Best Lease Car Deals Available? (Vol 3)
Discussion
Burwood said:
That is not true at all. I know, I have it all in writing from the horses mouth and ALA who are experts.
1. If there is a total loss, the car and it's value is between your insurer and the financier (VWFS etc). Nothing to do with the lessee. If VWFS don't like the payout, they take it up with your insurer. It is NOT anything for you to worry about.
2. The lease payments are ALL due. So take out a £400X36 deal and write it off on day one. You owe the finance company 14,400 but anything less is up to them to decide.
3. The gap is to cover this 14.4k not any insurance payout shortfall.
Obviously with PCP you own the car so any insurance shortfall is an issue for you
It's either the remainder of the lease or there are early termination fees (which is what my insurance is dealing with now). They're a LOT!1. If there is a total loss, the car and it's value is between your insurer and the financier (VWFS etc). Nothing to do with the lessee. If VWFS don't like the payout, they take it up with your insurer. It is NOT anything for you to worry about.
2. The lease payments are ALL due. So take out a £400X36 deal and write it off on day one. You owe the finance company 14,400 but anything less is up to them to decide.
3. The gap is to cover this 14.4k not any insurance payout shortfall.
Obviously with PCP you own the car so any insurance shortfall is an issue for you
Don't even think about leasing a car without gap. You'd be a total fool. It's not even expensive.
Parisien said:
All Golfs in stock listed below in this search .....
https://www.contracthireandleasing.com/personal/ca...
P
Appreciated. Is that ever lease company though?https://www.contracthireandleasing.com/personal/ca...
P
Dog Star said:
Burwood said:
That is not true at all. I know, I have it all in writing from the horses mouth and ALA who are experts.
1. If there is a total loss, the car and it's value is between your insurer and the financier (VWFS etc). Nothing to do with the lessee. If VWFS don't like the payout, they take it up with your insurer. It is NOT anything for you to worry about.
2. The lease payments are ALL due. So take out a £400X36 deal and write it off on day one. You owe the finance company 14,400 but anything less is up to them to decide.
3. The gap is to cover this 14.4k not any insurance payout shortfall.
Obviously with PCP you own the car so any insurance shortfall is an issue for you
It's either the remainder of the lease or there are early termination fees (which is what my insurance is dealing with now). They're a LOT!1. If there is a total loss, the car and it's value is between your insurer and the financier (VWFS etc). Nothing to do with the lessee. If VWFS don't like the payout, they take it up with your insurer. It is NOT anything for you to worry about.
2. The lease payments are ALL due. So take out a £400X36 deal and write it off on day one. You owe the finance company 14,400 but anything less is up to them to decide.
3. The gap is to cover this 14.4k not any insurance payout shortfall.
Obviously with PCP you own the car so any insurance shortfall is an issue for you
Don't even think about leasing a car without gap. You'd be a total fool. It's not even expensive.
Burwood said:
Dog Star said:
Burwood said:
That is not true at all. I know, I have it all in writing from the horses mouth and ALA who are experts.
1. If there is a total loss, the car and it's value is between your insurer and the financier (VWFS etc). Nothing to do with the lessee. If VWFS don't like the payout, they take it up with your insurer. It is NOT anything for you to worry about.
2. The lease payments are ALL due. So take out a £400X36 deal and write it off on day one. You owe the finance company 14,400 but anything less is up to them to decide.
3. The gap is to cover this 14.4k not any insurance payout shortfall.
Obviously with PCP you own the car so any insurance shortfall is an issue for you
It's either the remainder of the lease or there are early termination fees (which is what my insurance is dealing with now). They're a LOT!1. If there is a total loss, the car and it's value is between your insurer and the financier (VWFS etc). Nothing to do with the lessee. If VWFS don't like the payout, they take it up with your insurer. It is NOT anything for you to worry about.
2. The lease payments are ALL due. So take out a £400X36 deal and write it off on day one. You owe the finance company 14,400 but anything less is up to them to decide.
3. The gap is to cover this 14.4k not any insurance payout shortfall.
Obviously with PCP you own the car so any insurance shortfall is an issue for you
Don't even think about leasing a car without gap. You'd be a total fool. It's not even expensive.
silentbrown said:
burty39 said:
My insurer is Quotemehappy (Aviva) they eventually settled with VWFS at £30,500 which was in the middle of respective valuations.
That's for a four-month old Touareg R? Burwood said:
That is not true at all. I know, I have it all in writing from the horses mouth and ALA who are experts.
1. If there is a total loss, the car and it's value is between your insurer and the financier (VWFS etc). Nothing to do with the lessee. If VWFS don't like the payout, they take it up with your insurer. It is NOT anything for you to worry about.
2. The lease payments are ALL due. So take out a £400X36 deal and write it off on day one. You owe the finance company 14,400 but anything less is up to them to decide.
