Car - Lease or buy used?

10
Posted 29th May
Hi, just wanted a bit of advice. I currently have a Nissan Leaf on PCP which I've had at £185/month for 3 years 12,000 miles per month. It's coming to an end and I don't want to pay the lump sum to buy it. There don't seem to be any electric car deals out there anywhere near as good. What do you think, lease a cheaper petrol car and increased fuel cost, pay more to lease or PCP an electric, Leaf or Zoe or buy a cheaper used petrol or hybrid car? Finance and safety of car are important to me as have young kids. Any advice would be welcomed, thank you!
Community Updates
Ask
10 Comments
Totally depends on your needs, how many miles you do, if you pay for your fuel/electricity etc.

For someone that does a lot lot lot of miles an electric car makes sense, but for someone just doing school runs and shopping not so much when they can buy outright a cheaper car.
ive recently ordered my fifth lease - lower payments than PCP and HP would be - total payments a lot less than the depreciation would be had I bought it

the key is how it will depreciate if you buy it versus the overall lease cost + dont listen to the people on here who will start the "you never own it when you lease" carry on as most people on PCP or HP never own it either as they trade in as soon as its paid
Edited by: "jase.2" 29th May
PenguinsForAll29/05/2020 20:51

Totally depends on your needs, how many miles you do, if you pay for your …Totally depends on your needs, how many miles you do, if you pay for your fuel/electricity etc.For someone that does a lot lot lot of miles an electric car makes sense, but for someone just doing school runs and shopping not so much when they can buy outright a cheaper car.


Think you have got that the wrong way round.
Thanks, yes I have done the whole 12000 miles/year for last 3 years but bit less sure about going forward as may be a bit more working from home aswell. It's mostly for my commute as wife has a bigger family car for weekends trips away etc. Yes I charge at home every night and would have to pay for fuel or electricity myself.
I guess it also depends on how safe your finances are currently and going forward (job being the main concern in the current climate) personally for piece of mind I would lease. Chances are with showrooms/factories opening etc some deals to be had too I would imagine.
Job pretty secure, I work for NHS and private health company. Keeping an eye out for good lease or PCP deals but nothing close to what I got 3 years ago.
should also check what the penalty is incase need to cancel the contract .
Only you can decide what you want to do, everyone will have different advice...

buy a diesel car, more miles to the gallon..
lopezrich29/05/2020 22:56

Job pretty secure, I work for NHS and private health company. Keeping an …Job pretty secure, I work for NHS and private health company. Keeping an eye out for good lease or PCP deals but nothing close to what I got 3 years ago.


Even the cheapest all electric car lease deals with 12000 miles are likely to come in around £250 per month. As you say, a big increase. However, that sort of mileage will cost you about £1500 in fuel (versus £300) electricity every year. Buying a 2nd hand electric car can be expensive and I wouldn't trust the state of the batteries either.

These sort of considerations would lean me towards paying the higher lease costs on another electric car.
Lowtrawler30/05/2020 09:17

Even the cheapest all electric car lease deals with 12000 miles are likely …Even the cheapest all electric car lease deals with 12000 miles are likely to come in around £250 per month. As you say, a big increase. However, that sort of mileage will cost you about £1500 in fuel (versus £300) electricity every year. Buying a 2nd hand electric car can be expensive and I wouldn't trust the state of the batteries either.These sort of considerations would lean me towards paying the higher lease costs on another electric car.


Yes I think that's what I'm leaning towards. Found a leaf deal for around 250 so may go for that. Will have a look this week and see if any other deals now showrooms are opening etc. Cheers.
Post a comment
Avatar
@
    Text