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Leasing a car


washerboy
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Has anyone leased a car long term, 36 months.

I'm looking into it but not sure what the terms are until I call in at the dealership.

 

Lease deals are by and large done through specialist firms who deal in pretty much all makes rather than the dealership itself, if you get the dealer to quote it would more often than not be via such firms anyway.

 

Typical term is 3 months payment down followed by 35 followed by hand back which will be painless unless you have abused the car, mileage is dependant on your requirements and will obviously have a bearing on payments. Other terms such as one or two or even four years are available, expensive cars often require 6 or even 9 months deposit to start the reason for which should be self explanatory.

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I use to get PCP, on my second car,only something small like Clio's @ £134.I only did about 3/5k (6k was the limit) and just at end of term drove in and out in a new one.Only deposit was 1months payment £134.

Downside is you have to take care of the car as they scrutinise it when it goes in for appraisal.I went to just buying 2nd hand when i needed a 4x4 for shooting and fishing and no worries of blood & feathers lol.You can pick your mileage but you'd have to ask how high.The highest I've seen is 10k per year,I think it's to do with keeping it low so the car has a good 're sale value.

Edited by Davyo
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The thing is I could borrow £6k of the bank over 3-5 years and afford a 10 yr old car, down side is it could be completely knackered by the time I've paid back my loan.

If I hire a car over 3 years, I can then just give it back and start over again.

I travel 20 miles each way to work and so need a car for a 7am start

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The thing is I could borrow £6k of the bank over 3-5 years and afford a 10 yr old car, down side is it could be completely knackered by the time I've paid back my loan.

If I hire a car over 3 years, I can then just give it back and start over again.

I travel 20 miles each way to work and so need a car for a 7am start

 

Completely knackering he lease car will cost you plenty, make no mistake.

There was a time, when they werent overly fussed about the odd scratch,worn seat or scuffed wheel ect, nowdays theyll have ye pants down!

Makes up a good portion of my business, putting lease cars right.

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Leasing is an efficient way of acquiring use of a new vehicle, fixed monthly cost (presuming you get a maintained deal)- it's a personal decision though - but use a calculator to make that decision! If you want the benefits of a nice new car with fixed costs to renew every two or three years - leasing (in the vast majority of cases) wins hands down .

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Completely knackering he lease car will cost you plenty, make no mistake.

There was a time, when they werent overly fussed about the odd scratch,worn seat or scuffed wheel ect, nowdays theyll have ye pants down!

Makes up a good portion of my business, putting lease cars right.

Completely knackerinf your own car will also cost you, either in repair costs or an absolute hiding on the RV. My first post on this thread I think is crucial if you're going to lease - make sure you get a contract allowing for fair wear and tear (ideally BVRLA standard). Dealerships often do "leasing" with return conditions designed to bum you , but they're easy enough to spot.

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As far as I'm aware all lease companies have to adhere to BVRLA or somesuch, how else are you going to arbitrate a dispute ? I keep reading about lease companies and dealers trying to shaft you at hand back yet in my experience nothing is further from the truth. Being in the trade I have taken back my fair share of PCP cars and can't readily think of many we had any sort of issues with, the odd one with obvious faults are pointed out and the customer is usually completely in agreement, one young lad handing back a three year old Clio springs to mind, his black paint work needed a complete workshop polish because he'd overdosed on drive through machine washes. In such cases you simply knock a bit off the value and offer them less money, people forget the whole beauty of a properly set up PCP is to actually leave you with a decent amount as deposit towards your next car, the dealer at that point is highly unlikely to be wanting to antagonise you !

 

We have also had 5 personal contract hire/lease cars four of which have all gone back without a single murmur. There are very clear guidelines as to what constitutes fair wear and tear on a three year old car, they even allow 1 cm alloy scuffs and minor scratches on bumpers and bonnet stone chips but if you're trying to return a minging skip with four kerbed alloys and deep dents everywhere then lease isn't for you, but then I guarantee that had the car been bought by you for cash it would still have its value reduced whether you try and sell it privately or px for a new car.

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As far as I'm aware all lease companies have to adhere to BVRLA or somesuch, how else are you going to arbitrate a dispute ? I keep reading about lease companies and dealers trying to shaft you at hand back yet in my experience nothing is further from the truth. Being in the trade I have taken back my fair share of PCP cars and can't readily think of many we had any sort of issues with, the odd one with obvious faults are pointed out and the customer is usually completely in agreement, one young lad handing back a three year old Clio springs to mind, his black paint work needed a complete workshop polish because he'd overdosed on drive through machine washes. In such cases you simply knock a bit off the value and offer them less money, people forget the whole beauty of a properly set up PCP is to actually leave you with a decent amount as deposit towards your next car, the dealer at that point is highly unlikely to be wanting to antagonise you !

 

We have also had 5 personal contract hire/lease cars four of which have all gone back without a single murmur. There are very clear guidelines as to what constitutes fair wear and tear on a three year old car, they even allow 1 cm alloy scuffs and minor scratches on bumpers and bonnet stone chips but if you're trying to return a minging skip with four kerbed alloys and deep dents everywhere then lease isn't for you, but then I guarantee that had the car been bought by you for cash it would still have its value reduced whether you try and sell it privately or px for a new car.

There's no requirement , it will depend on the terms that you agree to at the start - BVRLA is a common standard , but not compulsory, hence my advise to pay close attention to the terms and conditions that you are agreeing to when taking the vehicle.

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Fiat are doing a new fullback for 199+vat business users a month on 3 year lease tempting like. Think the load liner and top are extra if you want them

Sounds good doesn't it but it's 1400 plus vat up front so works out close to 8.5k plus vat over 3 years mileage is limited and it needs to be in good condition when it goes back.

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Also a couple of hundred quid at a retailers or smart repairer before handing it back pay dividends, I am comtplating similar myself after many years of buying running average cars into the ground 180k 230k 120k I currently have acompany car but can opt out and take an allowance, and leasing myself..... it's a tough call.

 

It depends on the car if a small hatch back is what your needing and reliability and low running costs are key then leasing could be ideal.

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some lease product you are responsible for the disposal at the end of the term, Finance lease, i have this on my van, .

I have leased cars in the same way.

You get a final paymeny,usually a substancial one to pay in my case 9.5k,then going forward a peppercorn arrangement say one payment for every year after that.

You can take the vehicle bak to a dealer for a trade up, so they offer you 11k cos you looked after it then you have 1500 towards the new motor, or cos you beat it to death 8k then you have to find 1500, i have never paid the final payment my self.

 

more often i sell it privately, this is hard work and you have to deal with messers, and folk who wont pay the vat,(vans)but i get more money than the dealer option. The buyer then pays the finance interest by bank trans and pays me the balance to use in my new deal.I will add at all times i did have the final payment to hand.

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