Lease a new car for less than a used car PCP finance deal

  • Drive a brand new MINI for less than a four-year old one
  • Lease monthly payments typically lower than PCP finance
  • Used car finance often very pricey due to high interest costs

With 91% of new cars being purchased on some form of car finance, monthly payments are far more important to most drivers than cash prices. And if you want the lowest monthly payments, it’s PCH car leasing that often provides the smallest instalments – typically coming in at less than an equivalent PCP finance scheme (with like-for-like contract terms).

Despite this, far more drivers currently take out PCP finance than leasing. If you’re not bothered about owning your car outright at the end of the contract, however, leasing could mean the difference between running a brand new car on a lease – and saving money – compared with getting PCP finance on a four-year old equivalent.

We’ve carefully selected some of the best value car leasing deals currently available from our leasing partner ZenAuto.* These will help you to put a desirable car on the drive for less per month than you might think. Shop around and you could find yourself leasing a brand new MINI Cooper 5dr for less than a four-year old, 48,000-mile version on PCP finance.

PCH car leasing

Keep reading to discover how to get the best car for your monthly budget. And click to find out everything you need to know about PCP finance and for the Parkers guide to PCH leasing to decide which form of finance is for you. Plus, in the meantime, you can check out the best value finance deals available now:

Lease a new £18,130 MINI for less than PCP finance on £9,750 2014 version

Want the best car for your monthly budget but don’t need to own it? PCH leasing can get you far more car for your monthly budget than a traditional bank loan. That’s because while you pay for the whole cost of a car over a loan, leasing is effectively like long-term rental where you hand the car back at the end of the contract.

However, even just choosing leasing over PCP finance (where you have to make a large optional final payment at the end of the contract if you want to own the car) could make a big enough difference to step from a well-used second-hand car to a new model.

MINI Hatch 5dr PCH lease deal

In the case of the MINI Cooper 5dr, you could lease an £18,130 brand new model for just £191 per month from ZenAuto* compared with payments of £195 per month for a 48,000-mile £9,750 2014 equivalent on PCP finance currently available from a MINI main dealer (both 48-month contracts with a £449 upfront payment and 8,000-mile-per-year limit).*

Meanwhile, a 2016 34,000-mile model could set you back as much as £286 per month from a MINI dealer – nearly £95 per month more than the new car lease (with identical contract terms). That’d cost you an extra £4,465 over four years. Better still, the leasing option includes VED road tax and most leases give you the option to add on a service pack, simplifying life further.

This isn’t the only new car lease that could get you a better car for your money than a used car PCP deal. Read on to see how to get a desirable new Fiat 500 for £32 per month less than a two-year old 18,000-mile equivalent and for savings on the super-popular Nissan Qashqai SUV.

LEASE: MINI Cooper Classic 5dr

  • Monthly cost: £191 (47 payments)
  • Upfront payment: £250 (plus £199 admin fee)
  • Total amount payable by customer: £9,426
  • Cash price: £18,130
  • Mileage allowance: 8,000 miles per year

View details of this lease deal here

PCP: 2014 MINI Cooper 5dr (47,915 miles)

  • Monthly cost: £195 (47 payments)
  • Upfront payment: £449
  • Total amount payable by customer: £9,604
  • Cash price: £9,750
  • Mileage allowance: 8,000 miles per year

Save £32/month with new Fiat 500 lease compared with PCP finance on 2017 model

The Fiat 500 is one of the best value cars to lease currently, coming in at just £140 per month on a four-year contract (£449 upfront payment, 8,000-mile-per-year limit). In fact, it’s such good value that going for the new car could save you £32 per month compared with dealer PCP finance on a two-year old version with 18,000 miles on the clock for £172 per month (with matching contract terms).*

Fiat 500 PCH lease deal

Choosing the new car gets you a £13,640 Fiat 500 for less than a 2017 model that has already had two owners and has a cash price of £8,995. So you could get a factory-fresh new car and around £1,500 in change over four years to put aside for the deposit on your next car – in turn reducing your future monthly payments.

LEASE: Fiat 500 1.2 S

  • Monthly cost: £140 (47 payments)
  • Upfront payment: £250 (plus £199 admin fee)
  • Total amount payable by customer: £7,029
  • Cash price: £13,640
  • Mileage allowance: 8,000 miles per year

PCP: 2017 Fiat 500 1.2 S (17,809 miles)

  • Monthly cost: £172 (47 payments)
  • Upfront payment: £449
  • Total amount payable by customer: £8,515
  • Cash price: £9,094
  • Mileage allowance: 8,000 miles per year

Nissan Qashqai: new-car lease £244/month, 2016 model £250/month on PCP finance

High interest charges of 12.4% and 10.9% on the used MINI and Fiat bump up the costs and make them pricey cars to finance from the dealer. Dealer finance on used Nissan Qashqais may typically have lower 9.9% APR interest charges, plus a £400 deposit contribution discount on some models, but a new car lease could still prove cheaper than PCP on a three-year old equivalent.

Nissan Qashqai PCH lease deal

Opt for a new Qashqai in popular 1.3 DiG-T petrol form in well-equipped N-Connecta form and it’ll set you back just £244 per month (on a four-year contract with a £449 initial payment and 8,000-mile-per-year limit).* A three-year old 23,000-mile equivalent, however, could cost you £259 per month – despite its £14,995 price compared with £23,595 for the new car. That difference could amount to more than £700 over four years.

LEASE: Nissan Qashqai 1.3 DiG-T N-Connecta

  • Monthly cost: £244 (47 payments)
  • Upfront payment: £250 (plus £199 admin fee)
  • Total amount payable by customer: £11,917
  • Cash price: £23,595
  • Mileage allowance: 8,000 miles per year

PCP: 2016 Nissan Qashqai 1.2 DiG-T N-Connecta (22,868 miles)

  • Monthly cost: £259 (48 payments)
  • Upfront payment: £449
  • Total amount payable by customer: £12,881
  • Cash price: £14,995
  • Mileage allowance: 8,000 miles per year

Want to lease your own car? Check out the Parkers leasing search

If you think leasing might be for you, why not visit the Parkers leasing search tool, which shows deals from our leasing partner, ZenAuto.*

Whether you’re after a budget city car or a great value SUV, it’s always worth comparing the cost of difference finance options to see which works best for you. If you’re not sure whether PCP finance or PCH leasing suits you best, check out the Parkers guide to car leasing vs PCP finance.

Looking to learn more about car finance? Take a look at the stories below:

*Deals are correct at time of publication. Everyone’s financial circumstances are different and credit is not always available – Parkers cannot recommend a deal for you specifically. These deals are indicative examples of some packages available this week. Bauer Consumer Media Limited is an appointed representative of ZenAuto Limited for the broking of regulated hire agreements. ZenAuto Limited is authorised and regulated by the Financial Conduct Authority. ZenAuto Limited's registered office is Number One, Great Exhibition Way, Kirkstall Forge, Leeds LS5 3BF. ZenAuto Limited's company registration number is 10967345. ZenAuto is the trading name of ZenAuto Limited. Terms, conditions and exclusions apply.