What Does It Do?

Our personal 'Lease or Buy' analyser can help you cut through the issues around how to finance your next new car.

The analyser can compare the cost of funding a new car by:

• buying outright;
• finance leasing;
• personal contract hire
• personal contract purchase; and
• personal hire purchase

To do this we use information about your priorities for car finance, the types of product available from us and the car you wish to finance.

We then analyse the costs of the various types of finance plan repayments we can offer for your selected car compared to buying outright with cash.

From this analysis we then calculate which type of funding approach could be more likely to meet your requirements.

If you already have the cash available to buy your new car then our analyser can calculate the cost of using finance to fund your car purchase instead.

To do this we take account of the savings income you might receive from investing the cash instead of spending it on your new car.

Getting Started

To start we need you to provide some basic details about your personal circumstances. You will need to tell us a little about your priorities for finance and some details about your personal finances.

You will need to tell us:

• Whether or not you have the funds avilable (e.g. in savings) to buy your new car.
• If you do:
  • The investment or savings return (e.g. interest rate) you expect to receive on the money invested.
  • Whether or not you live in Scotland (tax rates are different in Scotland compared to the rest of the UK).
  • The highest tax rate you expect to pay on your savings income.
  
  
• Your priorities for vehicle finance, for example whether a lower monthly payment is more important than the total cost of finance, or if the .

Why do we need this kind of information?

Matters such as your savings, investments and tax rate all impact on whether it's better to use your own money to fund a new car or use a finance plan instead.

These factors are in turn influenced by your priorities for finance - for example, you might want to keep down the total cost of finance, which you can typically do by paying off the finance in larger amounts each month.

Alternatively, you might want a lower monthly payment to help stay within your monthly spending power, but as a consequence you may have to pay more in total finance charges because you don't repay as much of your borrowing each month.

When you provide this information we don't keep it - it's erased from our systems after you leave our web site.

Remember, though, that your web browser may keep some of the information.

You should therefore consider closing your browser window, clearing your browser history/cache/cookies and any other appropriate security measures after entering personal details into your web browser, particularly if you are using a public computer.

Not sure of the answer to any question?

Don't worry, you can change your answer later if necessary.

Want to know more about personal finance for new cars?

Then click here for more information on the types of finance available from us for new cars.