Car leasing...A good thing?

bullit in head said:
not at all I'm not pro anything, like I said I not bothered where you spend your money, just be sure you know where your spending it, thats why I asked fox what his daily cost was and anyone ekse who wants to join in, My point is or hoping to prove is what ever you drive/own the costs are fairly similar. so if the new car costs and extra £2 a day why not have that nice new car smell and a full manufactures warentee.

now with all statistics there will be the few that screw the results, (both ways) these are either smart or lucky/unlucky people.
infact calculator out I'm going to put some of my numbers in :
galaxy
bought 6000
valu now conservativly 3000
repairs servicing etc 2900...only so high due to gbox going
owned for 3 years

£5.38 per day

clio owned from new not leased but on finance
this will skew the results as it is worth more thaan I paid but here goes
bought 6000
worth 6000 now
but cost 99 a month plus servicing so 2800 ish
owned two years

£3.83 a day



not far off the mark of each other


bullit
Click to expand...

I think it would serve your argument well if you compared apples with apples.........

Oh and 99 a month on the clio, what were you doing to the car:eek:
 
bullit in head said:
clio owned from new not leased but on finance
this will skew the results as it is worth more thaan I paid but here goes
bought 6000
worth 6000 now
but cost 99 a month plus servicing so 2800 ish
owned two years

£3.83 a day
Click to expand...

Whereas leasing a new clio would cost nearly double that...
 
When you lease you pay for the depreciation on the car *and* the profit margin of the leasing company.
Click to expand...

you pay for the "d" on any car though, and if you buy from a garage you pay his profit margin. if you buy from private owner you save that but have no safety net if it goes wrong. but thats a different story altogether.

come on people some more numbers please. this is starting to go around in circles.

bullit
 
Oh and 99 a month on the clio, what were you doing to the car
Click to expand...

sorry thats the finance cost.... its very basic

apples are apples yes but I added the numbers ,not to compare the cars but the numbers.
care to add yours?


yeah just looked at leaseing costs for the clio , didnt realise they went up last month they were 150...noticed citroen went up as well I was looking at a c4 grand picasso to replace the gal, it was £250 then shot up to £300

bullit
 
taximike said:
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!
Click to expand...

Come on, a poxy base model diesel Golf with an 'eco' badge vs a high spec 530i? Other than the obvious commonalities such as both having 4 wheels, how are these remotely comparable?
 
[TW]Fox;16011155 said:
Just a hint but I didnt chose my car based on low running costs... of course its to do with the car!
Click to expand...

Neither did I.

The real problem is that some people like the idea of a new car, the type, model and spec doesn't matter to them provided it's new. I sank loads of money when I was on the company car scheme and never really bothered to get out until the range of cars that they offered turned crap.

On the flip-side, there's a guy at work who has been leasing a 330ci for the last x years, every 2 years he hands it back and get a nearly new one, sinks around £550 into it each and every month. When I asked him why? He simply said he has no spare capital to offer as a deposit to buy a car, can afford the monthly payments, wants a nearly new car every few years and lastly that he can't be bothered when the time comes to sell and replace. This way he simply rings his local BMW garage and tells them to get in a replacement.
 
IAmATeaf said:
On the flip-side, there's a guy at work who has been leasing a 330ci for the last x years, every 2 years he hands it back and get a nearly new one, sinks around £550 into it each and every month. When I asked him why? He simply said he has no spare capital to offer as a deposit to buy a car, can afford the monthly payments, wants a nearly new car every few years and lastly that he can't be bothered when the time comes to sell and replace. This way he simply rings his local BMW garage and tells them to get in a replacement.
Click to expand...

Yet if he'd been doing the same with nearly new (or even new yet bank loan financed) cars he'd have worked his way into a Porsche or something by now the amount of time he's been doing that..
 
What people are forgetting is he hasnt got £8k and no incomings.

at the end of the 24 months hes going to be less £8k but plus whatever 2 years of wage is minus outgoings.
 
taximike said:
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.
Click to expand...
Assuming you're right about depreciation, you could get a bank loan at a rather hefty 10% apr and still only pay £1200 for the credit. Is it worth £800 to not have to sell the car after 3 years and not have the freedom to do whatever mileage you want?

[TW]Fox;16009781 said:
Only £10,000 to borrow a car for 3 years. Bargain, where do I sign?
Click to expand...
You really need to drop the 'hire car' routine. It is no different to getting a loan, servicing the loan for three years and then paying off the balance when you sell it. The fact that they don't own the car is the same whether it's a lease, PCP, finance or a loan. It's just a more expensive way of doing it and that is what principally makes it a bad idea IMO.

twoblacklines said:
What people are forgetting is he hasnt got £8k and no incomings.

at the end of the 24 months hes going to be less £8k but plus whatever 2 years of wage is minus outgoings.
Click to expand...
So? That doesn't make it any better value for money?
 
monkey_boy said:
You really need to drop the 'hire car' routine.
Click to expand...

I don't - its what it is and many people forget this. A lease is a long term hire.

It is no different to getting a loan, servicing the loan for three years and then paying off the balance when you sell it. The fact that they don't own the car is the same whether it's a lease, PCP, finance or a loan. It's just a more expensive way of doing it and that is what principally makes it a bad idea IMO.
Click to expand...

You own the car if you take out a bank loan - its normally unsecured. Its your car.
 
There is another downside not yet covered. If my experience with Audi (VWFS) leasing is anything to go by, you will need to treat the car like it was your newborn baby daughter to avoid paying for "damage" at the end of the lease. The slightest imperfection and you'll be charged main dealer bodyshop rates, perhaps to replace the whole panel.

When it's "your car" it's not so much of an issue if someone nudges it in a carpark.
 
You must log in or register to reply here.
Back
Top Bottom