The whole car lease new car sales deal thing.

[dodeer]

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.

Me too. I tend nowadays to buy 10-12 year old Mercs for £3/4k. They can do 250,000 without much problem, and can pick up for £2800+..

[keg]

My other half has a Toyota Landcruiser, had it since new in 07. 146,000 and the only rattle is the dog crate, at least another 10 years in it.

 

I think the older Mercs have a better reputation than those in recent times.

[Vince Green]

We stopped leasing over eight years ago now. The figures just don't add up in your favour. Why do you think a lot of these companies are trying to push leasing so hard? you can work it out for yourself.

 

Executive cars for the MD maybe but in every other case you lose money. Its crazy handing a vehicle back after three years and getting nothing in return when you can pay virtually the same on 0% finance and keep the vehicle. All the vans we bought eight years ago when we gave up leasing are still working every day, still presentable and still reliable. We have had five years worth of virtually free vans

 

The leasing companies present figures over a three year period when they give you a proposal and they do look reasonable. Do the same sums over six or eight years and you will think again

Edited April 27, 2016 by Vince Green

[walshie]

Putting the financial gains/losses to one side, some people like to spend £100 a week in the pub. Some spend the same on fags. Some do both, so if you want to spend £100 a week on leasing a car instead, go for it.

[dougall]

on buying cars have bought 2 new in last 2 years. 1st gave a £3000 discount IF i took some finance?..took the minimum finance and 2 weeks later paid it off how dumb is that? 2nd car dealer would not budge on asking price..'we don't do discounts' but will do a customer deposit contribution if you take finance' so tried a few 'car brokers' online found same car at £4,680 less.........took quote into main dealer(as want them to deal/service etc) and they matched it as a cash price........don't understand the car industry,new cars with 20% vat sure ain't cheap anymore...however don't want monthly finance/balloon/PCP/lease/mileage limits/paperwork/salesmen talking twaddle/questionnaires/ffedback forms/insurance disclaimers just sell me a car and tell me your best price.The car industry has a dreadful image and frankly deserves it!...they waste money on things we don't want when I book in for the annual service at Audi I now get assigned a hostess...I kid you not,her job on arriving at the garage is to meet me take my car keys and then take me and introduce me to the service advisor who then books me in........she basically carries my car keys 60 yards.....they think great service I think why am I paying her salary!!

[Hamster]

We stopped leasing over eight years ago now. The figures just don't add up in your favour. Why do you think a lot of these companies are trying to push leasing so hard? you can work it out for yourself.

 

Executive cars for the MD maybe but in every other case you lose money. Its crazy handing a vehicle back after three years and getting nothing in return when you can pay virtually the same on 0% finance and keep the vehicle. All the vans we bought eight years ago when we gave up leasing are still working every day, still presentable and still reliable. We have had five years worth of virtually free vans

 

The leasing companies present figures over a three year period when they give you a proposal and they do look reasonable. Do the same sums over six or eight years and you will think again

 

Lease isn't being pushed, you can buy a car any which way you want, leasing is simply a way of driving brand new cars every 2-3 years without having to save the cost and then cough up the full price up front. In most cases for instance, people simply would not be able to pay for a new Range Rover up front, not every three years anyway. Those who do have that kind of money tend to be clued up about making it work for them.

 

Nothing crazy about handing back a three year old car that's seen its best years , we can kid ourselves that you're saving thousands buying the same car with 50k miles but driving a brand new car is nothing like driving one that needs an MOT every year, has seen wear and tear from strangers, has old everything including tires and the body work will never ever look the same as it did when new (it won't even when it's 18 month old), the taut, solid and quiet feeling you get with a new car is simply incomparable to when they're older. The older they get the more they smell, the more they seem to retain that annoying morning moisture that clogs up your windscreen, the seats look stained and saggy, often from human body fluids, I've had to pay prep guys to scrape dead hand cream and protein residue off the steering wheel and repaint it to stop wanting to vomit when touching it. Never looks the same as new of course even then because you will still notice the scratch marks on the door handles, the dash, the kick boards and of course the gear lever will look orrible too.

 

Admittedly vans are a bit different, they're somehow supposed to look a bit tatty anyway and at the end of the day they're tools meant to earn money but the only thing that stops people from spending thousands on brand new cars is money, not because there is no difference. Some will spend £10k on a gun but drive to the shoot in a £3 grand motor, others will make do with a £2k gun for ever but be willing to spend on the luxury of new cars because that gets used and enjoyed by the whole family. When I'm done and buried the thought of spending money in order not to sit on someone else's sweat marks won't hurt me.

Edited April 27, 2016 by Hamster

[Dougy]

I see it having something that you can't really afford.

[BrowningB525]

I see it having something that you can't really afford.

But if you are leading it, you are affording it. Are you confusing leasing with a loan?

[Hamster]

I see it having something that you can't really afford.

 

There are literally millions of people across the world who lease/contract hire/hire purchase cars, some inevitably get repossessed when things go wrong but clearly the vast majority can afford it.

Edited April 27, 2016 by Hamster

[Dougy]

I'm probably old school, I made do with what I could afford, wasn't a proud chap I never needed to make out I had more money that I actually had.

Times have changed I know, and understand that sometimes buying cheaper cars can be counter productive. But it's not for everyone, what i have I've paid for and sleep easy knowing I owe nothing.

[reggiegun]

I'm probably old school, I made do with what I could afford, wasn't a proud chap I never needed to make out I had more money that I actually had.

Times have changed I know, and understand that sometimes buying cheaper cars can be counter productive. But it's not for everyone, what i have I've paid for and sleep easy knowing I owe nothing.

