Leasing - few questions

[jamief]

Am looking at leasing a new Golf GTI early next year, have a few questions (bear in mind I've never owned a new car before, so they may be a bit easy)

- A lot of the lease companies offer maintenance leases. However, I was under the impression that new cars often don't need serviced for the first 10-15k anyway, making the maintenance part somewhat redundant?

- Warranties - does this generally come as-standard with a new car, or is it different when you lease?

Cheers!

 

[jamief]

A warranty is standard with the car.

If you are a private customer, leasing rarely ever makes sense.

Why is that?

24 month lease @ £300 month = £7200.

£7200 = pretty much the depreciation if I buy it outright, plus don't have the hassle of taking out loans, negative equity, selling it on etc.

What is the other option? PCP?

 

[jamief]

I generally change cars every 2-3 years, so couldn't care less if I don't have anything to show. I guess it comes down to whether or not you view a car as a service or as a possession.

PCP is slightly different, as you have the option of making a final payment to buy the car, otherwise you hand it back, so in that regard it seems very much like a lease, except you pay interest.

 

[jamief]

It was circa £300 exc. VAT. Fiancee is director of a company, so quite likely we could do it through that and claim VAT back? Don't have link handy, will dig it out later, link is saved on laptop

 

[jamief]

Maintenance packages can cover so much more than just the servicing requirements

Like?

 

[jamief]

Erm that would be a no, contract hire and lease purchase you can reclaim 50% of the VAT element of the hire/lease charge and 100% of the maintenance element. If you went through a company then it would be a company car and someone (employee) would be liable for company car tax, and that will be fairly hefty on a golf gti.

Ahh okay. Don't really know about the ins and outs of doing it through a company, so looks like it would be better to do it personally.