Overhaulin'

To lease or to buy a car?

If I always want to change my car because I'll get bored of it and just need a change should I buy it or lease it? Which is a better decision in this situation? Someone told me that I should buy it and then just exchange it for another one after 3-5 years, even if it's financed. Is it better? I don't understand why it would be. Anyway this is hypothetical; I told the person that when I get older I will want to lease all of my cars because it seems like the better decision for my situation.

Public Comments

1. with your circumstances lease it/cost more to lease than own in the long run/but its easier to get in and out/upfront costs and down payment on lease/damage costs on lease and exit costs-mileage and damage and always have full insurance coverage and gap insurance/if you boredom is worth that then go for it
2. If you keep them 3 years or longer and are very careful about the loan type and interest that you pay, buying is much better. You also need to buy quality cars with known good resale value to be most efficient. Leasing is only a good choice if you have your own business or for businesses.
3. Lease if you like a new car every few years. Buy if you want to put lots of miles on one. It's simple.
4. Financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool - carquotes.fateback.com
5. Personal contract hire can be both cost-effective and easy to manage, you make fixed monthly payments for the duration of the contract. After the contract expires you simply return the car to the leasing company and can arrange a new contract for a new car. Advantages of Contract Hire: Fixed monthly payments which are cost effective and allow you to easily budget. Road Fund License included, FREE UK Delivery and No Admin fees with most contracts. No depreciation worries – At the end of the contract the car goes back and you do not have to concern yourself with selling the old vehicle. Contract hire deals gives you access to vehicles that may be unaffordable to buy. If you would like any further information please contact me and visit our website www.your-lease.co.uk