Leasing ALWAYS makes sense...

Leasing ALWAYS makes sense...

Author
Discussion

Leicesterdave

Original Poster:

2,282 posts

186 months

Thursday 19th January 2017
quotequote all
No??

Unlike anything else in life I don't see the sense in 'owning' your car- is there any point in having someone you own by the time it potentially becomes a money pit? The ideal garage for me is a modern car for everyday use and a classic car for fun days (and a nice classic is clearly the car you want to own).

An Audi Allroad can be had for £250ish pounds a month (£300ish if you count initial payment) for 2 years- isn't any other similar car going to cost the same or more to buy?

DoubleD

22,154 posts

114 months

Thursday 19th January 2017
quotequote all
Here we go again.....

anonymous-user

60 months

Thursday 19th January 2017
quotequote all
Leicesterdave said:
No??

Unlike anything else in life I don't see the sense in 'owning' your car- is there any point in having someone you own by the time it potentially becomes a money pit? The ideal garage for me is a modern car for everyday use and a classic car for fun days (and a nice classic is clearly the car you want to own).

An Audi Allroad can be had for £250ish pounds a month (£300ish if you count initial payment) for 2 years- isn't any other similar car going to cost the same or more to buy?
How is the classic the one you want to own? Why don't you lease it wink

But seriously there are cars to lease and cars to own.

buggalugs

9,243 posts

243 months

Thursday 19th January 2017
quotequote all
Leicesterdave said:
No??

Unlike anything else in life I don't see the sense in 'owning' your car- is there any point in having someone you own by the time it potentially becomes a money pit? The ideal garage for me is a modern car for everyday use and a classic car for fun days (and a nice classic is clearly the car you want to own).

An Audi Allroad can be had for £250ish pounds a month (£300ish if you count initial payment) for 2 years- isn't any other similar car going to cost the same or more to buy?
Where's the Audi Allroad for £250/mo please? (cough cough bullst)

Hub

6,538 posts

204 months

Thursday 19th January 2017
quotequote all
Now there's a sweeping statement!

Of course it doesn't always make sense. In fact it only makes sense if you absolutely have to have a shiny new car every couple of years, don't mind paying for it, and don't get too attached to your cars, and don't mind the hassle of looking for another deal again after a short period.

smile

Roger Irrelevant

3,105 posts

119 months

Thursday 19th January 2017
quotequote all
Where do people to to find the lease deals that are quoted on here? The OP's example - an Audi Allroad for a little over £7k for two years - does sound pretty good. But when I look I can't find a deal close to that.

Spawn

587 posts

202 months

Thursday 19th January 2017
quotequote all
Your wrong. I'll make it easy to understand.

I use my daily to go to work and back and the odd trip out.

You:
£250 x 12 = £3000 / year.

Over 3 years that's £9000.

Me:
My car (it doesn't matter what this is - it goes a to b which is the priority in my case) cost substantially less than £9000 3 years ago. over 3 years I would guestimate its cost me £500 - 600 to keep it on the road (mot tax repairs etc).

Costs including the car - £1500 approx.


Now, I'm £7,500 up on you.

If my car now becomes a money pit, or died. I could buy something to go A to B for 2k. I'm still £5500 up on you. Over the next 3 years, it is very unlikely I'm going to spend £5500. By which point you've spent another £9000.

You in 6 years:
18,000 and you don't own a car..

I could probably kill 5 cars and have change left over.



Edited by Spawn on Thursday 19th January 20:50


Edited by Spawn on Thursday 19th January 20:51

mike9009

7,510 posts

249 months

Thursday 19th January 2017
quotequote all
Leicesterdave said:
No??

Unlike anything else in life I don't see the sense in 'owning' your car- is there any point in having someone you own by the time it potentially becomes a money pit? The ideal garage for me is a modern car for everyday use and a classic car for fun days (and a nice classic is clearly the car you want to own).

An Audi Allroad can be had for £250ish pounds a month (£300ish if you count initial payment) for 2 years- isn't any other similar car going to cost the same or more to buy?
Rumblelows?



talksthetorque

10,820 posts

141 months

Thursday 19th January 2017
quotequote all
Roger Irrelevant said:
Where do people to to find the lease deals that are quoted on here? The OP's example - an Audi Allroad for a little over £7k for two years - does sound pretty good. But when I look I can't find a deal close to that.
Contract hire and leasing's website is a good start. It's a business deal, so excludes vat, but it's 6.5k



Beardo

262 posts

185 months

Thursday 19th January 2017
quotequote all
No. No thanks. No, no, no, no.
I'd MUCH rather have a nicely looked-after second-hand motor, thank you very much. Closest size/spec/power I can get to my car from BMW is a 430i, more or less. That'll cost me up to £500 a month on a lease - my 2009 SAAB 9-5 cost me £4400 outright with 28k miles on it in September, has everything I could want from a car (some slightly uninspiring handling aside), and I OWN it.

