[Closed] Car leasing, anyone here do it??

I just looked at the Skoda link for starting point.

Headline - £135 per month ! Well that sounds quite good.

£2090 deposit, 8k miles pa, 7.2ppm excess mileage.

For my 20k miles pa: (£2090 + (23 x £135) + (24,000 x 7.2p)) / 24 = £288.46 per month effective.

Nearly £300pm. Much less interesting now.

johndoh - Member
Yeah if I saw something like that I would dive on it.

It was only bloody yesterday that you said most definitely you didn't want to lease a car:

That is what the garage recommended but I want to focus on buying rather than renting this time around.

[quote=FuzzyWuzzy ]When I looked at personal leasing it only really seemed to make sense if you had to have a new car and were prepared to pay a premium to have some of the hassles taken out of ownership. What it wasn't was a good way of getting a car if you didn't have a lot of cash so your choice of secondhand cars was limited.

Exactly. I appreciate some people do like a new car, but even on a contract it's a blinking expensive way of having a box to transport yourself around in. I'm not entirely sure if the OP is determined to have a new car.

Checking the ling prices, the cost to run what I currently own for 3 years is almost twice what I've paid in total including repair bills over the 3 and a bit years I've had that. OK so mine isn't new and shiny, but from a functional POV I'm struggling to see the difference, and I'm not sure shiny is worth all that money to me.

My Mrs is looking to buy a car to replace her nail of a thing that I'm currently being forced to drive.

Her options at the moment are other nearly nails at around £2000 which will be worth sod all in 2 years time.

On the other hand she could get that VW Up deal at £100 a month for 2 years and £100 deposit and enjoy hassle free motoring.

Seems something worth considering.

options at the moment are other nearly nails at around £2000

You can buy a perfectly good car and get years of hassle free motoring out of it for £2000.

It was only bloody yesterday that you said most definitely you didn't want to lease a car:

You can buy a perfectly good car and get years of hassle free motoring out of it for £2000.

There really aren't that many cars around for less than 2k that will be as safe and efficient as a new motor. What sort of stuff would you go for?

"efficient as a new motor"

It would have to be a VERY efficient motor to make ANY savings at all from fuel after you factor in the monthly cost of the car....infact it would have to emit money as you drove along....

There really aren't that many cars around for less than 2k that will be as safe and efficient as a new motor. What sort of stuff would you go for?

My old Yaris and £1000 change?

I just looked at the Skoda link for starting point.

Headline - £135 per month ! Well that sounds quite good.

£2090 deposit, 8k miles pa, 7.2ppm excess mileage.

For my 20k miles pa: (£2090 + (23 x £135) + (24,000 x 7.2p)) / 24 = £288.46 per month effective.

Nearly £300pm. Much less interesting now.

Yes, you've got to be able to make the deal work for you.

But two things - that's a £25000+ car, and I got a better price at 3.5ppm.

Doesn't always work for big milers - although it's worth asking them for a fresh quote based on your mileage rather than using the extra mileage figure.

It would probably be a better deal on PCP.

Rone, did you go with the 8000 miles a year?

Yes. You can have the quote for any miles.

My extra is only £35 for every thousand miles.

All comparisons with second-hand cars frustrate me.

It's silly. You are not comparing like for like. You can always buy cheaper but not if you want a brand-new car.

"Ooo I own a Turner Czar but could buy a perfectly serviceable Halfords' special from gumtree for £13."

Stupid comparison.

If people want to buy used cars - great - I've done that in the past but now like a *New* car.

It will see no wear and tear costs and no MOTS. For me it's worth that lack of hassle in spades. No Tax and 1 Service in two years.

I've just zipped down to the Alps and back. I wouldn't do that in a used that car that I purchased from week 1. Each their own.

And a Yeti is not a Yaris.

^ Agreed.

And I don't agree about being able to get a good car for £2k - you *might* get a good one, you could equally get a heap that requires expensive repairs.

All comparisons with second-hand cars frustrate me.

