New Cars - is Leasing going to become the new norm?
Discussion
Sump said:
In other countries they don't let the poor folks have dreams and ambitions. They don't let them get where they shouldn't be either. Over here it's completely the opposite with access to credit etc etc.
Still don't understand why.
Leasing isn't technically credit. They check if you are credit worthy but it doesn't go on your credit file as they aren't lending you money.Still don't understand why.
chrispmartha said:
Sump said:
In other countries they don't let the poor folks have dreams and ambitions. They don't let them get where they shouldn't be either. Over here it's completely the opposite with access to credit etc etc.
Still don't understand why.
Leasing isn't technically credit. They check if you are credit worthy but it doesn't go on your credit file as they aren't lending you money.Still don't understand why.
Waits for the, I know millionaires leasing as they don't want to tie up £100k in a car brigade
culpz said:
There must be a fair few people that either don't know about leasing at all or or just completely rule it out as an option. I only really properly knew about it a few years ago some months before ordering my car via lease.
A friend in work told me about it when he said that our company do not do any company cars or salary sacrifice schemes, even though i work for a hire company. I still find that odd but hey ho. I would have never considered it before as i always believed in buying something upfront in cash. However, when i looked it further it really swayed me and i went for it and haven't really looked back.
I was getting my car serviced the other week and while waiting around a young lad with a Polo come in to speak to the sales guy about upgrading into a different car. It became clear that the he had it on a PCP and wanted to chop it in for a new Scirocco. I could hear the sales guy going on about how much it would cost him alongside all of the additional insurances and tyre cover and all that stuff. All in all it was way too expensive and out of his reach entirely and left it at that.
I thought to myself i wonder if he's even considered or looked into how much a lease would be or would have been? I couldn't hear everything but for what they were about to charge him even taking out of account his current polo and just starting on the Rocco as fresh it was way more than i'm paying on mine.
I know you keep saying 'my car'. But surely a leased car isn't actually yours at any point? (unless you buy it at the end of the lease).A friend in work told me about it when he said that our company do not do any company cars or salary sacrifice schemes, even though i work for a hire company. I still find that odd but hey ho. I would have never considered it before as i always believed in buying something upfront in cash. However, when i looked it further it really swayed me and i went for it and haven't really looked back.
I was getting my car serviced the other week and while waiting around a young lad with a Polo come in to speak to the sales guy about upgrading into a different car. It became clear that the he had it on a PCP and wanted to chop it in for a new Scirocco. I could hear the sales guy going on about how much it would cost him alongside all of the additional insurances and tyre cover and all that stuff. All in all it was way too expensive and out of his reach entirely and left it at that.
I thought to myself i wonder if he's even considered or looked into how much a lease would be or would have been? I couldn't hear everything but for what they were about to charge him even taking out of account his current polo and just starting on the Rocco as fresh it was way more than i'm paying on mine.
Sump said:
Still a way for someone who doesn't have the financial resources to get into one.
Waits for the, I know millionaires leasing as they don't want to tie up £100k in a car brigade
Well actually no, its a way for someone that does have the financial resources. i.e they can afford the monthly rent. to get a car that will use to get to A to B, thats the reality of most people that lease.Waits for the, I know millionaires leasing as they don't want to tie up £100k in a car brigade
I really really done see why people have an issue with this way of doing things. A car is a monthly outgoing for a lot of people, its a tool they use to get from A to B, leasing is a good way of letting people get a toll they need on a set monthly price for a set amount of time. They are not borrowing money to buy something they can't afford, they aren't buying anything.
chrispmartha said:
Well actually no, its a way for someone that does have the financial resources. i.e they can afford the monthly rent. to get a car that will use to get to A to B, thats the reality of most people that lease.
I really really done see why people have an issue with this way of doing things. A car is a monthly outgoing for a lot of people, its a tool they use to get from A to B, leasing is a good way of letting people get a toll they need on a set monthly price for a set amount of time. They are not borrowing money to buy something they can't afford, they aren't buying anything.
