Nice car on personal lease…why does it feel 'uncomfortable'??

Also worth remembering with leasing you effectively get to keep a chunk of your capital and spread the cost over a couple of years. In a way it’s interest free really.

A friend just got a new tiguan on 2000 down and 115 a month.

My limited research suggested leasing got expensive compared to PCP when mileage went over around 15k a year…

I leased a car for the first time this year. A new car (second hand) was going to cost about £5k, and managed to lease a car that is the same over two years and has no servicing, tax and kot costs.
Yes if id bought a car it would have some value but only about £1500 but i’d spend more than that on service, repairs, mot, tax, tyres…

My only down side is i’m not getting the fuel economy i expected.

Edit: it will be interesting to see what happens to the second hand car market in a few years as kore people lease.

My limited research suggested leasing got expensive compared to PCP when mileage went over around 15k a year…

Clearly depends on the deal of comparable vehicles. Sometimes pcp is a winner other times lease, go where the market goes for best deal.

Leases mean more second hand cars for pikeys like me. Probably less folk buying new cars because it seems that leases are pushing the perceived cost of new cars up. 28k for a **** yeti. You’d have to be mental but it makes renting it for 5k seem a good way to get one.

Nee car is only new on day 1

28k for a **** yeti

.

’tis a 4×4, leather, pan roof, self parking , sat nav and other features of a super yeti! I’m sure you could get for around 26000 with all Skodas incentives. Comparable other vehicle in same class would be a lot more.

That’s said I wouldn’t spend that much on one. But I would and did on lease.

Yetis have a few issues. They’re not perfect with nasty gloss plastics on outside and poor boot in biking terms but that’s about it.

I was surprised when shopping around that BMW/Audi/Merc were happily offering up to 20% plus of RRP if buying a big estate on a PCP deal. This compared with Skoda at max 10% discount on a Superb Estate 4×4…. Like for like the Skoda was going to be more per month than an A6 Avant.

28k us a bit much for a Skoda. I thought c18k for a Golf was abit much. 28k for the Yeti makes the Golf GTI/R seem like a bargain though.

Interesting reading all this and getting some insight into these deals which seem to be the norm these days.

Anyway, I’m still driving a 15 year old Passat TDI with 178K on the clock doing +20K per year. Bought it for £1800 about 3 years ago, current value about £500. Spent a bit of money on consumables and £400 getting the front bushes done. It’s due a cam belt soon which I’ll get done as ‘touch wood’ there’s nothing else wrong with it, it’s just a bit scruffy. It only gets washed twice a year lol but I keep on top of oil changes etc. Not quite bangernomics but I don’t tend to worry about reliability and spending really isn’t that much.

Don’t get me started on my OH’s 2009 Corsa though…grrrrr

We got a new Yeti SE DSG for my folks for about 18K with incentives.

OP – are you sure you like the Yeti?
I thought it was the car for us until I drove one.
1) The boot is the same size as a fabia
2) The windows sills are really high and made it feel weird inside. took away all the advantage of feeling high up that you get with other softroaders.
3) Rear seats were basic and sills even higher.

I didn’t really understand contract leasing and prescribed to the buying 3 year old car run until dies car ownership. When last year a larger car was needed I looked in to leasing again and noticed that if you look for special deals they can be very compelling. Ended up with an Octavia Scout for £180pm, works out about £4.5k over 2 years. My previous 10 year old Audi A3 had cost double that in depreciation and upkeep in 4 years of ownership so roughly the same costs but a new car.
I didn’t need a car of that spec or 4×4 but it worked out less than lower specced models as there was a deal and many super minis cost more to lease. If you are not fixed on which model you want and don’t want to add extras that leasing can make sense.

Your Octy probably won’t cost you £2,500 every year. Or at least it shouldn’t.

Leasing is only worth it if you really want a new car all the time.

My problem with leasing is I hate having a deadline. 24 months into the lease and they want their car back now. I have to source another one now, otherwise the family can’t get around. You have to work with the deals that are available at the time as well. Stress.

I bought my car new (with big discount through Drive the Deal) on finance, paid it off early and kept the deposit contribution.

Car is mine and I can change it when I like. Have a new Focus ST on order and it’s taking a while but I don’t have to sweat because no one is banging on the door to take my current one away.

Looking on leasing websites there are lots of good deals on random cars but when you choose the car you want, it ends up quite pricey.

If you just choose whatever car or make is on special offer then that’s fine. Can’t imagine STW readers buying a random bike in the same way!

