| Hi Greenpants
I looked into this in some detail when I chose my current car.
In my situation it was a no brainer basically because any mileage above 10,000 - 12,000 miles per year is heavily penalised by almost all leasing companies. Added to this that at the end of the term you have an asset which you can sell on or use as the deposit for your next car.
Again I don't know your deal but if you're allowed to buy a car up to 1 year old then most of the depreciation has already been factored whereas leasing the car you pay the depreciation.
Also a lot of cars have a period of free servicing (mine was 60,000/5yrs whichever is first) which is transferable. So you'll just be paying for consumables (lights, tyres etc) which I'm pretty sure you'll have to pay for if you lease the car anyway.
Finally the leasing option tends to force you to hand the car back in almost showroom condition or penalises you heavily. With your own motor you can sell it on and the odd scratch may go unoticed but if not you certainly won't be penalised as heavily as a lease car. |