It's silly. You are not comparing like for like. You can always buy cheaper but not if you want a brand-new car.

Correct, but if you're looking at PCP or HP as a way to a reliable car then it's not a daft comparison. There are perfectly reliable cars which are not brand new and will cost you a lot less over the period of ownership.

Correct, but if you're looking at PCP or HP as a way to a reliable car then it's not a daft comparison. There are perfectly reliable cars which are not brand new and will cost you a lot less over the period of ownership.

There is no way of being sure of that. Do second hand cars not depreciate?

Last second hand car I bought was a CRV - £10000, it was not cheap to service and lost about £3500 in two years.

I would be forced into someone else's idea of a car for my needs just for it to be cheaper.

Besides it's still not like for like. A second hand car is not a new car.

everything can fail and be hassle.....

new buys you a warrenty that lets you just throw the car back at them.

i wouldnt zip to the alps in week 1 ownership of any car new or otherwise.

Still remember my dad calling out the AA to his broken down BRAND SPANKING NEW vectra 120 miles on the clock when he phoned them.

They couldnt work out what had happened till they pulled the sump plug and found 50ml of oil - thats a new engine thank you.

I think we're going to go down the lease route when we decide to change the boss's 330.

It's been a great car but it does have a drink problem and with VED increasing each year it's got to the point where I'm not sure it's quick enough to justify the general running costs. It was bought second hand and based on WBA, its lost about £3k in three years so not too bad.

There are some cracking deals on Golf GTi's at the mo and my other half doesn't do many miles so we should be able to take advantage of the headline deals. Sensible deposit in the deal we're looking at too. Having got a few quotes on PCP's we can't get close on a monthly cost basis with a similar deposit etc.

The big downside appears to be the never ending cycle of finance / changing cars but if I'm honest are a couple of years I start to loose interest anyway!

There is no way of being sure of that.

A second hand car is not a new car.

This confirms - you are paying premium for a new car and confidence in a car. You are not bothered by cost.

I refuse to pay the premium, as I am not bothered about new and can be as reliable second had. I am bothered by cost.

The lease deals 'work' for low miles, small or fast cars IME, nothing else.

(And our 'old', 100,000 mile Galaxy tore past the Alps on the way to Southern France with five bikes, two canoes and us five for a fortnights holiday. I had no qualms at all about it making the trip.)

We lease a Nissan Leaf, it works out the same cost as running the previous car which was a 10year old multipla.. Most of that saving is the reduction in fuel cost though..

czthompson - Member

We lease a Nissan Leaf, it works out the same cost as running the previous car which was a 10year old multipla.. Most of that saving is the reduction in fuel cost though..

This astounds me, I just looked at a leaf as a car for my GF as she wouldn't use it much and certainly not any further than half its range for a day, I thought it might work out cheap but its £330 per month on Lings!!! How were you spending that much on an old multipla? you can buy one on autotrader for less than the deposit lings want!

This confirms - you are paying premium for a new car and confidence in a car. You are not bothered by cost.

Not bothered by accounted for cost, I could buy a 2nd hand 10 year old motor for £2000 and it could need more than the cars worth of stuff doing in a years time.

Cambelts, mots, tax, etc etc. The right car at low payments can cost nearly the same overall with less hassle, I am only talking a small car here though.

I could buy a 2nd hand 10 year old motor for £2000 and it could need more than the cars worth of stuff doing in a years time.

How many £2000+ bills have you had in a year on a second hand car? That's some pretty poor research and buying skills if that happens.

FWIW the Pistonheads thread confirms that the Passat deal mentioned above was a mistake.

No shit!

How many £2000+ bills have you had in a year on a second hand car? That's some pretty poor research and buying skills if that happens.

Following previous experiences, I'd only ever buy used from a main dealer.

Why not privately?

No shit!

How come you get to say shit and we can't ? 😀

Edit - ooh, we can !!!

The lease deals work for me. And I've had neither small or fast cars on lease.

It works out perfectly; all the leasers and purchasers of new cars help create a boyant second hand market for those who want to own second hand.

