To lease or PCP
Discussion
Servicing can either be included in a lease or not.
Tax usually is (as you probably won't have the V5)
The advantage of a lease is the possibility of a bargain if the manufacturer wants to offer discounts (eg. Mercedes)
Disadvantage is that you hand the car back with nothing to show for your efforts (for good or ill)
Also, certain options are expensive on leased cars.
Tax usually is (as you probably won't have the V5)
The advantage of a lease is the possibility of a bargain if the manufacturer wants to offer discounts (eg. Mercedes)
Disadvantage is that you hand the car back with nothing to show for your efforts (for good or ill)
Also, certain options are expensive on leased cars.
Leasing is normally much better, especially if it's on a car you won't want to keep after the term is over.
You can get maintained leases which included tyres, servicing, your tax Ect. You are limited to your mileage but you have that on pcp too. The deposit is normally a lot smaller too.
A pcp is good if you want to keep the car at the end of the 3 years where you just pay off the final payment, or hand it back and then you can sit the difference in the value of the car and the remaining finance payment as a deposit on a new car, useful if your going to buy another model from the same dealer. Servicing is not normally included nor are tyres, but you can buy plans or they are thrown in with finance payment.
The deposits always seem a bit high for me, for instance a jag xf you put down somthing like 11k and then £400 a month but then you can get a lease with £2k down and a &500 payment a month all in. Just seems better to me
I would personally lease, there's not many cars that are special enough to keep after the term tbh.
You can get maintained leases which included tyres, servicing, your tax Ect. You are limited to your mileage but you have that on pcp too. The deposit is normally a lot smaller too.
A pcp is good if you want to keep the car at the end of the 3 years where you just pay off the final payment, or hand it back and then you can sit the difference in the value of the car and the remaining finance payment as a deposit on a new car, useful if your going to buy another model from the same dealer. Servicing is not normally included nor are tyres, but you can buy plans or they are thrown in with finance payment.
The deposits always seem a bit high for me, for instance a jag xf you put down somthing like 11k and then £400 a month but then you can get a lease with £2k down and a &500 payment a month all in. Just seems better to me
I would personally lease, there's not many cars that are special enough to keep after the term tbh.
SV8Predator said:
jimbop1 said:
because I don't believe I could make any money on either.
How could you possibly expect to 'make any money?'I meant have anything to sell at the end. Unless obviously I bought the car out right on the pcp. Still wouldn't get the deposit Back I out down though
This is pistonheads so I'm afraid I do have to suggest buying a £1000 mx5.
I would personally lease, yes you loose your deposit at the end but your loosing that now. And even if
You did have equaty left in your BMW now, you would still loose that if you wanted to buy a Merc or such like.
Depends what car you want really, currently loads of good run out deals. Iirc some people on here have got c63 amgs on lease for less than £500 a month, similar or a m3.
Shop about really. It's worth mentioning looking at pre reg cars with a bank loan, then you can sell when you want, still have the car at the end, normally cheaper, bit adds servicing and tax etc.
I would personally lease, yes you loose your deposit at the end but your loosing that now. And even if
You did have equaty left in your BMW now, you would still loose that if you wanted to buy a Merc or such like.
Depends what car you want really, currently loads of good run out deals. Iirc some people on here have got c63 amgs on lease for less than £500 a month, similar or a m3.
Shop about really. It's worth mentioning looking at pre reg cars with a bank loan, then you can sell when you want, still have the car at the end, normally cheaper, bit adds servicing and tax etc.
okie592 said:
This is pistonheads so I'm afraid I do have to suggest buying a £1000 mx5.
I would personally lease, yes you loose your deposit at the end but your loosing that now. And even if
You did have equaty left in your BMW now, you would still loose that if you wanted to buy a Merc or such like.
Depends what car you want really, currently loads of good run out deals. Iirc some people on here have got c63 amgs on lease for less than £500 a month, similar or a m3.
Shop about really. It's worth mentioning looking at pre reg cars with a bank loan, then you can sell when you want, still have the car at the end, normally cheaper, bit adds servicing and tax etc.
It is pistonheads so instead of the mx5 I'm going for the next best thing... 330d!! Ha sorry but it's true. Got the real toy in the garage locked up I would personally lease, yes you loose your deposit at the end but your loosing that now. And even if
You did have equaty left in your BMW now, you would still loose that if you wanted to buy a Merc or such like.
Depends what car you want really, currently loads of good run out deals. Iirc some people on here have got c63 amgs on lease for less than £500 a month, similar or a m3.
Shop about really. It's worth mentioning looking at pre reg cars with a bank loan, then you can sell when you want, still have the car at the end, normally cheaper, bit adds servicing and tax etc.
May very well look into a bank loan! Very much liking the lease idea though
Thanks for your input guys
jimbop1 said:
It is pistonheads so instead of the mx5 I'm going for the next best thing... 330d!! Ha sorry but it's true. Got the real toy in the garage locked up
May very well look into a bank loan! Very much liking the lease idea though
Thanks for your input guys
Bank loan can be a better rate but often dealers will give bigger discounts with a lease but won't with a cash purchase because they make more profit selling the finance/lease etc. It's a balancing act and varies a lot. If going for a lease have a look at the various online brokers and take that price to the dealer to see if they can match or better it.May very well look into a bank loan! Very much liking the lease idea though
Thanks for your input guys
poing said:
Bank loan can be a better rate but often dealers will give bigger discounts with a lease but won't with a cash purchase because they make more profit selling the finance/lease etc. It's a balancing act and varies a lot. If going for a lease have a look at the various online brokers and take that price to the dealer to see if they can match or better it.
Bloody good idea!! What do you think are the chances of a dealer matching a lease deal? If you have absolutely no interest whatsoever in keeping the car at the end of the period then lease would be worth investigating
PCP offers all the advantages of a lease but also the option of keeping the car at the end of the agreement - many manufacturers are offering good levels of deposit subsidy on PCP deals
It should all come down to the numbers - work out how long you want the car for and work out whats going to be cheapest - its really no more complicated than that
PCP offers all the advantages of a lease but also the option of keeping the car at the end of the agreement - many manufacturers are offering good levels of deposit subsidy on PCP deals
It should all come down to the numbers - work out how long you want the car for and work out whats going to be cheapest - its really no more complicated than that
Lease is normally cheaper, but it does depend on the model your after.The only advantage with a PCP is that you can end it at any time, whereas a lease is very expensive to get out of mid term.You dont have to buy another BMW if you have a BMW PCP, it can be traded at any dealer at any time.
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