Owned vs Leased ratio

[j.owen]

I leased my first car (1.2TSI Ibiza FR) for a shockingly good deal, which is the only reason I went down that route. It was £1.2k down and £132pm for 2 years with 15k miles a year.

I did have to pay for maintenance (£150 for first service). But it was a damn sight better than getting a 52 plate corsa for example.

I took advantage of the low payments and saved up enough to buy my current car (1.8TSI Ibiza Cupra) at 6 months old (ex-demo) with 700 miles for £13.9k which was £1.5k less than any similar spec. So going my market value and my current miles I've lost £500 in the 5 months of ownership and when I come to sell in 2 years I'll of probably lost £4-5k depending on how many miles I do, which in comparison to a lease on this car which was £9k for my mileage I think I made the best decision. Not to mention I have the freedom to modify how I please.

So to roll everything everyone has said above into one, leasing is a good option if you find the right deal, don't want to modify your car (or risk it), and want to switch every couple of years. But overall the best option is to buy 6 months old (just before the new plates are released) to get the best deal.

For info: I put £10.5k down and got fiancé for the £3.4k, just to make sure I didn't completely rinse my bank account, I could pay this off in full now but I'd rather rebuild and pay £40 a year interest and pay off when I wanna sell.


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[Curtly]

That sums it up in a nutshell, nice one.

 

[Kane7]

Always choose to go with PCP be for buying the car out right to keep sell private or trade in later down the line for a few new one when the time comes.

Never liked the idea of tunning cars and getting the finger pointing going on over warranty work. If the dealer still owns half the value of the car befor the final payment is up they tend to want to look after that investment incase I'm not gonna buy it just kinda my thinking I suppose, but I seem to be the first person in the UK to have both drive shafts replaced in a 12 month old cupra and no questions asked after it was initially slow to start the process

But after parting way for a Sachs up clutch, engine mounts and a R600 intake, and ecu mods I've practically already signed my life away for the ballon payment having already spent around 2k in parts and labour

Just sitting in the ISA waiting for the day



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