Best lease car deals available?
Discussion
va1o said:
Think this might have been asked before, but can anyone comment on how having a lease deal would impact a mortgage application? Since its not technically a straightforward loan but obviously it is a fixed outgoing expense.
Just trying to do the maths for whether you'd be better of with a higher mortgage deposit but tied into a car lease deal, or paying cash for a used car which lowers the available mortgage deposit fund but means no outgoing leasing payment.
They will take it as a fixed outgoing, and then deduct it from what your take home is before then multiplying the salary to get the max borrowing.Just trying to do the maths for whether you'd be better of with a higher mortgage deposit but tied into a car lease deal, or paying cash for a used car which lowers the available mortgage deposit fund but means no outgoing leasing payment.
Yes, it directly effects the outcome. We've always told the mortgage company we have X, but it will be sold and paid off shortly. Tends to be noted but not factored in.
va1o said:
Think this might have been asked before, but can anyone comment on how having a lease deal would impact a mortgage application? Since its not technically a straightforward loan but obviously it is a fixed outgoing expense.
Just trying to do the maths for whether you'd be better of with a higher mortgage deposit but tied into a car lease deal, or paying cash for a used car which lowers the available mortgage deposit fund but means no outgoing leasing payment.
Not sure about a lease but a PCP I had knackered a mortgage application because they took into account the full value of what was outstanding including the balloon as I was still effectively liable for it, even though the remaining monthly payments up to the balloon being due were both relatively small (in the scheme of things) and affordable.Just trying to do the maths for whether you'd be better of with a higher mortgage deposit but tied into a car lease deal, or paying cash for a used car which lowers the available mortgage deposit fund but means no outgoing leasing payment.
House always takes priority over car!
I'm after a Focus ST or similar
http://www.lingscars.com/Ford/Focus_ST/2040920-2.0...
This seems really good value if you can stomach the car in red
3+23 @ £267 pcm, 10k pa, non-metallic, personal
And this
http://www.gateway2lease.com/z_ford_focus_2.0t250b...
6+23 @ £216 pcm, 10k pa, metallic, personal
Are there any better deals out there than this?
Or similar cars I should be looking at?
Maybe:
Octavia VRS?
http://www.lingscars.com/Ford/Focus_ST/2040920-2.0...
This seems really good value if you can stomach the car in red
3+23 @ £267 pcm, 10k pa, non-metallic, personal
And this
http://www.gateway2lease.com/z_ford_focus_2.0t250b...
6+23 @ £216 pcm, 10k pa, metallic, personal
Are there any better deals out there than this?
Or similar cars I should be looking at?
Maybe:
Octavia VRS?
Edited by stem on Saturday 6th September 11:52
furtive said:
This looks like a good deal to my uninformed eyes:
http://www.nationalvehiclesolutions.co.uk/Audi-S3-...
you'd have the golf R instead though surelyhttp://www.nationalvehiclesolutions.co.uk/Audi-S3-...
va1o said:
Think this might have been asked before, but can anyone comment on how having a lease deal would impact a mortgage application? Since its not technically a straightforward loan but obviously it is a fixed outgoing expense.
Just trying to do the maths for whether you'd be better of with a higher mortgage deposit but tied into a car lease deal, or paying cash for a used car which lowers the available mortgage deposit fund but means no outgoing leasing payment.
A lease will be better than a PCP because it's just a rental agreement, not a purchase agreement.Just trying to do the maths for whether you'd be better of with a higher mortgage deposit but tied into a car lease deal, or paying cash for a used car which lowers the available mortgage deposit fund but means no outgoing leasing payment.
If you purchasing a car, the balance of the car would be on your finance record because it's saying you have to pay that amount off. As there is no ownership of the lease, the credit is harder to find. It's the same as having a mobile fine contract.
Urban Sports said:
Pazuzu said:
Just an update on the Tilsun deal for the 330d posted AGES back. I ordered on 4th July and was told delivery 26th September.
