car lease

86JR

86JR

86JR

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Hi

im looking to get a car on lease in march 09.

Ill have £500 a month to spend, as i have my own business going on being setup currently and i can claim the tax back.

Currently do 80 miles a day but moving house so that 80 will become around 20.

Was looking at e92 335D's as i love the autovogue looks but im not sure you can lease autovogues. However im not sure if a 335d is worth the money ? its top of the range but having read some threads people dont seem to like it too well.

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Im aware of limited mileage when leasing but if that becomes a problem ill pay more.

I was also looking at an ISF v8 and a rangerover sport. all of which i can get for £500 a month inc maintanance. I also like the fact i cant modify it, as i normally do.

Every 3 years i get to look after a new car, and leasing seems to be a good idea in the current climate of depreciation.

any thoughts ? i plan to test drive a 335d soon but not sure i need that model, would a 330d etc be better ?

I would have a petrol one but i like to not have to use all the gears these days, normally i set off in 2nd then change into 4th then 5th....

thanks!
 
I would be HUGELY suprised if you can lease a BMW 335, Lexus ISF or a Range Rover Sport for £500 a month inc maint. Hugely suprised.

That Autovougue kit is awesome, I love the look of that car. I wonder what the quality of the bodykit is like?

Occupation
2nd year UNI @ Plymouth!
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LOL hang on? Is this thread a joke?

btw, the 335d is automatic only so you dont really get a choice of what gear you want :p
 
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you cant go to uni, run a business at the same time ? drop the jealousy mate, anything is possible.
 
twoblacklines said:
you cant go to uni, run a business at the same time ?
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You can't go to Uni and setup a business which, in its initial stages, generates enough turnover to fund the cost of a brand new Range Rover Sport, no :p

drop the jealousy mate, anything is possible.
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Jealousy :confused:

Not everything is possible, some things are not, for example. Like running a fully maintained Range Rover Sport for sub £500. All the sub £500 lease quotes have mileage restrictions are not maintained.

I suspect you've not really looked into this very hard. It's doomed to failiure.

Rule 1 of setting up a business: Get it running first, bling-wagons second.

I rather suspect you've got a little bit over-excited and set your sights a tad too high. You realise you need to be VAT registered to claim the tax back, right?

I've ignored the IS-F because the notion of a Uni student on a full time course setting up a business and, initially, running a brand new 500bhp Lexus is too amusing for words.
 
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I can think of more than a few businesses that would generate that sort of cash by March next year.
 
Sukh said:
I can think of more than a few businesses that would generate that sort of cash by March next year.
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I'm not really disputing that, but surely leasing a hugely expensive car is a ridiculous overhead to add at inception of a business he can only work on part time. It's just a silly idea and is doomed to failiure.

Leasing can be expensive - as a guide I've just found a Range Rover Sport TDV6 for £437+vat a month. If you are VAT registered, this will be £437 but you won't get ALL of the vat back surely, you can only claim half of it if the vehicle is for personal use as well as business use.

So thats £470.

Then you've got to comprehensively insure it, which at 22 will be what, £1500?

We are up to £600 a month.

It's not maintained, you wont get a maintained lease for this sort of money so you've got to maintain it yourself. Lets estimate a set of tyres on average every 2 years. Decent Bridgestones are £207 each. So thats £414 a year or another £34.50 a month.

£634 a month.

Now it needs servicing, obviously. Average of what, 750 quid a year at a Range Rover dealership if we include brake/coolant changes as well as discs and pads when required. £62.50 a month.

So now we are already at £700 a month. Going well this, isn't it?

Now it needs taxing. It's in the £400 a year tax band. Another £33 a month.

£733 a month now. And remember, this is assuming you are VAT registered which I'm guessing you wont be, at least initially.

So, brilliant, 733 quid month. On a brand new startup business, which you are running whilst you also do a full time degree course. Now it's perfectly possible to run a business whilst at Uni but its bloody hard work and even businesses ran full time don't instantly generate revenues large enough to justify such an extravagant choice of lease car.

And now onto mileage charges... All these cheap leases are 10k PA. Thats below average mileage. You'll almost certainly exceed that without realising. Lets assume you only do average mileage and go 2000 miles over the lease per year, so thats 6000 in total. 20p a mile is a reasonable excess mileage charge on a residual sensitive high value car. So thats anotehr £400 a year or £33 a month.

So, the grand total, for your brand spanking new business, for you to hoon around in a bottom of the range V6 diesel Range Rover Sport is...

£766 a month.

Over the 3 year period, thats almost THIRTY THOUSAND POUNDS. And after the 3 years, you have nothing. Zilch. No asset. Nothing on your balance sheet. It's gone. Wouldn't you rather invest that money in your business more usefully? Running a business is about sacrifice. You can have the bling once you've made a succesful go at it because if you try and have the bling at the beginning it'll fail.

Especially in a recession.
 
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Aside from the fact that RFL is usually included with leases Fox has it pretty much spot on - it won't happen for that budget.

Leasing makes a lot of sense if you get the right deal. Otherwise, especially with cars of this type, you're better off buying a 2 year old example on straight forward finance.

Edit: And yes, 50% of the VAT if the vehicle is for personal use. You (the driver) also have to pay company car tax - the only exemption is if the car is classed as a pool car which it can't be if any employee takes it home of an evening.
 
Do yourself a favour and lease a Focus diesel if you must have a car against the business. Even better, purchase something cheap and put the rest of the cash into your business.
 
Adz said:
Aside from the fact that RFL is usually included with leases Fox has it pretty much spot on - it won't happen for that budget.

Leasing makes a lot of sense if you get the right deal. Otherwise, especially with cars of this type, you're better off buying a 2 year old example on straight forward finance.

Edit: And yes, 50% of the VAT if the vehicle is for personal use. You (the driver) also have to pay company car tax - the only exemption is if the car is classed as a pool car which it can't be if any employee takes it home of an evening.
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OT, what you replacing the A6 with, lease must be up anyday now?
 
£500 per month including maintenance will get you into something with 'L' on the back and with about 12bhp.





or worse something diesel
 
Sone said:
OT, what you replacing the A6 with, lease must be up anyday now?
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End of January and I'm not sure yet. The problem is that leasing only works well if you get the right car like I did with the A6. SLKs are looking good at present since I no longer need boot space.
 
and considering im making £100 or so minus expenses on every SINGLE item of the product i will sell, it isnt really that expensive now is it.

The point is, i asked about what cars. not for business advice, if i had done so I would have asked for it, but i dont need it. I could spend £1k on just the car lease if i so wished, but i have budgeted. you shouldnt laugh at me without knowing all the facts which im not going to give, ive given you a fact that i can afford one, and your laughing at me.... sigh
 
twoblacklines said:
and considering im making £100 or so minus expenses on every SINGLE item of the product i will sell, it isnt really that expensive now is it.
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That rather depends on how many items you sell and what your expenses are, don't you think? :p

The point is, i asked about what cars. not for business advice, if i had done so I would have asked for it, but i dont need it. I could spend £1k on just the car lease if i so wished, but i have budgeted. you shouldnt laugh at me without knowing all the facts which im not going to give, ive given you a fact that i can afford one, and your laughing at me.... sigh
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lol

Why would anyone want to spend nearly 30 grand to HIRE a Range Rover for 3 years?
 
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