Van lease?

[CJ]

Does anyone lease?

Reason I am asking is that I am hoping to change the wife's car.......and off course everything we like is always that few ££ more than we have. Lot of PCP plans about......which looks pretty much the same as leasing to me. Anyway.....it got me thinking of the pros/cons of van leasing.

Over to you lot.........

 

[Concrete guy]

Leasing is more viable if you're vat registered, if you're not forget it.

The thing with vans though unlike cars, is the residual values can be very strong indeed.

A £12k van can often be still worth £8k or £9k at three years old, even with 60K miles on it.

Say you buy at £12K and sell at £8K at 3 years old, the vehicle has cost you £4K for three years running, no MOT required, no repair costs as it's all warranty covered.

Now compare that to leasing. You'd need to find something less than £120 a month to get the same 3 year cost.

This is the important thing when looking at funding a vehicle, don't look at the month figure, look at the term cost, i.e what it costs you for a fixed period. If you intend to change it every 2 or 3 years then buying can be substantially cheaper.