Jump to content

The whole car lease new car sales deal thing.


TONY R
 Share

Recommended Posts

Fast depreciating cars are a fab buy if you let them take the hit then buy them second hand

Occasionally they become popular well after thier production date and you make profits - but if we had crystal balls we might spend half our lives sat on the sofa looking at our balls!

Link to comment
Share on other sites

  • Replies 110
  • Created
  • Last Reply

Top Posters In This Topic

Fast depreciating cars are a fab buy if you let them take the hit then buy them second hand

Occasionally they become popular well after thier production date and you make profits - but if we had crystal balls we might spend half our lives sat on the sofa looking at our balls!

 

thanks for that :lol:

Link to comment
Share on other sites

Fast depreciating cars are a fab buy if you let them take the hit then buy them second hand

Occasionally they become popular well after thier production date and you make profits - but if we had crystal balls we might spend half our lives sat on the sofa looking at our balls!

Think I spent a bit of my teens doing just that.

Link to comment
Share on other sites

One reason the leasing works well is the lease companies buy huge volumes of cars from the manufacturers so get a big discount especially if the order one type and spec of car just in a range of colours.

 

Remember when buying from a dealer they are not part of the manufacturer they are their own company and very few buy the same number of cars as what the national lease companies do so will not got such a good price.

 

When I have looked at it before assuming your not doing big mileages (over 10000) then a pcp or lease deal can be very good option. We need to replace our 4X4 next and I am pretty sure we will be having a pickup on pcp of lease.

Link to comment
Share on other sites

So what is the best option for someone doing 15-18k miles a year?

What are you buying?

Employment status

Vat registered

Usage

Any car allowance from employer

How long will you keep

 

 

We buy 9/12 mth BMW diesels from main dealer outright using our own money and trade/sell private at end of warranty having covered 600 miles a week avg.

Wife takes up lift in salary for opting off company car scheme and get 22p a mile for work related miles,

 

We use our own money from savings and repay ourselves monthly, we have a monthly pymt but its all in house.

 

Works for us as we plough miles on and like a prestige brand.

 

My work vehicles are on finance lease and I buy them at end of term

Link to comment
Share on other sites

So what is the best option for someone doing 15-18k miles a year?

 

Select the car you want/need and ask for the appropriate quote to take expected mileage into account, you can always pay a bit more deposit to keep monthly payments lower than they'd otherwise have to be.

 

If you find that you can't afford the quoted monthly payments then it's unfortunately a simple case of not being able to afford to drive that segment/price of car, the difference between lease and outright purchase once you take everything into account (including interest) is not THAT huge, certainly not big enough to mean you could afford it with your own money.

Link to comment
Share on other sites

Am i being simple here. I always thought if you cant afford it you cant have it all this lease and hire purchase is just another debt you dont need just so you have a new car on the drive and can look flash. The problem with todays society is due to the media portraying this image of the nice house with the new car on the drive in most programmes you watch which is not sustainable for the majority of us. Someone mentioned a 30k car how much would new cars cost if there was no finance or lease companies i very much doubt they would cost the same as they do now

Link to comment
Share on other sites

Guess its just that people work in different ways where cash money priorities ar concerned.

Had nothing but used cars bikes tractors all our lives, wifes first car was a Triumph Vitesse 2 litre then a capri 3 litre at 17 i was GS1000 mounted then all bought cash used.

Married at !7 own house moved a few houses and paid up our last mortgage by 27 15 years early.

One Attitude prevailed through all this, never buy anyting you cant sell for more money the next day if need be, never get anything not made of bricks on chucky, and pay off that mortgage fast as you can. and never loose sight of the fact true luxury is knowing you owe nawt and you can walk off a job anytime you like without fear of the next bill through the door.

Link to comment
Share on other sites

What I always struggle with on car leasing Is my high mileage. I do 40,000 miles a year most of which is business.

 

I get 45 p a mile for the first 10,0000, 25p a mile after that. I get a car allowance that is reasonably significant and I tend to buy cars up to 2 years old but with less than 20,000 miles on them.

 

My last car was a BMW 320 D estate. With trade in I paid £13,500. I bought it three years ago in June and it has 115,000 miles on it.

 

It is now paid for and my car allowance is banked. This allows a deposit to be built for the next car and I also have a BMW warranty that I have renewed after the first years warranty ran out. This costs me about £450 a year but gives me the same cover as buying a new vehicle. The car runs superbly and I have no plans to change it until it starts costing me a serious amount of money.

 

A friend has just got rid of his Discovery 3 After 10 years and 180,000 miles. Somebody pointed out that after a £2000 bill for a new gearbox or gearbox repair, it was expensive motoring. His reply was, "not as expensive as buying a new discovery 4"

 

So with my high mileage should I continue to do what I'm doing or lease?

Link to comment
Share on other sites

Why are people assuming that higher mileage users can't benefit from lease ? If you bought it with your own money it would still end up suffering from higher depreciation because of the increased mileage and have a lower re-sale value come disposal time. The lease companies want to shift units, they have tables to work out different payments for different mileage/deposit requirements, it's business.

Link to comment
Share on other sites

Why are people assuming that higher mileage users can't benefit from lease ? If you bought it with your own money it would still end up suffering from higher depreciation because of the increased mileage and have a lower re-sale value come disposal time. The lease companies want to shift units, they have tables to work out different payments for different mileage/deposit requirements, it's business.

Rates for higher mileage seem disproportionate from leasing companies when I have enquired.

Link to comment
Share on other sites

Rates for higher mileage seem disproportionate from leasing companies when I have enquired.

 

Depends very much on the type, performance cars for instance aren't expected to be showing 80k miles after 3 years but vans are a different matter. Smaller commuting type cars that are relatively cheap to begin with can be excellent ways of high mileage lease options.

 

The way to look at it is this : can the person wanting to do 20k miles earn the same money doing half that mileage ? If the answer is no (which it will be) then the answer is staring you in the face, namely that you are earning more the more miles you do therefore you have the means to pay the increased charges. Many people for instance will be using car allowances in the first place so the money to pay for higher mileage will be taken into account by their employers.

Link to comment
Share on other sites

For you with your mileage buy is best

That's what i thought, the car has already taken a big hit as it's possibly 2 years old at this stage. The last one was 2.5 years old and still had what was left of a service pack so didn't pay for any services for a while as well.

 

When i have asked about leasing before it was always prohibitively expensive.

Link to comment
Share on other sites

That's very kind of you dodeer, I'm not planning to change at the moment. I always run my cars into the ground and this one is sounding very healthy at the moment with just the 115,000 on the clock. I'm hoping to get 200,000.

 

When I do come to change I may give you a shout.

 

Thanks again for the offer.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.

×
×
  • Create New...