Newbie seriously considering leasing UK - sense check

[SpareHeadOne]

You hope. In normal times luxury cars never pay off the settlement figure hence why a lower lease monthly gives the garanteed depositfee to have your next deposit.

I've been driving luxury cars for 30 years and I've never been offered less than the settlement figure yet, but so what if I had?

Right now a lease would have been roughly £100/month more than my PCP, but with around half the initial payment. At the end it would save me about £2500 overall if there is no equity left so for me it makes sense to save myself that £100/month and gamble that there will be equity in the car at the end.

If leasing is right for you then that's fine. It's not right for me, never has been and doesn't look like it ever will be.

 

[Algeron45]

I've been driving luxury cars for 30 years and I've never been offered less than the settlement figure yet, but so what if I had?

Right now a lease would have been roughly £100/month more than my PCP, but with around half the initial payment. At the end it would save me about £2500 overall if there is no equity left so for me it makes sense to save myself that £100/month and gamble that there will be equity in the car at the end.

If leasing is right for you then that's fine. It's not right for me, never has been and doesn't look like it ever will be.

We all kiss goodbye to those payments and I just think how much money can I keep in my bank account towards next car than give to the finance or lease company as I’ll be wanting the latest model in two years time.

 

[yessuz]

We all kiss goodbye to those payments and I just think how much money can I keep in my bank account towards next car than give to the finance or lease company as I’ll be wanting the latest model in two years time.

It is interesting approach.

As with loan/pcp you potentially have asset in the end of the day. Only one argument here

 

[McXtravert]

If it appreciates, buy it.

If it depreciates, lease it.

(Paul Getty).

 

[Mrklaw]

If it appreciates, buy it.

If it depreciates, lease it.

(Paul Getty).

so then was sensible to buy my Tesla (at least for the next year or so). So far at least the price rises are mitigating depreciation well

 

[SpareHeadOne]

We all kiss goodbye to those payments and I just think how much money can I keep in my bank account towards next car than give to the finance or lease company as I’ll be wanting the latest model in two years time.

Meh, whatever works for you. Doesn't work for me and I don't generally want a new car every two years so leasing has always come up as more expensive for me as a private customer.

There is no absolute right or wrong answer with finance, it always comes down to personal preference and circumstance.

 

[Algeron45]

so then was sensible to buy my Tesla (at least for the next year or so). So far at least the price rises are mitigating depreciation well

With leasing pay less than financing and obtain profit as we pay monthly and with financing pay to borrow and then hope value of car is enough to give profit. In both we don’t tend to own the car outright. Keeper.