Forum

[Kevjoycreed]

Leasing or Owning............

I've had a 54 plate Renault Clio 1.5 Dci for just over a year and it's starting to cost me a pretty penny in maintainance costs. In the last month alone I've spent over £150 on tyres, £100 on diagnostic tests at a Renault garage, £130 for the first round of failed repairs and another £150 for the second atempt, if this one fails it could be major heart surgery. Not to mention it's overdue on it's 72k mile service (another £280) a service which recomends you change the Cam Belt (only £450) and it's due an MOT early september.

Given this recent run of costs I'm currently investigating the prospect of leasing. Anyone have any strong views on either option and if you've tried both which one works best?

Work is plentifull and if the car didn't steal all of my money I think I'd be rather rich!!!

[Ray Finkle]

I've done both and think each has good and bad.

Leasing gave me the peace of mind that all servicing and repairs are covered and that I got a new car every year or two, the downside was that £450 odd (can't remember the exact price) came out of my bank account every month whether it was good or bad, when hours are up it's fine but during a dry spell it could be a bit of a struggle.

I bought my current car outright 2 years ago, I reckon I've spent about £1-1250k on servicing and scheduled repairs (brakes etc) and when I compare that to the £10k odd I'd have spent on leasing it seems the best option. However, my car is still under warranty and I can guarantee all major repairs will come when that expires , and that's when it will get pricey. The major downfall of leasing I think though is depreciation, my car was £9k when I bought it, 2 years on with the mileage it has accrued I'd probably be lucky to get £4k for it, another 3 years (which is how long I am aiming to have it) and it'll be practically worthless.

I was aiming to go back to leasing and sell my car after 2 years, however circumstances have changed. I'm currently going through the quietest patch in all my 7 years (another topic I know), and if I was leasing I'd be having a major struggle, so I'm going to run this car into the ground then pass it onto the wife as a runaround , by then things will have either picked up or I'll be in a new career

Not much help I know but guess this one just comes down to personal preference and circumstances.

[Kevjoycreed]

To be fair the decision has been taken out of my hands now. My Clio has died an untimely death, spewing thick blue oilly smoke from the exhaust every time the gas pedal is pressed. This is fast becoming the week from hell, car dies monday, tests booked tues, wed, thur only replacement car available is a 1.2 petrol, bring on multiple driving test faliures for constant stalling
Hopefully new Corsa arriving early next week will see me through next 12 months, could be make or break

[drivinginstructor1]

I've just completed my order for a 1.3 Diesel Corsa
After intensive research Leasing came up as the favourable Altrnative taking all aspects into consideration
Reliability , replacement within 24 hrs , Maintenance covered , Tyres Covered , Depreciation, Recovery etc

Lease cost £341.09
replaced every 7 month's
All costs declarable

All I need to buy is Engine oil Diesel and insurance ( pleasant surprise there this year £293.00 )

[Ray Finkle]

Looks quite a decent price, out of interest, if you don't mind me asking, where are you leasing from?

[drivinginstructor1]

Robinsons of Leicester

Insurance £293 everyone covered even 17 and over FLH social and domestic with authority plus all usual instructor additions and spare care within 24 hrs max upto 28 days own fault accident unlimited not own fault accident

Picking it up Monday 22nd Livery put on Tues 23rd New Driver Training School starts Wed 24th

wuhoooooooooo 7 hrs a week to pay bills including diesel instead of 18 plus diesel with old franchisor who was quite a Big School of Motoring