“My previous 10 year old Audi A3 had cost double that in depreciation and upkeep in 4 years of ownership so roughly the same costs but a new car”

i think this is the crux of the matter.

if i was paying a garage my motor would have been gone long ago. my 12 year old berlingo that was 1400quid aged 9 years has swallowed about a grands worth of consumables in 3 years…… but probably would have been about 5 grand in a garage(one quote i had was 1200 quid to replace the rear axle which was 300 quid in parts and 4hrs of my time) – plus while in there i did other associated cheap consumable bits that a garage wouldnt have . Labour costs in this country are mental – but then thats the cost of high house prices and the living wage.

How ever right now im time rich cash poor (or rather poor to the point that my hourly rate is much less than that of a garage) so my method works just now.

I think my attitude will change when the cards flip the other way.

I work for Nissan who lease cars to their employees.
So I’ve got a qashqai dci n-connecta for £189 pm.
Everything included in that insurance, tax, servicing and no deposit.
11 month term so get a new car every year.
Wife wants an land rover evoque but thats more than double when the deposit is included 😯

If you pay a monthly fee not to own something but have use of it for that month does it incline you to use it more often that you would otherwise?

wilburt – Member
If you pay a monthly fee not to own something but have use of it for that month does it incline you to use it more often that you would otherwise?

No

<shrug> my 8yo car does exactly the same job of getting me from place to place as a brand new one does – TBH it’s not even at all unpleasant to drive compared to a new one (and yes I have driven plenty of brand new hire cars to compare). Plenty of people seem happy to splurge thousands a year for the privilege of owning a brand new car – they just ignore how much because they’re paying monthly, which is where the maths thing comes in. Box fresh is way overrated when there are so many other things to spend the money on which are more fun.

I find its the inability of the used car brigade to compare like for like that’s the issue.

Not the inability, no. The ‘used car’ brigade simply don’t think a new car is worth shelling out for. That’s why they’re in the ‘used car’ brigade.

PS can you think of some more divisive passive-aggressive language please? I’m not insulted enough yet.

it’s 2.4k up front, then £119 a month.
minus the road tax, servicing, MOT, it’s as good as £5k

How many miles do you get in that?

Why pay out in advance too ie such a big deposit? I would want to keep my cash in the bank and pay a bit more per month personally.

I don’t think that’s a bad deal, just not sure I would want a Yeti…

Me, I’m firmly in the new car bracket. I prefer knowing what I have going out of the bank each month, and I like shiny new cars.

However my bike is currently 4 years old and I cant see the point in changing it

Box fresh is way overrated when there are so many other things to spend the money on which are more fun

.

Comes down to your priorities. Don’t really ignore the cost at all -it’s part of my budgeting. I Like a new car and like a new bike.

Had plenty of 2nd hand cars – not interested in them currently.

PS can you think of some more divisive passive-aggressive language please? I’m not insulted enough yet.

Well actually I was responding to someone who accused the leasing lot as not being great with maths!

The ‘used car’ brigade simply don’t think a new car is worth shelling out for. That’s why they’re in the ‘used car’ brigade.

Then why why why do they keep joining in threads for people that are exploring leasing for NEW cars?

Cos, STW innit 🙂

I’m mainly shocked to learn that second hand cars cost multiple thousands of pounds every year in repairs. My old banger needed a new fuel pump not long after I bought it (about £200 IIRC) but after that in three years / 35k miles all it’s had is tyres & brakes.

But I do look at leases sometimes and go through the same loop every time:

1) Ooh, £100/month, I could afford that.
2) Plus deposit. OK, so it’s effectively £200/month.
3) But I do 20k miles pa. More like £300/month.
4) And I don’t really want one of those anyway, I’d like a <xyz>.
5) We’re now at £500/month.
6) Can’t justify that.

So I carry on driving my crappy old hatchback and spend the money on other stuff.

Is leasing only an option if you’re looking to buy a new car?

For example the Vauxhall I’m interested in would be £18k on a 4 year lease with 15k miles p.a. and no maintenance included. I can buy a 1 year old version with 12k miles on the clock for about £16k plus I’d still have some value in it once I’d had it for 4 years.

Admittedly I haven’t looked past the 1st couple of leasing companies on Google so I may be able to get a better lease deal.

Along with being reluctant to do the maths (which I provided an example of at the start of my post), it seems you also have an inability to read the post properly 😉

My problem with leasing is I hate having a deadline. 24 months into the lease and they want their car back now. I have to source another one now, otherwise the family can’t get around. You have to work with the deals that are available at the time as well. Stress.

Nope, they’re pretty flexible. At the end of my last lease I was reminded that I needed to book my collection – you can go on for up to a year making the same payments, and they pro-rata your last payment for how much of the month you used.

