Show Us Your Motors!

MichaelAwkward · 2 Jun 2018 at 13:21

grudas said:
Ved is included, maintenance is also not an issue as it's a brand new car with warranty on it.

All in it probably is a little more expensive than buying it yourself but all you're paying is expected depreciation costs which can often be lower or higher than your total over term.

He said he's saving on depreciation/maintenance/VED compared to having his name on the V5, not compared to buying an older car.

And yes VED is included, but it isn't free. It's a calculated part of the lease payment. Maintenance is also still required, it just needs less of it. Even if he times it right, it'll still need at least 2 services, no?

DTD currently have it available to order for £24.6k, so that's actually 47% over 3 years to rent compared to PCP/bank loan.

[TW]Fox · 2 Jun 2018 at 13:57

aowc02 said:
cheapest way of new car ownership

No it isn't, it's generally the most expensive way of new car ownership except for the odd rare bargain-lease that pops up. If you know what car you want then typically a lease is the most expensive way to drive it.

Lets take the Golf - the GTI lease is £11,525 for 3 years on a 3+25 deal including the admin charge.

Drive the Deal can get you a brand new Golf GTI for £24,600. A 3 year old 30k mile Golf GTI has a trade value of £15830.

So that's £8770 over the term to buy it outright, run it and then chuck it at the trade for book price. If you needed to borrow the money it'd probably cost you about a grand.

Leasing is popular not because its the cheapest way into a brand new car but because it gets you a brand new car for 900 quid down and 300 quid a month instead of having to find 24 grand. But then to address that there are PCP options available.

aowc02 · 2 Jun 2018 at 13:58

MichaelAwkward said:
DTD currently have it available to order for £24.6k, so that's actually 47% over 3 years to rent compared to PCP/bank loan.

Can you link me that deal? Last i checked DTD - price came in at 27k. same with CarWow @ 27.5. What I love about both sites - they never advertise the hidden costs unless you go through the various quotations. then the little extras appear such as delivery costs (£500?), broker fee etc etc. which all totalled up. % value at the time was 42% for 3 years, 25-7% for 2 years.

PCP / Bank-loan isn't compatible to my £££ situation - unless you go for a 7 year BL - costs comes in at £328 a month. Problem is it overlaps into a remortgage period between Year 5 & 7 of the loan. You also need to factor in a 10-15% additional depreciation hit when the new MK8 comes in 2-3 years time, when the lease ends. that 10-15% is insinuated between the comparable costs of a Mk6 & mk7, a mk7 and mk7.5 of similar mileage /age (basically when the new model hits).

and agree with the 2 service comment. its each to their own - spent a while totalling up the figures at the time and discussing it with people who lease and purchase cars - as well as advice received on the Piston-heads.

All in all, I maybe 1-2k worse off, or ill be 1k better off. Peace of mind at a fixed fee, with - hopefully - no significant hurdles in the future. Only issue I see is that I am fixed in for 3 years and i have to look after the car

Firestar_3x · 2 Jun 2018 at 17:55

Golf looks good for a rental car.

Blackhawk47 · 2 Jun 2018 at 20:28

Majority of people don’t buy cars with outright cash. I imagine 90% of new cars if not more.

Dav4 · 2 Jun 2018 at 20:39

Joe T said:
Enjoying having a wagon again.

Insignia Sports Tourer SRi Nav VX-Line 2.0cdti 170 with 8 speed auto.

What’s it like to park?

They are huge the new Insignia estates. Nice colour as well first one I’ve seen that’s not black or white lol

Janesy B · 2 Jun 2018 at 20:43

TurboShoe™

aowc02 · 2 Jun 2018 at 21:47

Janesy B said:
TurboShoe™

nice ride

- question

is it me or does the right side brake-disks look less rusty than the other? or is the camera playing tricks on me

Blackhawk47 · 2 Jun 2018 at 21:52

aowc02 said:
nice ride - question

is it me or does the right side brake-disks look less rusty than the other? or is the camera playing tricks on me

He has washed it (in the first pic).

Then moved it (in the second pic), using the brakes and getting rid of the surface rust which you get when the brake disc gets wet while washing.

crinkleshoes · 2 Jun 2018 at 21:58

MichaelAwkward said:
Except it's not because there's no car ownership involved for you. You're just paying 38%~ of the list price to rent it for 3 years, which is surely more than a Golf GTI depreciates? Also you're still paying for maintenance and VED with a lease surely?...

Sorry, don't mean to pee all over your parade but it sounds like you think this is a better deal than it is.

Usually leasing companies will get group buy discounts or whatever the term might be in car world.

I've seen it often where a lease will be significantly cheaper than your average punter buying or putting on PCP.

It varies... it's not always the case... it can go the other way too if you find the right car from the right seller.

Just play the market to see what's best at the time you need to buy.

MichaelAwkward · 2 Jun 2018 at 22:04

crinkleshoes said:
Usually leasing companies will get group buy discounts or whatever the term might be in car world.

I've seen it often where a lease will be significantly cheaper than your average punter buying or putting on PCP.

It varies... it's not always the case... it can go the other way too if you find the right car from the right seller.

Just play the market to see what's best at the time you need to buy.

