Citroen C1 VTR on a personal lease?

[10AE]

Chaps

I know this isn’t very PH like, but I am considering a cheap personal lease as I quite fancy having a couple of years cheap, cheerful and worry-free motoring whilst I concentrate on other non-car related projects.

I can get a Citroen C1 VTR (With Air Con) for £90/month inc VAT on a 24 month lease. The car would be brand new so under warranty and no MOT, RFL is included in the deal and I’d only need to service it once during the lease period at a minimal cost.

Taking everything into account the total running cost (fuel, service, insurance) including the lease is about £165/month with no worries about things going wrong, depreciation etc.

Compared with my current daily steed – a ’96 306 Dturbo the running costs are £45 more per month but the obvious advantages are that I have a warranty in case of a failure, breakdown cover, a brand new car, air con etc. Seems quite a good deal really.

I’ve never done leasing or financing before so not sure about the requirements. My partner and I own our home (with about 70% mortgage), have a joint income of about £50k with no other credit outgoings aside from mortgage. No adverse credit. Are we likely to have an issue?

Secondly, I’ve read a few reviews on the C1 which are generally quite positive. Is this a view shared by the PH collective?

TIA

[boredofmyoldname]

I would guess getting the credit should be easy as it isn't an unmanageable payment. Out of interest where is the deal from?

[V8mate]

10AE said:

Secondly, I’ve read a few reviews on the C1 which are generally quite positive. Is this a view shared by the PH collective?

Awesome little car for throwing round town. The 3-cyl engine just revs and revs and revs. I'd def have one full-time if I had a short urban commute.

Not sure I'd want to use it for daily longer, higher speed commutes, but it's certainly comfy and tardis-like. Definitely stick with the VTR over the base model as the seats are nicer (if nothing else)

[Kevin VRs]

Other aspects to consider are:

How much up front, and
What happens at the end of the deal?

The deal sounds too good to be true, and therefore probably is too good to be true.

I saw an ad for a 107 for £99/mth over four years, plus up front and terminal payment.

[loftylad]

Do it!

They're a right laugh to drive and cost next to fk all to run.

[robsco]

Miss Robsco has a near identical deal on her C1 and its just perfect for her. Warrantied, covered for breakdown, and probably the cheapest running costs she's going to achieve on pretty much anything.

On top of that, they're actually a great car too. The 3 cylinder engine isn't the pinnacle of refinement but its surprisingly nippy and makes a brilliant "half a 911" thrum.

[V8mate]

loftylad said:

Do it!

They're a right laugh to drive and cost next to fk all to run.

I found it used quite a bit of fuel when I had one as a courtesy car for a week. Though the rev counter never left the red

[loftylad]

V8mate said:

I found it used quite a bit of fuel when I had one as a courtesy car for a week. Though the rev counter never left the red

Haha

They're not as good on fuel as the figures would have you believe, but you can't really argue with 58ish mpg can you ? (Thats what I get - real world figures)

[10AE]

Sounds positive so far.

Up front payment is £599 inc VAT but I would fund that with the sale of the Dturbo for the purposes of calculations. No exit fee, hand back the car at the 24 month point.

[mcflurry]

The Crack Fox said:

Look at it differently though, it will cost you (lease) £2160 total, for which you could buy an equally realiable/cheap to run Micra K11, and probably sell it for £1500 when you've done with it, total cost £660 assuming nothing goes wrong.

It's not really comparing apples with apples though. If something goes wrong with your £2k bubble car, or it doesn't sell for £1500 (minus Autotrader advert costs etc) then it has the potential to cost much more than £660.

[10AE]

mcflurry said:

It's not really comparing apples with apples though. If something goes wrong with your £2k bubble car, or it doesn't sell for £1500 (minus Autotrader advert costs etc) then it has the potential to cost much more than £660.

This is true. My Dturbo has cost virtually nothing to date in 2,500 miles but if something big happens it could tip it the other way. In most cases an older car will be cheaper to run but I quite like the headache-free idea of having a new car with warranty, especially if it really costs only £45/month more than my 15 year old hatchback to run.

I also detest selling cars so being able to simply hand it back at the end of a lease period would be refreshing.

