Car leasing

[Elmyn Noos]

Good idea, or not?

 

I'm giving it serious consideration but know very little about it. I fancy a new Audi A4 Avant and the little salesy chap at the audi dealership has offered me £478 a month based on a 4 year lease doing a max of 10,000 mpa (which is fine). This is on a new black Avant Technik. I've obviously told him to stick his first offer, but I've actually no idea if it's a decent offer or not, especially as I'm putting down a £5000 deposit.

 

Any pointers/tips on leasing from you car types would be cool. Don't try and talk me out of getting the Audi though -the car's fine and I don't have the arsedness to go back to square one.

[TaksimRakiClub]

Try Askaprice.com

 

Company based in town and you can put the model details and spec into their website and they'll find you a quote.

 

Don't drive myself but the Mrs leases and uses these and won't go back to buying.

[She Knows It]

The best part of 30K to borrow a car for a few years? If you're only do 10 thousand miles a year you'll only be using it to pootle around. I could understand paying that if you did hundreds and hundreds of miles every week and wanted something comfortable and reliable to drive long distances, but for dropping the kids off at school and nipping to work it seems a hell of a lot.

[RedinSweden]

The best part of 30K to borrow a car for a few years? If you're only do 10 thousand miles a year you'll only be using it to pootle around. I could understand paying that if you did hundreds and hundreds of miles every week and wanted something comfortable and reliable to drive long distances, but for dropping the kids off at school and nipping to work it seems a hell of a lot.

 

Nearer 20k. But leasing is dear. I have a mate who does it but he pays about 300 quid a month. He swears by it but I'm not convinced. You have to work out what the cost of buying one would be and how much it would be worth after 4 years. New cars are always a good way to lose money though.

[bri]

streetcar

 

possible cheaper option for low mileage trips. And they do a scheme if you have a spot free for the car you get it for free or get paid

[She Knows It]

Nearer 20k. But leasing is dear. I have a mate who does it but he pays about 300 quid a month. He swears by it but I'm not convinced. You have to work out what the cost of buying one would be and how much it would be worth after 4 years. New cars are always a good way to lose money though.

 

£478 X 48 = £22,944 + £5,000 deposit = £27,944.

 

Don't fuck with me, I'm dead good at sums and that.

[Elmyn Noos]

£478 X 48 = £22,944 + £5,000 deposit = £27,944.

 

Don't fuck with me, I'm dead good at sums and that.

 

yeah but after 4 years you get to trade up for a later model, or something. The way I figure it, if you get a loan or similar, you never own the car anyway, and when you flog it, you lose out and have the ball-ache of flogging it. This seems like a good way of getting a car you would never dream of buying. At the end of the 4 years, I can hand it back, collect any equity depending on the residual value, or arrange to carry on a new agreement but get another brand spanking new car. I've looked into it and I can't really see any drawbacks. Everyone I know who has done it swears by it.

 

Plus the bloke in the dealership said it was a great idea, and he wouldn't lie to me would he?

[She Knows It]

yeah but after 4 years you get to trade up for a later model, or something. The way I figure it, if you get a loan or similar, you never own the car anyway, and when you flog it, you lose out and have the ball-ache of flogging it. This seems like a good way of getting a car you would never dream of buying. At the end of the 4 years, I can hand it back, collect any equity depending on the residual value, or arrange to carry on a new agreement but get another brand spanking new car. I've looked into it and I can't really see any drawbacks. Everyone I know who has done it swears by it.

 

Plus the bloke in the dealership said it was a great idea, and he wouldn't lie to me would he?

 

I'd still be inclined to get a second hand Astra and stick the remaining 25K in a pension over 4 years. Or spend it on hard drugs and loose women.

[Trumo]

I'd still be inclined to get a second hand Astra and stick the remaining 25K in a pension over 4 years. Or spend it on hard drugs and loose women.

 

Since you don't have to pay for Loose Women, that leaves 25k for your class-As of choice. And a second-hand Astra.

[She Knows It]

Since you don't have to pay for Loose Women, that leaves 25k for your class-As of choice. And a second-hand Astra.

 

Good point. In fact, why not just invest in £28K of drugs, sell them on and repeat until you have enough for a brand new Audi. Then you won't just look like a drug dealer, you'll actually be one!

[Tom R]

leasing is a good way to run a car. You're right that there are no real drawbacks, provided you don't go over the agreed mileage etc.

 

Re the car you've chose. Great motor, and I know you don't want to be told what to buy, but you should seriously, seriously consider a Skoda Superb Estate.

