[Closed] Car lease or buy nearly new

We're looking at renewing a lease now and although seemingly expensive these days, its likely we'll stick to a lease (PCH type 2 years) rather than buy. Some cracking deals on Merc C class estates at Drive the Deal though if that's your thing (to buy).

I think much depends on how painful that initial outlay is to buy, having to take a loan increases the liklihood of leasing I think. Don't be put off by the deposit though, most leases will allow you to tailor the deposit versus monthly payments.

Not Leasing to buying, I was coming out of a Company Car into an Allowance with no deposit to speak of.

I actually took a PCP on a 2 year old car from a main dealer with a £0 deposit. Gives me a few options, but you take a bit of a risk on maintenance.

I took it over 4 years, I can give it back at 35 months (via VT if I need to) or 48 months or buy it at the end. I should in theory have some equity at the end, but I'm not banking on it.

I'm in a similar position as the OP.
I've had 2 bargain 2 year Skoda leases (Octavia Scout for £188pm and Superb for £220pm) but my lease is now up and there is nothing comparable - The same Superb is now £270pm for 4 years.
For now, I've extended the lease for 3 months on the same rate, if I extend again after that it will be a new deal which will no doubt not be good so my plan is to purchase it. I had a quote a couple of months ago and it would be about £1000 under the market price and I'd have saved £4k in depreciation compared to buying it from new.
Can you buy your Volvo of the lease company? the other bonus with that is you know how it's been looked after (or not).

I did look at nearly new but they are nearly all through dealerships on approved schemes where a 1 year old car with a couple of extras is often close to the original purchase price. In many cases, if you can wait for a new car via Car Wow was less so maybe buying a brand new car is not as stupid as it used to be.

Thanks for all the replies so far 👍.

Sadly I've no option to buy the Volvo at the end of the lease.

Because I got such a good deal on the Volvo I'm struggling to get my head around paying a massive deposit (2.5k to 5k) compared to what I paid originally.

Our local Audi dealer wanted our old A3 as deposit on a Q3 then £305 a month.
I estimate our A3 is worth 5k in the current second hand market.

Wife likes the Mercedes A class or GLA. But after reading some stories on here about the A class I'm having second thoughts.

On A PCH deal there's no need to be bent over for a large deposit, you tailor it to suit you. Forget local as well, lease cars can be delivered from anywhere. I live in the North West and our car came from Cardiff.

Get on What Car Lease site and search the special offers. As Cheers up there mentions, Skoda used to be excellent but no longer those kind of absolute steals around. Also depends on the type of car you want, I've seen 1.5 TSI Leons at just over 4k for a 2 year lease at 8k miles per year. Pretty basic car but not a shabby option either.

A 290hp Leon Cupra with DSG, leather and all the toys for 7.4k on the same terms. Not bad for such a performance car.

We're after a replacement for a Tiguan and that's proving expensive

Because I got such a good deal on the Volvo I’m struggling to get my head around paying a massive deposit (2.5k to 5k) compared to what I paid originally.

Have a look at Lingscars.com * they are generally much lower deposits - 3 or 6 monthly payments. Still not sure you'd be getting a similar price, leasing is getting more expensive.

*only two more mentions and she will appear. 🙂

i'd recommend a 'bespoke' Skoda Sperb ..

My brother would recommend a ‘bespoke’ Skoda Sperb ..

FTFY.

Look for the Pistonheads Lesase Deals thread, always some good stuff on there. Big Volvos have been silly cheap recently ie £45k car for less than £300 pm