...The figures aren't quite as close as you say though...
The Aygo I looked at was £185 a month - 35+3 - which comes to £7,030.
Same car was £7,300 on drivethedeal.
I reckon it would be worth around £3,500 to £4,000 after three years.
The contract hire car is worth zero to the punter - big difference.
Much dearer cars make more sense.
Very roughly, £400 a month - £15,200 - will get you a £28/30K Merc or BMW.
If you bought the car, it might make £12/15K in three years, so the nett cost to you is about the same, contract or buying outright.
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Contract hire makes no financial sense to.. new
Contract hire makes no financial sense to.. new