I've no interest in a 2K car, looking for one, paying for one or maintaining one. I did that between the years of 17 and 35.

I may revist that experience once I retire.

My nephew got real unlucky with his first car. A seemingly decent second hand deal for 2k actually.

Long story short the car was a disaster - we got nearly all the money back. It was 2k to insure too.

We got him a PCP citigo for £109 a month (£500 down) - and his insurance on a brand new car was £600. That's £1400 less than the used one.

Yep, it was way cheaper to insure a 9K brand new car than a 2K runabout.

I love my leased BMW. It includes tax and because it's a new car, there is no MOT or servicing to worry about. The price is the price. Mine was £300/ month, but you can still get great deals for ~£150/ month (eg Skoda Yeti).

Now that my lease has almost ended, I'm trying to save money by buying a used car and I'm finding it pretty hard to find anything that will work out as cheaper motoring. Given the cost of used cars, the depreciation, tax, MOT, servicing etc I think the right lease is probably as cheap as anything else.

Most are limited miles though so no good if you're doing big mileages.

Why not privately?

Yeah I'd second that. Fewer than 10% of cars listed on autotrader / eBay etc seem to be privately owned. At least in the age / mileage / style I'm looking for.

Probably because basically everyone is leasing new cars (or buying on PCP) so they all end up back in trade networks.

[quote=rone ]We got him a PCP citigo for £109 a month (£500 down) - and his insurance on a brand new car was £600. That's £1400 less than the used one.
Yep, it was way cheaper to insure a 9K brand new car than a 2K runabout.

I'm not entirely sure what you think that's proving. Probably the insurance on a s/h citigo would be £600 and the insurance on a new version of whatever he had before would be £2k.

[quote=Superficial ]Given the cost of used cars, the depreciation, tax, MOT, servicing etc I think the right lease is probably as cheap as anything else.

It's really not - I mentioned my figures above, to lease what I currently own for 3 years would cost almost twice the amount I've paid all in. If I wanted to I could sell it right now and reduce my costs to less than half the lease cost - instead I'll have an even cheaper next 3 years. If I'd got something a bit shinier s/h then my costs might be similar to the 3 year lease, but I'd still have a significant asset in the car. There's something seriously wrong with your calculations if that's what you reckon.

I get that people want to have a new car - that's fine, if that's what you want. But don't pretend that you're not spending a big chunk of money for the privilege of having a shinier box to transport yourself around in.

I'm not entirely sure what you think that's proving. Probably the insurance on a s/h citigo would be £600 and the insurance on a new version of whatever he had before would be £2k.

It's proving that the new car was cheaper to insure than the 2K runaround. You wouldn't get a Citigo for 2K (at least back then) so there is no comparison. For it to work in his case he would have to have a used Citigo on finance - and used finance is much more expensive from the dealer.

Maybe works if he'd have bought a used Citigo outright(which he couldn't have done) but then you could've had the money sat in the bank and be benefitting from a brand new one on 0%.

So yet again for my money that the new car wins out.

rone - Member

I'm not entirely sure what you think that's proving. Probably the insurance on a s/h citigo would be £600 and the insurance on a new version of whatever he had before would be £2k.

It's proving that the new car was cheaper to insure than the 2K runaround. You wouldn't get a Citigo for 2K (at least back then) so there is no comparison. For it to work in his case he would have to have a used Citigo on finance - and used finance is much more expensive from the dealer.

Maybe works if he'd have bought a used Citigo outright(which he couldn't have done) but then you could've had the money sat in the bank and be benefitting from a brand new one on 0%.

So yet again for my money that the new car wins out.

No his point was if your 2k car was a Corsa then its likely a new version of that would be the same insurance. In buying a citigo you went into a different and much cheaper insurance band, so a fair comparison would've been a s/h car of the same ins-band. I.e. something also of shoe-box size proportions 😆

To add my son to wifes 10yr old 1.4 clio was just shy of £1000 to add him to the new 1.4 corsa was £500. New car was cheaper to insure than old car.

