Best lease car deals available?
Discussion
DKL said:
Forgive my ignorance but would someone take 5 mins to explain exactly how leasing through a business works. We've always bought cars ourselves as we don't do many miles but with wifeys coming due to change I should investigate.
A VAT rated business we have so don't need to worry about the VAT - the mileage work/personal I'll thrash out with my accountant.
For the sake of argument I like the sound of the 335d xdrive touring or an s4 avant.
So there is a deposit and for 3 yrs at 10k a year they seem to be around 450-500 per month +VAT
so it costs dep + 36 x 500 for its use. So 18000 +dep for 3 years (which is tax deductable)in a new car worth 45k.
Does this include road tax/insurance (doubt it), maintenance?
And at the end you just give it back?
So what I missed?
As someone else said already, you can only recover 50% of the VAT on the lease.A VAT rated business we have so don't need to worry about the VAT - the mileage work/personal I'll thrash out with my accountant.
For the sake of argument I like the sound of the 335d xdrive touring or an s4 avant.
So there is a deposit and for 3 yrs at 10k a year they seem to be around 450-500 per month +VAT
so it costs dep + 36 x 500 for its use. So 18000 +dep for 3 years (which is tax deductable)in a new car worth 45k.
Does this include road tax/insurance (doubt it), maintenance?
And at the end you just give it back?
So what I missed?
Maintenance can be added as an extra. 100% of VAT is recoverable on this. At the moment, I'm questioning whether it's worth it on our cars, it's costing £600 pa, for what amounts to a service and two tyres (per year, roughly). The added cost of maintenance varies from car to car, it's good for piece of mind, and includes recovery generally, but whether you could save money doing it all yourself is something to be considered, although on the other hand, it saves a lot of messing about.
RFL is generally included on a lease.
It is a company car, so there's a BIK liability for you based on its' retail price (plus any options you have), and your individual tax code.
Standard cars are generally better value to lease, options tend, in my experience, to be paid for in full over the term of the lease, so you don't get particularly good VFM out of adding extras to the car. The exception sometimes being metallic paint.
VX Foxy said:
ATM said:
3 years is only an extra 6 per month and 40 deposit all plus vat.
Are you suggesting it's better to pay more for a longer lease?At £246 + VAT on a 6+35 the average monthly cost (including VAT and deposit) is £336.
The extra flexibility of the two-year lease might be worth it but unless you replace the car with something cheaper, total cost over three/six years will still be less with the longer deal.
Of course there are deals out there where it's cheaper to start again after two years; this isn't one of them.
Point well made
Personally I'd rather pay a little extra and change after 2 yrs rather than 3.
Just seen this deal:
BMW M135i M Performance Man Hatch ONLY £209.99[6+23]
6+23 10,000 miles per annum
• Xenon Headlamps
• 18" Graphite Alloys
• 0-60 5 Seconds!!!!
• Full Leather Interior
• M Body Styling / Aerodynamics
• Bluetooth
That's a ridiculous bargain!!
Personally I'd rather pay a little extra and change after 2 yrs rather than 3.
Just seen this deal:
BMW M135i M Performance Man Hatch ONLY £209.99[6+23]
6+23 10,000 miles per annum
• Xenon Headlamps
• 18" Graphite Alloys
• 0-60 5 Seconds!!!!
• Full Leather Interior
• M Body Styling / Aerodynamics
• Bluetooth
That's a ridiculous bargain!!
125d M sport
Initial rental of £ 2,039.00
Followed by 23 rentals of £ 169.99
All plus VAT
http://www.cars2vans.com/contract-hire/deals/bmw-1...
Initial rental of £ 2,039.00
Followed by 23 rentals of £ 169.99
All plus VAT
http://www.cars2vans.com/contract-hire/deals/bmw-1...
ATM said:
125d M sport
Initial rental of £ 2,039.00
Followed by 23 rentals of £ 169.99
All plus VAT
http://www.cars2vans.com/contract-hire/deals/bmw-1...
That's broadly the equivalent of £228 + VAT at 3 + 23. Not bad, what's the mileage limit?Initial rental of £ 2,039.00
Followed by 23 rentals of £ 169.99
All plus VAT
http://www.cars2vans.com/contract-hire/deals/bmw-1...
ETA: would help if I clicked on the link first. 5,000 pa
VX Foxy said:
Point well made
Personally I'd rather pay a little extra and change after 2 yrs rather than 3.
Just seen this deal:
BMW M135i M Performance Man Hatch ONLY £209.99[6+23]
6+23 10,000 miles per annum
• Xenon Headlamps
• 18" Graphite Alloys
• 0-60 5 Seconds!!!!
