leasing vs buying

jesus_thats_gre

Heh Lads

I am currently considering options on puchasing a car and someone suggested having a look at leasing as an option..

I would like a new car but am the sort of person who would get bored quite quickly and would probably want to change every year or two. This would cost me a fortune and I would be quids down big time..

So I want a new car and don't really care whether I own it or not as the depreciation is a massive disadvantage..

So has anyone had any experience doing this sort of thing? At most I would be doing 15,000 miles a year.

Thanks

trotter_inc

If you're getting a loan get it through the credit union - dont get a bank loan liek I did - the interest on it is ridiculous!

Nuttzz

It will be more expensive than the traditional routes of buying it with or without finance. I know a chap who pays €1000 per month for a E200, the leases tend to be over 3 years rather than 1-2, adding servicing etc will also increase the price

jesus_thats_gre

Just gave Windsor motors a quick call there.. Offering a brand new Astra over 4 years for 320 a month.. just a rough price but interesting..

Seth Brundle

jesus_thats_gre wrote:

Just gave Windsor motors a quick call there.. Offering a brand new Astra over 4 years for 320 a month.. just a rough price but interesting..

Is there a baloon payment at the end?
4 * 12 * €320 = €15360 - looking at nicemove.ie the cheapest astra is €18,710, leaving you with a shortfall of €3350 which must be paid at the end. This calculation also is based on the basic car (1.2 XE GL) and also doesn't factor interest etc!

lomb

1000euro a month is a good price on a new e200. if u look at depreciation u can buy a 2000 e230 for 46000 off the new price so 11500 depreciation a year. also finance cost of say 2800, and it works out 14500 roughly. an e200 will cost a little less. id say 12000 a year is the going rate mate. the cost of driving even a low level merc is 12000+fuel2000+1000tax+2500 insurance +500 servicing=18000. to spend this you need to make 33000 before tax.
food for thought for basically a nice car but no where near a great one.

unkel

kbannon wrote:

Is there a baloon payment at the end?
4 * 12 * €320 = €15360 - looking at nicemove.ie the cheapest astra is €18,710

My guess is that it's just a lease - Jesus would never own the car at any point

jesus_thats_gre

not owning it ever is the plan..

unkel

jesus_thats_gre wrote:

not owning it ever is the plan..

Grand. It is a good way of fixing your monthly outgoings. If you are a careful owner and driver however, your expected outgoings over the term of the lease would be lower than the lease payments

Any chance of getting an even better deal: a company car?

jesus_thats_gre

mobile phones bills are paid for already, the company car is the next goal