Because for some people a car is a signifier of social status, and driving one that you don't own outright is seen as "cheating".I really really done see why people have an issue with this way of doing things. A car is a monthly outgoing for a lot of people, its a tool they use to get from A to B, leasing is a good way of letting people get a toll they need on a set monthly price for a set amount of time. They are not borrowing money to buy something they can't afford, they aren't buying anything.
St John Smythe said:
I know you keep saying 'my car'. But surely a leased car isn't actually yours at any point? (unless you buy it at the end of the lease).
Surely he's just using that to describe the car, I know if someone asks me to move 'my car' I don't correct them saying the car is actually owned by Alphabet Leasing and I pay a monthly fee to use it for 24 months. ;-)St John Smythe said:
I know you keep saying 'my car'. But surely a leased car isn't actually yours at any point? (unless you buy it at the end of the lease).
Yes i'm fully aware. What do you want me to do? Keep constantly making it clear that i'm not technically the owner of the vehicle? I do have the option to buy the car at the end which i am considering as it gets nearer to finishing.See this is what annoys me. People are so petty and have to correct me that it's not actually my car. However it's the car i use and drive for social and commuting purposes for 3 years. Near enough right? Please don't shoot me again with the politically correct cannon.
culpz said:
St John Smythe said:
I know you keep saying 'my car'. But surely a leased car isn't actually yours at any point? (unless you buy it at the end of the lease).
Yes i'm fully aware. What do you want me to do? Keep constantly making it clear that i'm not technically the owner of the vehicle? I do have the option to buy the car at the end which i am considering as it gets nearer to finishing.See this is what annoys me. People are so petty and have to correct me that it's not actually my car. However it's the car i use and drive for social and commuting purposes for 3 years. Near enough right? Please don't shoot me again with the politically correct cannon.
wemorgan said:
I can't see it changing much from the present status. If too many new cars are leased then the main dealers will have too many second hand cars to move on in 2-4 years.
......and if it does, the bottom falls out of the 2nd hand market - great for buyers like me (keep up the good work you lucky leasers)Scoredraw said:
wemorgan said:
I can't see it changing much from the present status. If too many new cars are leased then the main dealers will have too many second hand cars to move on in 2-4 years.
......and if it does, the bottom falls out of the 2nd hand market - great for buyers like me (keep up the good work you lucky leasers)still good for 2nd hand buyers, although I'm not sure Id personally want to buy an ex lease car, I'm sure many of them aren't treated with the care and respect of owned cars.
Edited by chrispmartha on Thursday 9th July 13:47
Trex0 said:
otolith said:
Because for some people a car is a signifier of social status, and driving one that you don't own outright is seen as "cheating".
I think you've hit the nail on the head. Otherwise why would some people get so emotional about the whole thing?
St John Smythe said:
Trex0 said:
otolith said:
Because for some people a car is a signifier of social status, and driving one that you don't own outright is seen as "cheating".
I think you've hit the nail on the head. Otherwise why would some people get so emotional about the whole thing?ORD said:
Of course it's his car. He has the right to use it for a defined period. Ownership itself is just a bundle of rights. My house is 'mine' despite being a long lease rather than freehold.
Is he allowed to take the trim out and change it for another colour? And hardwire install his dash cam? Is he allowed to change the alloys to something else?Sump said:
Is he allowed to take the trim out and change it for another colour? And hardwire install his dash cam? Is he allowed to change the alloys to something else?
He doesn't have those rights. Just like I cannot make major changes to my house without the freeholder's permission.culpz said:
St John Smythe said:
Trex0 said:
otolith said:
Because for some people a car is a signifier of social status, and driving one that you don't own outright is seen as "cheating".
I think you've hit the nail on the head. Otherwise why would some people get so emotional about the whole thing?Gassing Station | General Gassing | Top of Page | What's New | My Stuff