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Good lease deals on less than great cars

Discussion in 'Motors' started by kaptainmarc, Feb 23, 2016.

  1. Abyss

    Mobster

    Joined: Oct 18, 2002

    Posts: 4,259

    Location: Nottingham

  2. Dav4

    Mobster

    Joined: Apr 20, 2014

    Posts: 2,533

    Location: Home

    It’s a stunning looking motor the Arteon especially in R trim. Can’t believe I’ve only seen 1 on the road since they were launched :eek:. When they first came out they Could be had stupidly cheap on lease deals when comparing to the list price.
    Just don’t get why people would rather buy all these nasty crossovers like the T roc or Tiguan etc over a nice saloon :(
     
  3. skaif

    Mobster

    Joined: Oct 25, 2014

    Posts: 2,682

    Location: Middle of the east

    Horses n courses and all that. I went for the Karoq as its easier to get baby in and out of, higher seating position and shape of boot allows for taller items like the stupid pram we have....
     
  4. Jony27

    Sgarrista

    Joined: Aug 15, 2010

    Posts: 8,097

    Location: N. Ireland

    Can someone explain to me who would benefit on a lease deal and how to spot a good deal?
     
  5. squerble

    Mobster

    Joined: Apr 13, 2009

    Posts: 4,000

    Location: UK

    Generally you benefit only on the convenience of having a set price which often includes a servicing plan etc, so 2 or 3 years of "hassle free" motoring at a set price. However, the leaser gets the biggest benefit as you pay the depreciation on the car for them, and then they sell on to Motorpoint etc.
     
  6. skaif

    Mobster

    Joined: Oct 25, 2014

    Posts: 2,682

    Location: Middle of the east

    Who would benefit?

    People who just want to insure and drive. You can get maintained packages but these can be expensive.
    There are different reasons for getting into it
    • Usually lower initial payment compared with PCP finance
    • Tax often included
    • Can often beat depreciation dependent on deal
    • "Hassle free" motoring - you can still have issues with new cars though
    Good deals are usually spotted based on their total value across the term (initial + monthlies = total. total / term = amortised monthly.)
    The total figure is often compared to the RRP with anything below 25% considered a good deal as this often beats out the depreciation and costs when buying PCP.
    Anything below 20% is getting into bargain territory.

    This is obviously dependent on the car/trim/options as standard. If you know what you are doing, it can be a very cheap way to run a new car for a few years.
     
  7. RockLobster

    Wise Guy

    Joined: Sep 2, 2007

    Posts: 1,692

    Hi Guys

    My wife is looking at a 2 year lease deal does she need to get gap insurance?
     
    Last edited: Jul 6, 2018
  8. chanjy

    Mobster

    Joined: Dec 14, 2003

    Posts: 4,257

    It depends on your attitude to risk. But if the car gets written on you are technically still on the hook for the remaining payments. Whether it's worth is depends on how unlucky you think you'll be!
     
  9. Spunkey

    Capodecina

    Joined: Oct 18, 2002

    Posts: 13,807

    Location: The land of milk & beans

    The length of the lease isn't really relevant to your propensity for taking the risk on not having GAP. Could you afford to pay your excess plus the difference between the depreciated car value and the total remaining value of the lease (should the worst happen) or would you rather spend £200 and not have to worry about it? That's your answer.
     
    Last edited: Jul 6, 2018
  10. RockLobster

    Wise Guy

    Joined: Sep 2, 2007

    Posts: 1,692

    Okay thanks for your replies I’ll have a chat with her.
     
  11. Journey

    Soldato

    Joined: Oct 18, 2002

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    Location: West Midlands

    I think we paid £60 for 3 years Gap insurance, hardly expensive.
     
  12. fullspizz

    Wise Guy

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    Location: Niptons Ridge

  13. Fusion

    Sgarrista

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    Location: Notts

  14. skaif

    Mobster

    Joined: Oct 25, 2014

    Posts: 2,682

    Location: Middle of the east

    Not bad but not amazing, the Golf I had was £8 cheaper all in (£185) for a Diesel DSG.
     
  15. Jony27

    Sgarrista

    Joined: Aug 15, 2010

    Posts: 8,097

    Location: N. Ireland

    Thank you for all the information. According to the above, this deal would be considered a good deal?
    https://leasing.com/independent-brokers/carsave-uk-limited/ford/focus/314860167/

    £151.99 Per Month, INC VAT
    Rental Profile 9+23
    Annual Mileage 10k Miles p/a
    Initial Rental £1,367.91
    Additional Fees £234.00

    If my maths is correct, the above works out at £5097.68 over the 2 years which works out at 23.6% of RRP(£21590 according to TopGear).
     
  16. Spunkey

    Capodecina

    Joined: Oct 18, 2002

    Posts: 13,807

    Location: The land of milk & beans

    For a no-option Focus I wouldn't call it a great deal. For what it's worth DTD have the same car available for £18,500, but obviously that's PCP/HP only.
     
  17. Jony27

    Sgarrista

    Joined: Aug 15, 2010

    Posts: 8,097

    Location: N. Ireland

    You think so? I wouldn't buy a brand new car and just looking at my options;
    - can either lease a brand new one for ~£5k for the two years
    - buy an older car for ~£5k(currently something like a 2012 Fiesta or Ibiza with ~60k miles)
     
  18. chanjy

    Mobster

    Joined: Dec 14, 2003

    Posts: 4,257

    Why are these the only 2 options?

    Could you buy one that's 1-2 years old for £10k and sell it for £7k in 2 years' time?
     
  19. Dav4

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    Joined: Apr 20, 2014

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    Yes it’s quite a good deal that for the ST line. Smart lease have similar offer that works out 5k over 2 years. My local Ford dealer have a cracking deal on the Focus ST line at the minute £179 down payment and then £179 per month works out 4.5k over 2 years but the only downside is that you have to keep it 3-4 years instead of the 2 year leases offered by other companies. Still a good deal for a 20k car.
     
  20. Dav4

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    It’s not a no option Focus it’s the 140bhp ST line. The ST line and ST Line X are the second most expensive models behind the proper ST and have a list price of around 18.5-20k. It has touch screen sat nav, body kit with bigger alloys, keyless start, led headlights etc