Edit: price increased by £5 per month (previously, and advertised as £258.32 per month / £9299.61), but recent quote noted £5 price increase.
Mitsubishi Outlander 2.2 DI-D 3 lease.
This is a very low cost lease deal for a 7 seater.
10k miles per year, 36 month lease.
£719.96 inc VAT upfront + £180 inc VAT admin fee.
35x monthly payments of £239.99
Total £9,299.61 over 36m = £258.32 per month
Comes with rear parking sensors, climate control, cruise control, bluetooth.
Not an outstanding car and won't be the best fuel economy but this is a good price for a 7 seater 4x4 with fair performance.
Please post if you find better!
Why lease and not buy? Well:
- Assume new cost of this car £25k (list £28k)
- Assume value in 3 years 30k miles is £15k (see Autotrader, and assume less for private seller)
- Depreciation = £10,000
- Opportunity cost of £25k over 3 years @ 4% pa is ~£3k
- Or, if you're borrowing, factor in an extra ~£3k or so for borrowing costs
£10k depreciation + £3,000 finance cost / 36m = £361 per month, which is a lot more than £258.32 per month.
Edit: price has gone up by £5 per month based on a quote I have received.
New totals: £736.14 upfront + £180 admin fee, 35x £245.38 = £9504.44 total / £264.01 per month all in.