To buy or to lease

I’m looking to buy a new SUV, I’ve decided on the VW Touareg after looking at the BMW X5, Mercedes ML and Audi Q7. I’ve decided on the Touareg because it is the cheaper of the bunch whilst still offering a lot of kit.

I now have to make another decision, whether to buy a slightly used Touareg or to contract hire a Volkswagen Touareg. Buying it second hand will mean I have to maintain it myself but at the end of the finance agreement it will be mine. With contract hire the car will be maintained by the leasing company, I just have to pay my monthly payments but after the agreement period I will have to give the car back and have nothing to show for my payments.

The Touareg comes in a few engine options, there is the entry level 3.0 litre diesel, a hybrid supercharged petrol 3.0 litre model. There is a 4.2 litre petrol V8 which has very impressive performance figures. The hybrid model is only available on the newer Touareg, so if I was buying it out right now then that would not be an option for me. If I was to buy the Touareg rather than lease it I would go for the sensible 3.0 litre V6 TDI as it offers excellent fuel economy and is cheaper to buy.

Trim level wise I would like the model that comes with air suspension, that way I don’t have to decide between the SE, Escape or Altitude models. The suspension on SE cars gives a great balance of comfort and control, the suspension is raised for off roading in the Escape model whilst the Altitude comes with a lower suspension for sporty driving.

So, I know which engine I want and which suspension I want, the colour is not a big deal for me as long as it’s not green; all I have to do now is decide on whether to buy it or lease it. I think I’m going to have to discuss this with the other half in great detail!

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