Car leasing, anyone here do it??

I need 20k miles pa and that always knackers it.

On that PH thread there is talk of some contracts not being too expensive on the excess mileage.
One quoted was VWFS at 7.7ppm – which is at extra £64 a month if you get a 10k lease and drive 20k. That looks cheaper to me than getting a 20k lease.
(obviously – that’s just from a thread I read 2 mins ago on the internet – take it with a pinch of salt)

+1

It’s often cheaper to pay the excess mileage charge than to pay for the total amount contracted. I’ve come across some prices as low at 4ppm including VAT, however there are some that are as high as 35ppm PLUS VAT. Also, watch out for upper limits. Some leases are capped at, for example, 30,000/yr and if you exceed this there’s a penalty.

In the majority of cases its cheaper to top up though. Just a cases of checking the Ts&Cs.

£100 a week, for a car that’s never yours… 😕
That really doesn’t sit well with me.

£2.6k for a bike I rode 5 times last year is ok though. 🙂

Lease via a work scheme and so the monthly fee comes off the pre-tax salary giving tax/NI advantages. It’s an all-in scheme, so insurance, servicing, breakdown cover etc etc are all included. I just put the fuel in.

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

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.

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:

At that price for that car I could completely re-arrange my plans – I wouldn’t get a micro car at that price on a lease 😉

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.

I know naff all about cars. I have been given the shit treatment by 2nd hand car dealers before, and I’d pay a premium just to avoid dealing with that type of scumbag again. Unless you’re a mechanic and in most cases even if you are, you have no idea what the seller or dealer could be hiding. Following previous experiences, I’d only ever buy used from a main dealer.

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?

They don’t seem to exist any more!!!! Every time I have looked, it’s swiss tony type-w**kers only.

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.

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 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.
[/quote]

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.