Personal contract hire

[Davie_GLA]

Afternoon all.

I think I'm abouttoi venture into personal contract hire for the first time.

I've looked and I can get a new 318d for around £300 a month with £500 deposit. Not teriible exciting uk sure but a five series can be glad for not a lot more.

Any advice? Any pitfalls? Seems like a decent way to change your car frequently.

Thanks in advance.

David

[golfdsg]

Its a great way if you want to keep changing your car every couple of years.

make sure you take out Gap insurance so that if you have an accident your gap insurance will pay for your outstanding finance.

[Davie_GLA]

golfdsg said:

Its a great way if you want to keep changing your car every couple of years.

make sure you take out Gap insurance so that if you have an accident your gap insurance will pay for your outstanding finance.

Never thought of that. Thanks. Typically is the ongoing cost if that relative to the value if the car or dealer specific?

[Fast Bug]

Check the terms and conditions as lease deals can be nigh on impossible to get out of early, so you really are committed once you sign up. Also make sure the car is up together before you return it, as some companies charge a lot for recon costs. It is possible to return a vehicle at the end of the contract without any recon costs though.

[Davie_GLA]

Up together? Recon costs?

[powerstroke]

Davie_GLA said:

Afternoon all.

I think I'm abouttoi venture into personal contract hire for the first time.

I've looked and I can get a new 318d for around £300 a month with £500 deposit. Not teriible exciting uk sure but a five series can be glad for not a lot more.

Any advice? Any pitfalls? Seems like a decent way to change your car frequently.

Thanks in advance.

David

Sorry but unless its a way of saving paying some tax its a good way of paying good money to hire a average all be it new car!!!!

[Fast Bug]

Davie_GLA said:

Up together? Recon costs?

Any wheels need refurbing, dents, scratches. Anything over and above 'fair wear and tear' they'll charge you for. Much like if you part exchange your car and it has 2 wheels that are kerbed to kingdom come, the dealer will lower the part exchage price. If you return the car at the end of the agreement with to buggered alloys they'll charge you the recon costs. Plus an admin fee, or at the very least a high cost to repair them.