@Kyle de Klerk 🇿🇦
3 more examples of the Buy < Lease < Rent equation based on @Vanessa2909 's Hyundai i10 rental above:
High mileage example:
this Oct 2014 Hyundai i10 with 150 000 km on the odometer
engine & drivetrain: 1086 cc Petrol manual
body type: 5-door hatchback
price Rs 155 000
+ Rs 9800 registration fees + Rs 300 other fees
monthly repayment: Rs 1137 (estimated)
to RENT this car is Rs 14 600 per month (estimated)
to LEASE this same car requires a 15% deposit = Rs 23 250 and a repayment of Rs 3 174 per month over 4 years.
MyCar Mauritius Reference # 51755
https://www.mycar.mu/car/buy/51755
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Medium mileage example:
this 2015 Hyundai Grand i10 with 123 045 km on the odometer
engine & drivetrain: 1.2 Litre Petrol manual
body type: 5-door hatchback
price Rs 300 000 (negotiable)
monthly repayment: from Rs 2201
to RENT this car is Rs 14 600 per month (estimated)
to LEASE this same car requires a 15% deposit = Rs 45 000 and a repayment of Rs 6 180 per month over 4 years.
lexpresscars Reference # 272611
https://www.lexpresscars.mu/listings/us … ual-272611
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Low mileage example:
this 2022 Hyundai i10 with just 6800 km on the odometer
engine & drivetrain: 998 cc Petrol automatic
body type: 5-door hatchback
price Rs 635 000
+ Rs 13 000 registration fees + Rs 300 other fees
monthly repayment: Rs 6880 (estimated)
to RENT this car is Rs 14 600 per month (estimated)
to LEASE this same car requires a 15% deposit = Rs 95 250 and a repayment of Rs 13 062 per month over 4 years.
in this low-mileage example, the monthly Leasing fee comes close to the Rental fee (but if you rent, you will most probably receive a higher-mileage car showing more wear and tear).
** I have used R14 600 per month as the Rental in all 3 examples, which is not really accurate, but when you rent you are not able to choose which specific car you get and how high its mileage is. (R14600 is the amount given higher up in this thread to rent a similar Hyundai i10).
MyCar Mauritius Reference # 51983
https://www.mycar.mu/car/buy/51983
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link to lease calculator here:
https://www.mycar.mu/car/get-a-lease-loan
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