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Lease or buy?

Thinking of selling my 15k 2009 (09) Fiat 500 1.2 Lounge for £7k to help with my finances.

Should I buy a small car around the £2k mark, or should I lease a similar car (engine size, mpg etc.) for 3 years, between £2,500-£3,500 if such a deal exists?

My reasoning is this, road tax is included, MOT would not be needed for the 3 years and I would have a manufacturers warranty, and I may save myself money, by not having to pay out for MOTs, repairs etc. if I were to buy an old car. After the three years I would reassess my position and either go for a very cheap and old run-around or lease again.

Asked on 18 February 2012 by Charlie Mason

Tags: buying leasing
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