Discussion
looking for advice please - looking at getting a new car for next 2-3 years. Did a costing exercise on what my current shed/track car is costing to run per month - equates to £200/month insurance/tax/fuel. Starting shopping around and found I can get the following:
Citroen C1 1.2 airscape (wife likes it, I don't dislike it)
Lease - 24 months, maintenance included - £137 deposit + 23 x £137 = £3288
When insurance and fuel added, it is just under £200, so not costing more than the shed (and the shed gets to go to track-spec
)
They also do a PCP deal over 3 years at £1769 deposit plus £500 dealer contribution and £99/month = £5843 which equates down to £162/ month effectively.
I don't plan to keep this car, literally hand it back and move on elsewhere in 2 or 3 years time. I've got it in my head that the lease is a good plan, removing the initial deposit required and not expecting a penny at the end, whereas family (armchair expert brother and father-in-law) are convinced I should PCP it so I am actually buying it, and theoretically have something to trade in when I replace it.
Any thought please?
Citroen C1 1.2 airscape (wife likes it, I don't dislike it)
Lease - 24 months, maintenance included - £137 deposit + 23 x £137 = £3288
When insurance and fuel added, it is just under £200, so not costing more than the shed (and the shed gets to go to track-spec
)They also do a PCP deal over 3 years at £1769 deposit plus £500 dealer contribution and £99/month = £5843 which equates down to £162/ month effectively.
I don't plan to keep this car, literally hand it back and move on elsewhere in 2 or 3 years time. I've got it in my head that the lease is a good plan, removing the initial deposit required and not expecting a penny at the end, whereas family (armchair expert brother and father-in-law) are convinced I should PCP it so I am actually buying it, and theoretically have something to trade in when I replace it.
Any thought please?
Have just leased for the first time so my 2p to complicate things. It makes you totally aware of the true cost of motoring. Leasing over a 24 month term all being well is £1500 cheaper than PCP which cancels out any trade in value.
Have you factored in fuel, insurance, servicing and tax in your figures for the PCP? What are the mileage allowances and penalties for both?
Will you not still have the shed costs with the new car?
The great thing about you position is you can be really flexible and get one of the special lease deals that come along. However should your circumstances change you are stuck with it.
Have you factored in fuel, insurance, servicing and tax in your figures for the PCP? What are the mileage allowances and penalties for both?
Will you not still have the shed costs with the new car?
The great thing about you position is you can be really flexible and get one of the special lease deals that come along. However should your circumstances change you are stuck with it.
AlanH1 said:
Have just leased for the first time so my 2p to complicate things. It makes you totally aware of the true cost of motoring. Leasing over a 24 month term all being well is £1500 cheaper than PCP which cancels out any trade in value.
What are the details of the two deals that you are comparing? It seems likely that this is purely a function of the value (or otherwise) of the lease and PCP deals that you have been offered, rather than any comment on the general value of PCP versus leasing.AlanH1 said:
Have you factored in fuel, insurance, servicing and tax in your figures for the PCP? What are the mileage allowances and penalties for both?
Won't fuel and insurance (and possibly servicing) apply to the lease deal too?Assuming this is a private purchase, what is the relevance of tax?
Remember with a lease or even PCP any scratches, little dents etc have to be fixed or will be charged. Also, your mileage may be restricted to 5k on the advertised deals to make them look more attractive.
Saying that I'm half-way through my first lease and will be leasing again when the current one ends. However, I won't be taking out the maintenance plan as the warranty cover is almost Identical and the tyre cover is quite restrictive.
Saying that I'm half-way through my first lease and will be leasing again when the current one ends. However, I won't be taking out the maintenance plan as the warranty cover is almost Identical and the tyre cover is quite restrictive.
russ_a said:
Remember with a lease or even PCP any scratches, little dents etc have to be fixed or will be charged. Also, your mileage may be restricted to 5k on the advertised deals to make them look more attractive.
As I understand it, most lease deals have standard terms and conditions for the condition of the vehicle when it is returned, and these will normally allow for reasonable 'wear and tear'.russ_a said:
Saying that I'm half-way through my first lease and will be leasing again when the current one ends. However, I won't be taking out the maintenance plan as the warranty cover is almost Identical and the tyre cover is quite restrictive.
??What has the warranty got to do with the maintenance plan (other than servicing is a requirement of the warranty)?!
I've read the terms and conditions and not much passes for fear wear and tear.
The Golf I lease doesn't need to be serviced for the first 20k (which was the mileage limit for 24 months) The service is £250 inc Vat, so that's £10.50 a month for the 24 month term.
Most of the items mentioned on the mechanical cover are covered under the warranty.
The Golf I lease doesn't need to be serviced for the first 20k (which was the mileage limit for 24 months) The service is £250 inc Vat, so that's £10.50 a month for the 24 month term.