Yeah, but that's not the case here.

aowc02 · 2 Jun 2018 at 22:06

you remind me of something @crinkleshoes

when i got my leasing papers - they accidentally sent me the invoice they paid for the vehicle

it was 22k. I asked what do i insure against, the invoice value or what the perceived value of the car is (28k) - they ordered me to insure against the 28k or ill be liable for any shortfall incase of a payout

mjt · 2 Jun 2018 at 22:09

MichaelAwkward said:
Isn't that a lease anyway? Seems weird to call something you don't own your pride and joy.

I paid for my Golf with a bank loan. My (gf's for NCB build-up) name is on the documents, but it wasn't my money. Is that really any different?

FWIW, the Golf is a fantastic car. I do wish my 150bhp had more oomph on motorways and sliproads, but it's still a great all-round car and the 7.5 is just that smidge better. Enjoy @aowc02 !

MichaelAwkward · 2 Jun 2018 at 22:12

mjt said:
I paid for my Golf with a bank loan. My (gf's for NCB build-up) name is on the documents, but it wasn't my money. Is that really any different?

Yes, because your bank loan probably isn't secured against the vehicle. As far as VW or whoever you bought the car from is concerned, you paid cash in full. V5 isn't proof of ownership anyway (not sure why you need your GF's name on it??? NCB has nothing to do with who owns the car?).

crinkleshoes · 2 Jun 2018 at 22:14

LiE said:
It's very need for speed / fast and furious.

It's a nice car though. Colour is a very personal choice

I hadn't thought about the NFS thing until I saw someone mention it in another thread.

I actually quite like that... makes me feel like a kit again... which is one of the reasons I like fun cars so much... they take me back to feeling like a kid again

Rossi~ said:
But it's white underneath

I've always liked matt black wraps.

Never seen a car in matte black that I like... Lambo Matte Orange... heck yes!

OK... there's one exception... there's a guy who made his lambo matte black with the batman logos & dresses up like batman to put a smile on kids faces... I like that... but because of the purpose... not the matte black

geekman said:
I actually quite like it Plus it's only a wrap, not like it's permenant.

Cayenne looks great too.

[TW]Fox said:
So what if its a wrap? Not like he's going to spend thousands wrapping it and then take it off next week is it?

geekman said:
Considering the amount he lost on the GT3....... yes?

It'll stay until the next owner, unless the next owner prefers the white... then he'll have perfect white paint to enjoy

After my experience with the 720... all my cars are going to get some kind of wrap.

If I could have got the right spec in Sakhir Orange II, Marina Blue, CS Blue or something similar... then it would have been clear PPF.

I really dislike white cars... only cars I've seen that can pull off white are Porsche, Ferrari & Radical.

Wizzfizz said:
Have to agree, it looks a bit chavtastic to me

It's not a corner sofa...

mjt · 2 Jun 2018 at 22:16

MichaelAwkward said:
Yes, because your bank loan probably isn't secured against the vehicle. As far as VW or whoever you bought the car from is concerned, you paid cash in full. V5 isn't proof of ownership anyway (not sure why you need your GF's name on it???).

Don't live in the UK, owner's name is on the documents here. Unlike the UK, anyone is allowed to drive the car as the vehicle itself is insured, not the driver.

I get your point, but I didn't use my money to purchase the car, so it's harsh to call someone out on saying a lease "isn't their pride and joy". (And I do appreciate the difference between a lease and purchasing a car).

crinkleshoes · 2 Jun 2018 at 22:18

MichaelAwkward said:
Yeah, but that's not the case here.

Yeah... you're right... read the other posts below yours after I'd already replied to yours :/

He could've done better... but from the look of Fox's calculations... it's only about £2-2.5k over 3 years, so not a tremendous loss compared to the cheapest option available... plus leases are easier to obtain and I think the guy mentioned he has a re-mortgage to deal with during the period... so a lease, even if slightly more expensive... may have been the better option due to the way some finance companies calculate liabilities as total finance risk vs monthly outlay.

Irregardless... he sounds happy with his decision... but at least you guys have given him something else to look at next time

MichaelAwkward · 2 Jun 2018 at 22:24

mjt said:
I get your point, but I didn't use my money to purchase the car, so it's harsh to call someone out on saying a lease "isn't their pride and joy". (And I do appreciate the difference between a lease and purchasing a car).

I dunno, I just wouldn't call something that isn't mine and that I'll never own my "pride and joy", so I found it odd enough to comment on.

aowc02 · 2 Jun 2018 at 22:25

MichaelAwkward said:
I dunno, I just wouldn't call something that isn't mine and that I'll never own my "pride and joy", so I found it odd enough to comment on.

each to their own

!

crinkleshoes · 2 Jun 2018 at 22:25

aowc02 said:
you remind me of something @crinkleshoes

when i got my leasing papers - they accidentally sent me the invoice they paid for the vehicle

it was 22k. I asked what do i insure against, the invoice value or what the perceived value of the car is (28k) - they ordered me to insure against the 28k or ill be liable for any shortfall incase of a payout

Yup... they often get great deals... as punters, we usually only get those kind of deals towards the end of a models life. Even then you have to know how to play the game.