 

It's bigger, far better equipped, cheaper and will hold it's value just as well.

 

Honestly, it's a BRILLIANT car if you can get past the badge snobbery, and I know you're probably not too arsed about that.

 

It's so good Top Gear named it their luxury car of the year last year. Not boggo standard estate car of the year, LUXURY car of the year.

[Tom R]

"The Superb Estate is a class act. It's the off-beat alternative to the likes of the Vauxhall Insignia Sports Tourer and Volvo V70 and even the luxury German marques.

The big story is that it's big on load space. Whether it's seats up or seats down, there's more room on offer than both the Vauxhall and Volvo. And, for that matter almost anything else on sale in fact!

 

It's more than just a roomy holdall, though, as it's packed with features that not only make life easier, but mark the Superb apart from more household names. That means more legroom in the back than a Mercedes-Benz S-Class, an optional electric tailgate that can be set to open at different heights, a self-parking system and even a rechargeable torch with a magnetic back so it can be attached to the car's body if needed. And it remains one of only two cars to offer an umbrella concealed within the door - the other is the Rolls-Royce Phantom.

 

Add to that some of the finest engines available within the Volkswagen Group and attractive list prices and it's easy to see why the Superb Estate makes sense as a practical and value-packed family car. In fact, it's pretty much faultless."

[Guest San Don]

Depends whether you are leasing or really mean a PCP ie personal contract plan. Leasing or contract hire is normally what a VAT registered business does with vehicles since the vat element on servicing can be reclaimed and there is a fixed amount to pay.

 

Leasing is not generally a good way for the private motorist to get a vehicle since when you sign up to a lease, if after say 18 months you want to hand the car back cos you cant afford the monthly repayments, you're fucked. You have to continue paying the full lease for the full term.

 

some leases do have a get out option but in reality, you end up paying as much as if you kept the car for the period.

 

A PCP is different. You get a nice new car for a small deposit and relatively small monthly payments. At the end of the term you can hand the car back and pay no more (good if the car is worth less than its gauranteed minimum future value), re finance it (bad cos it'll cost a fortune before you own it) or pay the final large installment and keep it (good if the car's value exceeds its GMFV).

 

Also with a PCP, if you have paid 50% of the balance, you can hand the car back with nothing to pay and no black mark on your credit history. Its called voluntary relinquishment.

 

TBH, main dealer PCP deals are fucking expensive and I'd try to avoid them. Use somewhere like Prestige-car-leasing a4_avant

 

If taking a PCP its best not to put down a big deposit as you may not want to keep the car and instead opt for 3 or 6 times the monthly payment as the deposit.

 

Watch out for some places who only pay the road tax for the first year leaving you to pay in in years 2, 3 and 4. Also watch out for 'admin fees' which could cost about 300.

 

Prestige can do some very good deals and normally include road tax for the full period and no admin fees. (I dont work for them BTW!)

 

Be aware that with any lease, contract hire or PCP, if you hand the car back expect to get stiffed on average another 600 quid.

 

This is what you'll get charged for small dings and scratches even though they say 'fair wear and tear' wont cost you anything.

 

HTH.

[RedinSweden]

"The Superb Estate is a class act. It's the off-beat alternative to the likes of the Vauxhall Insignia Sports Tourer and Volvo V70 and even the luxury German marques.

The big story is that it's big on load space. Whether it's seats up or seats down, there's more room on offer than both the Vauxhall and Volvo. And, for that matter almost anything else on sale in fact!

 

It's more than just a roomy holdall, though, as it's packed with features that not only make life easier, but mark the Superb apart from more household names. That means more legroom in the back than a Mercedes-Benz S-Class, an optional electric tailgate that can be set to open at different heights, a self-parking system and even a rechargeable torch with a magnetic back so it can be attached to the car's body if needed. And it remains one of only two cars to offer an umbrella concealed within the door - the other is the Rolls-Royce Phantom.

 

Add to that some of the finest engines available within the Volkswagen Group and attractive list prices and it's easy to see why the Superb Estate makes sense as a practical and value-packed family car. In fact, it's pretty much faultless."

 

"Not my words, Top Gear magazine"

[Torvald Utne]

It's a good way to piss away money, she really does knows it.

 

Buy a 6 month old version of the same car and sell it in a few years and you'll be thousands better off.

[Lurtz]

"Not my words, Top Gear magazine"

 

Rightfully repped.

[bigbak]

Look into the terms about what they class as fair wear and tear. I'll have to have all my stone chips and wheel scuffs (very easy with 18" wheels) repaired.

