0 deposit car leasing / pcp

JustBen

JustBen

JustBen

Soldato
Joined
14 May 2007
Posts
2,815
Location
Cumbria
Hello
I've currently got an old Nissan xtrail and it keeps bring up bills which is getting irritating. Pretty much everything for it seems expensive.
I don't have the money to get a new car at the moment and choices would be limited due to it needing to be big enough for 3 kids.
Is it possible to get a lease or pcp deal that don't require a big deposit (ideally none) if so where best? I can afford 300ish a month, it would need to be something big enough for 1 child in isofix, 1 in a child seat and one in a booster with a decent size boot. Performance isn't important and I'm not fussed about an older model.

It's either do something like the above or keep repairing the xtrail
 
How much is the X trail worth? Can’t you use that as a deposit? You can get the latest Ford Kuga for about 2.5k down and 175p/m something like that should be big enough. If you go into most dealers and opt to get on there 3-4yr merry go round that allows you to change it every few years most of them don’t require much of a deposit.
 
You can get plenty of 1+xx leases, but lease prices do seem to be quite high at the moment, and these are not the best deals compared to an initial payment of 3/6/9 months.

It sounds more like you want a new car rather than you can't afford to keep the nissan running.

here one example that has 2 isofix on rear outers and one on front seat:
https://specials.21stcenturymotors.co.uk/Peugeot3008
for 299 +24 x 291.58, you can have this for 2 years and 5k miles p.a.
more miles goes over your budget

however you will have spend £7297 in total
will your xtrail cost you 3.6k a year in repairs?

It also appears that leases are not great value at the moment, that one is 23,500 on broadspeed so is 31% of purchase price
I would look to be at 20% of purchase or lower for a really good deal.

It also not the 2019 model however is in stock so would be a 4 week lead time or so.

You need to ask yourself if you want a brand new car and if so then what is the best way to do that, if you don't then look at other options.
I'm not against leasing, my current and last 3 cars have all been leased but only because I've grabbed a deal and I've not really got any restrictions.
However I am fully aware that I am basically renting a car for 2 years each time and accepting the cost that goes with that.
 
Dav4 said:
How much is the X trail worth? Can’t you use that as a deposit? You can get the latest Ford Kuga for about 2.5k down and 175p/m something like that should be big enough. If you go into most dealers and opt to get on there 3-4yr merry go round that allows you to change it every few years most of them don’t require much of a deposit.
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I'd have a guess at around 1k.nissan offered to swap it in as a deposit a wile back actually but as nice as it is to drive I don't fancy another.

g60dubster - good point no it won't cost that much to repair. I can so far afford the repairs for it, it just seems to spent a lot of its time In the garage. If the mileage massively effects the lease cost I'll keep an eye out for a cheap deal then as I at a push do 6k a year, this year I'm on. About 4k from last August. Living and working local have there benefits.
Maybe I'd be better of keeping an eye out for a slightly older car and get it on monthly payments. Some of them have 0 deposit, granted I'd be getting an older car with less warranty than a new new one so could well see. Myself in the same place as I am now.
 
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If you are in the financial position that you can't find £1-2k as a deposit then I'd recommend against committing to a 2 or 3 year contract that will cost £7k+.

Why not look at a bank loan of £10k over 5 years which will cost you £179 a month, get you a nice car with a warranty and allow you to put away £120 per month for maintenance / a rainy day. You'll also be building up some equity in the car.
 
@always4lora

I always put minimal (£500) or no deposit down on my cars and use the per monthly to cover it. I get a fairly sizable car allowance or can pick the E/5/A6/S90 level of cars for a company car although benefit in kind is all around the £300pm+ now.

Picking wisely if buying (PCP) and not leasing is key to minimise cars financial disbenefit with a heavy depreciation impact on monthly payments over shorter terms when there is no deposit. Pre reg cars can be good for this providing you get competitive APRs (3-5%) and a genuine pre reg discount well over and above carwow/broker savings.

Don't forget you always lose the VAT (20%) as an initial day 1 depreciation hit when you drive it off the forecourt.

