To Buy or to Lease ?

22
Posted 15th Nov
This would be our first car. We live in central London so would use it occasionally only for long distance travels.
Is it wiser to buy outright or to lease ?
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If the phrase "would use it occasionally only for long distance travels" is literal: hire a vehicle as and when required ?
22 Comments
as long as its not a land / range rover or german or a diesel then either is ok
If the phrase "would use it occasionally only for long distance travels" is literal: hire a vehicle as and when required ?
lumsdot15/11/2019 21:00

as long as its not a land / range rover or german or a diesel then either …as long as its not a land / range rover or german or a diesel then either is ok


Why so ? You recon they would ban it ?
hereissums15/11/2019 21:01

Why so ? You recon they would ban it ?


have you heard of the environment?
lumsdot15/11/2019 21:07

have you heard of the environment?


Do you drive/smoke/ eat meat ?
I don’t do any of those. So yes I know of the environment
If you're only going to use it occasionally go buy a cheap second hand car.

It would be a complete waste of money buying a new car or leasing one if it's going to get hardly any use on a daily basis,domt get suckered in to the marketing of owning a new car every 3 years.
lumsdot15/11/2019 21:07

have you heard of the environment?


So the French/Japanese/American etc cars don't pollute?
lumsdot15/11/2019 21:07

have you heard of the environment?



Yes? and you are wasting energy posting on here using electricity on your plastic computer.
Do you have parking?. I wouldn't lease as you are bound to get a few scrapes
markvirgo15/11/2019 21:38

Do you have parking?. I wouldn't lease as you are bound to get a few …Do you have parking?. I wouldn't lease as you are bound to get a few scrapes


Monior scrapes are generally less costly on a lease rather than purchased vehicle as the lease co actual permits defined damage at no penalty whereas tradein / resale of a purchased vehicle with same damage is an instant further depreciator.
Buy used lease new.
Leasing is a mugs game unless you just don't care about throwing money away, instead buy a 2-3 year car that some other fool has half paid for
markvirgo15/11/2019 21:38

Do you have parking?. I wouldn't lease as you are bound to get a few …Do you have parking?. I wouldn't lease as you are bound to get a few scrapes


I have parking
hereissums16/11/2019 01:28

I have parking


Rent out the parking space; hire a car as and when required.
I think London has something called the tube.... I haven't been for a while but saw a documentary on it tse2.mm.bing.net/th?…%3d
I think buying a lease is good if you want a new car every 2 or 3 years otherwise go with ownership.
You say occasional long distance then I would buy a second small run around (if you still want a car) and hire a vehicle for long distance driving.
Spent the last two weeks in the same dilemma. Because of two reasons I chose to buy: I do high mileage, and didn’t want to be penalised for that. Secondary, at least if I buy, I have something I own / to sell, where as lease you have nothing to show for at the end of your term.
Buy it . Someone has to make money from a lease as well as the manufacturer and it certainly wont be you
AndyRoyd16/11/2019 02:09

Rent out the parking space; hire a car as and when required.


That is exactly what I have done right now !
Uber?
mikeportsmouth16/11/2019 08:46

Buy it . Someone has to make money from a lease as well as the …Buy it . Someone has to make money from a lease as well as the manufacturer and it certainly wont be you


Or: lease it. Somebody has to take the maintenance / depreciation hit at the end of the manufacturer warranty period and it certainly won't be you.
And here we have the OPs dilema, which has been resolved by doing none of the lease / buy options.
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