New car - Do I Lease or buy?

10 replies
Found 5th Nov 2009
Ok, heres my situation. I have a 53 plate 1.2 Corsa at the moment, and im based in Glasgow. My work is in Dumfries 3 days a week which involves a 180 mile round trip 3 times a week. My car has got to the point now where I still owe almost £2600 on the car but its worth is only around £2000.

Im needing a car which is going to be more fuel efficient, and a few of my friends were saying maybe leasing a car would be better. Considering Im doing approx 25-27 thousand miles a year.

Anyone here experienced in this side of things and recommend what I should do? Im currently paying £139 a month on Finance for the corsa over 5 years (stupid i know), and I have 19 months left.

10 Comments

never lease and never finance take out a loan gives you more bargaining power when buying the car plus intrest is a lot less than youd pay

jamstaruk1972;6794506

never lease



why?

I don't understand why people take finance or lease cars

why not buy one within your means outright??

Lease would be my option in the climate, plus you usually get a guaranteed new car at the 2 or 3 year point........

Original Poster

Ella'sMummy;6794589

I don't understand why people take finance or lease carswhy not buy one … I don't understand why people take finance or lease carswhy not buy one within your means outright??



because i dont have that much money lying about. I could start saving £139 a month if i got rid of my car, but then how would i get to work? All my incomings are gone by the first week with bills. My salary isnt much

If you are like my dad and want the latest Merc every 2 years, do a lease.

I see no other reason why anyone would want to lease a car.

Original Poster

jamstaruk1972;6794506

never lease and never finance take out a loan gives you more bargaining … never lease and never finance take out a loan gives you more bargaining power when buying the car plus intrest is a lot less than youd pay



I think the loan is the best option. But what about trading in my car? How much am i going to need a loan for to get maybe a diesel instead? Im not needing a massive car and im open to any suggestions.

Have a look here its a mad site but great prices also will try to beat a better offer.

lingscars.com/ind…ona

Also as you have passed the half way point you can just give the car back.
No win no foul.

Original Poster

bigwheels;6795237

Also as you have passed the half way point you can just give the car … Also as you have passed the half way point you can just give the car back.No win no foul.



How does that affect my credit rating though?
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