Should You Lease or Buy A New Car?

If you're in the market for a new car, think carefully about how you'll finance this. Is leasing or buying better?

White Vauxhall Corsa photoCar leasing vs buying: example of savings you can make on a new car

Let's do the maths for leasing and buying a brand new car - we'll take the popular and economical Vauxhall Corsa Hatchback 1.2 ecoflex exclusiv 5dr

Costs when leasing the car in the UK

Costs when buying the car in the UK

Future value estimate: £4,032.60

The estimated future value of a 3-year old Vauxhall Corsa Hatchback 1.2 ecoflex exclusiv 5dr with 30,000 miles is £4,032.60. (Data from Network Leaseplan as at 11 December 2013) 

In the UK, we recommend leasing over buying for your next new car

The alternative to buying is that, with car leasing, at the end of the contract, you can take your choice of another entirely new vehicle, which is likely to have better safety features, better fuel economy, include the latest gadgets and feature the latest design, and again save thousands over the cost of buying outright.

Plus, there is none of the hassle of trading in a car or selling privately. You can also choose a vehicle that suits your current needs - whether it's something a bit sporty, something with more room for a growing family, or as a second car for other family members.  

 

  • FORD FIESTA HATCHBACK1.25 82 Zetec 3dr

    FORD FIESTA HATCHBACK 1.25 82 Zetec 3dr
    4 Years £137.08
    £822.48 initial payment 10,000 miles p.a.
    prices shown exclude V.A.T.
  • VOLKSWAGEN UP HATCHBACK1.0 Take Up 3dr

    VOLKSWAGEN UP HATCHBACK 1.0 Take Up 3dr
    4 Years £126.86
    £761.16 initial payment 10,000 miles p.a.
    prices shown exclude V.A.T.