[cmptpad]

I am sure this thread has been discussed but I can't seem to find it . I used to buy cars and keep them (20+ yrs) until I throw them out. Nowadays technology in cars advance so fast so I am thinking of leasing cars from now on to take advantage of new technology , especially new electronic safety features. Please share with me (us) your experiences . I am sure there are Pros and Cons. Best regards

 

[2112]

I am currently leasing my M Class and both myself & the wife will be leasing our GLC's. I am getting out of the lease 5 months early on my M Class as the dealer is simply taking it in P/X for the deposit on the GLC, no penalties. The upside to leasing is you can have a new car every three years (or less), the downside is the vehicle is never yours unless you wish to pay a large 'balloon' payment after three years. Personally, I'm ready for a change after three years (my record length of car ownership is 3 1/2 years) so it works well for me. If you like to hang on to your vehicle for a long time it's probably not the best option.
As an additional aside I use my vehicle for work and get an allowance from my employer towards the vehicle which must not be more than 5 years old. This scheme works really well with lease cars. It also means you can find your car in the car park in the sea of identical saloon's...

 

[Norfolkcol]

With you all the way

If it depreciates, rent it

It if increases in price, buy it

I'm sure there are exceptions of course! ��

 

[ZoeSanderson]

For other members here I would recommend buying it if you will keep the car 2 years max, but if you like to have more than three years leasing. Nowadays, companies give you the possibility to take a credit or hire purchase agreement, loan and so on. For my actual car, a preferred the loan. Not everybody is eligible for a personal loan to buy a car. To qualify, you must have a good credit rating at Money Expert If you have a poor credit history, then your application is likely to be rejected as the loan wouldn't be secured against any of your assets. Now, I pay monthly for GLE my almost 1500. Of course, I can't call it my car yet, but soon it will become mine.