Can someone please explain leasing etc like im 5yrs old?
Hello I need to get a car. I’m a fairly new driver and have never owned my own vehicle. I have read through some post here and don’t understand a lot of the language. I have a budget of £300 per month max and would really like it something that has the least environmental impact possible but is still reliable (hybrid?). I would really appreciate any guidance and please feel free to patronise me - I’m pretty clueless. Thank you!
Update: thanks for all the helpful comments, feel much better informed now. I have narrowed down to 2 options and would be super grateful for any thoughts/opinions/or just a vote for either one!
1: Get a small loan and buy a cheap but reliable 1L engine used car with low mileage that I will then own (any recommendations for model etc gladly received). I don’t car about features or appearance at all - just cost of running and reliability.
2: NHS salary sacrifice lease before tax and NI on an EV. This is appealing in my circumstances as my salary increase next year to tip me into 40% tax band and I have both student and postgraduate loans. I also like the simplicity of insurance, tax and repairs being covered.
For context my commute is about 35miles each way about 4 days a week. Thank you again for all the advice, I appreciate the time and effort.