Savvy consumers save over £7k on a new car by choosing leasing over PCP finance during lockdown?
LeaseLoco used data on the site’s most popular cars since 1st April as well as the UK’s top selling cars and compared these to the best value PCP cars.
It paints a picture of consumer car purchasing behaviour during lockdown and shows:
- The average amount saved is £7,150 by choosing a lease over a PCP car deal
- Consumers can save more than £5,000 on a Ford Fiesta, the UK’s most popular car, by opting for a lease over PCP
- The biggest disparity between car leasing and PCP is £9,664 on a Volkswagen T-Roc
- A Mercedes-Benz A Class costs £12,783 on PCP but only £6264 on a lease, saving the consumer £6519
The data also shows how leasing is enabling consumers to get more for their money during lockdown, with premium cars dominating lease enquiries when they do not comprise the UK’s most popular cars bought outright.
Key findings included:
Mercedes-Benz A Class
- Cost of 2 year PCP payments: £12,783
- Cost of 2 year lease: £6264
- Overall saving by choosing a lease: £6519
Audi A4 Saloon
- Cost of 2 year PCP payments: £15,079
- Cost of 2 year lease: £5915
- Overall saving by choosing a lease: £9164
Volkswagen T-Roc
- Cost of 2 year PCP payments: £16,687
- Cost of 2 year lease: £7,023
- Overall saving by choosing a lease: £9,664
Ford Fiesta
- Cost of 2 year PCP payments: £8762
- Cost of 2 year lease: £4480
- Overall saving by choosing a lease: £5,460
Volkswagen Golf 1.6
- Cost of 2 year PCP payments: £11,423
- Cost of 2 year lease: £5189
- Overall saving by choosing a lease: £6234
Ford Focus Hatchback
- Cost of 2 year PCP payments: £11, 302
- Cost of 2 year lease: £5440
- Overall saving by choosing a lease: £5863
Average amount saved by choosing a lease: £7150
- People can afford much more premium cars when leasing. The data looks at the top enquired cars for leasing compared to the top-selling cars in the UK, finding higher premium cars dominate the lease enquiries but are not the top sold UK cars outside of leasing.
Top 3 sold cars in the UK
- Ford Fiesta – £4,283
- VW Golf – £6,234
- Ford Focus – £5,863
Average cost: £5,460
Top 3 enquired cars for lease
- Merc A Class – £6,519
- Audi A4 – 9,164
- VW T-Roc – £9,664
Average cost of lease: £8,449