Putting no deposit in is only an issue if you look to return or sell the car mid depreciation curve where often at points it's worth considerably less than the settlement.

Exceeding stated milage is only an issue at hand back on pcp or lease but you can accrue for this.

APR is critical. When BMW ran the 1.9% Apr on the 3 series end of last year I could get a new 335d X drive for £399 per month no deposit. Pre reg through the dealer network at c6% Apr were £500+pm just on the APRs with discounted new list/forecourt pre-reg prices being equal.

It's often cheaper to lease or pcp a Merc E or BMW 5 than non premium brand due to much stronger residuals.

In your circumstances, bank loan for a £10k sensible car or stick with your current car is your best option.
 
Scrutinize said:
It's often cheaper to lease or pcp a Merc E or BMW 5 than non premium brand due to much stronger residuals.
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Not really, they might have stronger residuals in percentage terms but the much higher prices means that they still lose more in cash terms and thus cost more to lease. I looked and never found a decent deal on a 5 series.
 
[TW]Fox said:
Not really, they might have stronger residuals in percentage terms but the much higher prices means that they still lose more in cash terms and thus cost more to lease. I looked and never found a decent deal on a 5 series.
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Both 20d variants come in around the £400pm on lease Inc vat, unless you are looking at the 3.0l engines. Deal on the E recently saw this down to £350pm 220d amg line. The 5 does always come in more than the E though.

This is direct with the business managers at the main dealers who do the fleet sales but still as a private PCP.

Mazda 6 comes in £100+ more pm as an example.
 
Scrutinize said:
Both 20d variants come in around the £400pm on lease Inc vat, unless you are looking at the 3.0l engines. Deal on the E recently saw this down to £350pm 220d amg line. The 5 does always come in more than the E though.

This is direct with the business managers at the main dealers who do the fleet sales but still as a private PCP.

Mazda 6 comes in £100+ more pm as an example.
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Pcp relies heavily on what the manufacture wants to shift at the time. We went to look at the skoda karoq and could get a kodiaq cheaper as there were more incentives. Weirdly the Land Rover Discovery Sport was not far off the Kodiaq due to discounts.
 
[TW]Fox said:
No non premium brand does really, your initial point was that they are no more expensive than a non premium brand car...
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Which I am correct on when you are looking at the alternate brand large saloons.

I'm not saying compare a focus with a 5 series but when looking at a 1 series against a focus a 1 series comes out better ime.

0% on 5 at mo so £399pm on 520d msport plus £399 deposit.
 
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[TW]Fox said:
No non premium brand does really, your initial point was that they are no more expensive than a non premium brand car...
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Assuming you look at car purchasing in terms of deposit and monthly repayments, with a view to handing back the car at the end, or swapping it out, and not keeping it long term, then it is often cheaper / similarly priced to get the "premium German" rather than the cheaper Ford or whatever.

When I bought my 5 series, I wasn't overly concerned about the badge. I needed the space first really. But I did do my research, and get quotes on most things similar. So Mazda 6, Mondeo, Passat, as well as the A6, E Class and 5 series. The 530d M-Sport cost about the same in deposit and monthly payments terms as the Mondeo / Passat / Mazda, and these were 4 pot diesels. Granted, they were all specced with at least leather and xenons. Something which the 5 series had as standard, but I did put a bit of spec on the 5 series too.

So his point is valid, in as far as I could see anyway. I got my 530d M-Sport for the same term cost as a 2.0d Mondeo Titanium X would have cost me. Not sure how many people out there would have picked the Mondeo over the 530d for the same money. Or a Passat or whatever either. As he also said, going down to the 2.0d in the premium Germans worked out cheaper than the 2.0d in the "lesser" brands.
 
Good discussion being had. E class.mercedes are really nice, damn kids though eh!
I'll keep an eye out for deals and if the car continues to cost me I'll look into a loan. Least this upcoming year will be cheaper than last with no big house renovations or new children planned.
 
Vauxhall have 0% on Insignia and Astra Sports tourers at the moment over 5 years. Noticed a big sign when I was sorting mine. No idea how it all works with deposits etc...

Not everyone’s cup of tea but plenty of room for kids etc...
 
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