When I look at private lease deals on the various websites, there is very little price difference in a 3, 4 or 5 year lease. In some cases the longer terms are actually more expensive. Why would this be the case?
It’s true that the monthly cost may not be a vast amount less, but you have to do the maths on the monthly payment multiplied by the number of months and then compare the total life cost. Even on the monthly payment alone, a £30 a month difference adds up to over £1k in the first 3 years alone, yet our AP’s are the same whether we keep the car 3, 4, 5 or, in some cases, more years. I’ve not seen any that are more expensive, but don’t doubt that they exist. May be to do with things like servicing, maintenance or warranty cover, but I’m guessing as I don’t think many include this.