Car leasing

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errant said:
so why do it? there seems like there are too many people in on it now for it to be flawed? i genuinly don't *get it* which is why i ask...
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If you're buying a new car you could be better off leasing. As @beezer mentions above, if you buy a car that loses £12k over three years you'd be £2k better off paying £10k to lease the same car over the same period.

If you're buying a car a year or two old (which is what I'd do) you're not really comparing the same thing because it's already lost a chunk of the initial cost.

Can see how it works for people though. Our lass just didn't want any potential hassle with a used car so went for a cheap lease. Fair does.
 
HANDSOME_DAN said:
i think at least part of the anti leasing sentiment is based upon the fact that it enables people in low paying jobs to drive much nicer cars, essentially because they are only financing the depreciation element over a term instead of the entire value per traditional HP, essentially always having a car payment to service each and every month, forever. Basically its a snob factor because having a german car isn't exclusive in the slightest for them, anymore.
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I think you may be on to something there like. :lol:

Leasing a car makes loads of sense for a lot of less well off people pure and simple.
 
AndrewP said:
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You can see why it might appeal.
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Works out at £274 per month. Not bad really. £6583 to borrow a car for 2 years.

Mackem00 said:
I think you may be on to something there like. :lol:
Leasing a car makes loads of sense for a lot of less well off people pure and simple.
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Cash poor but asset rich is an example when leasing / PCP makes sense. Its also a lot easier than having to sell and buy another car.
 
PTR said:
Works out at £274 per month. Not bad really. £6583 to borrow a car for 2 years.
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Cheap for a £35k car. That's what, ten years worth and 5 new cars for the price of buying a new car worth next to nowt in 10 years time?
 
AndrewP said:
Cheap for a £35k car. That's what, ten years worth and 5 new cars for the price of buying a new car worth next to nowt in 10 years time?
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Which is the same as the (top) reply on HUKD on this deal. Best one I've seen to the usual lease deal detractors. Was that you?
 
AndrewP said:
Cheap for a £35k car. That's what, ten years worth and 5 new cars for the price of buying a new car worth next to nowt in 10 years time?
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It is. But 35k isn't what it's really worth, the dealer would slash loads off Rrp and a 6 month old one would be about 25k. The lease offer is an offer and rarely directly compareable to Rrp
 
Why does it have to be local? I just got a lease car delivered here from the Midlands on the back of a wagon. All dealt with on phone/email.

There are some very good deals available nationally at the moment. I was running a 6 year old car, and doing the maths it was cheaper for me to get a new lease car for 2 years than to continue running my existing car for the same time.

Old car was going to need 4 new tyres, brake discs/pads, breakdown insurance x 2, road tax x 2, MOT x 2, major service + brake fluid change. Obviously no warranty if anything else went wrong such as engine/exhaust and it would depreciate further over the time.

Lease car should need none of those in the 2 years I have it, just probably a single minor service and has full warranty.

It may not work so well if you do higher mileage, but for low mileage it made a lot of sense. Also for the best deals you probably can't get the exact model you want.
 
mcq10 said:
No but the next financial crisis will be partly because of this.

People working in call centres and shops for example, driving around in huge, expensive unsecured loans

Someone on here posted last week that they were paying 450 quid a month to lease a Porsche

The whole concept is like a house of cards
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Given that a lease isnt a loan i dont think it will be. No different to renting a house

I think you mean PCP
 
PTR said:
Works out at £274 per month. Not bad really. £6583 to borrow a car for 2 years.


Cash poor but asset rich is an example when leasing / PCP makes sense. Its also a lot easier than having to sell and buy another car.
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Not always easier than doing a conventional p-ex as your lease deal would end on a specific date and your new car can be delayed, sometimes by months. If you are doing a p-ex you just hang on to your current car until the dealer has the new one. With a lease company you could have a gap with no car to use.
 
Our lass (no) just got a cracking deal at Renault on Wessington way, quoted her one price, ended up with a higher spec car for £20 less than she had been originally quoted. Totally hassle free too.
 
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