Something’s very wrong with your finances if you’re not planning for (and able to ride out) that sort of situation.

When I got laid off, my pal also lost his job (MFI failure). Luckily I got a good package, no debts, high-earning wife and two cars both paid for; he had none of these plus two leased BMW’s at £900pcm…

Hard to budget for that.

simon_g – I’m the same but its easy to commit to something etc etc and then suddenly everything changes.

Buying into a product has has no exit clause for years is a bigger commitment- dare say bigger than buying/having to sell a house. The scale of £ may be different but one you can get out of if need be in a reasonable amount of time.

do these deals not have exit clauses ?

Typically early exit charges are very high so effectively no, it’s yours for the term.

Leases over 2 years aren’t so appealing to me for that reason.

interesting, thanks. My Company car scheme is changing over to an annual allowance, so I had been thinking of a nice something on a 3 or 4 yr pcp/lease type deal next year when current car goes back…. not so sure now if I am going to be fully tied into it regardless of major circumstance changes…