Most of the items mentioned on the mechanical cover are covered under the warranty.
russ_a said:
I've read the terms and conditions and not much passes for fear wear and tear.
Fair enough - not my area of expertise, but I think on similar threads people have mentioned some quite reasonable 'industry standard' terms for this.russ_a said:
The Golf I lease doesn't need to be serviced for the first 20k (which was the mileage limit for 24 months) The service is £250 inc Vat, so that's £10.50 a month for the 24 month term.
Most of the items mentioned on the mechanical cover are covered under the warranty.
What has that got to do with the maintenance plan?Most of the items mentioned on the mechanical cover are covered under the warranty.
The maintenance plan doesn't just cover services it covers the mechanical parts of the car too. Most of which are covered under the warranty as the car is brand new.
If I had kept to the plans original mileage (20k) I would have not had to service the car or replace the tyres during the lease term. It's looking like I will more than double that and I will get two services and two front tyres. For this I pay £60 a month for 15 months.
If I had kept to the plans original mileage (20k) I would have not had to service the car or replace the tyres during the lease term. It's looking like I will more than double that and I will get two services and two front tyres. For this I pay £60 a month for 15 months.
russ_a said:
The maintenance plan doesn't just cover services it covers the mechanical parts of the car too. Most of which are covered under the warranty as the car is brand new.
If I had kept to the plans original mileage (20k) I would have not had to service the car or replace the tyres during the lease term. It's looking like I will more than double that and I will get two services and two front tyres. For this I pay £60 a month for 15 months.
Ok, thanks. I would have assumed that the cost of the maintenance plan (and the parts included) would be linked to the mileage agreed for the lease.If I had kept to the plans original mileage (20k) I would have not had to service the car or replace the tyres during the lease term. It's looking like I will more than double that and I will get two services and two front tyres. For this I pay £60 a month for 15 months.
sidicks said:
AlanH1 said:
Have just leased for the first time so my 2p to complicate things. It makes you totally aware of the true cost of motoring. Leasing over a 24 month term all being well is £1500 cheaper than PCP which cancels out any trade in value.
What are the details of the two deals that you are comparing? It seems likely that this is purely a function of the value (or otherwise) of the lease and PCP deals that you have been offered, rather than any comment on the general value of PCP versus leasing.AlanH1 said:
Have you factored in fuel, insurance, servicing and tax in your figures for the PCP? What are the mileage allowances and penalties for both?
Won't fuel and insurance (and possibly servicing) apply to the lease deal too?Assuming this is a private purchase, what is the relevance of tax?
The OP had factored fuel, insurance etc in his lease figures. Road tax is normally included on leases.
I struggled with leasing - thought never own the car never mine and its expensive etc.....
Well pen and paper sat down and worked it out. I had two leases a Vectra and then an xtrail over 10 years ago. Got some decent monthly prices on the lease. I worked for a bank and they had a fuel and go offer on they used to own Lombard so there was always good deals on with some models. Plus there was no big payment to pay to start with at the beginning.
Anyways once id worked out a brand new car road tax insurance servicing and breakdown all into one payment and over three years with 20k a year. The figures actually worked out pretty good. Once you factored in depreciation and the like you actually didnt lose anything. However at the end of the lease you handed the car back and you had nothing to show for it. that was the crux. it didnt cost you but it left you with nothing. so it did feel that you had put money away for nothing. Still if it was your car then what you had spent you would have spent anyways and you would have lost that in depreciation and running costs etc. so reality didnt lose and didnt gain and had reliable transport for the three years.
Well pen and paper sat down and worked it out. I had two leases a Vectra and then an xtrail over 10 years ago. Got some decent monthly prices on the lease. I worked for a bank and they had a fuel and go offer on they used to own Lombard so there was always good deals on with some models. Plus there was no big payment to pay to start with at the beginning.
Anyways once id worked out a brand new car road tax insurance servicing and breakdown all into one payment and over three years with 20k a year. The figures actually worked out pretty good. Once you factored in depreciation and the like you actually didnt lose anything. However at the end of the lease you handed the car back and you had nothing to show for it. that was the crux. it didnt cost you but it left you with nothing. so it did feel that you had put money away for nothing. Still if it was your car then what you had spent you would have spent anyways and you would have lost that in depreciation and running costs etc. so reality didnt lose and didnt gain and had reliable transport for the three years.
Magic919 said:
If the road tax is zero, it won't matter whether it's included or not.
Not in 18 months when you come to reconsider, an extra 10 a month then after 1st year. http://www.bbc.co.uk/news/business-33447106
I decided to lease my cars for 24 months at a time, just so that I could experience more interesting cars. If you order far enough in advance and don't over spec, then there are good deals to be had. You'll never own it so you may as well change it regularly and never having to pay for a service is a bonus
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