Personal Car Leasing

[volospian]

OK, with the new job I need a new car. I get a car allowance, albeit not a huge amount, but I don't mind adding some myself to get something nice. The company policy states that the car must be no more than 6 years old when the allowance scheme is renewed, and the scheme lasts for a 3 year period (if that makes sense...) so my options are:


My first thought was that I would get a loan and buy a used car, but the car must be less than 3 years old or I may have to change it after three years as it would be on the cusp of 6 years when the next three year period starts. Now, obviously I could get a decent spec vehicle, but I would be restricted to a personal loan for this option and they're not that cheap...

I could buy a brand new car. To keep the costs down a bit, I could buy it on one of those "you'll still owe us this much after 3 years" deals and then either get a new one at the end of the finance, of if I like it, buy it outright and pocket the allowance for a few years. For the repayments I could afford, this may restrict the levels of trim and options though..

Lease a car on personal lease contract. This, after a few quick searches, seems to be a cheaper up front cost, with similar payments to the new car finance options (depending on make and model, of course) but you don't end up with anything at the end of the scheme. Again, I may have to take a hit on trim and options....

I don't necessarily mind not ending up with anything as I'd buy it on a GFV type finance deal from a deal, so I'd still potentially end up with nothing there anyway... My leanings are towards second hand, but I do like the idea of owning a brand new motor.

What have you guys done? Any advice? Thoughts?

And before anybody starts suggesting suitable vehicles, it can't be a convertible