Car leasing

jam pie

jam pie

jam pie

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Joined
18 Dec 2007
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209
Two posts in one day, although this one is about me :o

I've been given a car allowance at work and need to sort a car one way or another. My current car is very high mileage and requires a bit of spend in the immediate future so I would be looking to replace in any case. There is no scheme at work, it will be something I need to sort personally.

I've been thinking car leasing is the way to go, however I will be doing high miles, approx 20-25k a year so not sure if this will be a deciding factor in whether leasing will be cost effective?

What companies should I be looking at? I've done the usual google and have come across what looks like the main ones, but was after advice on how to get the best deal! Are there any schemes where you can re-negotiate a different car if you start doing mega miles?

Ideally I would like a hatchback and a Diesel.

My allowance works out at about 280£ a month but I don't mind putting some to it really.

Any advice?
 
jam pie said:
Are you sure?

Look's like del boy set the website up!?

Some good prices on there however.
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Did a lot of business with them, never a problem.

Do you want a flash web site or a decent car lease ;)
 
£280 isn't going to get you far per month at 25k miles per year unless you also get a decent rate per mile

I was in a similar situation however higher mileage and had £510 a month to work with. I decided to buy a 54 plate Volvo S60 D5. I am better off each month and the car will have paid for itself in 2 years max. Alternatively there is some fantastic prices on the late mk3 Mondeos at the moment.
 
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Abyss said:
£280 isn't going to get you far per month at 25k miles per year unless you also get a decent rate per mile

I was in a similar situation however higher mileage and had £510 a month to work with. I decided to buy a 54 plate Volvo S60 D5. I am better off each month and the car will have paid for itself in 2 years max. Alternatively there is some fantastic prices on the late mk3 Mondeos at the moment.
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Yeah I get 40p mile for first 10k, and then 22p (I think?) for anything after.

Not sure whether to go down the loan route and buy a car outright.
 
Ling is a member of this forum, I haven't seen here on here for a while though.

I saw a repeat the other day of the episode of Dragons Den that she was on.
 
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I'd suggest looking at the manufacturers websites and asking at dealerships to find out what deals they are currently offering, I was able to pick up a Megane Diesel for significantly less than your budget (only 15000 miles a year though) last August as Renault wanted them gone before the new reg came out. Do the maths and it might work out, equally my previous car was a MKIII Mondeo which I owned and was paid for by my car allowance but loosing a fuel card when I changed jobs made a huge difference.
 
depends how mechanically handy you are, I get £400 a month car allowance and mileage, bought myself an X reg astra van cheap and spent a bit of money getting it all up to date on the servicing, will take two months to pay for itself and after then its profit :D
 
[TW]Fox;18243561 said:
Yea but now you have to drive around in a cheap old Astra van :confused:
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and? Im perfectly happy to do so they didnt change one bit up until 2006 besides the dials so it looks identical to a 2006 model and I have a second car as well.
 
Still unsure what to do really, - whether to go the loan route and buy a second hand car. Not really sure what to look at or for, except for it being a diesel!?

Going to take a drive around a couple of dealers next week I think.
 
I think the critical issue here is what you use the car for. If you're selling, you need a decent car. If you're in support services then it may not be quite so important but your employers will be looking for you to get something half-decent to support the image of your company I'm sure.

If you like your current car then keep it as long as you can.

£7750 in mileage charges will buy you £3750 worth of petrol, £750 worth of servicing, say £1000 in good insurance and £2250 in contingency/savings.

Add in £3360 in allowances and you have over £5000 in one year to put towards your next car in year 2 or £10,000 in year 3. If you can be disciplined enough at this point in your life, you could be driving a very nice car for the rest of your life.

Normally, I'd suggest a PCP but you have a huge problem - your allowance is way too low to get anything decent on that sort of mileage. If you were a business then a straight lease would be fine, but you're not so it basically has to be a loan or a PCP and neither makes sense in your situation.

Take out a loan for a nice car and if you change your role or your mileage drops significantly and you could be left paying for something you don't need and can't afford. At least with a PCP you can give it back inside the term with almost nothing extra to pay, but then you have no car. A PCP usually requires a decent deposit too - 10% minimum and 25% if you want a decently low monthly repayment.

Financially the only thing that makes sense is run your existing car into the ground (but with proper servicing) and save up for a new one.
 
DiamondMark said:
This lot we always found great, rubbish web site, good firm.

http://www.lingscars.com/
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I love the fact that that site has a huge banner on it ridiculing Cameron/Clegg/Osborne over the fuel tax rise, It must have taken a lot longer to make that than it would have to actually look into it and find out that the rise is a going away present from Gordon Browns administration ^^
 
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