Jump to content
Sign in to follow this  
Ant

Car Leasing

Recommended Posts

Anyone on here lease their car?

 

looking at used cars is doing my head in, between cars coming up to MOT soon, or what's considered high mileage/does age matter vs condition etc

plus then there's the serving costs on top of that for future mot's or if something implodes on the thing, i could end up spending 6k on something used, with deprecation it being worth 2.5k in 3yrs time plus those other costs on top of that.

 

it's got me considering leasing, get a new motor, pay couple hundred a month for it, if something breaks it's their problem/under warranty, when it needs serviced again it's their issue and at the end of the 3-4 yrs i hand it back and get another new one.

 

but how it effects insurance/hidden pitfalls etc i've no idea about, and it's a fairly new thing (over here anyway)

anyone had any experience with it?

Share this post


Link to post
Share on other sites

I don't think it necessarily requires a massive chunk. A three year deal is generally 3+36 iirc.

 

I looked at it before and decided that it was mostly too expensive and poor value for money. Occasionally there's some good lease deals on HUKD but they're infrequent so maybe not great if you're in a rush. I found when buying my car that there was great value in the nearly new market. Mines was 10 months old and 8k on the clock and was a lot lot less than if I'd bought it new.

Share this post


Link to post
Share on other sites

I don't think it necessarily requires a massive chunk. A three year deal is generally 3+36 iirc.

 

I looked at it before and decided that it was mostly too expensive and poor value for money. Occasionally there's some good lease deals on HUKD but they're infrequent so maybe not great if you're in a rush. I found when buying my car that there was great value in the nearly new market. Mines was 10 months old and 8k on the clock and was a lot lot less than if I'd bought it new.

 

naw it's not massive, normally it's about 3-6 months/around a grand on most deals

aye for what i want in the nearly new market still puts the car at near 18k (or 28 in the case of the 3series) though which is a way too steep for me to be spending on something i do around 24m a day in tbh

 

apparently servicing isn't covered it's an added extra in most deals under "maintenance" which is surprising like

Share this post


Link to post
Share on other sites

Anyone on here lease their car?

 

looking at used cars is doing my head in, between cars coming up to MOT soon, or what's considered high mileage/does age matter vs condition etc

plus then there's the serving costs on top of that for future mot's or if something implodes on the thing, i could end up spending 6k on something used, with deprecation it being worth 2.5k in 3yrs time plus those other costs on top of that.

 

it's got me considering leasing, get a new motor, pay couple hundred a month for it, if something breaks it's their problem/under warranty, when it needs serviced again it's their issue and at the end of the 3-4 yrs i hand it back and get another new one.

 

but how it effects insurance/hidden pitfalls etc i've no idea about, and it's a fairly new thing (over here anyway)

anyone had any experience with it?

The terminology can be a bit confusing - I bought mine on one of those "balloon payment" deals which seems like a mixture between buying and leasing in that at the end of 4 years I can just give the car back and walk away (the dealers of course want me to buy a new car on the same basis) or I can pay/finance the final payment.

 

What appealed to me was that the monthly payment was about the same as financing a used one (due to interest rate difference) with the bonus of the lack of MOT and proper warranty you get with a new car. The view about depreciation didn't bother me as I'd owned my previous car for 16 years (actually bought on a similar deal originally) and I'm not that bothered about changing it every couple of years - my view is that if you have a good car you like you may as well keep it for as long as possible.

 

When I did buy my previous car it was when I was a contractor and I did look at contract hire which is something else similar to leasing where the bill is paid by the company and it looked very good but my company hadn't been going for long enough so I couldn't get it in the end so had to buy it personally.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

Sign in to follow this  

Recent tweets

Toontastic Facebook

Donate to Toontastic

Keeping the lights on since... well ages ago
TT-Staff


×