reliable car. Wants new or peace of mind and inclusive servicing.

She cannot make a purchase so has to finance.

What would be most appropriate form of finance for her (lease, contract hire etc) if she wants the ability to change the car at any time if her financial situation changes?

Thanks.

[DarylB90]

PCP would be her best bet.
With leasing you are stuck in a contract for 2, 3 or 4 years.
If flexibility is most important then go down the pcp route.
You can change whenever you like however if you have only put a small deposit down then you will probably be in negative equity for the first 2 thirds of the term.

[anonymous-user]

Many thanks for that - it is really appreciated.

I'll pass the information on.

[cslwannabe]

I've seen lease deals as short as 12 months - C1 was on offer for around £1200 including vat for a 12 month deal.

[IanCress]

If she wants the ability to change the car at any time, then perhaps a bank loan would be the best option. The car is not then tied to the finance, and can be liquidated at any point.

Depending on her credit score, loans are available as low as 3.6% at the moment.