Discussion
Mrs stevieb is looking for a car. She has a seat Leon FR in mind. The ca will be her primary transport with kiddies taxi, hopping and travelling around for her job (self employed).
S far we have seen some 5 year old ones for around 7500, right colour spec etc. But have been reading of some horror stories with the VaG DSG box. Expensive to repair or in some cases a complete replacement is required.
She is happy keeping the car for 3 years or so. It got me thinking of leasing.
I can lease a new seat Leon fr for 229 inc vat per month. Over the 3 years this works out to be 8750. It's slight more than buying used, but it will be under warranty, no MOTs required and should have cheaper servicing when compared to a high miler used car.
The used Leon will be worth next to nothing when 8/9 years old. What would the PHers do? Overall the lease car is Slightly more expensive. New v old reliability, servicing costs etc
Either way she is not to bothered, but do I sink 8000 (savings) into a used car or go lease
Lease or buy
S far we have seen some 5 year old ones for around 7500, right colour spec etc. But have been reading of some horror stories with the VaG DSG box. Expensive to repair or in some cases a complete replacement is required.
She is happy keeping the car for 3 years or so. It got me thinking of leasing.
I can lease a new seat Leon fr for 229 inc vat per month. Over the 3 years this works out to be 8750. It's slight more than buying used, but it will be under warranty, no MOTs required and should have cheaper servicing when compared to a high miler used car.
The used Leon will be worth next to nothing when 8/9 years old. What would the PHers do? Overall the lease car is Slightly more expensive. New v old reliability, servicing costs etc
Either way she is not to bothered, but do I sink 8000 (savings) into a used car or go lease
Lease or buy
So no deposit with that lease deal??
If not it's £1,250 more vs the older car.
The older car might be worth £1-2k but servicing will be more plus MOT plus of course no warranty.
Honestly given the numbers you have chosen I'd say go for new. Plus you nay be able to negotiate a further discount??
If you kept the older car for any more time then things would swing into 2nd hand car would be notably cheaper.
Ideally what should happen is you buy a pre reg car run it for 3-4 years keep it in top condition then give it to her after 3-4 years then you buy another pre reg keep it for 3-4 years so hers will be 6-8 years old at that point it may be sensible to get rid before it needs money spending on it or run or a year or two longer and you run yours that same duration longer. Then buy new again.
That's ideal world. That is what I am trying to do.
If not it's £1,250 more vs the older car.
The older car might be worth £1-2k but servicing will be more plus MOT plus of course no warranty.
Honestly given the numbers you have chosen I'd say go for new. Plus you nay be able to negotiate a further discount??
If you kept the older car for any more time then things would swing into 2nd hand car would be notably cheaper.
Ideally what should happen is you buy a pre reg car run it for 3-4 years keep it in top condition then give it to her after 3-4 years then you buy another pre reg keep it for 3-4 years so hers will be 6-8 years old at that point it may be sensible to get rid before it needs money spending on it or run or a year or two longer and you run yours that same duration longer. Then buy new again.
That's ideal world. That is what I am trying to do.
A chap I work with always leases his and his wife's cars. They always get dull citroens and neither of them care much for cars. A petrolhead I think would not lease a car as it's not yours and you can't change anything on the car e.g. sportier tyres! So as long as you don't want to tinker with the car leasing is an ok option.
christofmccracke said:
heres the thing, how often do you "own" a car ie paying no finance on it. if you never plan on paying of all the finance then you may aswell lease
Very true. Unless your buying at the bottom end of the Market this is what most are doing.
Keeping a car long term is where it makes a lot of sense to buy not lease.
Of course if you want a sportier model than you can afford to buy new then you buy older car.
I think leasing is a scary prospect to most people as it really shows what the true depreciation is so most car owners don't take that true hit till they sell or part x
Leasing is usually cheap if you don't do many miles, but the price rockets for a high mileage driver on a personal lease.
I hear that this is why there are now so many 'businesses' offering to 'correct' the mileage.
Many high mileage lease cars have been wound back before each service is due to give the impression of being low mileage, and is virtually undetectable.
I hear that this is why there are now so many 'businesses' offering to 'correct' the mileage.
Many high mileage lease cars have been wound back before each service is due to give the impression of being low mileage, and is virtually undetectable.
shuvitupya said:
Leasing is usually cheap if you don't do many miles, but the price rockets for a high mileage driver on a personal lease.
I hear that this is why there are now so many 'businesses' offering to 'correct' the mileage.
Many high mileage lease cars have been wound back before each service is due to give the impression of being low mileage, and is virtually undetectable.
That is fraud. I cannot imagine Joe bloggs would even contemplate this nor the high milage business users why risk ruining their careers??? I hear that this is why there are now so many 'businesses' offering to 'correct' the mileage.
Many high mileage lease cars have been wound back before each service is due to give the impression of being low mileage, and is virtually undetectable.
Welshbeef said:
shuvitupya said:
Leasing is usually cheap if you don't do many miles, but the price rockets for a high mileage driver on a personal lease.
I hear that this is why there are now so many 'businesses' offering to 'correct' the mileage.
Many high mileage lease cars have been wound back before each service is due to give the impression of being low mileage, and is virtually undetectable.
