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First time leasing a car - dos / donts?

Discussion in 'Motors' started by Diddums, Apr 2, 2019.

  1. Diddums

    Capodecina

    Joined: Oct 24, 2012

    Posts: 17,851

    Location: London

    We've always owned our cars outright but I'm looking to lease a car and see what it's all about.

    It'll be a Mini 4 door if that makes any difference, are there any comparison sites? Options are a nono apparently, is this true?

    Don't even know where to begin tbh.
     
  2. [TW]Fox

    Man of Honour

    Joined: Oct 17, 2002

    Posts: 154,491

    I couldn't find any good deals for leasing a Mini - they are very option sensitive cars and options really make leasing very expensive.

    Just bought one in the end.

    Leasing is best if you don't care what you have, if you've something specific in mind it's probably going to work out expensive.
     
  3. nam

    Wise Guy

    Joined: Oct 18, 2002

    Posts: 1,747

    Location: London

    have a look on here https://www.pistonheads.com/gassing/topic.asp?h=0&f=255&t=1801047&i=360

     
  4. booyaka

    Capodecina

    Joined: Jan 19, 2006

    Posts: 12,415

    Leasing is hard to do well unless you take a deal that is going. If you want a certain car/model - it's harder to find a good deal.

    Leasing is generally about what stock a dealer/supplier has to punt on and you get a reasonable deal - very rarely will you find the car you "dream" of on a good price lease.

    Pistonheads above is a good place
     
  5. pc-guy

    Hitman

    Joined: May 29, 2005

    Posts: 942

    I just finished my lease on a focus. I find there are lots of deals around dec/jan/Feb time. So if you are looking for a leasing deal now you probably won’t find anything decent.

    Also the trick to get decent leasing deal is to find the car that can hold decent amount of residual value and low in initial price that suits your needs obviously.

    So I would recommend you to google some leasing websites and go through the kind of cars you want and see what’s available. Don’t go for options as they are expensive and not worth it. Basically select trim levels to get the kit you need.

    It took me a good part of 12 weeks to find a decent deal and it is purely based on what’s available at the time. Also in most cases, the dealer will have a car but it’s colour is not the basic one so they will charge you extra for metallic paint or the car has some options like LeD lights that you don’t care but you have to pay for. You can always ring around a few dealers to see what they got.

    The best way to start a lease is to understand what range of cars you accept and what your monthly budget is and how much you want to put down for the initial rental. With those in mind you can narrow down suitable cars very quickly on the lease sites and then it is just a process of working out if any one of them are decent by working out if the lease is more than depreciation or less than and factor in discount from dealers for buying out right.

    Lastly, the end of lease you will need to remedy any damages you incurred during the lease such as body work, alloy wheels - kerb damages. Don’t get alloys that are laser cut if you are thinking about leasing as refurb is expensive. I didn’t take out a maintenance option. But some make will give very competitive maintenance regime such as VW group brands.
     
  6. Housey

    Man of Honour

    Joined: Feb 21, 2006

    Posts: 26,555

    There are some simple rules for leasing a car that usually if not always apply.

    1: If you want a big additional spec then don't lease. Adding spec will kill the value of the deal.
    2: If you want to do over 10K miles per year, it is likely going to be inefficient cost wise unless it's a really cheap car.
    3: Be willing to accept the best deal over the perfect car and watch the end of quarter special offers for the best ones.
    4: Be ready to move quick as the very best deals are usually 24 hour deals, the second best within a week of first advert.
    5: If you want to buy the car at the end of the period (seems odd to do that) then lease will hardly ever offer that option.

    It is not an alternative to buying if you want to build a car to your spec, do high miles or need to find the perfect model, colour and spec. If you want to build your dream car, buy it don't rent it.
     
  7. MissChief

    Capodecina

    Joined: Jul 17, 2010

    Posts: 15,680

    Add all the figures together to get your total deal and work this against buying the car on finance. Remember you're borrowing the car and will have nothing to show for it at the end.
     
