Good car leasing company for personal use?

So lets see whether your bargain lease company who don't even care about mileage are a good deal for a car shall we? Lets use a Passat diesel as the example, on a 4 year lease.

Deposit £1500+vat
48 payments of £299+vat
Total cost of lease = £15852+vat = £18229.

Which is more than you can buy the Passat for outright.

So the only reason you get such a lenient lease co is because they dont care, you've paid them in total more than the car cost to buy!

Normal leasing companies dont work like this, you hand the car back and as a result pay less than the value of the vehicle. This is when the residual cost matters.

So whatever company you pick, even yours, I'm still right?

Remember, what I said was:

Purchase price - Resale value + Added profit / number of months

Which fits with EFL. Because the resale value is 0.
 
leasing is an alternative to owning outright. I didn't say it was cheaper and i didn't say EFL were a bargain company either..

EFL are a good company to deal with and they have been good to deal with over the years. The topic of the thread is "Good car leasing company...." not "bargain car leasing company...."
 
And my point is that you can argue that there is no such thing as a good lease company for a personal lease :)

Just found this gem on the EFL site..

Because our stock of vehicles are high quality late low mileage pre-owned, or pre-registered you benefit from low payments
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So they are not even leasing you a brand new car. You lease a USED car from them. No wonder they don't care what the residual is, they are taking more money/almost as much money off you than the vehicle costs new and supplying you with a used car!
 
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They do supply so pre-owned vehicles as well as some pre-registered vehicles but they also supply BRAND NEW vehicles..

You need to get a life fox.. you seriously have a problem.
 
Gav said:
They do supply so pre-owned vehicles as well as some pre-registered vehicles but they also supply BRAND NEW vehicles..
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Says on the website that vehicles supplied under the unlimited mileage plan are preowned or preregistered. They also offer conventional contract hire which are brand new vehicles, but of course dont have unlimited mileage/any condition and have annual mileage limits.

You need to get a life fox.. you seriously have a problem.
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Because I like to discuss/debate cars and related topics on an internet forum? :confused:

I think you need to look in the mirror as you are the one crossing the boundary from arguing about how to buy a car to personal insults.
 
[TW]Fox;15467520 said:
Because I like to discuss/debate cars and related topics on an internet forum? :confused:

I think you need to look in the mirror as you are the one crossing the boundary from arguing about how to buy a car to personal insults.
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You don't debate anything.. You seem to think you know everything about everything..

Didn't someone else have a dig at you a few days ago?

"don't tell me you have made a mistake fox" or words to that effect..

I'm not even going to get into a "debate" with you.. I'm obviously not of a high enough intelligence to converse with a being as enlightened as yourself.
 
Sorry gav but fox is bang on. We went through all this ages ago with multiple lease companies with some cars i brought up. Every single way you work it out leases never work out.

Its obvious anyway, they are a company in the business to make money. They have costs and salaries to pay. Of course it doesnt work out :p
 
Gav said:
You don't debate anything.. You seem to think you know everything about everything..
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Thats your perception, I have never claimed nor will I ever claim to know everything about everything. There are loads of things I dont know, loads of things I get wrong, I just post what I think. I invite anyone to make me look daft by using fact and logic to counter any argument or opinion I might have, its the point in discussion.

People like you read too much into my motives. I'm an outspoken opinionated nobody on an internet forum. This place is a better place when you realise that and stop trying to think I'm trying to be some sort of amazing all knowing being - I'm not.

I'm not even going to get into a "debate" with you.. I'm obviously not of a high enough intelligence to converse with a being as enlightened as yourself.
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Your words not mine, thats certainly not something I think. There are probably numerous things you know more about than me. We'll probably never know what they are though as you've rejected any attempts I've made at friendly conversation and genuine interest towards whatever it is you enjoy about motoring.
 
[TW]Fox;15467520 said:
Says on the website that vehicles supplied under the unlimited mileage plan are preowned or preregistered. They also offer conventional contract hire which are brand new vehicles, but of course dont have unlimited mileage/any condition and have annual mileage limits.
Click to expand...

Interesting (and telling?) that Gav totally ignored this paragraph and just went straight into 'toys out of the pram' mode. :D
 
Actually Fox I think the Passat example is worse than you thought - if I'm not mistaken its for a 9 month old 09 Passat?
 
Leasing is only viable for Businesses, if the OP is considering it for personal usage, I would suggest against it.
 
Duke said:
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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Its going "off road" as of the 8th of this month, so i dont add more miles. Getting an Audi A3 1.6 Sport.... :( as a temporary car for 8 months (currently on lease but the guy using it no longer works for the company so im just running out the rest of the contract) Handing back earlier results in huge charges, plus i need some time to fix all the dents etc so i dont get stung with dealer rate repair bills.

Sorry ive just checked and the £340 was actually including VAT, which i didnt think was a bad price considering the "above average" miles and includes maintenance. Its had 8 services and about 20 tyres in its life which i didnt have to pay for (technically) :) Edit - Also got the turbo replaced after warranty ran out.
 
I wouldn't consider leasing a vehicle for personal use if you are paying for it.

For the past 3 years I have had a company car supplied by my work via a leasing company, I did get a different car each year which was nice but I wasn't paying for the lease only the company car "benefit in kind" tax, I did also pay for my own insurance and overall it worked out cheaper for me than buying a car of the same age/type.

The last car I had on lease was a 58 plate BMW 320i Coupe (work paid about £1k deposit and then £349 + VAT a month for 12 months), it was delivered with 7 miles on it and was supplied with full leather and 19" alloys (not specified by us, but it was delievered like that and cost us no more - the one they ordered had standard alloys and cloth interior I did get to choose the colour though - most leases don't include extras without a hefty premium).

Now my work have stopped using lease vehicles and provide a monthly car allowance instead (we only had 2 weeks notice before the car was collected that this would happen so hadn't really planned for it).

I liked the new car each year as I certainly wouldn't buy new and who wouldn't like a new car if you aren't paying for it!? (apart from the company car tax) but now I have have to pay for a car and its upkeep I am avoiding leases :)
 
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The only reason I could justify Gav leasing for a businesses is to have to outlay capital or finance on a car. Other than that, it is very clear leasing is not a good deal.
 
I was actually looking at a lease for a new M3. £750 a month for 3 years with 2.5k deposit.

Works out to be about 30k over 3 years and includes road tax for 3 years.

However, seeing as i'm hoping to be working in Sydney in about 4-5 months I obviously wont be going down that road. I've looked at the sydney car marking and leasing seems to be non-existent :(

Edit: bit surprised also that the Nissan GTR is a lot more to lease - about £1100 a month. I thought they'd be similar given the price similarity (~60k) and that the GTR would have higher residual value.
 
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