Leasing vs Buying vs Finance – The Real Comparison 1. What “Leasing a Car” Actually Means In the UK, leasing is usually: Personal Contract Hire (PCH) (true lease) Or confused with Personal Contract Purchase (not the same!) Key truth: Leasing = renting. You NEVER own the car. Subscribe REAL EXAMPLE (UK, 2026 typical numbers) Let’s compare a £30,000 car over 3 years: Option A: Lease (PCH) Initial payment: £2,000 Monthly: £350 × 36 = £12,600 Total paid: £14,600 You return the car Cost per year: ~£4,866 Ownership: None Option B: PCP (most common trap) Deposit: £2,000 Monthly: £400 × 36 = £14,400 Balloon payment: £12,000 Total if you KEEP car: £28,400 But most people: Don’t pay balloon Trade it in and restart Reality: you’re permanently leasing with extra risk Option C: HP (Hire Purchase) Deposit: £2,000 ...
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