It's really not - I mentioned my figures above, to lease what I currently own for 3 years would cost almost twice the amount I've paid all in.

I think leases they make alot of sense if your car is a tool to earn you money

for most folk an unchipped pedelec from WCA makes more sense than a hired car - and a hired car/commonwheels car club for the long trips.

I like leases because as rone points out - it lets me have a good choice of used cars to buy cheap.

"A colleague had a nice audi quattro, only 6 odd years old and that's what was about to happen to his car (I think). He sold it to a 2nd hand car place with no disclosure but had he not found out, it would have just died and been worth (next to) sweet fanny ann."

And this is why i dont touch cars from dealers for the most part - they are a dumping ground for shit cars that peoples conscience wont let them sell privately....

I think one of the main points here is that you're only one major repair away from your figures being blown out of the water. If you get a head gasket go, is it even worth repairing? (I have no idea of the value of your car)

I think the chance of a major failure is low, and based on the costs even if it did you could just chuck the car and go get another one. Chances of it happening twice? Not to mention you still have some scrap value in the first car and the residual value in the second. So still better overall, just without having had a shinier car the whole time.

HGF isnt the coffin nail most folk treat it as.

the issue is that most folk see that the car still runs and drive it till it no longer runs.... by that time the damage CAN be irrepairable or at least much more expensive than it otherwise would have been.....

Its a bit like the crazies on here that scrap/sell a good working car just because it needs a timing belt....

I think the chance of a major failure is low

and based on the costs even if it did you could just chuck the car and go get another one.

yeah like when i rented a flat the landlord picked up the bill when the boiler broke.......

250 quid a month for 3 years on a rental car...... thats 9k. Thats alot of repairs and alot of cars before im in the red.....

my 1400 quid berlingo over 2 years stands me a wheel bearing and a spring on top of routine servicing at 40 quid a pop for filters and fluids.

out of 8 cars(in a 2 car household) over 15 years ive had 1 lemon - it was the expensive car with the FSH - my spidy sense was tingling but the mrs wanted "that" car ..... still lasted 2 years mind !

But i can buy the hassle factor - getting a decent garage is a pain in the hoop and getting them to do repairs in a timely fashion is an even bigger pain in the arse......

BUt its still paying a premium for that convenience how ever the crux for me is that i dont really need the car its a convenience thing because i live out of town and have zero public transport options.

Why do people always insist on comparing cheap second hand car ownership to leasing a brand new car? Apples and pears.

You can't compare bangernomics with leasing though can you? If your car is a necessary evil, you don't do a lot of miles or whatever then obv there is no point leasing one.
Having said that, you can lease a brand new Berlingo from £99/month....think trailrat, a nice new shiney van..... 😀

"Having said that, you can lease a brand new Berlingo from £99/month....think trailrat, a nice new shiney van....."

Ive seen those but i really struggle with it not being my car.

I also struggle with paying 100 quid a month for it to sit on my drive.

How ever if i got a sales job or such like where i was driving around as part of my job then id be all over something like that 😀

I can see the appeal though 99 quid for the use of a new motor for a month isnt alot.

Why do people always insist on comparing cheap second hand car ownership to leasing a brand new car? Apples and pears.

Because the discussion is not usually about how to get a nice car, but how to get any car cheap. That's why most pointing out the cheaper s/h cars are identifying the additional cost of lease as either, 'having nice shiny car' or 'removing uncertainty'.

and based on the costs even if it did you could just chuck the car and go get another one.

You can't possibly know this. There are far too many variables for this to apply in every circumstance/comparison.

Based on how much may mates fork out a month to lease generic child-ferries you could buy something equally boring s/h twice per year, that's 6 cars over the lease period! Yes occasionally you could get a lemon but for the cost you could afford to just chuck it and get another, if just 1 lasts more than 6 months your are winning. And given you don't see cars littering the side of the road id say the chances of a cheap school run car (£1k) lasting a full MOT year would be high.