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Author Buying a car with a loan, finance or lease?
K2 GTi
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Registered: 21st Oct 04
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30th Apr 13 at 08:19   View User's Profile U2U Member Reply With Quote
Morning

Is it best to buy a car with a loan, or a finance company, or even a lease?

Lingcars have some good deals where you hand the car back after 2 years, but you're limited to the mileage you can drive.

is it best to get a loan to buy a car, or would you rather lease?

I suppose it's different for everyone

Colin
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Registered: 4th Apr 02
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30th Apr 13 at 08:36   View User's Profile U2U Member Reply With Quote
Best is to buy paying cash.

Finance is secured against the car - difficult to get rid of the car at short notice.

Bank loan - not secure against the car.

Lease - your stuck with it the term whether you want it or not.
corsa_sean
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Registered: 11th Mar 08
Location: aberdeen
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30th Apr 13 at 08:40   View User's Profile U2U Member Reply With Quote
I would say loan easier if you say get bored can sell it and pay it off easier where as the other two your kind of stuck with it for the term
K2 GTi
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Registered: 21st Oct 04
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30th Apr 13 at 08:55   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by corsa_sean
I would say loan easier if you say get bored can sell it and pay it off easier where as the other two your kind of stuck with it for the term


Yes that's right.

But with a lease you can get a new car every two years and not worry about repairs, MOT's or breakdowns
Tomnova16
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Registered: 21st Jan 06
Location: Gerrards Cross Drives: Porsche 911
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30th Apr 13 at 09:00   View Garage View User's Profile U2U Member Reply With Quote
get a lease then

http://www.lemass.co.uk/ for all your automotive/bodyshop needs
Located in Chalfont st Peter
Kyle T
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Registered: 11th Sep 04
Location: Selby, North Yorkshire
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30th Apr 13 at 09:01   View Garage View User's Profile U2U Member Reply With Quote
Loan worked out best for me both in terms of interest rates and freedom. Depends on budget though, as loans become less accessible at higher amounts.

Lotus Elise 111R

Impreza WRX STi
Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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30th Apr 13 at 09:15   View Garage View User's Profile U2U Member Reply With Quote
Lease only really works out if your going to buy the same car new.
Simon_16v
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Registered: 14th Aug 06
Location: Yorkshire
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30th Apr 13 at 10:55   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by K2 GTi
quote:
Originally posted by corsa_sean
I would say loan easier if you say get bored can sell it and pay it off easier where as the other two your kind of stuck with it for the term


Yes that's right.

But with a lease you can get a new car every two years and not worry about repairs, MOT's or breakdowns


That's true if you have a maintenance package with the lease, if not you are expected to fix the car.

 
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