Car leasing
- Thread starter BenBhoy
- Start date
Some great deals out there Ben - just be careful with any damage - scratches etc when you return it - The costs can be eye watering
BenBhoy
Well-Known Member
You got one mate?
Exactly this, My neighbour always leases and they go over the car with a fine tooth comb when the lease is up, Scuffs on the wheels slight scratches etc etc are all picked up on and charged for, On the same note it must be worth her doing it as she always goes back and leases
Leasing is good if self employed and Mrs likes a new car every couple years.
To get value for money you need to keep car in good condition as they will hammer you when vehicle is returned.
Modern vehicles seem to throw electrical faults regularly, my 21 plate van sitting at dealers now with electrical faults
leasing a vehicle puts responsibility for faults with the provider.
To get value for money you need to keep car in good condition as they will hammer you when vehicle is returned.
Modern vehicles seem to throw electrical faults regularly, my 21 plate van sitting at dealers now with electrical faults
leasing a vehicle puts responsibility for faults with the provider.No i havent pal
Never have to be honest
I was sort of on the other side of it
I worked for an auction and sold the lease returns - we now buy them and retail them - but its mainly vans now
BenBhoy
Well-Known Member
How much of a mark down on new model is there at auction mate?
McKenzie
Well-Known Member
Thought about it a few times as I’m self employed but I’m very hard on my vehicles & often do high mileage so I decided it wasn’t a sensible option for me. I far prefer buying an older car for a modest sum & running it into the ground over 5 years or so & not having to worry about dings & scratches. Cars are just working tools to me.
BenBhoy
Well-Known Member
That's what I do. But it's got to stage now she won't use mine as it's filthy. I feel bit guilty she has to put up with it whilst all her mates are going about in new range rovers & mercs.
I leased my pickups for years. It was an absolute no-brainer, and I would have been happy to continue without ever buying a vehicle again.
However, about 2 years ago there was a significant price hike which meant it was no longer financially justifiable unless you were doing a huge annual mileage, so sadly I have had to revert to buying one.
However, about 2 years ago there was a significant price hike which meant it was no longer financially justifiable unless you were doing a huge annual mileage, so sadly I have had to revert to buying one.
As i left a couple of years ago - it was getting to the stage with supply chain issues where you could almost buy a new car / van - and sell it for similar money 6 months later
I have just sold the Mrs - Jimmy - we gave £26500 for it 2 years ago - and just sold it for............ £26499
The prices of used are returning to "closer" to normal slowly - but to be honest they had got too cheap really
Skietindiekop
Well-Known Member
I cannot understand how a private leasing arrangement can make financial sense. Business use is clearly tax efficient but private deals mean you are paying at least 20% more than a vat registered business user and have no way to expense anything other than mileage if used for work.
nun_hunter
Well-Known Member
That's the crux of it, unless it's a business expense then it's just to be able to keep up with the Jones', champagne tastes on Lambrini money
I'd expect with the recent hike in interest rates the deals aren't as good as they once were, but then on the flip side since COVID secondhand values have been much higher.
nun_hunter
Well-Known Member
They were only cheap because interest rates were so low that it was easy for people to afford a new car on finance or a loan which made a new car even more appealing.
Rasputin
Well-Known Member
Lease all my vehicles (4 now) private and business had zero issues upon return. Excess mileage is the main thing to watch but even then despite penalties had no issues. What I would say is that you need to really shop around as some of the lease prices are astronomical on certain vehicles if administered by 3rd parties.
Morkai
Well-Known Member
Never been a fan of the idea.
Pay a few hundred to £500 a month for a sh*t car or fork out a £5k deposit and £700+ a month for something decent.
Neither sound appealing.
My boss has a car that's about £800 a month. That's mortgage money, essentially being spunked on a rental car.
Pay a few hundred to £500 a month for a sh*t car or fork out a £5k deposit and £700+ a month for something decent.
Neither sound appealing.
My boss has a car that's about £800 a month. That's mortgage money, essentially being spunked on a rental car.
Morkai
Well-Known Member
A few friends have new beamers etc on tick.
One is £750 a month....£9000 a year!!
They can keep them, I'll keep my 2014 plate on 88k that I've had for about 6 years and paid £12k cash for.
nun_hunter
Well-Known Member
A colleague and his wife from my old job both had lease cars, an Audi S5 and an Audi Q5, best part of £1100 a month. It makes sense if you want/need an expensive car that you can't afford to buy and want to keep refreshing it.
Morkai
Well-Known Member
There are plenty of cars I would like to have and could go and get on finance but I couldn't bring myself to commit to that type of payment every month. Probably because I see it as better off in my pocket than theirs.
I just have to think after the the new car excitement has worn off, I will be lumped with a big (unnecessary for me) monthly payment.
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