Surely paying for a car that doesn't suit your needs isn't a good deal?
If you'd be perfectly happy in a Polo GTI then paying £100 extra a month for a Jaguar XE isn't a 'deal' even if leasing the Jaguar is relatively cheap compared to PCP'ing one.
Good lease deals on less than great cars
- Thread starter kaptainmarc
- Start date
If you'd be perfectly happy in a Polo GTI then paying £100 extra a month for a Jaguar XE isn't a 'deal' even if leasing the Jaguar is relatively cheap compared to PCP'ing one.
Sure. But some people are willing to pay for a bigger car, or a more prestige badge, or any other of the differences between these cars. They might be "happy" in a Polo GTI, but might be happier in an XE. But more than that, they might be even happier for getting an XE for only £100 more than the Polo.
My work offers lease deals, many based on a 6 month term (new car every 6 months), £0 deposit and 12,000 miles per annum, including car tax and recovery. Is car tax included in 'normal' lease deals? Also is there a disadvantage to changing ones car every 6 months, the only thing I can think of is that my insurance would likely charge an admin fee to change the car?
Soldato
I have usually found the best value ones are on a 2 year plan and makes the most sense vs PCP.
Soldato
It's all about bargain hunting for me so I have to agree @xs2man. If there is a car that is a relative steal I will go for it over other factors such as requirements - unless of course it fails to meet them at all! A polo would be too small for me for example, but a saloon vs suv wouldnt be too much of an issue.
I don't think I've ever found a 2 year lease to result in lower annual costs vs a 3 or 4 year one.
Caporegime
I've requested a quote for a VW Polo GTI+, oddly it was cheaper in black than the standard red, £138pm. 
Hopefully payroll get back to me pretty quickly with it, haven't been in the office for a few days so might pay them a visit tomorrow when I'm in to find out how long they take to sort it.
Hopefully payroll get back to me pretty quickly with it, haven't been in the office for a few days so might pay them a visit tomorrow when I'm in to find out how long they take to sort it.
I've requested a quote for a VW Polo GTI+, oddly it was cheaper in black than the standard red, £138pm.
Hopefully payroll get back to me pretty quickly with it, haven't been in the office for a few days so might pay them a visit tomorrow when I'm in to find out how long they take to sort it.
Bargain if available, but I think lead times are stupid, like 40 weeks is what they're quoting.
Caporegime
Soldato
if you do under 8k miles then those PCP? deals are good, but not so good if things suddenly change.
my pug 2008 is a 63 which had 42k miles on it(had it 7 weeks), cost £8400, this is from a pug dealers under 'Fish brothers' which of those that dont know have many sub manufactures under them, with £100 worth of deposit, plus extra £150 on top, my monthly payments are £205 for 4yrs at which point id own the car, for the age and spec of this car compared to others i found this pretty decent and im not fond of finance normally, however if i wanted less a month for less time i couldve opted for the pcp where i get to to swap cars near the end, but the mileage limit was 8k which is rubbish as i do more, so i guess those deals are fairly cheap for a reason, but doesnt make them the best.
Fish brothers seem good for finance and you can even get honda/mazda etc not just french.
my pug 2008 is a 63 which had 42k miles on it(had it 7 weeks), cost £8400, this is from a pug dealers under 'Fish brothers' which of those that dont know have many sub manufactures under them, with £100 worth of deposit, plus extra £150 on top, my monthly payments are £205 for 4yrs at which point id own the car, for the age and spec of this car compared to others i found this pretty decent and im not fond of finance normally, however if i wanted less a month for less time i couldve opted for the pcp where i get to to swap cars near the end, but the mileage limit was 8k which is rubbish as i do more, so i guess those deals are fairly cheap for a reason, but doesnt make them the best.
Fish brothers seem good for finance and you can even get honda/mazda etc not just french.
It didn't cost £8400, you just paid 10 grand for a 63 plate 2008
And this thread is about lease deals not PCP?
Soldato
Do you work for an OEM (or affiliate) by any chance?
Am I missing something here?
£205 * 48 months = £9840, then £9840 +£100 + £150 = £10090, not £8400?
Soldato
I read it as £8,400 advertised price. £10,090 inc 4 years interest plus fees.
Indeed I do. A 6 month vs a 18 month lease seems like a no brainier to me. Should hopefully mean I will be liable for no running costs (eg tyres) other than petrol and insurance?
Soldato
Note that what you are able to get is unlikely to be structured as a lease. It's likely to be an ECOS scheme (employee car ownership scheme), whereby you buy the car but it is financed by a loan from an in-house or affiliated finance company. These schemes tend to be fairly inclusive when it comes to things like insurance, tyres etc, but you'd need to check. Whether they are good value will depend on the monthly payments. A 6 month rotation is useful (usually unavailable to anyone out there in the market) as you get to try different cars and will always have the latest technology etc. If you stick with the same model then at least change the colour so the neighbours notice
.
Soldato
yeah and i mentioned finance, people have also mentioned PCP earlier on in this thread.
i was also sharing my recent finance experience, i dont care if you think my deal is good or not, its a top spec model with under 50k miles, i saw lesser spec models for same or more and of similar age.
Soldato
okay i mentioned the the price tag of the car sorry, i dont know what the final payment after interest without looking nor am i bothered, i couldnt afford anything outright, i was just stating how much my car cost and what i am having to pay for it, final price is irrelevant really as not everyone who would pay the same as me likely get the same figure, its dependant on who the financial company being used and what their interest rates are.
but trust me, the cars i was looking at had under 10k or 20k miles are were £10k plus, so the overall wouldve been much higher.
Soldato
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So you have a 5 year old car (9 years by the end) with 40k miles on PCP for £205pm which you don't own and have a final payment to make on vs a multitude of lease deals available for similar or often less money for a new car.
My sums make your APR 15.9% on PCP so £3.6k in interest.
A bank loan at current rates would be the same over 48months but you would own the car and pay 2-3k less interest depending on rate.
The whole owning an asset Vs leasing a liability debate falls down very quickly when you look at lifecycle running costs on older cars against new; and then consider if you change your car at any point you are likely to still pay finance payments extending the cycle.
Whilst ownership on PCP may be more flexible than lease and the opportunity to buy an older used car is a cheaper consideration £200pm as an ongoing cost is as likely to continue in line with market data indicating probability of and propensity to changing your car again for something newer.
Thus through leasing you are at the start of this process with full warranty and a number of inclusions.
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Soldato
Strange, the majority of the ones I have seen are cheaper on the 24 month profile than on 36/48?
Appreciate this is one example but I thought I would compare prices on the car I have just ordered...
24month
36month
48month
Maybe its just the type of car but I find it typically cheaper to get a 2 year one.