Car lease - why so cheap?

[Tiggsy]

After years of buying slightly used cars I am fed up with dealing with MOT's, servicing, etc...so thinking of a lease.

Without getting bogged down in details it seems that the cost of a 24 month lease is less than that of getting a personal loan for the same car 2 years old and putting it over 4 years.

Now, i realise that in 2 years with the lease i own nothing but with the personal loan in 2 years i will then own a 3/4 yr old car and still have 2 more years to go. If i just lease again then in 4 years i have nothing with a lease versus a stty old 5/6 year car that has gone through MOT's & servicing and now worth spare change.

Am i missing something or (assuming i want a new/nearly new car) is leasing not just massively simple and not much (if any) different in cost....accepting that i never get to own a 6 year old shed (which i dont want to anyway!)

[Tiggsy]

ok....i understand wear and tear and milage (we are a two car family so i can always swap with wifey (who drives very little) to balance my useage if needs be)

As for the get out cost - given that the deal i am looking at is about £12k over 2 years.....worse case is its going to cost me, say £10k after a couple of months. If i went and bought a £40k+ car and tried to offload it 2 days later i'd drop more than that!

Seems a sensible way forward....just trying to resit the temptaition to add extras when i know i'll be giveing them to someone else in 2 yrs! For example...£2k Mercerdes sat nav pack out, TomTom in!

[Tiggsy]

makes sense then....thinking about it - if you'd bought that car cash and sold it at 18 months you'd have been even worse off!

[Gibson70]

Or you can hire a car on a long term hire - Apex Car Rental or other car hire companies would be willing to rent out their cars cheap on a long term basis!

My sister hired a Golf 2.0TDI - 2000 miles limit per month x 12 months = £299 plus VAT per month. Bargain !