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Have been looking at a few cars, and somebody suggested that I should consider leasing. My gut feeling is, nah, I would want to own the car. But then thinking about it a little more, I could have a brand spanker for three years and then swap it for another, all for a monthly rate that it probably about the same or lower than if I buy the car on finance. Can anybody impart some wisdom?
 

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Have been looking at a few cars, and somebody suggested that I should consider leasing. My gut feeling is, nah, I would want to own the car. But then thinking about it a little more, I could have a brand spanker for three years and then swap it for another, all for a monthly rate that it probably about the same or lower than if I buy the car on finance. Can anybody impart some wisdom?
Thought you had plans to FI an R32..................................
 

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I did and as much as I would love to do so, my other half would probably kick me out if I did it :-(

PS have you bought a replacement yet?
So your choices are a blower or a blower? Which one has better suction?
 
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It really depends on your long term plans, if you plan to keep a car forever then leasing is no good, however if you always want a new car then it makes sense...
A new car depreciates fast so you're losing money every month and after 3 years it'll be worth say 40 - 50% so work out what that would mean you lose a month, normally with leasing it works out that you'll just end up paying the depreciation of the car, so it's a way of getting a new car without the massive debt on your name or the hassle of selling it - you can always buy it off them at the end.

A big issue with leasing is your mileage, if you do high mileage then leasing doesn't work out too well, but then a personal car would also depreciate faster so it spins in roundabouts.

Obviously buying second hand is much better value and depreciation isn't so much of an issue, but leasing really is only if you want a brand new car.
 

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Harry Metcalfe in this months Evo magazine has a small article on the virtues of leasing - worth checking out.
 
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