Buying Vs Lease Hire/Purchase

[drfrank]

Dear All,

I am considering buying an E46 M3 and I have a budget of around £25K. Having had a look around I can get a 2003/2004 with lowish miles on and a few of the toys for my budget.

Over the weekend a pal asked if I had considered lease hire/purchase and directed me to a website. On the site it says I can have a brand new M3 (E46) for £690 per month (similar repayment on a £25K loan).

Has anyone got any experience of lease hire/purchase ?

Any info would be greatfully received.

Thanks,

DrFrank

[Deutscher]

How are they offering to lease you a car that has been out of production for some months?

[Garrett]

£690 sounds quite expensive for a lease on what must be a second hand car.

I bought an E46 M3 Convertible 2 years ago, and factoring in depreciation and repair bills and warranty payments, the per calendar month cost works out around £500.

So leasing does make some sense if you can find the right deal on the right car. I'm seriously considering leasing my next car, and using the cash to pay off a chunk of my mortgage early (compound interest.....)

[drfrank]

Hi Deutscher,

As I said in my original post, I have little experience of lease hire/purchase hire. The link to the site is here:

http://www.allcarleasing.co.uk/quotation/BMW/M3/11...

It seems a reputable company ....?

Just really after information on the pros and cons of lease hire over outright purchase.

Any help greatly received.

[AdamD]

drfrank said:

Hi Deutscher,

As I said in my original post, I have little experience of lease hire/purchase hire. The link to the site is here:

http://www.allcarleasing.co.uk/quotation/BMW/M3/11...

It seems a reputable company ....?

Just really after information on the pros and cons of lease hire over outright purchase.

Any help greatly received.

I reckon those are business rates and also they need VAT added (

All prices are for illustrative purposes only and exclude VAT, except Personal Contract Purchase which includes VAT, and are payable monthly. The finance companies may charge a sales agency fee on personal contract purchases of £150 + VAT.