  8. adwol48

    Hitman

    Joined: Dec 25, 2008

    Posts: 726

    Location: Norwich

    dont know how good they actually are but there is a site called carwow.co.uk that will get you deals from multiple dealers across the country they advertise multi thousand pound savings but i'm a bit dubious about leasing in general last time i had any experience of it was when my parents use to use ford options.

    as an example i entered this car
    Ford Kuga
    1.5 EcoBoost 2WD Zetec, Manual, Petrol
    Total RRP £24,175

    my first offer for pcp came back at

    PCP Finance
    carwow offer
    £18,978
    You save
    £5,197 (21.5%)
     
    Last edited: Apr 18, 2019
  9. Housey

    Man of Honour

    Joined: Feb 21, 2006

    Posts: 26,555

    The best lease deals will work out cheaper than you can buy an equivalent. They are structured as lease only deals to ensure used car stock in 1-2 years etc. My Polo was 33% off list price. You could not at that time walk in and buy the car for 33% off list, not even close. The dealer I believe bought 200 at that rate and all had to be put into a lease term of 12-24 months. Limited colours, limited spec, you want one or not. Those deals are worth doing, most will work out more or close to the same. It is all about up front cost, x lease cost for period x mileage over spends and can be very dealer group dependent.

    Most see £250 a month and forget the 2K up front. It's cheap at 250 quid, less so at 350 quid.
     
  10. Diddums

    Capodecina

    Joined: Oct 24, 2012

    Posts: 17,851

    Location: London

    Cheers all!

    I've since decided against leasing, it just seems like a waste of money when I can get an ex-demo for considerably less and let someone else take the initial hit.
     
  11. ivrytwr3

    Mobster

    Joined: Aug 25, 2006

    Posts: 3,401

    Just took delivery of a Seat Tarraco Xcellence 2L:
    • £500 deposit
    • £260 monthly
    • £19 maintenance pack
    • 8k miles per year
    • 24 months lease with road fund and breakdown included.
    Went with Zenauto and the whole experience was 10/10.
     
    Last edited: Apr 18, 2019
  12. NoobCannon

    Mobster

    Joined: Jun 13, 2011

    Posts: 4,418

    4k miles a year limit sounds pretty damn restrictive
     
  13. MissChief

    Capodecina

    Joined: Jul 17, 2010

    Posts: 15,680

    Absolutely. 76 miles per week max? I hope the excess mileage charges aren't too high! My work is 3 miles away and I do a 45 mile trip twice a week and I only do 10-11k a year. 4k is very restrictive.
     
  14. Webzta

    Wise Guy

    Joined: Dec 19, 2005

    Posts: 1,001

    Got offered my Audi A4 2.0 190 S Line with B&O for 19k end of lease, so can be some bargains to be had. If I liked the car more would have been a great deal.
     
  15. ivrytwr3

    Mobster

    Joined: Aug 25, 2006

    Posts: 3,401

    lol - 8k per year, my bad.
     
  16. [TW]Fox

    Man of Honour

    Joined: Oct 17, 2002

    Posts: 154,491

    Surely over 2 years and 16k miles a brand new car is going to require zero maintenance?
     
  17. MissChief

    Capodecina

    Joined: Jul 17, 2010

    Posts: 15,680

    Two potential services and some plans even include tyres etc.
     
  18. Kenai

    Capodecina

    Joined: Apr 5, 2009

    Posts: 17,660

    A Seat on lease will likely be on variable servicing that won't need doing until 18,500 miles, unless absolutely abused. I'd be amazed if it even needed tyres by 16,000 miles.
     
  19. ivrytwr3

    Mobster

    Joined: Aug 25, 2006

    Posts: 3,401

    Still waiting for word back on servicing schedule, whether 12 monthly or variable. WRT tyres - i am in Lincs and in 18 months alone my previous motor went through 3 blowouts on the Lincolnshire pot hole roads which the council have not accepted responsibility for - grrrrr!!

    I think maybe i could have done without the pack, but even one service and one tyre and i have recouped my spend - and come hand back time if it needs 4 new tyres, it won't cost me.
     
  20. [TW]Fox

    Man of Honour

    Joined: Oct 17, 2002

    Posts: 154,491

    Two services? Err no.