Car leasing...A good thing?

[Kappa]

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.

I'd rather get an £8k loan, buy a car for £8k, and 2 years later have that car which is worth £5k to sell.

 

[jamief]

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.

My experience is quite different - just had my car (Civic Type-R) collected this morning.

The only thing picked up on was 5 large stone chips on the bonnet, simply because they have gone through the base layer of the paint. I'm arguing the case though, because in no way could I prevent this, and there are known issues with paint chips on all Hondas since about 2006.

 

[iaind]

I'd rather get an £8k loan, buy a car for £8k, and 2 years later have that car which is worth £5k to sell.

Those values are pretty accurate too - even on boring stuff. My car cost me 7k 2 years ago and is worth about 4k now

 

[wassap]

I must admit my company does get hit with mega costs when our lease cars go back, they are very very picky, so much so that many of our cars pretty much have to be resprayed before they go back to stop Lex whining about stone chips and minor dings.

 

[Adz]

I must admit my company does get hit with mega costs when our lease cars go back, they are very very picky, so much so that many of our cars pretty much have to be resprayed before they go back to stop Lex whining about stone chips and minor dings.

On the flip side, that's why my ex-Lex car has no dings, stone chips, scratches, or anything .

 

[IAmATeaf]

Those values are pretty accurate too - even on boring stuff. My car cost me 7k 2 years ago and is worth about 4k now

Where do you think is the sweet spot in terms of budget? I know it depends on the car and residuals to a large extent. I purchased my Accord in 2004 for 16k and today I'd be lucky to get 5k for it, when you sit down with those figures it sort of makes you realise how much you've lost in real terms.

I think car leasing somewhat masks that from the leaser to some extent as they tend to think of the cost purely on the basis of the monthly outgoing and nothing else.

 

[wassap]

On the flip side, that's why my ex-Lex car has no dings, stone chips, scratches, or anything .

Its not a blue Focus ST is it

Its a stupid agreement we have with Lex, no more than 10 stonechips per forward facing panel, hell I had 10 stone chips on the boot, ffs the cars are on a 75k/3 year lease, our fleet manager wants shooting