Car Leasing - does anyone on Monzo do it?

So I just wondered if anyone on Monzo has a lease on a car rather than owning?

Me and my partner have been considering it, after a number of trips we’ve needed a hire care this year, it’s probably sensible to look into a car.

(Also, we bought a Vintage Car earlier in the year which has just been a money pit).

Does anyone here lease a car, and have any views on the whole thing? Should I just avoid it and buy a decent used car?

Would love to think what people here think!

Yes I lease my car, due a new one next year and may move to my works leasing company who offer some really good pricing for non company cars.

For me personally it works out well. Fairly low mileage and I just need something to get me to my destination!


I have leased and the all inclusive option can be great as you just need to worry about booking stuff rather than how to pay for them. We do PCP now so while we can hand the car back after 3 years we need to sort insurance,tax,service etc ourselves.


carwow Is a great tool to gauge best prices for buying or PCP but they also have a leasing section.

My referral code should you choose to take a look:

We got something like £5k off our focus through them. And I’m considering the leasing for an XC-40. But seems no one has stock for a test drive :man_shrugging:t2:

Full disclosure: using the above link and successfully buying a car gets me £50 Amazon vouchers :pray:t2:

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Not heard of that site before, will need to remember it when my lease is up, thanks!

It’s great as you can spec what you want and know what your starting point is when you visit a dealer. If they can’t match it and you like the car (test drive etc) then just buy off the carwow dealer. Most of the dealers are on there now too so your bound to have a local one on there.

Good to know thanks! I’m quite keen to go all electric next year if the Scottish Government continue their interest free loans for electric cars but I’m also quite keen to continue leasing especially with electric not being totally main stream yet. :thinking:

(Apologies for thread hijacking!)

Yeah same here. Though I think we are still 2 years away for the model 3 and the new leaf does not have the range or ability for multiple fast charges in a day. Though I believe a 60kw version is due next year that will increase range and allow multiple fast charges. So it may be a contender then.

No other fully electric cars appeal right now or are not in my price range.

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I started leasing cars when I was about 23, it was my first car and it was a bloody bargain.

I’m still leasing now and I appreciate the reliability and the lack of responsibility for the health of the vehicle.

Dropping several thousands on a car with no guarantee of how long it will last or how much it will cost to fix when it does go wrong is something that concerned me massively.

I have friends who constantly sink money into their used cars just to keep them going. They fix one thing and something else goes wrong.

My original car was only a year lease because I was concerned about a long term commitment, but the longer you lease the cheaper it costs in the long run due to the fact you don’t have to pay a deposit on a new one as often. I’m about to extend my lease by another year because I love the car.

I’d buy a house, but unless I had buy outright cash lying around I’d never bother buying a car.

Anecdotally my bosses who have been fairly wealthy have owned their homes but leased their cars, but my second boss was majorly wealthy and had a collection of purchased cars.

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Depending on where in Glasgow you are, you should look into Enterprise Car Club. Really good, you just pay for the car on an hourly or daily basis as you need it. No maintenance, tax, anything to worry about. They have electric ones in Edinburgh, I imagine in Glasgow too. But also you can get a smaller or larger car (or a van) depending on your specific needs on the day.

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I just reserved a new vehicle today. It’s my second lease and the first one was a great experience.

£170 a month to drive around a brand new car isn’t too bad when people spend nearly £50 to £70 a month just getting the latest iPhone.

I’m replacing my 17 year old Golf which still works but is starting to feel a bit unsafe and getting a little too expensive to maintain.


Personally I’ve always hated leasing cars. It feels like a huge money pit when you not only lose about a third of the value of the vehicle when you drive it off the forecourt, but you also have to pay a lump sum based on the value of the car when you originally leased it to own it after driving it around for years.

I recognise the value in the upgrade cycle, but I’ve always just taken out a bank loan (at a lower APR) to cover any extra money I need to purchase a car!

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Car wow seems interesting - better prices than I’ve seen elsewhere.

Trying to balance the short term benefit bit over the money pit side - seems like with the right deal could be an optimum scenario.

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From my dealer:

“We offer Mainland UK delivery free of charge. We are a Hyundai main dealer, all vehicles include road fund licence and breakdown cover for the duration of the contract*. We don’t charge any additional fees such as admin, processing, documentation or broker fees.”

So basically I’m just playing a flat fee of £170 a month. No down payment or admin fees or anything else.

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Thanks just had a look and there’s none near me! I tend to leave about 6:30 each morning to drive to Edinburgh so would need one very close to me!

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Hi Ravi,

It’s usually very flexible, at the discretion of the broker and depending on how much you have available for a deposit and how much you can afford monthly. This just means that your monthly payment is more expensive.

You can pay a £1000 deposit and £100 a month for 12 months
Or a £0 deposit and £183 a month for 12 months

Either way you’re still paying the same amount :blush:

I’m on my third PCP, although this time on a second hand car. I was actually part-way through my second PCP (2 out of 4 years) when I got my third as I hated my second car. The dealer bought the car on the 2nd PCP at a small loss based on the current market value (probably because they could sell it for more). I only waited 2 years because I thought transferring PCP between vehicles wasn’t an option, but apparently it is and I’m happier (and better off) now.

Now I’ve moved job to walking distance, and my partner is looking into remoting so they can move in with me, I’ll probably get rid of the car when the PCP is up and not have to worry about it. Might replace it with a little electric for running about town and the occasional longer journey, but we’ll see how the market is in 3 years.

Yep. I always do the maths and wonder why anyone would pay the lump up front when the total over the term is usually only a few £s different.

In this case I was more impressed by the fact that there weren’t any other fees on top, which can usually add a few hundred quid.

Do you mean specifically for leasing?

For PCP the remaining monthly is subject to interest (unless you find 0%) so the more you can pay up front the better.

Yep. Never done PCP. Leasing just feels far simpler to me.

Makes sense that interest would come into it though.