Best lease car deals available?
Discussion
I'm being pretty general her but the lease deals out there at the moment don't appear anywhere near as appealing as they were six months ago. Mercedes, Audi , BMW are at least 20% more and other brands too. Either that or you have to really extend yourself with the deposit or have a fuel allowance. What do others think.
Will we see the return of the £350 CLS or £399 6 series or was it all too good to last?
Will we see the return of the £350 CLS or £399 6 series or was it all too good to last?
rs200evo said:
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....
I doubt you'll find one. I've tried a few times in the past for big fleet customers and couldn't find any leasing companies that would do it. Thankyou4calling said:
I'm being pretty general her but the lease deals out there at the moment don't appear anywhere near as appealing as they were six months ago. Mercedes, Audi , BMW are at least 20% more and other brands too. Either that or you have to really extend yourself with the deposit or have a fuel allowance. What do others think.
Will we see the return of the £350 CLS or £399 6 series or was it all too good to last?
I noticed that too, many seemed to require 9 months initial payment now.Will we see the return of the £350 CLS or £399 6 series or was it all too good to last?
Maybe it's the summer and the offers will return closer to September quarter.
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.
Land Rover and MINI used to offer pay 50% now, 50% in 2 years but you weren't saving anything and I doubt it's in any manufacturers interest to do it now.Why not just take the lease and stick the money you would have spent in an ISA?
soxboy said:
I noticed that too, many seemed to require 9 months initial payment now.
Maybe it's the summer and the offers will return closer to September quarter.
Or maybe as the news keeps telling us the recovery is here and growing also car sales are at record levels so they don't need to discount as many. Maybe it's the summer and the offers will return closer to September quarter.
Or it could be they are beginning to price in a higher cost of financing over 2/3/4 years
Combine these two and it can push up prices/deals accordingly.
Welshbeef said:
Or maybe as the news keeps telling us the recovery is here and growing also car sales are at record levels so they don't need to discount as many.
Or it could be they are beginning to price in a higher cost of financing over 2/3/4 years
Combine these two and it can push up prices/deals accordingly.
I agree. There isn't the pricing at the moment that there was and I think it may well be that the economy has improved and with many 2 year leases coming yo an end people will simply shrug and pay it as a new car is a must.Or it could be they are beginning to price in a higher cost of financing over 2/3/4 years
Combine these two and it can push up prices/deals accordingly.
take delivery of my gateway2lease deal Mini Cooper in 3 weeks. Ordered the beginning of June so the lead time has been a bit rubbish but not overly bothered as my current car is still going strong. Was offered the opportunity to wait til an early september delivery to register it as a 64 plate... but since it isnt my car I couldnt give a f*** what the number plate says and am taking it a couple of weeks earlier
soxboy 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.
Land Rover and MINI used to offer pay 50% now, 50% in 2 years but you weren't saving anything and I doubt it's in any manufacturers interest to do it now.Why not just take the lease and stick the money you would have spent in an ISA?
Tried asking about it on PCP a few months ago but no one seemed to offer it.
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 quoted a deal yesterday where it was as cheap to buy the car outright as it was to lease! He wanted a 4 year deal. The discounts on certain manufacturers are so ridiculous that the otr on certain cars isn't much different than a total lease cost. You HAVE to put some HP finance on them or it's no deal (30% min is ok) , but it can be paid off a couple of months down the line anyway so you're quids in! 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.
va1o said:
I'd jump on a deal like that if a lease company offered it. Would much prefer to spend a lump sum of cash now than drip feeding out of my bank account every month.
Tried asking about it on PCP a few months ago but no one seemed to offer it.
If you have a PCP agreement with say £30k borrowed over 3 years and £10k at the end you could pay off £20k after 2 months leaving just the balloon, and you can choose to shorten the term or reduce the monthlies. If you did the latter you would then just pay the interest on the £10k balloon. Tried asking about it on PCP a few months ago but no one seemed to offer it.
