autos

Top leasing deals: BMWs and Range Rovers for less than a PCP


Deal

List price: £31,995; monthly cost: £439; initial rental: £3950; term: 48 months; annual mileage: 8000

Land Rover Discovery Sport P200 R-Dynamic S

After a recent refresh, the Discovery Sport’s appeal is greater than ever. Packing the premium lustre of a Range Rover into a relatively compact seven-seater with unrivalled off-road ability, it’s a hugely capable family car. Sure, the turbo petrol engine has a lot of work to do, but it’s sufficiently smooth and mated to a hassle-free nine-speed automatic ’box, while the chassis delivers a fine blend of sure-footedness and suppleness on the road. It’s a better 4×4 by far for those who enjoy driving.

Deal

List price: £41,370; monthly cost: £382; initial rental: £3445; term: 48 months; annual mileage: 8000

How does leasing work?

A lease is essentially a long-term rental agreement, so you never own the car and, unlike with a PCP, you don’t get the chance to buy it at the end of the term. In many respects, it’s an expensive option, because you never get anything to show for your investment, other than use of the car. But the flip side is that the monthly payments are a lot lower than those of PCPs, as is the initial rental or deposit. Most firms will allow you to vary this, but it’s usually six months up front. And given that so few people decide to buy their car at the end of their PCP anyway, instead swapping into another new car, it’s easily arguable that leasing makes more sense.

What to watch out for

As with all financial matters, whip out your calculator before taking the plunge, so you can make sure that eye-catching monthly rental doesn’t hide some nasty surprises.

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Bear in mind leasing makes most sense with higher-value vehicles; with city cars and superminis, your total spend would sometimes be near enough the value of the car.

Read the small print, because most will hand out hefty fines if you exceed your agreed mileage limit or return the car damaged. There will also be an admin fee on top of the initial rental, so make sure you know how much you’ll be paying.



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