In my 40 years of driving I have always bought my cars and most of them brand new, but now most websites seem to be advertising lease cars. When I went on the Claybank Skoda site yesterday one of their cars was advertised as buy or lease "it's a no brainer".

Why is leasing a car rather than buying a car a no brainer?

 

http://www.claybankmotorco.co.uk/no-brainer/citigo

Edited 5 September, 201510 yr by Fab Estate

It's not.

Sometimes lease deals can be cheaper than an equivalent length and mileage PCP, and sometimes they aren't.

It depends on the deals at the time, so if you are happy with fixed term use of the vehicle and you've got a good idea of your mileage then they can work out very nicely.

Adding options bumps the cost up quite a bit but if you are fine with a standard car then give it a go.

Some of the shorter lease deals work out cheaper than what you'd loose on depreciation when buying a new car. If you don't intend on keeping a car long term then a lease seems to suit a lot of people.

As Dr Z said. It's never black and white.

Some great lease deals are subsidised by manufacturers (slow moving stock or new / old models), or the cars have good residual values and so the monthly price can be disproportionately low compared to the outright purchase price.

Likewise, I've seen good deals on PCP's for similar reasons.

Rarely do you see rock bottom buy it now, cash deals.

As far as whether you wish to buy or lease usually depends on how many miles you do, how often you change, and how many options you like adding

Leasing is better suited to 2-4 year fixed mileage (5-12k / year), base spec (or 1-2 low cost options)

If you go with an open mind to which car you want you can pick up some real bargains.

The last sentence is the key one. If you aren't fussy about what car you drive and are prepared to go for whatever is cheap this month then keep an eye out for cheap leases on Hot UK Deals.

If you have set your mind on a particular car then you may be disappointed waiting for a bargain.

My next car will be a lease, I'm fed up spending a couple grand on a " cheap " runner, then I constantly have to repair it. I've never bought new, never will unless it's through a lease.

I've found a Octavia VRS diesel, £237pm maintained. £700 down, 10k per year, 24 month deal

G

10000 a year what are you paying for to be maintained?

It will be set to variable servicing and likely to be only 1 pair of tyres required.

So maybe one service at £250 and a pair of tyres £200 = £18.75 month

My next car will be a lease, I'm fed up spending a couple grand on a " cheap " runner, then I constantly have to repair it. I've never bought new, never will unless it's through a lease.

I've found a Octavia VRS diesel, £237pm maintained. £700 down, 10k per year, 24 month deal

G

Where from please...

10000 a year what are you paying for to be maintained?

It will be set to variable servicing and likely to be only 1 pair of tyres required.

So maybe one service at £250 and a pair of tyres £200 = £18.75 month

If it's the deal from Jet Finance -

http://www.contracthireandleasing.com/personal/car-contract-hire-and-leasing/skoda/octavia/

The difference between Fully maintained and not maintained is only £8 / month. Saving at least £10 / month by your calculations Also gives total peace of mind.

I had the same scenario with the Golf. £10 extra per month for fully maintained. Already had 1 tyre replaced due to unrepairable puncture, another repaired. Oil service booked for next week. Will need 2 front tyres in 2k. Full service showing to be needed in 10 months time. Absolute bargain for £240

Where from please...

https://www.contracthireandleasing.com/car-leasing-companies/independent-brokers/jet-vehicle-finance/skoda/octavia/50421301/

I lease, I change often and always buy new so it is a no brained for me at the minute.