Should I buy or lease a car?

You need to keep an eye on your mileage because you can change your contract if you are doing too many or too few miles - they don’t give you anything back if you are under your allowance so when you have about 9 months to go you can renegotiate .

I misread the thread title and thought someone was wanting to rent a cat!

Apologies for my ignorance, but what is a PCP contract? I’m another one looking at changing my car!

This is about the 3rd of these threads lately - there must be a lot of people feeling the need for new wheels.

We have our main car on a PCP contract. We pay so much a month which covers everything except petrol and tyres. You have to specify how many miles per year you estimate you will do. Be realistic about that as the charges for excess miles can be a lot. There is a bubble payment at the end but our cars have always been worth more than the bubble so we have the initial payment for the next car.

We are currently looking at changing cars and are thinking about a plug in hybrid. Our current car has increased in value lately - which I find strange. Even the second car has!

We bought our car cash £30,000+ four years ago. Apparently it has depreciated £5,000 a year since then.
Next time we intend to choose leasing.