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Personally I could never live with the outrageous depreciation on a new car - so buying new is never an option for me. Leasing is a good way around so that to have a new car regularly, but personally I just wait a few years and pick up a decent secondhand car.

That way someone else has paid for a decent chunk of the depreciation and nowadays a low mileage second hand car is ‘as new’ if you pick a decent one.

You can have something a bit more ‘exotic’ too that’s still in your price bracket. My current ride is a 2014 M6 which I bought for less than a new base model 3 series - no brainer in my mind


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When I used to buy new my own were leased or company cars with specific budget bands that I could also add to if I wanted something out of the ordinary.

Nowadays, second hand, buy .... Even if I had oodles of money I wouldn't buy new, I'd maybe lease if I wanted something special, but not seen anything special enough!
 

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Personally wouldn't touch leasing with a barge pole - had to deal with far too many horror stories in business with mileage caps / excess mileage charges and the dreadful inflexibility of the contracts.

But I'm very grateful to those that do lease as it helps create a good flow of nice second hand cars for me to buy outright later on!
 

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Personally wouldn't touch leasing with a barge pole - had to deal with far too many horror stories in business with mileage caps / excess mileage charges and the dreadful inflexibility of the contracts.

But I'm very grateful to those that do lease as it helps create a good flow of nice second hand cars for me to buy outright later on!
I can understand those issues, but I haven't actually leased now for more than 15 years so maybe enjoyed the good times, though working for a company that leased other equipment themselves and knew the major problems gave me a good start point .. ;)

And yes, I've also found great bargains in fleet sales .. ;)
 

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I’m on my first PCP deal. I took the correct mileage and made sure the interest rate was low. I also got the car 8 months old with a massive discount as it had already done the initial depreciation. (Car was originally 41k and I got it for 22.5k)

Going by average depreciation and my monthly payment the car will be eligible for an upgrade around month 27 which is around the time the 3 year warranty runs out. If you stick to the mileage and check the deal out then there is no reason it can’t work. So you essentially rent the car while it’s completely under warranty then you take it back and do the same again.
A lot of the horror stories I hear are people taking 6k miles a year then doing 20k which puts you so far in negative that you have no choice but to car over the negative equity and it becomes a vicious cycle. Take correct mileage and stick to the terms of the contract and it works great!


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Never liked the idea of long term renting a car, seems there's a reason why companies provide this as an option.
Have bought new, reckon if you can at least once buy new a car or decent motorbike is a good experience, I do tend to keep cars for a long time though.
Eventually got into habit of buying 3 year old cars with around 20,000 miles on, if possible with a 5 year service pack, that way bought way beyond could afford new.
Seem to have passed habits on to daughters, all the cars in extended family are totally owned, nothing owing, and yes we're lucky.
 

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Compared to my old life I'm the equivalent of a pauper now, loadsamoney coming when I retire in four years, but for now I have a Landrover that's F reg, 1989 and the BMW is 55 plate, 2005, which I've only had since the start of the pandemic, mid march ish ... Been running Landrovers cheap and cheerful, then expensive and playful, lately expensive and painful! So went for a decent car to sooth my knees and ease the commute to work, saw this at the back of the car lot for £1600 and bought it there and then. I'd always wanted an M3 coupe, but this E46 320cd will do. £1600 seems a lot for the car initially, but right now I reckon it's maybe worth more. Recently (late last year before I got it) had all new bushes, subframes, prop shaft and a few bits and bobs tidied. All that's wrong with it now are a few rust spots on the wheel arches which I'm waiting for paint to arrive and they'll soon be fixed. It's already had an egr delete and the way it moves I have an inkling it's had a re-map, also there's a tuners name and details in the paperwork that came with it, but no invoice! And it's currently showing a fuel return of 44.8 mpg overall, though that's probably optimistic ... Happy .. ;)
 

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If you're going to keep a car for 5-6 years, probably makes more sense to buy a 3 yr old car with lowish mileage/FSH. If you're lucky there won't be any big bills or major MOT issues, and there will be a residual value. Overall monthly cost would work out cheaper than leasing (albeit you're not driving a brand new car).

A lot depends on individual preference and the psychology of 'owning' a car rather than 'renting'...
 

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Used to buy used, but the last 3 5-ers I've bought new, 2 F10s and a G30, a 520d, a 535d and a 530d. Never had less than a 25% discount off list price for factory orders on any of them. Even then, there's still a depreciation hit, but I like getting a car I've specced with all the toys I want.
 
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