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post #1 of 15 (permalink) Old 11th September 2013 Thread Starter
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Question New Car - Lease it or Buy it?

Hello Friends

I have just got a new job and I'm thinking of a new car, before going ahead and committing to something this big, I thought I'd ask the experts on here.

I read some articles in regard to leasing vs buying a new car, and the article basically said something along the lines of:

"If the new car will only retain 36% of its original value, then leasing would be the economically smarter choice, on the other hand if the car will retain >60% of its original value, then buying the car is wiser."

What do you guys think of the above? Also how good do Renault cars keep up their original purchase price?

I am thinking of going for the New Clio Dynamique S MediaNav dCi 90 EDC Auto. I like the looks of it, and seems to be fuel efficient with low emissions.

I would greatly appreciate any help and advice.

Thank You.
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post #2 of 15 (permalink) Old 11th September 2013
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Re: New Car - Lease it or Buy it?

The other day I had a leaflet through the letterbox from a major Peugot dealership advertising their range. They offered a lease purchase plan and I was very surprised to read in the very small print that on one of their plans that after 2 or 3 years you can make the final lump sum payment of say 2k or 3K to keep the car but you do not own it I'm not interested in buying a new car anyway but I was just shocked to see that you don't own the vehicle after the final payment.
Read all the small print very carefully ... there's several finance schemes offered so don't assume one scheme is like another.
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post #3 of 15 (permalink) Old 13th September 2013
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Re: New Car - Lease it or Buy it?

I've leased my last two cars and I can recomend it, PROVIDING you meet certain criteria. 1 mileage. If you do high mileage it's not worth it.2. Realise that the car must go back at the end of the term in A1 condition. This means spending a little bit of money on re-furbing alloy wheels and replacing cracked mirrors etc. I've done personal contract hire with full maintenance. The only thing extra I have to pay is insurance and fuel. You are locked into the contract term, so obviously if your job is not secure it might not suit. 3+35 payments is usually the best option. It's great not having to try and sell your car, just give it back and choose a new one!
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post #4 of 15 (permalink) Old 13th September 2013
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Re: New Car - Lease it or Buy it?

simple just look at the cost per mth on both lease/buy and what you get at the end of 3 years nothing or a car
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post #5 of 15 (permalink) Old 13th September 2013
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Re: New Car - Lease it or Buy it?

Why not buy a 1-2 year old car with a decent remainder of the original warranty at a competitive interest rate (stick a personal plate on it) and instantly you are better off.

Let the initial purchaser take the bulk of the depreciation hit, you get a nearly-new car for a fraction of the new price, so you are borrowing a lower amount, and if the car is still in production, the only person to know it isn't 'new', is you.

I bought my van brand-new in 2005 from this company; and tbh, I saved 9000 by doing so.

Just another avenue you may not have considered.



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