Added the Sport+ pack in August but have been told there are no updates to that date more than once but asked them to call the dealer today to check and it's now November
That's fairly vague as well as I haven't got a fixed build week.
Not sure I would have gone ahead if quoted a 4-5 month lead time.
P.
Ouch!Added the Sport+ pack in August but have been told there are no updates to that date more than once but asked them to call the dealer today to check and it's now November
That's fairly vague as well as I haven't got a fixed build week.Not sure I would have gone ahead if quoted a 4-5 month lead time.
P.
Out of interest how much is it with the sport+ pack?
Seems OK but they pretty much charge you for the whole Sport+ pack (£1900) over the term. It was £333.10 standard with maintenance.
Cheers,
Phil
Buzz Lightyear said:
A lease will be better than a PCP because it's just a rental agreement, not a purchase agreement.
If you purchasing a car, the balance of the car would be on your finance record because it's saying you have to pay that amount off. As there is no ownership of the lease, the credit is harder to find. It's the same as having a mobile fine contract.
But they ask you what are your monthly commitments and take 6 months worth of bank a/c statements. So it will be visible. Only way round it is to delay car until after mortgage /buy a £1k car for that period then elect to progress with the mortgage accordingly. If you purchasing a car, the balance of the car would be on your finance record because it's saying you have to pay that amount off. As there is no ownership of the lease, the credit is harder to find. It's the same as having a mobile fine contract.
Some banks don't look at monthly out goings in too much detail so PCH you may get away with others you will not as its very much about affordability. Were seeing more and more people who are simply remortgaging to secure a better deal or fix yet they are being offered less mortgage then they have outstanding ... So clearly they can manage and have managed for x years but "computer says no". Its still early days 1/4/14 rules changed but its a consideration.
Got to think about all those young chaps and chappets living at home with Mummy and daddy with a plush car rude awakening come house buying time.
Tilsun Leasing doing Mercedes E220 AMG Estate for £316 per month on a 6+23 deal. Probably the best E Class Estate deal that I've seen.
http://www.tilsungroup.com/mercedes-e+class-e220-b...
http://www.tilsungroup.com/mercedes-e+class-e220-b...
mcbook said:
Tilsun Leasing doing Mercedes E220 AMG Estate for £316 per month on a 6+23 deal. Probably the best E Class Estate deal that I've seen.
http://www.tilsungroup.com/mercedes-e+class-e220-b...
Looks an exceptional deal!http://www.tilsungroup.com/mercedes-e+class-e220-b...
mcbook said:
ED209 said:
Looks an exceptional deal!
Vehicle Savers have the save deal but for the Premium Plus spec level which includes nav, panoramic sunroof etc. I'm very tempted on this one... Only thing putting me off the the engine which is apparently a bit rough. ED209 said:
I wish i hade the kahunas to flog my car and use the equity to get something like this, i probably have about 4 years worth of top notch car lease payments tied up in the Vrs.
Suppose the important figure is the £9,100 that the Merc will cost over two years. That is gone, never to be seen again. It's a good deal for a new car but still a lot of money. Alternatively, use that cash to buy a nice e46 M3 and lose only pennies in a couple of years. Horses for courses.mcbook said:
Suppose the important figure is the £9,100 that the Merc will cost over two years. That is gone, never to be seen again. It's a good deal for a new car but still a lot of money. Alternatively, use that cash to buy a nice e46 M3 and lose only pennies in a couple of years. Horses for courses.
You'll get flamed for such posts on this thread but that's a PH cracking idea one of the best M carsUnlight said:
Anything decent on the Mercedes A Class A200 AMG Sport at the minute?
Seemed to be around £240 a month or so ago.
You can get an auto version pretty cheap at the moment. 6+ 23 £232, 3 + 23 £259Seemed to be around £240 a month or so ago.
http://www.nationwidevehiclecontracts.co.uk/Merced...
bazza white said:
Always surprises me how cheap these are. Should be a fun little pocket rocket! Gassing Station | Car Buying | Top of Page | What's New | My Stuff