Best lease car deals available?

[CYMR0]

juggsy said:

I'm in the market for a large family car the missus will mainly drive, and I must admit I'm really struggling to sift through all the different offers and websites offering deals, discounts, options etc. I'm also trying to figure out whether I should just buy outright with a loan+deposit rather than lease. Know there's a lot of subjectivity involved but it really is a minefield.

What would you do if leasing wasn't an option? Make that your benchmark and then consider leasing. I don't know how big you would want but with a deposit that size and a three-year deal, you would be shopping at £18k. As a one-size-fits-all option, you have this:

http://www.motorpoint.co.uk/VehicleAdvert/FORD/KUG...

That should lose about £9k over three years and 45k, so effectively you still have your deposit back for next time plus a bit for inflation.

juggsy said:

Currently looking for an SUV-esque diesel which will cover approx 15k miles pa, ideally not too much more than £300 per month, around 8k deposit (all can be flexed if deal is worth it). Part of the issue is most sites offer deals for around 8-10k miles pa, so its tricky to see the offers for higher mileage without requesting for quotes.

Most deals will allow excess mileage at no more than 10ppm + VAT. So worst case scenario is likely to be £70 per month. If you add on a notional £60 per month including VAT then you have a shot at it before you press on. In reality you might find it's less but at least you have a "sniff test" for affordability.

juggsy said:

There seems to be plenty of options around, almost too many, just trying to figure out the best deal (i.e. Up-front deposit vs monthly cost etc). I'm sure its just a case of sitting down and plugging the numbers, but I'd appreciate any tips, suggestions and advice on sifting through the 'noise', as well as any offers anyone has seen loosely fitting the above requirements.

To match the Kuga above, if that's what you want, you'd have to come in at £199 + VAT including any excess mileage. Of course you might be willing to pay a small premium for newness, so let's ignore the excess mileage charge for the sake of man-maths (and because it could be less than the 10ppm I've mentioned).

So for instance you could get a 6+23 on a Kuga for £220 per month including VAT. The overall cost per month is higher but then you change car sooner. Other options include a CR-V for £240 on a 6+35 but with only 8k miles p.a. The Hyundai ix35 is also available for similar money, and a Volvo XC60 (if you want something big and impressive) is within your original budget.

One thing I would say is that £8k down is huge for a lease - because at some point you'll have to do it again. If you do £8k plus a bank loan then if you change every few years you've basically got a 40% deposit rolling over for life. If you lease, you'll have to save that deposit in addition to your lease payments. That's not a problem necessarily, as long as the overall cost is factored in. One thing you must be clear on however is - you have to assume that you *will* be changing cars when the lease ends, not before (because you'll have to pay the lease out and so might as well keep the car no matter what) and not after (because there's a pre-determined time for it to go back).

[soxboy]

If you fancy a car like a Lexus, but not a Lexus, there's the Infiniti Q50 2.2 CDi Executive at £227.57 inc Vat 9+23. Available at Applied Leasing.

[juggsy]

Thanks Cymr0, appreciate the advice, particularly regarding deposit. Seems most offers require far less than that, so I should consider putting down less capital.

Soxboy thanks for the link, Q50 isnt what I'm after as I'm looking for an SUV, however they also have a Q3 s-line plus deal which seems pretty reasonable: http://www.appliedleasing.co.uk/personal-lease-car...

9+23 at £295 seems pretty good for a well loaded q3?

[Broccers]

It's not a deposit

[juggsy]

Broccers said:

It's not a deposit

Fair point, up-front payment I meant, you can tell leasing is new to me as I've always bought privately.

[Welshbeef]

juggsy said:

Thanks Cymr0, appreciate the advice, particularly regarding deposit. Seems most offers require far less than that, so I should consider putting down less capital.

Soxboy thanks for the link, Q50 isnt what I'm after as I'm looking for an SUV, however they also have a Q3 s-line plus deal which seems pretty reasonable: http://www.appliedleasing.co.uk/personal-lease-car...

9+23 at £295 seems pretty good for a well loaded q3?

Um that's not a 2+23 its a 9+23

[juggsy]

Welshbeef said:

Um that's not a 2+23 its a 9+23

I said 9+23?