New car was a few weeks late but no bother, once I had a confirmed date I told the lease company (7 days notice for a collection), someone came to pick it up that morning, new car arrived that afternoon. Zero hassle. The old one even had a few minor bits of damage, but all deemed to be within BVRLA guidelines, no extra charges.

I’ve owned cars of various ages (from buying 6-month-old ex-demos, to 10+ year old bangers) and I tend to think about there being a minimum cost of motoring – of buying a car, maintaining it, taxing it, insuring it, etc. Almost everything depreciates, and if you buy older they tend to do it less but make you spend more to maintain it. So it’s down to how much over that you’re willing to spend to have something newer or nicer.

I used to live walking distance to work, had a great local indie mechanic and so running something older that needed something doing every other month was very low stress – could just drop it off and pick up a day or two later. We don’t any more, even a service is a bit of a hassle so having a car that needs just one service in two years, not even needing new tyres before it gets swapped, is a big benefit and one I’m happy to pay for.

Along with being reluctant to do the maths (which I provided an example of at the start of my post), it seems you also have an inability to read the post properly

Lovely. That’s a downer either way.

My maths is fine.

I think in the case of the OP, it’s probably an old model due for replacement that’s doing the round cheap on the lease sites, but won’t be that heavily discounted by retailers in order to maintain the brand value.

My last car did cost me about £2500 in maintenance in the last year I owned it, which was a bit scary. It was never bought to be cheap though, and I would’ve kept it if rust hadn’t been starting to creep in (nothing MOT failable at that point, but it wasn’t going to get any better) and the supply contract for parts being given to a load of numpties whose business model seemed to be not to stock anything in the country whatsoever.

What you need to do is, buy a nice BMW 520d for £5k, and it just so happens I know someone selling one 😉

You flogging yours?
You only just got it!!!!

DrP

Philljnr- it’s not an old model – it would be factory made for us… Ready in March if we went for it….

DrP

Sundayjumper – Member
I’m mainly shocked to learn that second hand cars cost multiple thousands of pounds every year in repairs.

Mine was not expensive to buy, but I suspect this was in part due to the running costs. I was driving it hard and it was a more costly than average year though.

Me, I’m firmly in the new car bracket. I prefer knowing what I have going out of the bank each month, and I like shiny new cars.

The logic is sound, but if you were to lose your job – how up shit creak would you be? in 3 months? 6 months?

Although I’ve been in the same job for more than 20 years, its been sketchy at times – I prefer to be safe in the knowledge that my only monthly running costs are normal household bills and the mortgage..

(my car costs me well under 500 a year to maintain, thats oil/tyres/exhaust etc)

Sundayjumper – Member
I’m mainly shocked to learn that second hand cars cost multiple thousands of pounds every year in repairs.

they dont. just gotta pick your cars. german cars and cars packed with electronics COULD easy cost multiple thousands in 1 repair….. i had my fingers burnt once.

200 quid a month covers us for three cars …. 1 a classic although with my new job itll soon be one car and the classic 😀

insurance,tax , service/maintianance and a surplus to buy the next banger….

if something catastrophic were to go such as errr ….. the body was to split in two like some navaras 😀 then id scrap it and look for another.

in the past ive changed cars due to – one being a hyundai and i just did not fit behind the wheel…. 1 the wife cooked the engine and it was shit handling gutless and expensive for parts. (a mk4 golf) and the frontera went when it had an interface with a bus.

never just because its old.

never just because its old.

that would be nice.. my main 2 motivators for upgrading are..

– paying < 50 quid a year tax rather than a couple hundred
– getting double the MPG i get now.. (from low 30s to aporox 60

in total, i estimate i’d save a grand a year by changing car

indeed but what do you spend to “save” that grand.

Ive been doing the same maths at this end with respect to my 8grand much newer berlingo …..

frankly id save the tax yes so what 160 quid a year.

and id go from 45mpg to 55mpg.

Its a long payback time although its never clear cut as the new car is a much nicer place to sit and isnt covered in dings and dents from years of neglect….. how ever because its not covered in dings and dents im more likely be precious over it when it gets its first ding and dent 😀 – as it is i apparently parked in someones space(outside on the road infront of their house) at my mates house and they keyed it ….. but it never bothered me. id imagine in a lease car id be going nuclear.

The losing your job being stuck in contract is one of the biggest negatives of lease. My wife’s car isn’t leased so we’d sell that and she’d use mine. If we both lost our jobs we’d be stuffed anyway

Thankfully I’ve fairly good job security, or clear and confident prospects if the surgery were to burn down tomorrow.
Either in the day job, or as “DrP’s go go dancing” show on ice..

DrP