• Full Leather Interior
• M Body Styling / Aerodynamics
• Bluetooth
That's a ridiculous bargain!!
got a link?Personally I'd rather pay a little extra and change after 2 yrs rather than 3.
Just seen this deal:
BMW M135i M Performance Man Hatch ONLY £209.99[6+23]
6+23 10,000 miles per annum
• Xenon Headlamps
• 18" Graphite Alloys
• 0-60 5 Seconds!!!!
• Full Leather Interior
• M Body Styling / Aerodynamics
• Bluetooth
That's a ridiculous bargain!!
If it helps, here are a few tips to consider.
Beware of cheap lease deals that don't explain the hidden extra costs, mileage being one of them.
Audi have a really good rate for additional mileage, at 6p per mile it is amongst the best value out there. They also have a fair wear and tear system as I have experienced over many years.
Also, you must seriously consider GAP insurance. Yes, if you have a loss the insurance company will fork out for a compatible replacement vehicle but you won't be insured against the loss of earnings from the hire or lease company. This is where it will hurt and where many fall foul of trying to save a few quid by not taking GAP insurance.
After saying all that, there's nothing wrong with lease purchasing, contract hiring etc as in a lot of cases the cost doesn't equal the depreciation of a new car.
Beware of cheap lease deals that don't explain the hidden extra costs, mileage being one of them.
Audi have a really good rate for additional mileage, at 6p per mile it is amongst the best value out there. They also have a fair wear and tear system as I have experienced over many years.
Also, you must seriously consider GAP insurance. Yes, if you have a loss the insurance company will fork out for a compatible replacement vehicle but you won't be insured against the loss of earnings from the hire or lease company. This is where it will hurt and where many fall foul of trying to save a few quid by not taking GAP insurance.
After saying all that, there's nothing wrong with lease purchasing, contract hiring etc as in a lot of cases the cost doesn't equal the depreciation of a new car.
snorkel sucker said:
I really can't se muxh point in getting a 125d on a 5k annual miles deal.
At such low miles diesel just isn't worth it.
It is if it's cheaper than the equivalent petrol, which it seems to be. It's only a 2 year lease, so running costs are the only real factor to worry about. It won't even need a service.At such low miles diesel just isn't worth it.
I'd guess it's also fairly unlikely that many people will take them on a 5,000 mile deal, they seem to be headline figures designed to attract customers who tailor the lease to their own needs.
AstonTony said:
Audi have a really good rate for additional mileage, at 6p per mile it is amongst the best value out there. They also have a fair wear and tear system as I have experienced over many years.
ThisWith some lease deals the extra mileage fees work out cheaper than going for the 10 or 15k pa deal in the first place. So start with the 5k and calc what it is with another 5k pa in 6p / miles.
Plus if you do end up not using it much then you're saving money.
chr15b said:
VX Foxy said:
Point well made
Personally I'd rather pay a little extra and change after 2 yrs rather than 3.
Just seen this deal:
BMW M135i M Performance Man Hatch ONLY £209.99[6+23]
6+23 10,000 miles per annum
• Xenon Headlamps
• 18" Graphite Alloys
• 0-60 5 Seconds!!!!
• Full Leather Interior
• M Body Styling / Aerodynamics
• Bluetooth
That's a ridiculous bargain!!
got a link?Personally I'd rather pay a little extra and change after 2 yrs rather than 3.
Just seen this deal:
BMW M135i M Performance Man Hatch ONLY £209.99[6+23]
6+23 10,000 miles per annum
• Xenon Headlamps
• 18" Graphite Alloys
• 0-60 5 Seconds!!!!
• Full Leather Interior
• M Body Styling / Aerodynamics
• Bluetooth
That's a ridiculous bargain!!
I cannot get my head around this. How do BMW do this? I can only assume that they have built loads, they are not selling and they are cutting their losses?
http://citroenleasing.rtrk.co.uk/?scid=93438&k...
Is this not a fab deal at 99 a month?
Actually when you re-read it it works out at just over 183 a month inc tax and the upfront.
Is this not a fab deal at 99 a month?
Actually when you re-read it it works out at just over 183 a month inc tax and the upfront.
Edited by carparkno1 on Thursday 12th December 15:54
yeah, you're right - I'm just bitter cos id love one but do at least 25k miles a year.
Super Slo Mo said:
It is if it's cheaper than the equivalent petrol, which it seems to be. It's only a 2 year lease, so running costs are the only real factor to worry about. It won't even need a service.
I'd guess it's also fairly unlikely that many people will take them on a 5,000 mile deal, they seem to be headline figures designed to attract customers who tailor the lease to their own needs.
I'd guess it's also fairly unlikely that many people will take them on a 5,000 mile deal, they seem to be headline figures designed to attract customers who tailor the lease to their own needs.
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