Discussion
andrewparker said:
audidoody said:
Lease over three years - £30,000 car = £3,000 deposit + 35 monthly payments of circa £400 a month = outlay circa £17,400
Eh?! I'd imagine most people are paying circa £8k for their 2 year leases on a Golf R, so nothing like those sort of payments.HarryW said:
andrewparker said:
audidoody said:
Lease over three years - £30,000 car = £3,000 deposit + 35 monthly payments of circa £400 a month = outlay circa £17,400
Eh?! I'd imagine most people are paying circa £8k for their 2 year leases on a Golf R, so nothing like those sort of payments.audidoody said:
HP over three years - £30,000 car = £3,000 deposit + 36 monthly payments of circa £800 a month. Own asset worth circa £12,000. Outlay = £19,800
Lease over three years - £30,000 car = £3,000 deposit + 35 monthly payments of circa £400 a month = outlay circa £17,400
Give or take ...
Exactly! Doubles your car value entry level but at twice the real cost! Meantime you have to also save up for your next lease deposit...Lease over three years - £30,000 car = £3,000 deposit + 35 monthly payments of circa £400 a month = outlay circa £17,400
Give or take ...
andrewparker said:
I'll say it again, no-one is paying anywhere near those figures for a lease. Mine is probably one of the more expensive deals and I paid an initial payment of £860, with monthlies of £286.
To be fair if that gets you into a brand new c£32k Golf R for just over 300 a month all in for 3 years I can see the attraction. A typical loan repayment would be £950pm over 3 years. Its still more heart than head though - which is fine!Interesting thread as I'm in a real fix. I really don't know what to do. I have a Navara truck that is 5 years old and has cost me a fair chunk in depreciation and repair costs. So the man maths calculator starts and I'm wondering if PCP would actually be better - my reasoning is that although I am buying 5 year old cars around 60,000 miles they all seem to go wrong in some way by 85,000 and they still depreciate.
I have being thinking about a Golf R DSG with nav and upgraded hifi and phone prep. Been offered a basic car (no options) for £28K. Loads of pre registered seem to be sitting on forecourts but not seen any offers on these.
Then I'm seeing some of the deals above and I'm wondering if PCP is better.
Basically I want a car that isn't going to be a hassle for the lowest cost over 3 years.
What deal could I expect to get?
I have being thinking about a Golf R DSG with nav and upgraded hifi and phone prep. Been offered a basic car (no options) for £28K. Loads of pre registered seem to be sitting on forecourts but not seen any offers on these.
Then I'm seeing some of the deals above and I'm wondering if PCP is better.
Basically I want a car that isn't going to be a hassle for the lowest cost over 3 years.
What deal could I expect to get?
Innowaybored said:
Interesting thread as I'm in a real fix. I really don't know what to do. I have a Navara truck that is 5 years old and has cost me a fair chunk in depreciation and repair costs. So the man maths calculator starts and I'm wondering if PCP would actually be better - my reasoning is that although I am buying 5 year old cars around 60,000 miles they all seem to go wrong in some way by 85,000 and they still depreciate.
I have being thinking about a Golf R DSG with nav and upgraded hifi and phone prep. Been offered a basic car (no options) for £28K. Loads of pre registered seem to be sitting on forecourts but not seen any offers on these.
Then I'm seeing some of the deals above and I'm wondering if PCP is better.
Basically I want a car that isn't going to be a hassle for the lowest cost over 3 years.
What deal could I expect to get?
I was in the same situation as you but not with such high milage and costs. I just wanted a bigger car with 5 doors that went a bit faster than my fiesta. I have being thinking about a Golf R DSG with nav and upgraded hifi and phone prep. Been offered a basic car (no options) for £28K. Loads of pre registered seem to be sitting on forecourts but not seen any offers on these.
Then I'm seeing some of the deals above and I'm wondering if PCP is better.
Basically I want a car that isn't going to be a hassle for the lowest cost over 3 years.
