Buy or lease new?

[gaz1234]

Like to know know what most people do..

[Rawwr]

I don't understand half the options.

[fatboy b]

All depends on the finance offer, how much cash you have in the bank, how much spare cash you have each month, the car's residual value after the finance, any balloon payable. So just putting those options up means nothing really.

Edited by fatboy b on Saturday 26th October 17:44

[soda]

Saved a few quid, went out and bought.

Seriously contemplating a cheap lease for a daily driver soon, as yet undecided.

[Cemesis]

I just can't bring myself to lease. I know it can make financial sense but I prefer to pay the upfront cost and then just worry about putting fuel in it. Plus its 'mine' at the end of the day.

[daemon]

Interesting results already.

Firstly, very few people are paying cash for cars over £20K.

Those that are paying cash tend to be sticking below £10,000.

[gaz1234]

Rawwr said:

I don't understand half the options.

Oh dear...

[kambites]

Rawwr said:

I don't understand half the options.

I can manage a little over half, but I'm not entirely sure what the last two mean.

[M4cruiser]

I'm a "used car" person.

Had enough new cars that went wrong.

(Apologies for useless comment!)

[gaz1234]

kambites said:

I can manage a little over half, but I'm not entirely sure what the last two mean.

Lease new car then after lease is up re-lease. Simples

[750turbo]

What about PCP options?

[kambites]

gaz1234 said:

kambites said:

I can manage a little over half, but I'm not entirely sure what the last two mean.

Lease new car then after lease is up re-lease. Simples

Ah OK.

[anonymous-user]

Save up for a decent house instead. Laughable how many starter homes I see with 30k cars outside.

[gaz1234]

Most are driving sheds

[daemon]

wormus said:

Save up for a decent house instead. Laughable how many starter homes I see with 30k cars outside.

Maybe their priorities in life are different than yours.

Doesnt make yours right or theirs wrong does it?

[Riknos]

wormus said:

Save up for a decent house instead. Laughable how many starter houses I see with 30k cars outside.

Little bit more complicated than that. You can save up all the cash you want for a deposit, but if a bank is only lending you 4.5 times your salary, you haven't got much choice unless you're earning £50k+!

[gaz1234]

I have done the 1st option, thinking of last one...

[Emeritus]

Paid outright for my current car, had it for a few years now so not worth a great deal.

When I change in the new year will pay outright again.

Have tried HP in the past (many, many moons ago) never really suited my circumstances.

Whatever works for you though!

[gaz1234]

swerni said:

None of the above

Crap poll is crap

Not really

[decadent]

Interesting (and thought as much with this being PH), most seem to like to "own" their cars.

I voted loan 10-20k and didn't consider PCP or Leasing when purchasing as I was worried about not owning at the end should circumstances change and being hit for mileage charges should I chose to tour Europe or something.

Recently I had a wobble and considered PCP on an Octavia VRS but decided against as 12K is a lot of cash to find (for a car, would rather lop it off the mortgage or put towards stamp on another house) at the end of the policy if I wanted to keep it and the alternative (new PCP agreement) meant I'd be locked into another PCP/Lease agreement again. I don't want to be locked into finance agreements and wouldn't want to "downgrade" so I'm out.