Car leasing...A good thing?

maybe....so would doing the bangernomics ideal. but

to put a fairly decent car on your drive new leased or purchased out right..
or even second hand but still decent, you might be suprised how much the costs can be....
if that cost is close to each other why not go new or leased.....

I'm not here to argue I know how these threads go......just want to put the other side across......that leasing is slightly more expensive(maybe, depends on car other factors etc) but it is a good way to get in to a new car at a fixed price, with out paying out 10-15K straight up....


bullit
 
I think he's talking about the dreaded "D" word.

Excluding servicing, insurance and tax I've just worked out that my car costs me a fiver per day but as it's so old now it "D"ing hopefully at a lower rate.
Click to expand...

I dont know what it is you drive though

bingo... dont forget mot, minor repairs and such the like....possibly even servicing, most new cars come with long service intervals fixed price servicing from the dealers etc.


bullit
 
bullit in head said:
I'm not here to argue I know how these threads go......just want to put the other side across......that leasing is slightly more expensive(maybe, depends on car other factors etc) but it is a good way to get in to a new car at a fixed price, with out paying out 10-15K straight up....
Click to expand...

but... it cannot be compared.... directly because really its just.... a hire car.... and you've got nothing to show at the end of the lease......
 
of course you can .... it's a car for your personnal use day to day, who owns it doesnt matter,. for all intense purposes you own it you pay for the up keep, just like you do with yours....

if you sold yours you would have nothing at thhe end either , thats how you work out the total costs involved.....

start with nothing
buy any which way
sell
work out total cost spread across the years/time had....=profit ????

all cars will have a similar cost maybe. apart from low cost cars but lets limit it to descent cars....


bullit
 
bullit in head said:
of course you can .... it's a car for your personnal use day to day, who owns it doesnt matter,. for all intense purposes you own it you pay for the up keep, just like you do with yours....
Click to expand...

Of course it matters who owns it. You pay for the upkeep than at month 24 a transporter arrives and takes it away!

if you sold yours you would have nothing at thhe end either
Click to expand...

No, if you sold a car you owned you'd have.... some cash at the end!
 
No, if you sold a car you owned you'd have.... some cash at the end!
Click to expand...


very good now add that to the calculation.......

your good with numbers fox , do you want to do a quick calculation on your cost.
use what you bought it for a - what it's worth now, you can be conservative if you like.
then add all the times it's broke down and the cost associatted with it.



I quess over the four ? years of ownership 7-9 quid a day.... dont include insurance or tax or petrol.. am I close???


bullit
 
The only way you can come out of it with any cash at all is if the car's worth more than you've got outstanding (like mine was). Even then if you sell it and pay off the outstanding you'll have some cash but you'll still be down whatever you've already forked out on lease payments
 
bullit in head said:
your good with numbers fox , do you want to do a quick calculation on your cost.
use what you bought it for a - what it's worth now, you can be conservative if you like.
then add all the times it's broke down and the cost associatted with it.
Click to expand...

As a completely rough off the top of my head thing...

Over 3.5 years:

Depreciation £3000
Non-Service repairs: £2000?
Road tax: £700
MOT's £90

= £5790

= £4.53 a day?

Thats completely approximate and doesnt include servicing costs, tyres, petrol, insurance, etc etc - ie things you'd still need to pay for even if you had a lease car.

But I'm not sure what you are trying to demonstrate as I bought a 4 year old car not a brand new one?
 
bullit in head said:
and how much are you paying now?
remember every thing has a per day/month whatever value, just some are easier to calculte than others

bullit
Click to expand...

depreciation is a sunk cost for me, it's already spent, 2 years ago in fact, there's been no outlay of cash relating to the car being on my drive since. That's what I like.

Some like to spend their money the other way and pay monthly etc then hand the car back or whatever, thats fine, but I think my way is more logical, UNLESS for example, the capital you pay to purchase the car outright could be better used elsewhere.

MAKE NO MISTAKE! It's not a ripoff for businesses, as its not taxable and they dont have to worry about depreciating assets etc, the 17.5% a consumer pays on top makes it expensive.
 
Last edited:
not to bad. but I would like to say thats down to you. the car was a good un. although I did put the "D" at 5K, and road tax car be left off as thats car specific.



so 4.50 a day as a good buy, now lets have someone else have a go. I dont know someone with a mondeo.

fairly new one please and see what the cost is...

this is a bit of fun btw, just as and exercise to show that the costs arnt that far away from each other..... okay fox's costs are half that of a new car but like I said his was a wise purchase.

But I'm not sure what you are trying to demonstrate as I bought a 4 year old car not a brand new one?
Click to expand...

true but you costs arnt that far away from a new descent car. so car be compared sort of..but thats not the point, its whatever you drive, NEW or 2nd hand the costs are fairly closely grouped together.


bullit
 
I hadn't ever considered this but I think it makes a lot of sense - just looked into getting a Golf Bluemotion. It's only about £10'000 for 3 years all in. I mean it's an £18'000 car! I can't see it being worth that much more than £10k in in 3 years time, so you're only really paying 2k for the luxury of finance.

It would save me over £100 in fuel each month!

Thanks for the idea!

Sam
 
bullit in head said:
true but you costs arnt that far away from a new descent car.
Click to expand...

My costs are light years away from a comparable car thats new?! I couldnt even lease a Fiesta Zetec for the costs associated with owning mine, excluding obviously the routine maintenance stuff which I freely admit will be considerbaly more than the Fiesta.
 
[TW]Fox;16009781 said:
Only £10,000 to borrow a car for 3 years. Bargain, where do I sign?
Click to expand...

Yet you're quoting about £6000 costs of owning your car for 3 years? And you haven't included fuel. Bluemotion Golf would use a lot less fuel than the BMW. So I suspect the costs of owning the car for 3 years are pretty damn similar!
 
[TW]Fox;16009697 said:
Over 3.5 years:

Depreciation £3000
Non-Service repairs: £2000?
Road tax: £700
MOT's £90

= £5790

= £4.53 a day?
Click to expand...

Second hand cars cost less than new cars shocker :p
 
the new Fiesta 1.25 i had on finance cost £150 per month for 3 years. This, now 7 year old, Passat cost £3800 2 years ago, and still worth about £2500-3000 (low mileage, if you're asking!).

I know which I'd rather drive.

*No jokes about Passats plzthx!*
 
daz said:
Second hand cars cost less than new cars shocker :p
Click to expand...

I was responding to a question somebody asked of me, not suggesting buying a 4 year old car is the way forward. I still dont really understand why we are comparing leasing with 4 year old cars :confused:
 
You must log in or register to reply here.
Back
Top Bottom