How much "extra" money does a car lease cost above buying outright

[metrxqin]

@tyxaerlyn £3k for repairs over 10 years? You’re not including the regular cost of MOT, servicing, tyres, timing belts etc. There could be a 3k bill every few years and easily could be £500 a year on average after the first three or four years.

I’m going for a lease again next, because when I had lease cars over a ten year period I NEVER had to pay for an MOT, tyre, broken part or anything else (apart from a regular service). The peace of mind makes it worth it for me.

 

[tyxaerlyn]

@metrxqin If I not accounting for all those things… then what I am I accounting for exactly… there’s nothing else left!

But I even give you a 6k example and the difference is still 2k a year and 20k over 10 years. And not many are averaging £600 a year on maintenance over 5-10 years unless brutally unlucky.

 

[metrxqin]

@tyxaerlyn I agree in theory but having done both I think if you can afford it the lease is better as you have a brand new car which is never in the garage and fixed costs with no worry. My partner’s cam belt randomly went a few months ago and wrote her car off, that’s not something you need to worry about with a lease.

 

[tyxaerlyn]

@metrxqin That can certainly happen (writeoffs)- but it’s a hefty premium people don’t want or care to pay for, because it’s fairly rare.

 

[timofey]

@tyxaerlyn What cars have you owned? I don't know anyone with more than a city car (like a micra) who has spent 3k in 10 years on maintenance, repairs and upkeep