Dougy I am of the same school, but my daughters have all bought new cars, no deposit and £150 a month, change it every 2, 3 years. Never there's but if you work it out there is not much difference, plus side they have trouble free motoring, so no dad under the bonet Edited May 2, 2016 by reggiegun

[Dougy]

I am certainly not knocking the lease thing, just that there's nobody can come knocking at my door saying "I am taking that back cus you ain't paid"..

[Rupert]

I am certainly not knocking the lease thing, just that there's nobody can come knocking at my door saying "I am taking that back cus you ain't paid"..

But if you own your car that money is missing from everyday life and not available to pay for other things.

There are pros and cons to all methods of payment and suitability to individual circumstances varies.

[Dougy]

Rupert,

What's mine is mine. Owe nowt to no-one.

[Del T]

Rupert,

What's mine is mine. Owe nowt to no-one.

Exactly, just like what we do. Save and buy, plus keep a bit back for household repairs and motoring expenses, holidays etc. But some don't think like that, they want it now and can't afford it so the get it on the drip.

Then its "look at me I've got a new merc" , they forget to say they don't actually own it lol.

[shalfordninja33]

I'll never buy another car.

 

After paying out over £7k in mechanical repair bills on a 6 year old Renault (big end failure) and 5 year old BMW (turbo failure) over the last 3 years I'll let the garage have the hassle, I now lease a fiesta for the wife and an insignia for me for under £500.00. per month. I'll give them back when the first MOT's are due and get two more. I'm n the fortunate position of getting a car allowance from work, I've just chosen to find to cars with it rather than one.

 

Previously I'd paid for cars outright and banked the cash to change one every three years, until both car stung me with massive repairs bills.

[islandgun]

I'll never buy another car.

 

After paying out over £7k in mechanical repair bills on a 6 year old Renault (big end failure) and 5 year old BMW (turbo failure) over the last 3 years I'll let the garage have the hassle, I now lease a fiesta for the wife and an insignia for me for under £500.00. per month. I'll give them back when the first MOT's are due and get two more. I'm n the fortunate position of getting a car allowance from work, I've just chosen to find to cars with it rather than one.

 

Previously I'd paid for cars outright and banked the cash to change one every three years, until both car stung me with massive repairs bills.

 

exactly thats why I have my work van on contract it works out cheaper

[Prime18]

Rupert,

What's mine is mine. Owe nowt to no-one.

+1 if things went badly wrong financially I.e. Job loss and my car was taken because I missed a payment where I live it'd be game over. At least my 6 year old beast is mine and I'll have it to go look for another job in!!! I'd maybe lease if we could justify having 2 cars tho.

[Mitchiet123]

Leasing works well if you do low mileage and change your cars every 2/3/4 years maximum.

Seen some deals for small cars for as little as £55 a month. Show me a brand new car you can BUY for £55 a month over 2 or 3 years and it's paid for and I'll chop my left nut off...

Also no MOT tax or repairs etc...

[Mungler]

We did the numbers with our accountants and the answer was leasing.

 

As has been said there are some cracking deals some of which just don't add up.

 

The first lease car I had (on a fully maintained deal) was an E250 merc cabriolet - I didn't want one and I didn't even test drive one before signing up for 2 years because at £250 per month plus vat for 12k miles it was a no brainer.

 

The bit I didn't get was at the end of the 2 year lease term they offered me the car to buy at market rate (but near on the trade price) - I think it was well under £20k

 

The thing is, I had paid maybe £8k to lease a £40k plus new car for 2 years in which its new to second hand value had dropped like a stone.

 

There was an easy £10k black hole between the reduction in car value to what I had paid in leasing and what I could have bought the car for.

 

Had I not driven it like I'd stolen it, it would have been a solid purchase 😀

[scotslad]

It will just depend on ur circumstances.

 

I looked at it a few years ago and seemed crazy money, but i was looking for a pick up so needed to buy a canopy and tow bar for it, so a bit of extra expense to be written off over 2/3 years, i also do 25K miles a year. Plus the fact i had a trade in, worth 5ish , i cuold of got a finance deal for same money/cheaper as the lease and pick up is ur's althou so are the expenses/running costs.

 

The biggest thing will be if ur unto motors and liking driving fancy new shinny ones.

I also don't really appreciate cars any longer, just an expensive tool u turn the key and it starts (hopefully) so not reallly bothered about driving new cars or having new number plates.

So when buying 2nd hand u don't have the same depreciation losses, my bro reckons he's losing about 2k a year on his new L200 on depreciation.

 

Can see the point if u like changing every 2 years in some cases deprecation will almost cover the lease as long as low milage users

[cromwell7]

Exactly, just like what we do. Save and buy, plus keep a bit back for household repairs and motoring expenses, holidays etc. But some don't think like that, they want it now and can't afford it so the get it on the drip.

Then its "look at me I've got a new merc" , they forget to say they don't actually own it lol.

Do you or have ever had a mortgage? Or did you save and buy your house, it's no different than that for some people to be fair.

if there wasn't the finance/lease option there wouldn't be a decent second hand market people would keep their cars for alot longer.

[stuey]

Same for mobile phones. Pay monthly as most can/don't want to fork out for a £600 iPhone up front.

[Davyo]

Same for mobile phones. Pay monthly as most can/don't want to fork out for a £600 iPhone up front.

A £600 phone that's going to be worth £300 after six months and £100 if your luck after 12 months because it's out dated lol.

[islandgun]

Do you or have ever had a mortgage? Or did you save and buy your house, it's no different than that for some people to be fair.

if there wasn't the finance/lease option there wouldn't be a decent second hand market people would keep their cars for alot longer.

thats what i was thinking all these people without a mortgage or rent, must have inherited at an early age