You should at least consider a car leasing deal with nil deposit (nil advance), as it will allow you to keep cash in your "pocket" by not making a higher advance (down payment) at the begining of the contract.
Remember, the higher the amount you pay at the start reduces the remaining balance of the "contract value" and therefore reduces your monthly payments. Therefore, no deposit (nil advance) deals will typically result in the monthly payments being higher.
The table below shows an example comparison for a 4yr deal with (A) Nil advance being whereby the first payment is for the first month only and (B), the advance is equivelant to 6 months of the contract value
|Contract Value||Advance (equivelant months)||Contract Months (1st inc in advance) ||Contract Paid|
|A/ £4800||1 x (£4800/48) = £100||47 x (£4800-£100) = £100||£4800|
|B/ £4800||6 x (£4800/53) = £543||47 x (£4800-£600) = £90||£4800|
|*values have been rounded.|
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