Personal Contact Hire is different, all the interest is included in the deal so to speak, and you can't get out early if circumstances change, so absolutely no point doing this at all.
Just open a new bank account and put all the money needed to service the contract in there at the start if it really hurts you to see it going out monthly?
Edited by gizlaroc on Wednesday 16th July 23:31
Thankyou4calling said:
I'm being pretty general her but the lease deals out there at the moment don't appear anywhere near as appealing as they were six months ago. Mercedes, Audi , BMW are at least 20% more and other brands too. Either that or you have to really extend yourself with the deposit or have a fuel allowance. What do others think.
Will we see the return of the £350 CLS or £399 6 series or was it all too good to last?
Car production is slowing AFAIK.Will we see the return of the £350 CLS or £399 6 series or was it all too good to last?
If you guys are anything like me when browsing these offers you have calculator + notepad or excel open to calcualte/compare the costs of these lease deals
Anyway, when I was doing the sums for my m135i lease I created a quick calculator for myself (and a couple of friends) and thought I'd share it with you guys.
Enjoy: http://pcpfinancecalculator.co.uk/CompareFinanceQu...
Any comments/questions/requests/feedback more than welcome.
Anyway, when I was doing the sums for my m135i lease I created a quick calculator for myself (and a couple of friends) and thought I'd share it with you guys.
Enjoy: http://pcpfinancecalculator.co.uk/CompareFinanceQu...
Any comments/questions/requests/feedback more than welcome.
Phateuk said:
If you guys are anything like me when browsing these offers you have calculator + notepad or excel open to calcualte/compare the costs of these lease deals
Anyway, when I was doing the sums for my m135i lease I created a quick calculator for myself (and a couple of friends) and thought I'd share it with you guys.
Enjoy: http://pcpfinancecalculator.co.uk/CompareFinanceQu...
Any comments/questions/requests/feedback more than welcome.
Anyway, when I was doing the sums for my m135i lease I created a quick calculator for myself (and a couple of friends) and thought I'd share it with you guys.
Enjoy: http://pcpfinancecalculator.co.uk/CompareFinanceQu...
Any comments/questions/requests/feedback more than welcome.
Nice try Phaetuk, but your PCP calculator is not accurate - you are not accounting for the fact that a large lump of the capital is being deferred until the end of the agreement and so the interest is compounded on this.
I can see your calculation: assuming a purchase price of £20,000, deposit £1,000, Balance £19,000 over 48 months with final balloon of £10,000 at 5% flat rate, your calc is as follows:
£19,000 x 5% x 4 (years) = £3,800
£19,000 + £3,800 = £22,800
£22,800 - £10,000 (GMFV) - £12,800
£12,800 / 48 = £266.67
The assumption here is that you are only financing the £12,800, and the loan on the balloon is free. In fact a PCP on the above figures gives a monthly payment of £303.25.
The HP calculation is correct, however.
Regards
Richard
I can see your calculation: assuming a purchase price of £20,000, deposit £1,000, Balance £19,000 over 48 months with final balloon of £10,000 at 5% flat rate, your calc is as follows:
£19,000 x 5% x 4 (years) = £3,800
£19,000 + £3,800 = £22,800
£22,800 - £10,000 (GMFV) - £12,800
£12,800 / 48 = £266.67
The assumption here is that you are only financing the £12,800, and the loan on the balloon is free. In fact a PCP on the above figures gives a monthly payment of £303.25.
The HP calculation is correct, however.
Regards
Richard
Edited by rfoster on Friday 18th July 11:08
ghibbett said:
Not in my neck of the woods it isn't!!!
Fast Bug said:
Not for either of the brands I sell it isn't, both on for their best year in a good while from what I can see
Ford Europe's man was quoted in February as saying all the major manufacturers were scaling back European operations and as such the current lease bonanza where manufacturers are just trying to get as many cars out the door as possible, is set to come to a gradual stop.Gassing Station | Car Buying | Top of Page | What's New | My Stuff