Leasing vs Buying A Car In The UK — The Real Maths (A must WATCH!)

Comments · 493

• UK

  @UKFinanceSimplified · 2 weeks ago · pinned

  Same BMW. Same ten years.<br>PCP cost Kieran £47,131. Buying used cost Maureen £16,359.<br>70% of Kieran&apos;s interest was charged on a payment he never made.<br>How are you paying for your next car: PCP, cash, or used?

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• MU

  @musiconair · 2 weeks ago

  Keeping up with the Jones’s comes at a price! I drive a 2004 Golf, passed last 4 mot’s, priice £850 in 2018 and still shines in the driveway! Who cares what people think!

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• DJ

  @dj_efk · 2 weeks ago (edited)

  My approach: Buy a 3-5 year old car outright (use a bank for a loan if you must), then keep it as long as possible - maintain it religiously, ideally shorten the manufacturer&apos;s stated service intervals. Don&apos;t skimp on spending money on it when it needs it (including using genuine or top-tier fluids and parts whenever possible - eBay is great for this). Learn to do basic maintenance yourself to help keep the bills down. Keep records you can refer back to.<br><br>Take an interest and don&apos;t be cheap.

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• JE

  @jean_mollycutpurse_winchester · 10 days ago

  Four years ago I bought a fiesta flame 2004 for £600. It passes the MOT every year with no problem and I drive about 1800 miles a year. I am a pensioner and I have recently been told it&apos;s now worth £900. Sweet!

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• MO

  @Moneylore-d2t · 15 hours ago

  &quot;This 10-year math was an absolute eye-opener! We usually make decisions based just on the monthly payment, but this video perfectly exposes the hidden trap of car depreciation. Maureen&apos;s used car strategy is definitely the smartest move here. Brilliant and highly educational content!&quot;

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• MR

  @Mr-ue2ul · 2 weeks ago

  I buy at 3 or 4 years old.<br>Always pay outright. <br>I drive it till it dies.<br>I do the service myself .

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• CR

  @crushedmoon1503 · 2 weeks ago

  My car is 24 years old now. Bought it several years back rust free and just 23000 miles. It was next to sod all in terms of buying cost. Iv&apos;e never had to do anything other than basic services (which i do myself because you can with cars from that era) No tech and touchscreens to pack up. Drives well. So in short it was sod all to buy, its given me no expensive problems and iv&apos;e lost almost nothing as it cost little to begin with. I love having a car that&apos;s not mugging me of my money. I&apos;m in no rush to part with it and have no insecurity about driving it. The need to impress and &apos;keeping up with the Jones&apos;s&apos; thing is a mugs game. I grew out of that way of thinking a long time ago.

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• SI

  @simon8864 · 2 weeks ago (edited)

  I&apos;ve never understood how so many people can afford to drive around in new cars.<br>Seems like they can&apos;t afford it after all

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• HJ

  @hjhirani · 2 weeks ago

  Last Xmas, I bought a nine month old Kia at nearly half the list price for cash.<br><br>As it basically came with a balance of over six years warranty with it and I plan to keep until it has expired, I think I&apos;m the winner.

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• CA

  @carrickrichards2457 · 2 weeks ago (edited)

  Moral: Buy a 3-4 year old car (but keep it at least 10 years). Chose what has longest warranty and best reliability record.

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• CO

  @ColinMill1 · 2 weeks ago (edited)

  We are only on our 3rd car since 1982, all bought used in the 2.5 to 4 year age range. I have done the vast majority of servicing and repairs. The first was t-boned and written off at 17 years old, the second was given to a friend at a similar age and the current one just turned 20 with a full MoT. Converting the purchase prices to today&apos;s money the depreciation has cost about £1500 per year

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• OP

  @open_water2411 · 2 weeks ago

  I bought a new Mini Cooper - took out a deal then paid it off with cash about a year later. It’s now 10 years old and hasn’t had a single issue. I’m in the process of looking at something again but will probably look at a 3 year old car this time. The mini cost around £18,000 and VED is £20 per year.

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