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Lease, Finance or PCP?

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By (user no longer on site) OP   
over a year ago

Wondering what people's opinions are on getting a new car on either of these options. Leasing seems to make sense because of the depreciation but then you never own the car and are always paying out.

Any opinions?

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By (user no longer on site)
over a year ago

Do you have the option to save, then buy it outright?

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By *heBirminghamWeekendMan
over a year ago

here

Don't save and buy

If you don't want to own the car

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound

I just got a new one on PCP. It works for me as I just see it as paying to use a car. I'm not planning to keep it beyond three years and the deal covers a lot of stuff I would have had to pay for in other ways with a new car.

Get what you can afford and feel comfortable with.

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By (user no longer on site)
over a year ago

I've always bought my cars outright but I've just bought one on 3 year finance. Made sense as I got 3 years free servicing free and it's totally tax exempt and no mot needed as I'll just renew it in 3 years time. The cash settlement at the end becomes the deposit for the next one so it's win win for me.

The fact I'll never own it hasn't bothered me as my last car a Saab 9-3 depreciated heavily after they went tits up.

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By (user no longer on site)
over a year ago

Well leasing is only really a benefit if you own a business - then in general you can offset the costs directly instead of amortising the capital at a much lower rate if you purchase.

If you're a private buyer, then you're generally better off buying it outright and paying of any finance as quickly as possible.

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By *heBirminghamWeekendMan
over a year ago

here

Lease

You never truley "own" the vehicle

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By (user no longer on site)
over a year ago

I went through a stage of buying a new car every 6 months and always paid them off outright.

Bought a brand new car when the 63 plate came out because my last car broke (it was a Peugeot) I've since paid my current car off and can now do what I please with it bought it new so I had it covered after having to deal with a £3000 repair bill from the pug.

Totally depends what you want from the car and the deal, pcp wouldn't work for me as I like to own the car, but if you want to swap it ever X amount of years, pcp would be best.

Went looking at range rovers and everyone gets them on payment plans is what the garage said. because they work out the cheapest with the tiny depreciation value of range rovers.....so the make of car could also come into which would be the best option.

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound


"Lease

You never truley "own" the vehicle"

?

Do you mean some cars "own" you (costs of repairs etc.)?

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By *heBirminghamWeekendMan
over a year ago

here


"Lease

You never truley "own" the vehicle

?

Do you mean some cars "own" you (costs of repairs etc.)?"

Nobody owns anybody !

But people buy cars thinking they own then

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound


"Lease

You never truley "own" the vehicle

?

Do you mean some cars "own" you (costs of repairs etc.)?

Nobody owns anybody !

But people buy cars thinking they own then"

How are you defining ownership. If they buy them outright then surely they own them.

If they buy them on finance then they don't until the finance is paid.

I've gone down the PCP route because I'd rather use my capital for something else and, as said, I see it as just paying to use a car.

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By *heBirminghamWeekendMan
over a year ago

here


"Lease

You never truley "own" the vehicle

?

Do you mean some cars "own" you (costs of repairs etc.)?

Nobody owns anybody !

But people buy cars thinking they own then

How are you defining ownership. If they buy them outright then surely they own them.

If they buy them on finance then they don't until the finance is paid.

I've gone down the PCP route because I'd rather use my capital for something else and, as said, I see it as just paying to use a car.

"

you have done it the right way

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By *heBirminghamWeekendMan
over a year ago

here


"Lease

You never truley "own" the vehicle

?

Do you mean some cars "own" you (costs of repairs etc.)?

Nobody owns anybody !

But people buy cars thinking they own then

How are you defining ownership. If they buy them outright then surely they own them.

If they buy them on finance then they don't until the finance is paid.

I've gone down the PCP route because I'd rather use my capital for something else and, as said, I see it as just paying to use a car.

"

you have done it the right way

Reply privatelyReply in forumReply +quote
 

By *heBirminghamWeekendMan
over a year ago

here


"Lease

You never truley "own" the vehicle

?

Do you mean some cars "own" you (costs of repairs etc.)?

Nobody owns anybody !

But people buy cars thinking they own then

How are you defining ownership. If they buy them outright then surely they own them.

If they buy them on finance then they don't until the finance is paid.

I've gone down the PCP route because I'd rather use my capital for something else and, as said, I see it as just paying to use a car.

you have done it the right way "

I meant big smiley at the end of message

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By (user no longer on site)
over a year ago

It really, really depends.

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By *heBirminghamWeekendMan
over a year ago

here


"It really, really depends."

Indeed

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By (user no longer on site) OP   
over a year ago

Cheers folk, I find car finance so confusing! It'll be a while til I go for it but I like to do my research.

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By (user no longer on site)
over a year ago

pcp good, always in warranty, however higher balloon payment if you wanna keep the car, or change every 2-3 years, i work in a car dealer, normal finance is good if you wanna keep the car for a while without huge payment at the end

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By *ophieslutTV/TS
over a year ago

Central

I dont need a string of assets, as my car wouldnt rise in value, it would be a poor one. I lease and seems a good way to drive what I want.

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