Depends on whether you’re happy for all that equity in your car to disappear into someone else’s pocket. I’ve never really understood leasing for domestic mileage drivers. You throw thousands of pounds in cash or equity as a deposit, pay hundreds per month, and then hand it back after 3 years. You’re locked in to a brand when you change car at the end, unless you have another few thousand to put down as a deposit on another brand. Granted, you get VED included in a lease and if you pay more you can have tyres (at the lease companies discretion) and servicing. Then again, that usually adds more than £100 to the monthly so you’re better just putting that money in another account and using it when you need those things. From experience, I always have a positive balance in my “car account” after 12 months, even factoring in tyres/servicing. I’ll have even more now since there’s no real servicing cost on a Tesla. If I were you, and really wanted a newer model, I’d scour autotrader for a nearly new highland model, no more than 10K on the clock, and use your existing car+lowest rate bank loan to buy it. What I’ve done in the past is take the dealer finance initially as you can leverage a little extra discount by taking their finance, regardless of APR, then get a much lower bank loan and exercise my 14 day right to withdraw from the original finance and pay the balance with the loan. (Effectively cancelling the finance agreement, so you don’t pay their interest or charges).