Join Date: Jul 2005
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At those kind of mileages, I'd be tempted to keep it until the warranty runs out (probably just into the second year at this rate, as the third year is subject to a mileage limit - 60K I think.) At that point, I'd trade at a dealer for a low mileage 12 month old example and let some other mug take the depreciation hit. You'd just about get another 2 years out of that one and save yourself a small fortune, then you'd be able to do the same switch again.
Leasing might be a tempting option, but only if fully maintained. As an indicator, the best price I could get on the Lag II Initiale 1.9 dCi (22K list) fully maintained over 4 years with 100K overall mileage was 430 quid per month including VAT, but leasing prices seem to go up and down like a yo-yo.
As I understand it, leasing makes more sense for businesses because they can claim back 50% of the VAT on the rental element and 100% of the VAT on the service element. For those who can't claim back VAT, that's a fair bit extra to pay. It's probably still worth looking into though.
Currently in Horatio's garage:
2010 Laguna III Initiale.