Gallons Per Mile

2,044 posts

113 months

Thursday 19th January 2017
quotequote all
I don't understand leasing cars when people say how it 'saves them money' or 'only costs x hundred a month'. In my world, I currently run a cheap banger (yes, admittedly it's not shiny and new) that I own outright and has only cost me > £800. For a year and 11k miles of running. Including buying the car and maintaining it to a good standard. That's under £66.67 a month to put it in perspective of a lease. On the flip side, the car is 16 years old, has no gadgets and looks a bit sheddy. But I'll get at least £500 of my £800 spend back if I decided to sell tomorrow, and i don't really care about what it looks like or how many gadgets it has when I'm driving to work or taking stuff to the tip.

Does leasing always make sense? Not to me, it doesn't.

alock

4,284 posts

217 months

Thursday 19th January 2017
quotequote all
Many people on here seem to have missed the point and are comparing leasing a £30k car with buying a £3k.

That's is an argument for old and cheap cars compared with new cars and has nothing to do with how the car is funded.

If someone wants to drive around in a new £20k+ car then leasing is often better financially. If you want to drive around in a £3k 10 year old car then leading isn't even an option .

wemorgan

3,583 posts

184 months

Thursday 19th January 2017
quotequote all
Leicesterdave said:
No??
I expected better from a member of 93 months

jeebus

445 posts

190 months

Thursday 19th January 2017
quotequote all
buggalugs said:
Leicesterdave said:
No??

Unlike anything else in life I don't see the sense in 'owning' your car- is there any point in having someone you own by the time it potentially becomes a money pit? The ideal garage for me is a modern car for everyday use and a classic car for fun days (and a nice classic is clearly the car you want to own).

An Audi Allroad can be had for £250ish pounds a month (£300ish if you count initial payment) for 2 years- isn't any other similar car going to cost the same or more to buy?
Where's the Audi Allroad for £250/mo please? (cough cough bullst)
From central uk vehicle leasing last week!


AUDI A4 3.0TDI QUATTRO ALLROAD ESTATE AUTO
Image result for A4 ALLROAD
INITIAL RENTAL £2000+VAT
10,000 MILES PER ANNUM
23 RENTALS £189.99+VAT
PERSONAL £227.99 INCLUDING VAT

Or NO INITIAL RENTAL
24 straight rentals £269.99+VAT
11p plus vat excess
FACTORY ORDER
SPORT VERSION £30+VAT MORE
SPORT SPEC:
18” ALLOYS, FULL LEATHER, SAT NAV, XENONS, PRIVACY, HEADLAMP WASHERS, AUDI PARKING SYSTEM PLUS, PRE SENSE COLLISION AVOIDANCE,

Dr Jekyll

23,820 posts

267 months

Thursday 19th January 2017
quotequote all
alock said:
Many people on here seem to have missed the point and are comparing leasing a £30k car with buying a £3k.
No, the point is whether leasing is ALWAYS sensible. Not whether it's sensible for running a £30K car from new.

Targarama

14,661 posts

289 months

Thursday 19th January 2017
quotequote all
Obviously from your perspective it does. But me and the Mrs both do 15-20k miles a year. Puts the costs up considerably to lease something nice for those long journeys. We both like shiney reliable cars, but they don't have to be brand new ones.

PK0001

349 posts

183 months

Thursday 19th January 2017
quotequote all
I have always owned my own car but 18 months ago I leased a 520d m sport touring for £296 per month inc Vat, servicing and tyres. One service and a 2 tyres so far and I am just under 20k with 4 months left. I think it has been a great deal and one I found on Pistonheads.

It's a lovely car and the lease package has worked for me. No service or maintenance headaches and I know that in May I will be handing the car back so no stress about residuals and trying to sell it.

But I have really missed the pleasure of owning my own car. It's something you don't realise you are going to miss. Simple pleasures like washing the lease car and detailing it seem pointless and I have always enjoyed doing some of the more basic and routine service type stuff myself.

So I have just ordered a new car ( Subaru STi ) and cannot wait to have something on the drive I can enjoy looking at and take pleasure in driving from a to b.

So leasing worked for me but it's not for me anymore, if that makes sense.

Matttrakker

630 posts

153 months

Thursday 19th January 2017
quotequote all
Ok here's a slightly different view.
I bought my MkVI golfR I've had it about a year and done 12k in it, it's only worth what someone will pay but imo it's worth about a grand less than I bought it for, looking at the price of other 2010/11 with a lower spec. So if I keep it two more years and I lose another £4K on the price it's still £4000 less than a rental.
It's not brand new but it has a lot of toys, I don't I'd fare so well on a brand new one and I can see why people lease in that sense. If it needs a massive repair like my last Bmw did, (2008 320d needed a new engine) I probably lost out over leasing.
I like owning mine as I can mess around with it, but I am tempted by some the lease deals with some very nice cars

Beardo

262 posts

185 months

Thursday 19th January 2017
quotequote all
Dr Jekyll said:
No, the point is whether leasing is ALWAYS sensible. Not whether it's sensible for running a £30K car from new.
Exactly. Leasing makes absolutely no sense to me, buying used means I can own a nicer, but older, car outright. I don't want or need a brand-new car, and I don't want or need a significant monthly outgoing just to have said shiny motor.

JM

3,170 posts

212 months

Thursday 19th January 2017
quotequote all
talksthetorque said:
Contract hire and leasing's website is a good start. It's a business deal, so excludes vat, but it's 6.5k


8,000 miles a year, how much for 20,000?