Car leasing, anyone here do it??

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 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)
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.

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

My colleague thought that!
There is certainly a bit of shiney car syndrome in there, but there is also a peace of mind benefit. You know that if wnything major does go wrong, it’ll be sorted without any spending on your part.

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.
There are pros and cons to each case. It’s nice to own something outright, but it comes with its risks.

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.[/quote]

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.

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

And there is nothing wrong with that at all.
I think personal leases are going to become more popular as company car tax goes skywards (it’s verging on unaffordable now). For people using their car for business, it’s a pretty good option.

And given you don’t see cars littering the side of the road

Very randomn comment.

When I was younger I spent a fair bit on cars.

Now when I hear people spending £300 to lease car and thinking it’s cheap , I just shake my head.

That’s £7,200 thrown away to have a boring and mundane car for 2 years.

Why not get seomthing like this for £5k?

You would probably get £2-3k for it after 2 years.

And given you don’t see cars littering the side of the road
Very randomn comment.

i see plenty cars littering the sides of the road.

most residential areas are overflowing with them infact. Blocking pavements and such……

Why not get seomthing like this for £5k?

You would probably get £2-3k for it after 2 years.

I think this is the limit where a lot of people divert to leasing. In buying at 1-2k you can get a car that is almost disposable as its comparatively less than the lease. At £5k its tying a lot of money into the car and that’s where people get tetchy about expensive repairs and such. The cost of leasing at that purchase price (and return) is not much more, so the safety net of no extra cost lease is seen as worthwhile.

New cars tend to be much safer than old ones too. At least for the occupants!

good point there, STATO – I’m beginning to wonder why I spent exactly £5k on a car now.

Rachel

Stato has it and you still have to insure and tax that depressing Focus you posted as well as MOT, servicing and general running costs such as tyres. You won’t get £2k for that in 2 years I bet £1.5k at the most.

although all things asside that focus is no more depressing than an octavia/golf/mondeo……..

and on its side – you dont have to hand it back at the end of your 3 years and start again…..

but as noted – its not yet in the throwaway catagory.

although all things asside that focus is no more depressing than an octavia/golf/mondeo……..

My mother in law has one, it’s awful. 😀

It’s all done to choice. Some like prefer to get a car of my choice new and trouble free for 2 years. Others go down the banger route to which I can see the appeal and have done myself. I don’t anymore as I prefer the option of a newer car, there’s no right or wrong to either.

This comes up every time there is a lease car thread.

It works for some people and it doesn’t for others, for example it works for those with a car allowance – you always have a car under XX years, you know the outgoings each month etc. Those who do the school run twice a week in a 10 year old car will never make the maths work.

Remember too, this is STW. You don’t need a new car, that is quite correct but you also don’t need a 5 grand mountain bike when a second hand 5 year old bike will still get you up and down hills 😉

But say, keep that Focus 5 years, budget £3k for repairs, MOT, tax and you’re in for £8k.

Leasing @ £250/mth for 5 years and you’re in for £15k plus any remedial body work that needs sorting before you hand back.

You still need to insure both.

£7k + over 5 years is quiet a saving.

I guess it depends on whether you want to save money or have a new car.

We could all save lots of money by buying perfectly good second-hand clothes and shoes. How many of us do that?

I guess it depends on whether you want to save money or have a new car.

I’m not denying that, but the discussion started out about cheap reliable motoring didn’t it? Somewhere on the last page someone claimed you couldn’t run a second hand car for less than the £3500/yr they were paying on a lease; which is ridiculous.

I think we all agree, there’s not a particularly cheap way to a new car, but we’re saying there are cheaper ways to reliable motoring than leasing/hiring.

And now we’re just all going around in circles.

but the discussion started out about cheap reliable motoring didn’t it?

Err no! The thread title should give you a clue 😉

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)[/quote]

I’ve already had my car over 3 years – if it dies tomorrow I’m already thousands of quid up. The figures I’m working on are what it’s cost me over 3 years compared to the cost of the lease – the difference is more than 2 major repairs (and I’m already including DMF/clutch replacement in my costs), you’d have to be really unlucky to lose out on that basis.

Depends how old you’re talking – when I bought mine it was the current model, and I doubt it’s much different now, given the update since was only a facelift. I don’t know what others are comparing with, but I’m basing my comments on second owner cars bought at 2-4yo which are the ones people paying for leases have paid for all the depreciation on. It’s a long time since I’ve bought a car which wasn’t a current model.

