Lease Advice

spoffle · 14 Dec 2016 at 14:20

I'm looking for some lease advice if anyone would be as so kind to help me. I'm looking to lease a car soon, I'm getting a feel for larger cars so I've been looking at Touaregs, the R line plus to be specific. I'm wondering if anyone has recommendations for something that might be better? I'm looking to spend about 400 a month with a 3-6 month down payment.

Thanks

[TW]Fox · 14 Dec 2016 at 14:58

If you have a specific car in mind it's unlikely a lease will be cheapest. Probably better looking at a PCP through one of the new car discount brokers.

spoffle · 14 Dec 2016 at 15:04

I've wondered about that, the main thing is that I'd like the idea of handing a car back and being able to change every few years without a big payment at the end of the agreed term.

Scottland · 14 Dec 2016 at 15:09

spoffle said:
I've wondered about that, the main thing is that I'd like the idea of handing a car back and being able to change every few years without a big payment at the end of the agreed term.

That's exactly how a PCP (can) work. You don't have to make the balloon payment at the end.

spoffle · 14 Dec 2016 at 15:11

Ah right okay, that makes sense then

Scottland · 14 Dec 2016 at 15:25

You're also "stuck" with a lease for the term, with a PCP you can either pay it off, or sell the car and settle the outstanding finance. On the flip side however, the car can be worth less than the amount of outstanding finance.

As I understand it, with a lease it's a bit like a mobile phone contract. You have agreed to rent the car for xx monthly payments. If you decide you don't want the car any longer - you're liable for the remainder of the monthly payments.

spoffle · 14 Dec 2016 at 17:54

Right okay, in that case I'm gonna look good both.

Since I'm looking at a Touareg r line plus, does anyone have any recommendations for similar types of car in around the same price bracket?

[TW]Fox · 14 Dec 2016 at 18:05

Scottland said:
As I understand it, with a lease it's a bit like a mobile phone contract. You have agreed to rent the car for xx monthly payments. If you decide you don't want the car any longer - you're liable for the remainder of the monthly payments.

It's absolutely nothing like a mobile phone contract - with a phone contract you keep the device, you never keep a lease car.

Scottland · 14 Dec 2016 at 19:29

[TW]Fox;30310816 said:
It's absolutely nothing like a mobile phone contract - with a phone contract you keep the device, you never keep a lease car.

Point taken, I wasn't actually referring to the device just the service contract.

D3K · 14 Dec 2016 at 20:13

The market is garbage right now. Keep an eye on piston heads.

http://www.pistonheads.com/gassing/topic.asp?h=0&f=255&t=1607379&i=5800

Joe T · 14 Dec 2016 at 20:15

The market will probably only get worse I'm afraid. Blame FX for that.

Diagro · 15 Dec 2016 at 09:35

spoffle said:
I've wondered about that, the main thing is that I'd like the idea of handing a car back and being able to change every few years without a big payment at the end of the agreed term.

Leasing is cheaper than PCP in that regards

monkey_boy · 15 Dec 2016 at 09:40

Diagro said:
Leasing is cheaper than PCP in that regards

Sometimes. I'm looking at swapping my Zoe for a Leaf/B250e/Ioniq and PCP seems to work out cheaper for all of these than PCH/Lease based on handing it back after the term.

inflames · 15 Dec 2016 at 09:55

Leasing or PCP is the most expensive way to own a car, well you don't own the car do you. But there some good deals out there for those who want a go this way, one of the lads i work with has a Golf R on PCP, it was cheaper then a GTI on PCP. One of the others has a Leaf and want to give it back, but the car has is now worth less than the finally agreement and he is now forced to keep it till the end of the term as he will lose out if he was to change now.

[TW]Fox · 15 Dec 2016 at 12:24

Diagro said:
Leasing is cheaper than PCP in that regards

No, it's usually not.

It's generally only cheaper if you are lucky enough to score one of the occasional bargain deals but if you are set on a certain car this is unlikely.

spoffle · 15 Dec 2016 at 22:35

Thanks everyone. I've been looking at prices between PCP and PCH on Touareg R Line Pluses and a lease *seems* to be the cheapest option.

That aside, what are people's thoughts on a Touareg R Line Plus, and is there anything similar that you think I should be considering?

By similar I mean a similarly sized and specced car. I don't know much if anything meaningful about cars.

[TW]Fox · 15 Dec 2016 at 22:55

spoffle said:
Thanks everyone. I've been looking at prices between PCP and PCH on Touareg R Line Pluses and a lease *seems* to be the cheapest option.

Leases are non-negotiable generally, so the advertised prices online will be the best price.

By contrast a quoted price for a PCP is usually based on list price of the car. Significant discounts are available and the best price is often achieved after negotiation, or by going through a broker.

D3K · 15 Dec 2016 at 23:05

The only thing that can be negotiated on a lease are the fees. Unless you go direct to a reseller in which case there aren't any.

spoffle · 15 Dec 2016 at 23:21

Right okay, that makes more sense then.

Scottland · 16 Dec 2016 at 10:10

If you're looking at PCP prices, go to some of the websites below to see the amount of discount potentially available off list price. You can then look at pcpcal.co.uk to give you an idea on payments etc.

Orangewheels
Drivethedeal
Coast2CoastCars
Broadspeed
Carwow