I've always bought my cars also. So have no experience with PCP, lease etc.
We bought our car 4 years ago in the hope we'll run it till EV becomes viable.
We want the Model Y, but our cars a bit of a bum. Lots of electricle failures. It wont last another 2 years without costing us ££ now we're out of warranty...
So we're getting a Model 3 till the Y is available.
I originally went for BH PCP over 3 years with our deposite + trade in as deposite in the expectation we'd switch to a Y at the end. So:
The cars a SR+ White with unicorn.
10k down and 319.46 per month
= 21,500.56
Now I understand the car 'could' be worth apx 25k. Giving us a possible 3.5k equity.
BUT
I've a lease quote for:
422.60 x 35
3k down
+ 199 processing
= £17,990 over 3 years.
Am I missing something? Why would I choose PCP over lease if I'm changing after 3 years? I'm guaranteed 3.5k better off. And I'm doubtful Tesla would give the full 'book value' of my 3 on any new deal?
The option to keep the 3 if the Y's not available is a positive though.