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Replacing the wife's car: v2: used or lease?


Waylander
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As per other thread of what we've been looking at, I've only ever bought cars outright.

I have scraped together £10-12k to replace our 2004 civic.

BUT what are the pros and cons of getting a 5+2 on lease?

new car of course but I figured it's like a mortgage - I'm forever paying?

ive no idea what monthly costs I'd be looking at for (say)

Kia Sorento

Mitshubishi Outlander

Volvo xc90 (may be too big for her)

Nissan XTrail

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I currently have a lease car as a daily driver & priced it up by looking through "What Car" lease website (google it) I personally am now a convert if I were to be considering new.

Buying outright is OK if you KNOW you are getting the right thing for the right price, which I did for my Cooper S which will be the new track day car when finished.

Yes, you are forever paying, yes it is dead money etc. Have you ever heard of depreciation? Same thing, except you pay for that up front when buying outright. What I am getting at is there is potentially, no real world difference, so you need to cost up both options & see what is best for you and no-one else knows what that is.

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thanks.

in some ways I feel lease vs buy for a new car is easier to weigh up.

as you say I bought my previous Audi new and sold it 10 years later for £2k.

I might one crunch those numbers for interest.

lease new vs buy old is tougher for me to get my head around but good points to ponder.

I'll try to hunt out that website +++

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What does "3 +35" or "6+35" mean?

I am assuming the 35 refers to 35 months (3 years) but don't understand what the 3 or 6 means - I can't see an explanation on the site

Is it now many months of payment you pay upfront (so 3 months down then 35 monthly payments etc)?

Edited by Waylander
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On 23/04/2017 at 6:43 AM, E-bmw said:

I personally am now a convert if I were to be considering new.

Yes, you are forever paying, yes it is dead money etc. Have you ever heard of depreciation? Same thing, except you pay for that up front when buying outright. 

True - when comparing buying new vs lease.

buying used, the first owner has taken the main hit on the depreciation 

Edited by Waylander
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Exactly my point, the other side of the coin being the bit you didn't quote.

 

"Buying outright is OK if you KNOW you are getting the right thing for the right price, which I did for my Cooper S which will be the new track day car when finished."

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:grin:

my sister's woes with her brand new Mini Cooper S might suggest otherwise (but I take your point). 

Still a bit conflicted I confess.

if I can find a deal for £300 all in, I think I'll go for it although the rate of car thefts round our way does worry me about a new car too 

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