New to car leasing

elrasho

elrasho

elrasho

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12 Jan 2009
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Time to get rid of my 04 Golf 1.9 TDi and looking to start leasing cars. I'm looking at a budget of around £130 a month. I could stretch the deposit to £3k. Been in touch with some leasing companies and most have suggested the Nissan Juke. TBH I think it's more of a girls car, can't see me driving it.

Can anyone recommend a car for my budget? Has to be big enough to fit a pram in the boot, have a USB slot for MP3s and rear parking sensors would be great.
 
With a lease you are generally paying a premium for the convenience, after all someone has to pay for the depreciation and that someone is you. Your budget is only going to allow for quite rubbish cars. I would reconsider.
 
I would also reconsider. For the amount of cash you are talking you'll be far better off buying.
 
What do you want? Are you looking to pay cash or take a loan for the car? Seems a bit odd comparing a brand new, leased car and a £3.5k purchase only?

If you were going to put £3k into a lease then £130 per month your equivalent sort of sum over 3 years is more like £7680 - obviously this is excluding any interest and cost of maintenance/repair, but it's also totally ignoring the fact that whatever you buy will have residual value.

If you were interested in jacked up hatchback/mummobile types then the ix35, quashquasimodo and maybe sportage (though it looks well out of that kind of range tbh) would all be reasonable purchases at somewhere close to this budget
 
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a £130 per month lease plus your £3k deposit would mean spending £7.5k over the three years. If you got a personal loan for £4k at 12% you would repay £130 per month for 3 years but have the £7k capital up front to buy something.

If you bought this for example (there are hundreds of other things you could get, but I like the look of these, so that's the example) http://www.autotrader.co.uk/classified/advert/201405154230259 you could drive it for 3 years, put 40k miles on it and be left with a car like this http://www.autotrader.co.uk/classified/advert/201408286943423/ that you could sell for £3.5k all day long. The 3 years will have cost you £3.5k in depreciation rather than £7k for the lease.

For reference, the the kind of car you'd be looking at for your leasing budget would be a juke, a fiesta or a corsa or similar. There will be nothing from Audi, BMW, Lexus, VW (except the up!), Merc or similar brands.
 
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so do the leasing numbers. I'm by no means saying that my example represents the total cost, but it does provide a fair comparison with the lease I think and I have left plenty of room for error/lazyness. I'm sure there would be other cars that are a better balance of running costs and refinement and luxury etc but as I said, that's what I like the look of. Then the disussion can move to where the £7k would actually go, which is far more interesting :p
 
monkey_boy said:
a £130 per month lease plus your £3k deposit would mean spending £7.5k over the three years. If you got a personal loan for £4k at 12% you would repay £130 per month for 3 years but have the £7k capital up front to buy something.

If you bought this for example (there are hundreds of other things you could get, but I like the look of these, so that's the example) http://www.autotrader.co.uk/classified/advert/201405154230259 you could drive it for 3 years, put 40k miles on it and be left with a car like this http://www.autotrader.co.uk/classified/advert/201408286943423/ that you could sell for £3.5k all day long. The 3 years will have cost you £3.5k in depreciation rather than £7k for the lease.

For reference, the the kind of car you'd be looking at for your leasing budget would be a juke, a fiesta or a corsa or similar. There will be nothing from Audi, BMW, Lexus, VW (except the up!), Merc or similar brands.
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WOW never though you could get a Lexus for £7k. It's automatic though I'd prefer manual.

rodenal said:
What do you want? Are you looking to pay cash or take a loan for the car? Seems a bit odd comparing a brand new, leased car and a £3.5k purchase only?

If you were going to put £3k into a lease then £130 per month your equivalent sort of sum over 3 years is more like £7680 - obviously this is excluding any interest and cost of maintenance/repair, but it's also totally ignoring the fact that whatever you buy will have residual value.

If you were interested in jacked up hatchback/mummobile types then the ix35, quashquasimodo and maybe sportage (though it looks well out of that kind of range tbh) would all be reasonable purchases at somewhere close to this budget
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ix35 looks hideous and like you said a mummobile. Getting a low Interest car loan seems like a good idea.
 
elrasho said:
WOW never though you could get a Lexus for £7k. It's automatic though I'd prefer manual.



ix35 looks hideous and like you said a mummobile. Getting a low Interest car loan seems like a good idea.
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OK fine, wouldn't be my car either - but what do you like?

I've never bought a car solely on " I must have x seats, boot like this etc etc" I usually have a good idea of what I actually like then filter that list on what practicalities, if any I require.

No point just looking at cars that will fit a pram and have an mp3 capability as there are literally hundreds that fit the bill
 
I've just ordered a Fiesta Zetec S red special edition (same as this: http://www.whatcar.com/car-news/for...a-10t-ecoboost-140-red-edition-review/1299290) for £965 deposit and £116 per month over 24 months. It's a 9+23 profile and works out at £3663 over 2 years for 5k miles per annum. I expect she'll do around 8k so will need to budget an extra £300 for mileage.

The special edition worked out cheaper than a standard Zetec model. Beyond filling in a form with the leasing company, everything is handled directly with a Ford dealer but the car is delivered to my home.

Never leased a car before (had a PCP deal) but in this instance I couldn't find a better way of buying her a new(er) car (we have a 53 reg Focus 1.6 right now which broke down a couple of weeks ago which caused a lot of disruption for 48 hours). She needs a reliable car for work so this fits the bill plus she really likes the car too.

Running costs are minimal too, it's a 1.0l engine and tax is included (£30 per annum otherwise).

Should be with us mid October. I thought it was a fantastic little car on a test drive.
 
Adam that sounds like a cracking deal, who was it from if you don't mind me asking. I do around 9000 miles a year so will need to think about that . I really do like ford focus but it's out of my price range.
 
A leasing company called smartlease, I did some research but couldn't find too much (a couple of references on these very forums via google) but they have been fine so far. Answered my questions and passed the information to the dealer.
 
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