That is fraud. I cannot imagine Joe bloggs would even contemplate this nor the high milage business users why risk ruining their careers??? I hear that this is why there are now so many 'businesses' offering to 'correct' the mileage.
Many high mileage lease cars have been wound back before each service is due to give the impression of being low mileage, and is virtually undetectable.
Can you please send me your bank account and sort code as you've won a cash prize and I need to deposit it into your account asap.
Welshbeef said:
That is fraud. I cannot imagine Joe bloggs would even contemplate this nor the high milage business users why risk ruining their careers???
£100 or so three times to a man that asks no questions. v
Potential £x000s in extra lease or servicing costs?
Lots of people wouldn't view the above as fraud, few would ever be caught as the car will have been moved from them to an agent, then an auction and probably car dealer before anyone investigates it fully. By the point any clocking is discovered how can anyone prove when the miles were shaved?
I don't buy new cars I would require genuine milage else those who choose to hair cut milage are causing me and other pheaders higher maintence costs that should be the norm for the milage shown.
It's the next user who is getting bent over.
Makes me think I should buy new only then pass that onto the wife after I have finished using it then buy another new one to cut out any risk of the milage haircut.
It's the next user who is getting bent over.
Makes me think I should buy new only then pass that onto the wife after I have finished using it then buy another new one to cut out any risk of the milage haircut.
dvs_dave said:
Do you really think that???
Can you please send me your bank account and sort code as you've won a cash prize and I need to deposit it into your account asap.
Yes. Can you please send me your bank account and sort code as you've won a cash prize and I need to deposit it into your account asap.
It's possibly giving future owners much higher costs than should be the case why is that fair?
At the end of the day it is fraud/theft seems thats water off a ducks back from your response??? You admitting to participating in milage correction and not telling the person buying the car that you have breached your contract so the asset is worth less.
Ok this has gone a bit off track a little.
I have worked out that the lease car over the 3 years is £2000 more. During this time i would have slightly higher maintainence costs on the older car + some repairs.
I have taken into account the part-ex value of the car 3 years down the line.
The car will be covering 6k k miles per year Max.
I have worked out that the lease car over the 3 years is £2000 more. During this time i would have slightly higher maintainence costs on the older car + some repairs.
I have taken into account the part-ex value of the car 3 years down the line.
The car will be covering 6k k miles per year Max.
stevieb said:
Ok this has gone a bit off track a little.
I have worked out that the lease car over the 3 years is £2000 more. During this time i would have slightly higher maintainence costs on the older car + some repairs.
I have taken into account the part-ex value of the car 3 years down the line.
The car will be covering 6k k miles per year Max.
So £56pcm more but that includes a proper warranty and roadside recovery plus no MOT plus no worries about additional maintenceI have worked out that the lease car over the 3 years is £2000 more. During this time i would have slightly higher maintainence costs on the older car + some repairs.
I have taken into account the part-ex value of the car 3 years down the line.
The car will be covering 6k k miles per year Max.
I think you've answered it. A slight premium but hardly anything in it.
Welshbeef said:
stevieb said:
Ok this has gone a bit off track a little.
I have worked out that the lease car over the 3 years is £2000 more. During this time i would have slightly higher maintainence costs on the older car + some repairs.
I have taken into account the part-ex value of the car 3 years down the line.
The car will be covering 6k k miles per year Max.
So £56pcm more but that includes a proper warranty and roadside recovery plus no MOT plus no worries about additional maintenceI have worked out that the lease car over the 3 years is £2000 more. During this time i would have slightly higher maintainence costs on the older car + some repairs.
I have taken into account the part-ex value of the car 3 years down the line.
The car will be covering 6k k miles per year Max.
I think you've answered it. A slight premium but hardly anything in it.
shuvitupya said:
Leasing is usually cheap if you don't do many miles, but the price rockets for a high mileage driver on a personal lease.
I hear that this is why there are now so many 'businesses' offering to 'correct' the mileage.
Many high mileage lease cars have been wound back before each service is due to give the impression of being low mileage, and is virtually undetectable.
You read the Daily Mail don't you?I hear that this is why there are now so many 'businesses' offering to 'correct' the mileage.
Many high mileage lease cars have been wound back before each service is due to give the impression of being low mileage, and is virtually undetectable.
Welshbeef said:
dvs_dave said:
Do you really think that???
Can you please send me your bank account and sort code as you've won a cash prize and I need to deposit it into your account asap.
Yes. Can you please send me your bank account and sort code as you've won a cash prize and I need to deposit it into your account asap.
It's possibly giving future owners much higher costs than should be the case why is that fair?
At the end of the day it is fraud/theft seems thats water off a ducks back from your response??? You admitting to participating in milage correction and not telling the person buying the car that you have breached your contract so the asset is worth less.
GreatGranny said:
Definately lease.
Its the easiest route with no potential big bills the 2nd hand car may have.
Also your wife will be well chuffed with a new car which means brownie points for you.
If the car gives me better MPG than our current car (15mpg) then there is also some money to be saved there! Its the easiest route with no potential big bills the 2nd hand car may have.
Also your wife will be well chuffed with a new car which means brownie points for you.
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