Good car leasing company for personal use?

no_1_dave

no_1_dave

no_1_dave

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Does anyone know a good car leasing company?
I've decided that instead of buying a new car I might look into leasing one so I get a new one every 2 years etc for roughly the same price (if not cheaper) then taking a finance option.

Does anyone here lease their car?
I'm looking for somewhere that offers good deals & wont screw me over as I've never leased a car before...
 
Works out a lot more expensive in the long run i think.

Get a 2nd hand car. Only mugs and people that can truly afford it get new cars.
 
Do not get a lease car, ive been down that road and its just not worth it. Complete money pit. Should be in motors btw :)

Edit - I lease my leon fr diesel, its going back in march. 4 year lease, 15kmiles per year, maintenance and it costs £340+VAT. Thats £16320+VAT on a car that costs £19600ish new. Currently sitting at 80000miles so will be looking at a hefty excess mileage charge on top of that.
 
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all the naysayers.....

there is nothing wrong with leasing cars, and yes your right it can work out better/cheaper than buying a new car on finance/cash.

and yes it is more epensive than a second hand car, but then it's not a second hand car, it new and you are the first one to own drive it.


bullit


edit: you want some names,well the manufacturers are a good place to start,sometimes the dealers get good offers in, or there are the lease companys, like dare I say it Ling's, never used them but the prices are cheaper than most quote,but the unproffesionallity of the web site sorta puts me off. I'd also like to think that quotes given by any company can bartered down a bit. ring a few places and see what prices your given,
what car are you thinking of anyway, any thing special will attract a premium to these companys. bread and butter is cheaper
 
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no_1_dave said:
Does anyone know a good car leasing company?
I've decided that instead of buying a new car I might look into leasing one so I get a new one every 2 years etc for roughly the same price (if not cheaper) then taking a finance option.

Does anyone here lease their car?
I'm looking for somewhere that offers good deals & wont screw me over as I've never leased a car before...
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EFL Limited..

I use them and they are good. Unlimited mileage and unlimited damage..
 
Do the maths, it is not cheaper.

When leasing it, somebody else buys it, rents it to you, then takes it back and resells it at the end of the term. The price per month is worked out as follows:

Purchase price - Resale value + Added profit / number of months. This is why the mileage limits are low and excess mileage charges are high - its ALL about the residual value of the vehicle.

You are paying somebody elses depreciation and a profit margin for them. Leasing only really works if:

a) You are SO desperate to own a new car despite not being able to get a decent deposit to buy your own that you'd rather hire somebody elses, perhaps because you want your neighbours to think you are wealthy enough to own a new car when in reality you are not
b) You are leasing it through a business, therefore it is tax efficient
c) You are running a large vehicle fleet and value convenience over cost
 
Gav said:
I use them and they are good. Unlimited mileage and unlimited damage..
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Really, so I could lease a brand new car from them, do 150,000 miles in 3 years, smash every panel in and kerb every wheel and hand it back at the end of the lease with nothing to pay?
 
[TW]Fox;15466295 said:
Really, so I could lease a brand new car from them, do 150,000 miles in 3 years, smash every panel in and kerb every wheel and hand it back at the end of the lease with nothing to pay?
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Yup, 3K per month over 3 years. £108K M3.
 
Bennie-Mac said:
Edit - I lease my leon fr diesel, its going back in march. 4 year lease, 15kmiles per year, maintenance and it costs £340+VAT. Thats £16320+VAT on a car that costs £19600ish new. Currently sitting at 80000miles so will be looking at a hefty excess mileage charge on top of that.
Click to expand...

It maybe cheaper to hand it back earlier and pay a smaller mileage charge (assuming its PCP). That also seems very expensive lease btw, exec car money.
 
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[TW]Fox;15466295 said:
Really, so I could lease a brand new car from them, do 150,000 miles in 3 years, smash every panel in and kerb every wheel and hand it back at the end of the lease with nothing to pay?
Click to expand...


Well i have a van through them and it does 60,000 miles a year and it pretty beat up. And they take it back every 3 years.

So in answer to your question.

Yes
 
Wow so you've got a van, and an M5, and a Golf. Quite the collection!

It wont be a truely 'unlimited damage' policy surely? If it is then the price must be high enough to reflect the sort of damage you'll get OR whats more often the case with van leases is that the lease company depreciates the van to near zero during the time the policy is on for. Common ones are £250ish a month Berlingo policies, and you can keep the van for £1 at the end of the term... yea because the van is very cheap to buy anyway so they make back the depreciation?
 
If you look around you can get a good little car that takes you to places for £100. Not saying it'l work miracles, but it's probably wise to spend a bit more.
 
[TW]Fox;15467330 said:
Wow so you've got a van, and an M5, and a Golf. Quite the collection!

It wont be a truely 'unlimited damage' policy surely? If it is then the price must be high enough to reflect the sort of damage you'll get OR whats more often the case with van leases is that the lease company depreciates the van to near zero during the time the policy is on for. Common ones are £250ish a month Berlingo policies, and you can keep the van for £1 at the end of the term... yea because the van is very cheap to buy anyway so they make back the depreciation?
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The berlingo only costs £169+vat per month not £250

At the end of the hire term it goes back and i get billed £0.00

I then take out a new agreement on a new van for 3 years and repeat the above..

But then I have only been in business for 11 years and i have only had 3 leased vans with EFL so your probably way more educated about such matters than I am and you obviously know everything about everything
 
Just been on the website - its £219 a month for a Berlingo on a 3 year lease. Plus a deposit of £750. So over 3 years the lease costs you £8643+VAT.

To get it for under 200 quid you need a 4 year lease. Then its £169+vat, same deposit, £8862+vat.

The vans LIST PRICE is 9345+vat, nobody pays list price let alone a leasing company so they are paying no more than £8k for the van.

So like I said - the only reason they are offernig you 'unlimited' mileage and dont care about the condition is because the van is depreciated to zero - you pay them more to lease the van than it costs to buy the entire van!

Which is what I suggested in the first place.
 
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[TW]Fox;15467371 said:
So if you dropped it back off with a massive scrape down the side, 160,000 miles on the clock, the front wing hanging off and missing a rear bumper they'd not bill you a penny for the damage?
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The last one had a badly dented rear door, where a bucket lorry decided to reverse into it. Various other scrapes and dents as well as a cracked windscreen which happened on the morning that they came to pick it up.

cost for damage £0.00
 
Looking at the site, you don't get billed for damage or excess miles but i get the impression you won't get your deposit back.

Which for that Van is £750.

Also i still waiting on your M5 pictures.
 
Firestar_3x said:
Looking at the site, you don't get billed for damage or excess miles but i get the impression you won't get your deposit back.

Which for that Van is £750.

Also i still waiting on your M5 pictures.
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No you don't get your deposit back.. That is part of the lease..


You will be waiting a few weeks longer than fox will be waiting
 
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