What deal could I expect to get?
My choices were down to an A3 1.8 S-Tronic, Golf R, M135i and a A45 AMG.
The M135i is currently the better deal - you can get them for £189 from CVL I think - manual.
In my case I ordered a Golf R in Jan. Got 20% off and expecting delivery in the next 2 weeks. I added a few options and it worked out a bit cheaper to have it on a PCP than on lease. My deal is over 4 years as thats when I hope to expect to change car next.
By doing a PCP it also means that a manufacturer is likely to put you in a new car after 3.5 years for next to no cost therefore keeping you with worry free motoring. On a lease you'd be looking to save the next initial rental over the term of the agreement.
If it was me I would not buy an ex lease car.
Just about to hand in my manual golf R after two year and it’s been treated like a rental.
Wash: Car wash, eastern European car wash that's when I could be bothered washing it.
Has lots of swirls in the paint.
Has a dent on a few panels which is allowed on lease.
Used it as a van for b&q chucking wood in the back ha-ha.
Ragged the life out of it and basically had no mechanical sympathy.
It’s all washed ready for pickup and looks nice, gave it a coat of polish to hide some swirls.
Never but an ex lease car, they are treated as rentals.
Guy at work has a dsg version and he has treated his like rubbish also.
Just about to hand in my manual golf R after two year and it’s been treated like a rental.
Wash: Car wash, eastern European car wash that's when I could be bothered washing it.
Has lots of swirls in the paint.
Has a dent on a few panels which is allowed on lease.
Used it as a van for b&q chucking wood in the back ha-ha.
Ragged the life out of it and basically had no mechanical sympathy.
It’s all washed ready for pickup and looks nice, gave it a coat of polish to hide some swirls.
Never but an ex lease car, they are treated as rentals.
Guy at work has a dsg version and he has treated his like rubbish also.
GordonS said:
If it was me I would not buy an ex lease car.
Just about to hand in my manual golf R after two year and it’s been treated like a rental.
Wash: Car wash, eastern European car wash that's when I could be bothered washing it.
Has lots of swirls in the paint.
Has a dent on a few panels which is allowed on lease.
Used it as a van for b&q chucking wood in the back ha-ha.
Ragged the life out of it and basically had no mechanical sympathy.
It’s all washed ready for pickup and looks nice, gave it a coat of polish to hide some swirls.
Never but an ex lease car, they are treated as rentals.
Guy at work has a dsg version and he has treated his like rubbish also.
It was a rental.Just about to hand in my manual golf R after two year and it’s been treated like a rental.
Wash: Car wash, eastern European car wash that's when I could be bothered washing it.
Has lots of swirls in the paint.
Has a dent on a few panels which is allowed on lease.
Used it as a van for b&q chucking wood in the back ha-ha.
Ragged the life out of it and basically had no mechanical sympathy.
It’s all washed ready for pickup and looks nice, gave it a coat of polish to hide some swirls.
Never but an ex lease car, they are treated as rentals.
Guy at work has a dsg version and he has treated his like rubbish also.
GordonS said:
If it was me I would not buy an ex lease car.
Just about to hand in my manual golf R after two year and it’s been treated like a rental.
Wash: Car wash, eastern European car wash that's when I could be bothered washing it.
Has lots of swirls in the paint.
Has a dent on a few panels which is allowed on lease.
Used it as a van for b&q chucking wood in the back ha-ha.
Ragged the life out of it and basically had no mechanical sympathy.
It’s all washed ready for pickup and looks nice, gave it a coat of polish to hide some swirls.
Never but an ex lease car, they are treated as rentals.
Guy at work has a dsg version and he has treated his like rubbish also.
I know that the above quote represents how a high percentage of lease cars are treated, so the 'don't buy a lease car' advice is probably true enough... it's certainly a big gamble!! However as my car is leased, I thought I'd give another perspective.Just about to hand in my manual golf R after two year and it’s been treated like a rental.
