So cars are expensive now, huh? (Leasing)
- Thread starter VincentHanna
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Deleted User 298457
Deleted User 298457
In my youth I'd say not bad --- now I am older I would say that is only worth it if you can offset £10k of fuel at least.
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If you want something with lots of space and decent range to get you from A to B, they are fine I guess.
I never liked the deletion of a cockpit display (Funny the Model S still have them) and I just couldn't entertain the thought of paying money to drive a tesla now I know Elon is a ****.
Shame, I loved the Model S when it first came out.
I never liked the deletion of a cockpit display (Funny the Model S still have them) and I just couldn't entertain the thought of paying money to drive a tesla now I know Elon is a ****.
Shame, I loved the Model S when it first came out.
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Soldato
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Is that a normal personal lease or one of those salary sacrifices where your company has order it?
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The i4 M50 was the best selling 'M' car of 2022 so I don't think they are struggling to shift them.
Soldato
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Supply and demands doesnt work like that.
I've never had a lease car. Can never handle mentally the monthly outlay just to have a car. Even now that I earn more the cost of even a modest car per month is huge.
I always wonder how many cars I see day to day are on lease? Because I live in a less well Off area but the overall quality of the cars seems higher than I would expect given the area.
Its why I can't see me getting an electric for years. Probably 5 years+. The outright cost is still just too high.
I guess be leases are going to hit people overstretching hard since the rates spiked.
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In 2015 I bought a used BMW 530D touring for £23,000 and sold it for £16,750 in 2018
Not including servicing and maintenance that means it cost me over £6000 in 3 years.
Now I get to drive a car that was brand new, has almost twice the power, has almost every gadget you could need and that's costs my business £4800 a year (after you take in to account 100% rate relief on the monthly cost) and I don't have to worry about maintenance.
Small price to pay really.
Not including servicing and maintenance that means it cost me over £6000 in 3 years.
Now I get to drive a car that was brand new, has almost twice the power, has almost every gadget you could need and that's costs my business £4800 a year (after you take in to account 100% rate relief on the monthly cost) and I don't have to worry about maintenance.
Small price to pay really.
Leasing used to be good. Persuaded my boss years ago to get over the "ownership" mentality as i always pointed out he had finance on his cars so he never owned them anyway. What made his mind up was that he had just part exchanged an SQ7 for a new one and had lost £31k in depreciation and I got him a lease price on a new one which meant he was paying only £28k over the three years and had no risk at the end and didnt need to put a big deposit down either (he was putting £20-30k down as a deposit every three years).
I always thought, that unless it was one of those rare appreciating cars, that people buying a car were the ones kidding themselves over how much they really paid for their car each month and at least with "rental" (lease) you knew exactly how much it was costing you per month. My boss jus used to ignore the depreciation and it was all about the month payment amount.
But looking at lease prices today, the maths just doesnt work on most cars.
Deleted User 298457
Deleted User 298457
A lot of folk do salary sacrifice leases so the actual outlay is like 380/mo, no deposit, no maintenance, no tax and no insurance. You'd be mad not to (subject to your personal maths). My Pug e2008 is as above.
Only exception being if you are getting a mega discount upfront e.g. Ford privilege was outrageous discounts and got me several Fiestas and 2 Jags for an upside on hand in. Given how many people JLR and Ford et al employ in the UK I'd wager that's a good chunk of other brand new motors on the road.
I guess it makes less sense when (like me) you are a bit marmite.
If can't have a car I love. I'll make do with a banger.
But for expensive cars, yeah without a lease the money you lock away in a depreciating asset seems less clear cut
Soldato
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I still think a large chunk are pcp/leased.
There is a huge disparity these days between the car someone can afford vs the house they can afford commensurate, at least by traditional standards, with their income. (At least around where I live anyhow).
The funny one I find is all the terrace houses in town with BMWs, higher end Audis, etc. parked out front, while the big edge of town properties have like basic model Toyotas, etc. on the drive though I don't know what they have in the garage. When I was a kid would be stuff like Ford Escorts parked outside the terraces and flash BMWs, Ferraris, etc. parked on the drive of the big houses.
EDIT: Though that said I'm increasingly seeing both replaced by the likes of Kia SUVs, etc.
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Same with Qashqai round this neck of the woods. I think every employee (20,000) gets 2 codes per year for friends and family which gives you 20% off list price. Hence why 1 in every 2 cars round sunderland is a Qashqai
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Deleted User 298457
Deleted User 298457
Yeah I really put my foot in it with the neighbors as I was ranting and raving at how every builder was arriving in a 60 grand Ford Ranger with lift kit and LED lights.
No1 - turned out he worked for Ford, I hadn't clocked the entirely Ford fleet him and his extended family had
No2 - turned out he was the bloody brand manager for Ranger XLT or whatever the outrageous modding department is called
No3 - he had a Ford Ranger on order.
Somehow I continued on form and then somehow recalled when I was 9 some lad failed cycling proficiency and what an idiot he was. Turns out his wife was that only kid that failed in her cohort.
Still, always good to make a good first impression!
No1 - turned out he worked for Ford, I hadn't clocked the entirely Ford fleet him and his extended family had
No2 - turned out he was the bloody brand manager for Ranger XLT or whatever the outrageous modding department is called
No3 - he had a Ford Ranger on order.
Somehow I continued on form and then somehow recalled when I was 9 some lad failed cycling proficiency and what an idiot he was. Turns out his wife was that only kid that failed in her cohort.
Still, always good to make a good first impression!
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In the past, if you worked for Ford you and your family were entitled to a 25% discount off new cars or something mad.
I'd say the majority of them up this way are on the nevos scheme rather than purchased with a discount.
Deleted User 298457
Deleted User 298457
Yeah my dad did 30 years at Jag so we had Fords all my childhood - when he died, the benefit went to my mum. Unfortunately they pulled the plug in 2019
Even without schemes/discounts the Nissan dealer I use quite a bit reckons they could sell every Qashqai they can get their hands on, quite annoyed with the supply shortages.