Car leasing

Discussion in 'Cars, Bikes 'n AFVs' started by walting_matilda, Mar 22, 2010.

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  1. Chaps, I find this a bit of a no brainer:

    My partner wants to buy a new car worth £15,683.85. This works out at £435.66 (and thats without interest) over 3 years.

    Now, you can hire the same new car, with road tax paid and AA over 3 years for £190.56. Only down side is that you do not own the car at the end. I guess you just take out a new lease after the period is up. It works out you pay £7812.96 over the 3 years (with initial payment).

    Bearing in mind that you dont really own the car on HP till you make the final payment, isn't it just the same. Cars depreciate so fast over three years, have I missed something? There are millage restrictions but you can state before hand how much you want to do in a year and they will quote you accordingly.

    Your thoughts?
  2. I've leased and though I never owned the car I also never owned the car's problems. No servicing cost, fair wear and tear is not your problem either. I liked the concept.

    It's all a matter of doing the arithmetic really and like anything else, shop around
  3. The leasing company authorises your local dealership. Well it did in my experience. The only time it cost me was when I had caused damage to a tyre and that had to be replaced at my cost. No argument from me as I had.
  4. I've been leasing cars for years now, and I woudn't go back to buying/owning them again. The leasing company don't need to be local to you, I use LUNA , who are 'oop North, but I have my car serviced by my local Audi dealer in Surrey. You just need to choose the options that suit you best.
  5. Of course if you are a cheapskate like me and keep your car until it finally dies then the cost/benefit is harder to sort out.

    I bought my present car in 1994 and it is still not ready for the scrap heap just yet.

    That works out to about £50 a month including serviceing etc so leasing not really worth it :)

    Of course it does mean I don't get that nice new car smell (same stuff they use to embalm people apparentely) every couple of years..
  6. The only thing to watch is the mileage.... it might not suit high mileage users
  7. For the OP; scour Autorader, etc for the exact (if possible) spec of the one you're after but approx 3 yrs old, (which may be be difficult depending if it's a new release model) and consider what you make out is the average for the ones on sale. Obtain the new cost of said motor you're after and then subtract the total cost of your lease. Does this number work out massively from the ones on sale second-hand? If not too much, then leasing is the answer.

    What model are you after?

    As Jarrod said if the car has low depreciation then you lose out. But weigh that up with No tax or MOT's to do for three years and at the end of the term you get another brand new motor (if you want) without all the hassle of buying/selling.

    Try here Lings Cars, she's fairly cheap, charges only three months rent as a deposit and more importantly, the mad cow is an ARRSEr (View Profile: LingsCars - British Army Forum)
  8. Fcking hell indeed!! Heloooooooooooooooo. Mad cow indeed. Hmmph.

    None of those other bloody boring leasing companies will come here, to the hunting ground of the "brave boys" (aka: lunatics) who pretend to defend the Blitish Isles against the Talibarmy.

    Hmmmm, I will have a look if any of you says anything sensible. How strange not to be stuck in the NAFFI getting slagged off as usual! It is so much more refined here.

    Now, what cars do you want? I will do my best but I am Chinese not Catholic so don't ask me for miracle pricing or any forgiveness, my sons.
  9. Jeez, I have looked at that Luna Lease.

    My God, when their page loads due to the javascript errors, their prices are so misleading.

    They break the "Consumer Protection from Unfair Trading Regulations 2008" which requires that: 'All price indications you give to consumers, by whatever means, should include VAT. This total price must be displayed prominently so that consumers can see it. Prices may ONLY be indicated exclusive of VAT at an outlet or through advertisements from which ALL of your business is with business customers.' That is a criminal offence.

    They also quote 6,000 mile prices and 6 payments upfront... when the industry standard so consumers can compare the prices is 10,000 miles per year and 3 payments upfront. No wonder they look cheap, hiding tax and misleading prices.

    That is no way to treat customers... grrrr.
  10. I have never seen good second-hand leasing offers. The reason is that the leasing companies hit the residuals, there are no manufacturer bonus subsidy available on used cars, and the servicing requirements are higher, plus you get into MOT etc.
  11. Pm on HERE??? To be honest I ignore them, they are usually full of abuse including cucumbers and a donkey, from the idiots in the NAFFI. Sorry :) I will look now. If it is rude, I come back and shout at you :)
  12. Christ Ling just looked at your web site nice but will have to get the sun glasses out of the car
  13. If it appreciates in value, buy it. If it depreciates, lease it. Sound advice.
  14. If it moves, shoot it.

    Unless you are American, then hand grenade it.


    (Actually that is not my view, just a bad joke. I think they probably tried hard as hell to make it work. Shame eh?)