Wash: Car wash, eastern European car wash that's when I could be bothered washing it.
Has lots of swirls in the paint.
Has a dent on a few panels which is allowed on lease.
Used it as a van for b&q chucking wood in the back ha-ha.
Ragged the life out of it and basically had no mechanical sympathy.
It’s all washed ready for pickup and looks nice, gave it a coat of polish to hide some swirls.
Never but an ex lease car, they are treated as rentals.
Guy at work has a dsg version and he has treated his like rubbish also.
- As with my own cars, the R gets warmed up to ~80c oil temperature before it's shown any real boost, after all, if it breaks then I'll be paying my monthly payment to drive a VW Up! or some other non-R while mine is being repaired.
- I polish/wax mine at regular intervals because I can find the odd hour or two in my life every couple of weeks or so to make sure my car looks decent and presentable.
- It's used for daily duties but if it gets dog hair/mud/crap on the inside... it's cleaned out rather than left to look untidy and stick to my clothes/shoes.
I like getting the most for my money, but lease or not, I don't understand how people find it acceptable to roll around in a swirly/dirty POS for two years?!
Cheers,
Grant
Broccers said:
GordonS said:
If it was me I would not buy an ex lease car.
Just about to hand in my manual golf R after two year and it’s been treated like a rental.
Wash: Car wash, eastern European car wash that's when I could be bothered washing it.
Has lots of swirls in the paint.
Has a dent on a few panels which is allowed on lease.
Used it as a van for b&q chucking wood in the back ha-ha.
Ragged the life out of it and basically had no mechanical sympathy.
It’s all washed ready for pickup and looks nice, gave it a coat of polish to hide some swirls.
Never but an ex lease car, they are treated as rentals.
Guy at work has a dsg version and he has treated his like rubbish also.
It was a rental.Just about to hand in my manual golf R after two year and it’s been treated like a rental.
Wash: Car wash, eastern European car wash that's when I could be bothered washing it.
Has lots of swirls in the paint.
Has a dent on a few panels which is allowed on lease.
Used it as a van for b&q chucking wood in the back ha-ha.
Ragged the life out of it and basically had no mechanical sympathy.
It’s all washed ready for pickup and looks nice, gave it a coat of polish to hide some swirls.
Never but an ex lease car, they are treated as rentals.
Guy at work has a dsg version and he has treated his like rubbish also.
RS Grant said:
GordonS said:
If it was me I would not buy an ex lease car.
Just about to hand in my manual golf R after two year and it’s been treated like a rental.
Wash: Car wash, eastern European car wash that's when I could be bothered washing it.
Has lots of swirls in the paint.
Has a dent on a few panels which is allowed on lease.
Used it as a van for b&q chucking wood in the back ha-ha.
Ragged the life out of it and basically had no mechanical sympathy.
It’s all washed ready for pickup and looks nice, gave it a coat of polish to hide some swirls.
Never but an ex lease car, they are treated as rentals.
Guy at work has a dsg version and he has treated his like rubbish also.
I know that the above quote represents how a high percentage of lease cars are treated, so the 'don't buy a lease car' advice is probably true enough... it's certainly a big gamble!! However as my car is leased, I thought I'd give another perspective.Just about to hand in my manual golf R after two year and it’s been treated like a rental.
Wash: Car wash, eastern European car wash that's when I could be bothered washing it.
Has lots of swirls in the paint.
Has a dent on a few panels which is allowed on lease.
Used it as a van for b&q chucking wood in the back ha-ha.
Ragged the life out of it and basically had no mechanical sympathy.
It’s all washed ready for pickup and looks nice, gave it a coat of polish to hide some swirls.
Never but an ex lease car, they are treated as rentals.
Guy at work has a dsg version and he has treated his like rubbish also.
- As with my own cars, the R gets warmed up to ~80c oil temperature before it's shown any real boost, after all, if it breaks then I'll be paying my monthly payment to drive a VW Up! or some other non-R while mine is being repaired.
