Hi Guys,
I am thinking about changing my zed fairly soon and always wondered about leasing a car instead of just lumping up cash for the whole thing!
I am trying to work out if it makes sense for me to actually lease though, from what I can see all of the leases work of a time of about 3 years (that is extendable ? ) they do charge you if you gov over the 10,000 mile allowance. Now I am only using the car as a weekend car, so I probably only do 3 - 4k a year, which would mean at the end of 3 years the car would have a slightly higher residual value as its been used less.
So the part I dont understand here is, if it makes sense to do more or less miles, which is more financially viable ?
Lower annual miles means the monthly payments would be lower ? as your only paying off the difference between the cost of the car now and the predicted cost of the car in 2 / 3 years when you hand it back in.
I am confused so a helping hand would be much appreciated
Thanks
Bhav