[Fox-]

juggsy said:

Thanks Cymr0, appreciate the advice, particularly regarding deposit. Seems most offers require far less than that, so I should consider putting down less capital.

Soxboy thanks for the link, Q50 isnt what I'm after as I'm looking for an SUV, however they also have a Q3 s-line plus deal which seems pretty reasonable: http://www.appliedleasing.co.uk/personal-lease-car...

9+23 at £295 seems pretty good for a well loaded q3?

Not really? It's 10 grand to borrow one for 2 years. The Q3 residuals are rock solid, I doubt you'd lose £10k on a well purchased one over 2 years.

[Dog Star]

Thankyou4calling said:

Some serious man maths here. I know in my SLK diesel I get over 50mpg on average while my business partner has the same car but petrol and averages 24. I also enjoy the lazy nature of the engine but I haven't driven either BMW.

Our observations EXACTLY with the SLKs (mentioned elsewhere by me on PH) . Friends were seeing mid to high 20s in their identical age petrol SLK. They've gone to the diesel (and I've just got another) and bingo! 50s.

[JQ]

Fox- said:

juggsy said:

Thanks Cymr0, appreciate the advice, particularly regarding deposit. Seems most offers require far less than that, so I should consider putting down less capital.

Soxboy thanks for the link, Q50 isnt what I'm after as I'm looking for an SUV, however they also have a Q3 s-line plus deal which seems pretty reasonable: http://www.appliedleasing.co.uk/personal-lease-car...

9+23 at £295 seems pretty good for a well loaded q3?

Not really? It's 10 grand to borrow one for 2 years. The Q3 residuals are rock solid, I doubt you'd lose £10k on a well purchased one over 2 years.

According to Whatcar, it'll lose £12,000 in the first 2 years, add in finance costs at £2,500 and suddenly it doesn't look so bad.

Edited by JQ on Tuesday 15th July 09:11

[CYMR0]

JQ said:

According to Whatcar, it'll lose £12,000 in the first 2 years, add in finance costs at £2,500 and suddenly it doesn't look so bad.

Edited by JQ on Tuesday 15th July 09:11

A nearly-new one is about £22k; it's unlikely to be £10k in two years and that assumes you would even want to change then.

[gizlaroc]

Dog Star said:

Thankyou4calling said:

Some serious man maths here. I know in my SLK diesel I get over 50mpg on average while my business partner has the same car but petrol and averages 24. I also enjoy the lazy nature of the engine but I haven't driven either BMW.

Our observations EXACTLY with the SLKs (mentioned elsewhere by me on PH) . Friends were seeing mid to high 20s in their identical age petrol SLK. They've gone to the diesel (and I've just got another) and bingo! 50s.

I find that strange, my Mum was in an SLK250 petrol for a few days when her A Class was in the shop, and that was showing 41mpg average for the first 6000 miles, as a demo/loan car.

But not the thread for it, so I better shut up.

[AdamGP]

I'm really tempted by the current Corsa VXR deal, 6x23 £140 inc vat 10k, think I need to just man up and take the plunge for some cheap trouble free motoring.

[mi1ne]

got a link for that adam? Might be interested in that.

[sc0tt]

http://www.allcarleasing.co.uk/car-leasing/vauxhal...

[AdamGP]

mi1ne said:

got a link for that adam? Might be interested in that.

It was an email offer, only slightly better than the one above

[rs200evo]

Anyone know of a leasing company that offer better deals for the whole lease cost up front? With interest rates so low money in the bank is not doing anything so I'd prefer to save more and not be paying the interest on the depreciation they factor in.

[edo]

rs200evo said:

Anyone know of a leasing company that offer better deals for the whole lease cost up front? With interest rates so low money in the bank is not doing anything so I'd prefer to save more and not be paying the interest on the depreciation they factor in.

I think this is called "purchasing the car"

[Urban Sports]

edo said:

rs200evo said:

Anyone know of a leasing company that offer better deals for the whole lease cost up front? With interest rates so low money in the bank is not doing anything so I'd prefer to save more and not be paying the interest on the depreciation they factor in.

I think this is called "purchasing the car"

[rs200evo]

edo said:

I think this is called "purchasing the car"

A lot of these 6 + 24 deals are a safer bet than buying and selling in 2 years. I'd happily just pay the total cost up front of some of these deals, if I could get an even better deal by doing so....