 

I wouldn't do it again.

[Tom R]

Rightfully repped.

 

Absolutely.

[RedinSweden]

Absolutely.

 

You both gave the same rep message too. It morphed into his voice in my head. It was uncanny.

[lifetime fan]

It's a good way to piss away money, she really does knows it.

 

Buy a 6 month old version of the same car and sell it in a few years and you'll be thousands better off.

 

This.

 

My A4 estate now has 125,000 miles on the clock.

 

Last MOT cost me a tyre.

 

Why chose to go for a top of the range motor with great reliability (and believe me you are paying for this) if you'll never benefit from it?

 

Great choice though Noos.

[lifetime fan]

Noos, have you looked at sticking a 6 month old motor (as fungus suggested) on the mortgage for a few years?

[Elmyn Noos]

leasing is a good way to run a car. You're right that there are no real drawbacks, provided you don't go over the agreed mileage etc.

 

Re the car you've chose. Great motor, and I know you don't want to be told what to buy, but you should seriously, seriously consider a Skoda Superb Estate.

 

It's bigger, far better equipped, cheaper and will hold it's value just as well.

 

Honestly, it's a BRILLIANT car if you can get past the badge snobbery, and I know you're probably not too arsed about that.

 

It's so good Top Gear named it their luxury car of the year last year. Not boggo standard estate car of the year, LUXURY car of the year.

 

Cheers Tomarse, sound advice. However, my brain is nothing if not small and mind nothing if not narrow. Car is decided. Took me ages to decide. I simply lack the capacity, will, and energy to start looking at other cars.

 

San Don - it is a PCP yes, and thanks for that advice.

 

I'm heading off down to the dealership in about half an hour to put pen to paper I think. I have knocked the salesman down to £455 a month, and the price now includes something called gap insurance, and something else he bleated was good that I'm getting for nothing.

 

When I get there, I'll fill out all the forms, then just as I'm about to sign and he's mentally spending his commission, hit him with some more demands. What should I ask for? Should I be getting free servicing, and a MOT when it's due? I'll check the road tax thing (cheers San Don). Anything else?

[lifetime fan]

Cheers Tomarse, sound advice. However, my brain is nothing if not small and mind nothing if not narrow. Car is decided. Took me ages to decide. I simply lack the capacity, will, and energy to start looking at other cars.

 

San Don - it is a PCP yes, and thanks for that advice.

 

I'm heading off down to the dealership in about half an hour to put pen to paper I think. I have knocked the salesman down to £455 a month, and the price now includes something called gap insurance, and something else he bleated was good that I'm getting for nothing.

 

When I get there, I'll fill out all the forms, then just as I'm about to sign and he's mentally spending his commission, hit him with some more demands. What should I ask for? Should I be getting free servicing, and a MOT when it's due? I'll check the road tax thing (cheers San Don). Anything else?

 

You'll want the servicing and MOT's for the 4 years chucked in, just mention that if the car he is giving you is that great it'll cost them nowt anyway.

 

EDIT: I'd also be prepared to walk out if he isn't prepared to drop the price again, he'll be desperate for you to sign (considering the economy) so use it to your advantage. Try and get him down to £400 but anything you get off is money saved.

 

Don't for fucks sake worry about sounding a cheap cunt, he'll be fucking pissing himself laughing behind your back later so screw the cunt for everything you can get.

 

Try and get tyres chucked in too.

[RedinSweden]

Cheers Tomarse, sound advice. However, my brain is nothing if not small and mind nothing if not narrow. Car is decided. Took me ages to decide. I simply lack the capacity, will, and energy to start looking at other cars.

 

San Don - it is a PCP yes, and thanks for that advice.

 

I'm heading off down to the dealership in about half an hour to put pen to paper I think. I have knocked the salesman down to £455 a month, and the price now includes something called gap insurance, and something else he bleated was good that I'm getting for nothing.

 

When I get there, I'll fill out all the forms, then just as I'm about to sign and he's mentally spending his commission, hit him with some more demands. What should I ask for? Should I be getting free servicing, and a MOT when it's due? I'll check the road tax thing (cheers San Don). Anything else?

 

Surely that is already included? Isn't that the whole idea of leasing that they look after the fecking thing for you.

 

Demand massages.

[Tom R]

Full tank of fuel and decent mats if not already included are pretty much standard demands.

 

The gap insurance is a good one if there's a shortfall between what you owe and what it's worth when you come to the end of the term.