I currently have a leased car which costs me £121 / month (a Citroen C1) which I use to drop the kids off at school and commute to work. My current contract ends in April 2015. I only need a reliable 5 door car to do about 6000 miles a year.
I'm a newbie mustachian and am looking for cheaper options! To buy the car I have now would cost me about £6000, far too much.
Looking at buying an old second hand car anything I have any confidence in (breakdown-wise) is going to cost me about £2000 which over a year is £166 / month or more than my current brand new one. I appreciate that I get to keep that car for more than a year, but even over 2 or 3 years it's still only half, plus the added expense of tax / MOT / servicing etc.
So do I renew the lease and get another C1 (or cheaper if I can find it), or take the plunge and pay more in the short term but less in the long term.