carwow lease deals?

kaktus

kaktus

kaktus

Associate
Joined
28 Jul 2003
Posts
1,219
Hey guys

I got a quote today from Mini Chiswick for a Cooper S Countryman 2018 Chilli which came out at an astonishing 890 per month on a PCP for a 30 month term after part exchanging my current vehicle for a value 8,500. This "allows" me to hand the car back at month 15 if i wish (as I may want to by then for personal reasons) but I still would've incurred approx 15500 in monthly installments by then.

So I went onto carwow to price up what a Cooper S Countryman would cost outright and saw it now has Lease Deals. Long story short, the lease deals through carwow look really good. For example, same spec Countryman Cooper S 2.0 Comfort Plus Pack is just 227 per month inc VAT. 6.5k total for 2 year lease which equates to about 22% of the car's value.

They also have what appears to be cracking deals on the E-pace, T-roc, Tiguan, GLA etc. But I wanted to double check here and see if these are indeed decent deals as I'm well out of touch with car buying / leasing now.
 
The problem with your quote is the fact you want to be able to hand back at 15 months. You can only VT at 50% of the total amount, so with this requirement I'd expect you'd need a hefty deposit and high payments to reach that point so early. Most PCPs will only hit this point near the end.
 
ahenners said:
The problem with your quote is the fact you want to be able to hand back at 15 months. You can only VT at 50% of the total amount, so with this requirement I'd expect you'd need a hefty deposit and high payments to reach that point so early. Most PCPs will only hit this point near the end.
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Yep I get that, I just don't think it makes sense if you can lease at 250 a month or less OR you just buy it/finance it outright and sell it 15 months later. You surely will not incur anywhere near the depreciation curve the PCP suggests 15 months into ownership. Maybe I'm missing something here.

Are there any better lease deals to be had than going through carwow?
 
I wouldn't consider 4k miles a year enough to justify a lease tbh. I'd be purchasing as your depreciation will be considerably less than the average lease cars that do moon mileage.
 
Diddums said:
I wouldn't consider 4k miles a year enough to justify a lease tbh. I'd be purchasing as your depreciation will be considerably less than the average lease cars that do moon mileage.
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The average lease seems to be 8,000 to 10,000 miles, not moon mileage. If anything high mileage is where leases collapse as you get stung with either high monthlies or mileage charges.
 
Kenai said:
The average lease seems to be 8,000 to 10,000 miles, not moon mileage. If anything high mileage is where leases collapse as you get stung with either high monthlies or mileage charges.
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Really? :confused:

I always thought that lease cars were bought primarily to offset the depreciation of high mileage. Come to think of it I don't know where that idea came from, weird.

Still, if I'm spending a few hundred or more a month on a car I'd be owning it. Never understood this latest trend of leasing cars.
 
Diddums said:
Still, if I'm spending a few hundred or more a month on a car I'd be owning it. Never understood this latest trend of leasing cars.
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Allows people to drive cars that they wouldnt normally be able to afford. Other people see it as a way if having a car they don't have to give a crap about as they just hand it back at the end after they've knackered it.
 
If you buy a car outright you are still losing per month in depreciation. It’s just moving the cost and provides easy motoring.

Plus you get a nice new plate to show to the neighbours.
 
I personally wouldn't be spending £7k on a lease deal over two years for 4K/annum in mileage. That's nearly £1 / mile driven and you don't own the vehicle at the end.

Take your existing car value, add on a bank loan with low APR and buy something nearly-new / second hand.

I can understand wanting something newer if you're in the car for high miles / long commutes every day. But an average of 10 miles per day is just not worth it IMO.

To answer your question in the OP, those Carwow prices are very typical for leasing deals. You'll find a number of places that will offer something similar.
 
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