If you buy from ling you’ll still have to insure it, pay for servicing (which you’ll have to go to a main stealer for, so will likely cost more than servicing an older car and getting it through an MOT) and tyres. The current valuation on a 2 year older one of those is £2.6k Private poor condition, £3k trade in, so you’re way out – I expect you’ll easily get over £3k in 2 years if you look after it (and if you don’t it will cost you less than not looking after a lease car), hence £2k loss compared to £4.8k for a lease. The only way it isn’t much cheaper to run that is if you use dodgy figures – do you really think a 5yo car loses 2/3 of its value in 2 years? 😯

Leasing @ £250/mth for 5 years and you’re in for £15k plus any remedial body work that needs sorting before you hand back.

You still need to insure both.

So you’ve gone from 2 years to 5 years, while you’re right in 5 years that car will be needing all sorts done. Never had to do any work yet.

Insurance is included. You don’t have to go to a min dealer not for about 10 years.

I don’t buy from ling.

Did somebody mention apples and pears before? You’re talking a way different order of magnitude there – the whole point is that people choose to spend a lot of their money on having a shiny box to drive around in.

“in 5 years that car will be needing all sorts done.”

Such as ?

I think the point is that people often keep s/h cars for 5 years, so you have to look at how much a lease costs over that period.

I’m betting you still pay more for your servicing than I do for mine including MOT – you can’t put that one down as being more expensive for an older car.

My apologies – ling was being touted as good value upthread – where do you get yours from which is much better?

You’re talking a way different order of magnitude there

Why? If the reason to buy a second hand older car is to save money, you could also save money by buying second-hand clothes and shoes. What is the difference?

the whole point is that people choose to spend a lot of their money on having a shiny box to drive around in.

People choose to buy shiny new clothes.

point is that people often keep s/h cars for 5 years, so you have to look at how much a lease costs over that period.

Do they really.

NHS Fleet Solutions.

The difference? The ready availability of a wide selection of good quality s/h cars directly equivalent to new ones. I wouldn’t know where to go to browse good quality s/h shoes or clothes – people don’t tend to lease those so there isn’t lots of availability of s/h ones with little wear.

Though my main point was about the amount people spend on cars – if it was similar to the amount people (who aren’t fashion addicts) spend on clothes then it would be a much less significant thing. There’s a point though – owning a new car is much like being a fashion addict, and getting rid of it before it goes out of fashion 😈

I wouldn’t know where to go to browse good quality s/h shoes or clothes

Any town centre in the UK as the only thing left is Charity Shops. 😀

Well I tend to keep mine a lot longer, but I understand some people change that often. So you’re comparing with an option not available to the general public? Without going into details, would you care to comment on how you’re paying a month, and how much the same thing would be on ling so we can compare?

I already did. The question was who leases a car and I replied.

No idea what Ling charges or others as I don’t use them.

Any town centre in the UK as the only thing left is Charity Shops.

LOL yes exactly

I note that the Skoda Yeti 1.2 deal has gone up by £10 a month since yesterday!

I’m curious as to how the Skoda direct deal is less than half the price of similar deals from other leasing companies for the same car.

I must have missed the ones where you can see some shoes you like and ask for a pair in your size.

Ah, sorry I missed your reply – so you’re paying £7.2k over 2 years – if we knock off £1.2k for the insurance, servicing and tax (which is a bit more than I’m paying) then if you spent the £6k on a s/h one instead you’d have a £4k asset at the end. I still don’t see how it is cheaper.

Thanks for all the replies…just read through every one of them, even more confused now though..
I do less than 10k miles a year and the car would be sat outside the house most of the week as I ride my bike to work 99% of the time and the wife doesn’t drive..
The old V reg Astra we have now does the job we need to a certain degree, and any long trips we do, say a 200mile round trip to lakeside in Essex/Kent from Portsmouth I always hire a car from budget for about £50/60 plus fuel for the weekend,so I get to drive a new car every once in a while and yer it is nice to do that so maybe that’s where I got the idea of leasing from as I don’t have the immediate funds to buy outright and like I said at the start I’m not in favour of 2nd hand car dealers..
I’ve had decent cars in the past (mostly golfs) but had to sell my last one to reduce my outgoings and I was without a car for 6months which was bloody hard, the Astra came up from a friend so I bought it as I knew the history of it and only paying £600 I couldn’t really lose, had it 2 years now and never let me down it just looks old now and maybe time for a change
Cheers