Best lease car deals available?

[Urban Sports]

Dracoro said:

Urban Sports said:

Dracoro said:

VX Foxy said:

Dracoro said:

But effectively, it costs you about £16,600 to rent the Maserati for a couple of years.

That's a good summary. How much do you think the depreciation would be?

In many ways, it doesn't matter as the car is not owned, it's rented. The renter is unaffected if the car loses or gains a shedload, they pay the £16,600 regardless.

The car may cost £50k for someone to buy retail, however the company renting out the car won't have paid that much (indeed, if it's the manufacturer it will be significantly less than retail price). For example, let's say it costs £35k to manufacture, they get £16,600 from the renter, so just over £18k they need to sell if for (as a 2 yr old car) to make a profit. I suspect a 2 year old one (from a MD) will be £30k at least. From the manufacturers perspective, the car has depreciated about £5k (and got £16k paid to them in the process! £11k instant profit. (figures are for illustrative purposes etc...)

But if you wanted that Maserati and as a private punter without the option for a big discount that the lease company gets then I reckon on that car it'd be cheaper to lease and then get another after the 2 years. You said £30k after 2 years on a car that is £50k new....

Of course, ultimately it simply comes down to whether you want to own or rent a car.

Why would you want to own it if it's going to cost more?

[S798]

Lots of talk about the higher (and lower) ends of the leasing market, but any cracking deals people have noticed on mid-range commuter mobiles?

I'm coming towards the end of my first lease, a Citroen C1 VTR+. Great whilst I was doing about 4k a year, but I'm now doing a round trip of 40 miles daily on dual carraigeway, plus social mileage. It's starting to drive me insane.

Currently looking at the Citroen DS3 1.6 DSport 115 or the Honda Civic 1.6 DTEC as replacements. The Civic is 6+23 at £182 inc VAT and 10k miles pa.

Anything else worth looking at?

[Dracoro]

Urban Sports said:

Dracoro said:

Urban Sports said:

Dracoro said:

VX Foxy said:

Dracoro said:

But effectively, it costs you about £16,600 to rent the Maserati for a couple of years.

That's a good summary. How much do you think the depreciation would be?

In many ways, it doesn't matter as the car is not owned, it's rented. The renter is unaffected if the car loses or gains a shedload, they pay the £16,600 regardless.

The car may cost £50k for someone to buy retail, however the company renting out the car won't have paid that much (indeed, if it's the manufacturer it will be significantly less than retail price). For example, let's say it costs £35k to manufacture, they get £16,600 from the renter, so just over £18k they need to sell if for (as a 2 yr old car) to make a profit. I suspect a 2 year old one (from a MD) will be £30k at least. From the manufacturers perspective, the car has depreciated about £5k (and got £16k paid to them in the process! £11k instant profit. (figures are for illustrative purposes etc...)

But if you wanted that Maserati and as a private punter without the option for a big discount that the lease company gets then I reckon on that car it'd be cheaper to lease and then get another after the 2 years. You said £30k after 2 years on a car that is £50k new....

Of course, ultimately it simply comes down to whether you want to own or rent a car.

Why would you want to own it if it's going to cost more?

Depends on whether you want to own/gave a new car every 2/3 years. Buy it (nearly new or new even) and keep it 5/10 years will be far cheaper than leasing for the same period.
If you were going to be trading in every 2/3 years for a new car regardless, then yes leasing may end up cheaper.

[Urban Sports]

Dracoro said:

Urban Sports said:

Dracoro said:

Urban Sports said:

Dracoro said:

VX Foxy said:

Dracoro said:

But effectively, it costs you about £16,600 to rent the Maserati for a couple of years.

That's a good summary. How much do you think the depreciation would be?

In many ways, it doesn't matter as the car is not owned, it's rented. The renter is unaffected if the car loses or gains a shedload, they pay the £16,600 regardless.

The car may cost £50k for someone to buy retail, however the company renting out the car won't have paid that much (indeed, if it's the manufacturer it will be significantly less than retail price). For example, let's say it costs £35k to manufacture, they get £16,600 from the renter, so just over £18k they need to sell if for (as a 2 yr old car) to make a profit. I suspect a 2 year old one (from a MD) will be £30k at least. From the manufacturers perspective, the car has depreciated about £5k (and got £16k paid to them in the process! £11k instant profit. (figures are for illustrative purposes etc...)

But if you wanted that Maserati and as a private punter without the option for a big discount that the lease company gets then I reckon on that car it'd be cheaper to lease and then get another after the 2 years. You said £30k after 2 years on a car that is £50k new....

Of course, ultimately it simply comes down to whether you want to own or rent a car.

Why would you want to own it if it's going to cost more?

Depends on whether you want to own/gave a new car every 2/3 years. Buy it (nearly new or new even) and keep it 5/10 years will be far cheaper than leasing for the same period.
If you were going to be trading in every 2/3 years for a new car regardless, then yes leasing may end up cheaper.

I agree and the argument only holds up with like for like terms, 2-3 years is when many people would change anyway.

[blueg33]

Any good deals on Porsche Cayman S or F type jag around?

[Beefmeister]

Dracoro - I had a Skoda Yeti on order, RRP of £18,950, which is what I had as a quote, no discounts on them. Was going to pay cash.

I then saw a 3+23 lease deal on the same car, same spec for £210/m including maintenance. So total outlay over 2 years of £5460. Looking around, identical cars are now selling for £12-12.5k, a depreciation of around £6-6.5k, so more than I paid.

But crucially, that £19k has been offsetting our mortgage for 2 years. That is what sold it for me - the fact that I wouldn't lose anything over buying outright, in fact I've gained.

[Dracoro]

If you bought outright, would you have traded it in 2 years time against another new one?

[Beefmeister]

Yes, I would have sold it after 2yrs.