- I polish/wax mine at regular intervals because I can find the odd hour or two in my life every couple of weeks or so to make sure my car looks decent and presentable.
- It's used for daily duties but if it gets dog hair/mud/crap on the inside... it's cleaned out rather than left to look untidy and stick to my clothes/shoes.
I like getting the most for my money, but lease or not, I don't understand how people find it acceptable to roll around in a swirly/dirty POS for two years?!
Cheers,
Grant
If you were to buy a car outright, you're more than likely paying for its depreciation in the first two/three years anyway, and hence you've still paid the same as you would have to lease it; only with this option you're still liable for a depreciating asset after such period.
Apart from which, most people don't hold onto their car for more than two/three years anyway, regardless of how it's funded, so I'm at a loss as to why you'd brandish your car thus, simply because you know you're handing it back from day one.
I've leased cars, bought cars and PCP'd cars. Why would you treat them any differently?
Just a complete random post
I have 2 months and 2000 of 20,000 miles left on my lease.
The car is 2014, 3 Door Lapiz with DSG, DRC, Winter Park and Camera
I have spent £9400 to date and the lease company just offered to sell me the car now for £22k
So that`s a total cost of 31k which is the original OTR cost before options...
I have 2 months and 2000 of 20,000 miles left on my lease.
The car is 2014, 3 Door Lapiz with DSG, DRC, Winter Park and Camera
I have spent £9400 to date and the lease company just offered to sell me the car now for £22k
So that`s a total cost of 31k which is the original OTR cost before options...
MrDan said:
I have spent £9400 to date and the lease company just offered to sell me the car now for £22k
So that`s a total cost of 31k which is the original OTR cost before options...
And also, before discount... An similar spec brand new one should cost under £30K. So that`s a total cost of 31k which is the original OTR cost before options...
Are you considering keeping it? What's WBAC say for a valuation?
Pennyroyal Tea said:
I find it odd that someone could feel different about their car simply by how it's paid for
If you were to buy a car outright, you're more than likely paying for its depreciation in the first two/three years anyway, and hence you've still paid the same as you would have to lease it; only with this option you're still liable for a depreciating asset after such period.
Apart from which, most people don't hold onto their car for more than two/three years anyway, regardless of how it's funded, so I'm at a loss as to why you'd brandish your car thus, simply because you know you're handing it back from day one.
I've leased cars, bought cars and PCP'd cars. Why would you treat them any differently?
Seems obvious to me- if you buy a car outright it's clearly your property and you don't really know when you will be selling it on. If you are leasing or buying on PCP with the intention of giving it back come balloon payment time, then you are essentially just renting it as you know at date x/y/z you will be handing it back. People generally tend to treat their own possessions better than rented stuff and so if you buy an ex-lease/PCP, you have an increased chance that someone mistreated the car mechanically.If you were to buy a car outright, you're more than likely paying for its depreciation in the first two/three years anyway, and hence you've still paid the same as you would have to lease it; only with this option you're still liable for a depreciating asset after such period.
Apart from which, most people don't hold onto their car for more than two/three years anyway, regardless of how it's funded, so I'm at a loss as to why you'd brandish your car thus, simply because you know you're handing it back from day one.
I've leased cars, bought cars and PCP'd cars. Why would you treat them any differently?
As for 'most people' not holding onto their car for more than two or three years, I don't believe that's yet the case and the trend for more people changing every 2/3 years has come from the increasing use of PCH/PCP which works by incentivising you to keep changing.
People don't seem to understand that they pay for depreciation one way or the other and continual PCH/PCP deals just leave you permanently funding max levels of depreciation without ever really owning the car outright.
I wouldn't rule out a lease if I knew at the outset that I would only want the car for 2 years but so far that's never been the case for me and I prefer to buy and hold until such time as I feel the need to change - which so far has been between 5 to 8 years on previous motors (both new and secondhand purchases). My intention is to keep my current car (which I bought new) until it's at least 5 years old.
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