3. The gap is to cover this 14.4k not any insurance payout shortfall.
although the lease payments are all due, if they take them surely they cant claim the car and the insurance payout as well - otherwise they'd be quids in1. If there is a total loss, the car and it's value is between your insurer and the financier (VWFS etc). Nothing to do with the lessee. If VWFS don't like the payout, they take it up with your insurer. It is NOT anything for you to worry about.
2. The lease payments are ALL due. So take out a £400X36 deal and write it off on day one. You owe the finance company 14,400 but anything less is up to them to decide.
3. The gap is to cover this 14.4k not any insurance payout shortfall.
Casa1862 said:
Burwood said:
Dog Star said:
Burwood said:
That is not true at all. I know, I have it all in writing from the horses mouth and ALA who are experts.
1. If there is a total loss, the car and it's value is between your insurer and the financier (VWFS etc). Nothing to do with the lessee. If VWFS don't like the payout, they take it up with your insurer. It is NOT anything for you to worry about.
2. The lease payments are ALL due. So take out a £400X36 deal and write it off on day one. You owe the finance company 14,400 but anything less is up to them to decide.
3. The gap is to cover this 14.4k not any insurance payout shortfall.
Obviously with PCP you own the car so any insurance shortfall is an issue for you
It's either the remainder of the lease or there are early termination fees (which is what my insurance is dealing with now). They're a LOT!1. If there is a total loss, the car and it's value is between your insurer and the financier (VWFS etc). Nothing to do with the lessee. If VWFS don't like the payout, they take it up with your insurer. It is NOT anything for you to worry about.
2. The lease payments are ALL due. So take out a £400X36 deal and write it off on day one. You owe the finance company 14,400 but anything less is up to them to decide.
3. The gap is to cover this 14.4k not any insurance payout shortfall.
Obviously with PCP you own the car so any insurance shortfall is an issue for you
Don't even think about leasing a car without gap. You'd be a total fool. It's not even expensive.
saaby93 said:
lthough the lease payments are all due, if they take them surely they cant claim the car and the insurance payout as well - otherwise they'd be quids in
I suspect that they might have difficulty enforcing those terms against a private customer - they get the value of a new car, plus the lease payments (whereas they were expecting to get a two year old car back) - but that is what the contract says.Note that they don't get the car itself - because that is written off and title goes to the insurer. (Otherwise the car would just be repaired and would stay with the lessee).
While I'd have a go at defending a claim for the full lease value if one were brought against me and I didn't have gap insurance, gap insurance is so relatively cheap that it simply isn't worth my while.
Guys, I've noticed a number of posters stating they'd received mail shots of special offers from a number of companies/brokers, is it simply a case of subscribing to these companies or had you to be a previous customer etc?
I'll be in the market for an Audi A3 in the coming weeks and it would be great to get the heads up early or have with a greater choice base.
Thanks
P
I'll be in the market for an Audi A3 in the coming weeks and it would be great to get the heads up early or have with a greater choice base.
Thanks
P
Edited by Parisien on Sunday 4th December 14:44
pdavison said:
I went for 3+23 but worked out about the same over the term
Very nice that. Weird as I have no real affection for the B class in any other guise than EV! Similar to the Kia soul I've signed up for. I'd never consider such a car but stick an EV power train in there and I want one. I think I've been converted.
Parisien said:
Guys, I've noticed a number of posters stating they'd received mailed shots of special offers from a number of companies/brokers, is it simply a case of subscribing to these companies or had you to be a previous customer etc?
I'll be in the market for an Audi A3 in the coming weeks and it would be great to get the heads up early or have with a greater choice base.
Thanks
P
Same here. About to change to my 1st job as a contractor so will go about leasing my cars rather than buying outright. Looking for a nice AMG trim Mercedes C/E.I'll be in the market for an Audi A3 in the coming weeks and it would be great to get the heads up early or have with a greater choice base.
Thanks
P
rajan2004 said:
If a car is written off and your insurance pays the lease company the value of it (or thereabouts) then why don't the lease company provide you with a replacement car for as long as you make your regular payments?
Thread derail but a valid question. Here is why. T he financier is NOT a car dealer, they lend money on a once new car based on criteria they know on the day they offer/accept the deal. The lessee is free to look for the same deal again and many do but there is absolutely no roll over into another car. As of right or option How can they source used cars, what if they can't get new cars on the same cash flows. Burwood said:
rajan2004 said:
If a car is written off and your insurance pays the lease company the value of it (or thereabouts) then why don't the lease company provide you with a replacement car for as long as you make your regular payments?
Thread derail but a valid question. Here is why. T he financier is NOT a car dealer, they lend money on a once new car based on criteria they know on the day they offer/accept the deal. The lessee is free to look for the same deal again and many do but there is absolutely no roll over into another car. As of right or option How can they source used cars, what if they can't get new cars on the same cash flows. The insurer doesnt offer a lower rate just because its a lease car
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