[Urban Sports]

Beefmeister said:

Yes, I would have sold it after 2yrs.

That's what I was on about I reckon most people change every 2 - 3 years.

[S798]

Dracoro said:

Depends on whether you want to own/gave a new car every 2/3 years. Buy it (nearly new or new even) and keep it 5/10 years will be far cheaper than leasing for the same period.
If you were going to be trading in every 2/3 years for a new car regardless, then yes leasing may end up cheaper.

I think this is key.

I had priced up buying and leasing various cars for six years. A good example is that three consecutive leases on a Citroen DS3 DSport would cost me about £15.6k over 6 years. I can buy a brand new one with discount for £14.5k and it'll be worth £3.5-£4k or so in 6 years time.

That said, there is three years of out-of-warranty costs and MOT hassle, but that is highly unlikely to cost close to the saving of buying vs. leasing.

Looking at it from a 2 year perspective though is quite different. The car would cost me £5.2k as a lease, but it is highly likely to depreciate by more than that if I were to buy, even factoring in the discount. I'd also have the hassle of selling.

[B17NNS]

Diesel Maseratis

[Urban Sports]

B17NNS said:

Diesel Maseratis

Nothing wrong with trying to tap into a very lucrative market although I agree a diesel Maserati does sound wrong but you have to start somewhere.

[VX Foxy]

Thankyou4calling said:

Thanks. My current car is through Applied, very good to deal with I found.

We have one through them too.

[Blown2CV]

7 pages in and we've only had one dhead come in and try the "you lease scum can't afford nice cars, TOWIE debt consolidation ITV losers".

I quite fancy leasing a Golf Bluemotion, mainly because it would cost me as much per month as the loan on my current car, I get a car allowance that is more than the cost of either, and it's a very economical if boring car that should give me more money month to month to consider saving for a weekend toy.

Fact is I am not going to sit and save up a little bit of money every month so I can then go and buy something cash, when I could use the money I am saving to have it now, and i don't need to have the hassle of actually owning the car when I don't want or need to.

[JimmyConwayNW]

Leasing is fantastic for so many different reasons, but it certainly divides opinion.

Merc C250 sport diesels as a daily runner for £300 a month 6+23 inc vat is cracking value for money and means you have a good reliable presentable car for the daily grind, with the satnav, ipod interface, Bluetooth and can travel in relative reliable comfort.

Then you can own a fun car to go and blast around at weekends or trackdays.


I am surprised leasing is so frowned upon amongst so called petrol heads.

[Blown2CV]

JimmyConwayNW said:

Leasing is fantastic for so many different reasons, but it certainly divides opinion.

Merc C250 sport diesels as a daily runner for £300 a month 6+23 inc vat is cracking value for money and means you have a good reliable presentable car for the daily grind, with the satnav, ipod interface, Bluetooth and can travel in relative reliable comfort.

Then you can own a fun car to go and blast around at weekends or trackdays.


I am surprised leasing is so frowned upon amongst so called petrol heads.

it's a way of bringing some great cars to people who can afford the lease but haven't taken 5 years out of their lives to save up enough cash to buy a car that way. No-one does that. Only people who have loads of money anyway buy cars with cash, no-one ever saves up to buy a car cash. Those people who crow about lease users being thick credit scum just like to look down on people with less money in the bank, pure and simple. It's nothing to do with saving money on the interest or whatever reason gets used to support the argument, it's just wanting to look down on others and feel superior. I can understand the barge/smoker/shed argument, but not everyone wants to do that. Yea there are people that use a lease, fail to find a good deal, get a boring car that a PHer wouldn't choose, but some people aren't arsed about cars, and also aren't arsed about really putting the effort in to get a good deal. Threads like this prove there are plenty of great deals out there if you look, and it isn't a stupid person's option.

[S798]

Blown2CV said:

it's a way of bringing some great cars to people who can afford the lease but haven't taken 5 years out of their lives to save up enough cash to buy a car that way. No-one does that. Only people who have loads of money anyway buy cars with cash, no-one ever saves up to buy a car cash.

Disagree.

Many of us who lease could afford to buy the car outright, depending on the car often several times over. The reason leasing is preferred is that if you're going to change your car every 2-3 years, the lease cost is less than the equivalent depreciation. It's as simple as that!

[Blown2CV]

S798 said:

Blown2CV said:

it's a way of bringing some great cars to people who can afford the lease but haven't taken 5 years out of their lives to save up enough cash to buy a car that way. No-one does that. Only people who have loads of money anyway buy cars with cash, no-one ever saves up to buy a car cash.

Disagree.

Many of us who lease could afford to buy the car outright, depending on the car often several times over. The reason leasing is preferred is that if you're going to change your car every 2-3 years, the lease cost is less than the equivalent depreciation. It's as simple as that!

it generally isn't less than the depreciation - it's intended to be there or thereabouts the same. The guy that can more afford to buy cash yet still does a lease is a salesman's dream!

[Steve Benson]

If you have £60k to spend you would be mad to buy a car outright. Oop North where I live you would simply buy a house, rent it our for around £600 per month and lease a car with that income. You have a nice shiny car with warranty that can be changed every 3 years AND an appreciating asset that can either be turned into cash when needed or handed on to your kids when you croak. If there is a down side I can't see it.

[Rick101]

I've only just come round to the idea of leasing. Just signed up for a Golf GTD.

What swing it for me is going thorugh all invoices on my current car and then, crucially add the depreciation, made me realise having a 4/5 year old car had cost me a vast amount of money.

I'm really not a fan of 'credit' in general. I have nothing bar a mortgage that isn't cleared in full each month. No contact phone, no gym membership, no Sky etc etc.

Big step to take and I hope it's the right one. The figures speak for themselves.