[Muzzer]

Remember you're tied in for 2 years. If your circumstances change, you can't simply give it back - it's a contract for the full term.

Also, check the small print about condition at the end of the term. Some lease companies (Yes, you Mercedes) expect a car back without a mark on it.

But, £90 is peanuts and it's cheap motoring for that amount of time if you just want a runabout. Looks good.

There'll be someone along in a minute who'll tell you that it's stupid to spend £90 a month on something you don't own and will link to a 90s Jag/7 series/Mustang/Land Rover/MX5 for bargain money in the classifieds that obviously won't break down (because theirs hasn't) and will be much more sensible.

[VeeFour]

I'd keep the 306 - a C1 will feel like you're driving a tin can in comparison.

It's unlikely a 306 DTurbo will go wrong in a big way, and at a saving of £45 / month, you'll soon have a fair wedge in the bank for any repairs needed.

[10AE]

Muzzer said:

Remember you're tied in for 2 years. If your circumstances change, you can't simply give it back - it's a contract for the full term.

Also, check the small print about condition at the end of the term. Some lease companies (Yes, you Mercedes) expect a car back without a mark on it.

But, £90 is peanuts and it's cheap motoring for that amount of time if you just want a runabout. Looks good.

There'll be someone along in a minute who'll tell you that it's stupid to spend £90 a month on something you don't own and will link to a 90s Jag/7 series/Mustang/Land Rover/MX5 for bargain money in the classifieds that obviously won't break down (because theirs hasn't) and will be much more sensible.

Fair play. I'd be wary of leasing anything expensive because of your first point but £90/month is like you say, peanuts.

I'd be a bit concerned about condition at end of term. I do look after my cars but it would inevitably get a tiny scuff here or there. I guess spending £150 on a basic 'detail' at end of term might be a worthwhile investment? Where would I stand on tyres, for example? I'd be 12k in after 2 years so fronts would be half worn but wouldn't need replacing. Would they expect you to replace?

I generally am an advocate of an older car as opposed to a new car but at £45/month extra it seems a bargain to have something hassle free.

[VeeFour]

It's not £90 / month. It's £115 / month when you take into account your £599 deposit, which is swallowed up by the deal - leaving you with absolutely nothing when you hand the car back in 2 years.

[Deva Link]

10AE said:

Sounds positive so far.

Up front payment is £599 inc VAT but I would fund that with the sale of the Dturbo for the purposes of calculations. No exit fee, hand back the car at the 24 month point.

OK, it's still not much, but I love the way people always ignore or gloss over the deposit in these deals!

One thing to watch is, to what standard will the car be assessed on its return? Some companies (VAG for example) are notorious for horrendous end of lease charges.

Also, are you sure you don't have to get the second year service done? That would be very unusual. If the finance company expect it, you'll get hit with a wacking surcharge. The work may well have to be done at a Citroen dealer too - again, some finance companies insist on that in the contract.

[boredofmyoldname]

The other question is what is the mileage restriction on the contract, and what are the charges if you go over that mileage?

[Muzzer]

10AE said:

I'd be a bit concerned about condition at end of term. I do look after my cars but it would inevitably get a tiny scuff here or there. I guess spending £150 on a basic 'detail' at end of term might be a worthwhile investment? Where would I stand on tyres, for example? I'd be 12k in after 2 years so fronts would be half worn but wouldn't need replacing. Would they expect you to replace?

The problems at the end of term would be things like scratches, dents, scuffed wheels or stone chips

A "basic detail" would not sort those things. You'd need to pay out on a bodyshop or something if they're really hot on these things.

Tyres and consumables would be detailed in the contract but, AIUI, if it needs a service or needs something replacing it must be done before you return it. There should be no stipulation IMO about things that are imminent

[SubaruSteve]

The biggest draw back with this kind of deal is the commitment. The commitment to complete the deal and then the inevitability of HAVING to do something else in two years.

I would also look at the cost of buying using normal HP over 5 years. Then you have the choice to settle or continue after 2 years and no-one can send you a bill for any car park dings you may have incurred along the way.

[neelyp]

http://www.arnoldclark.com/used-cars/citroen/c1/vt...

£145 deposit £145/month on a PCP from Arnold Clark.

Perhaps a better option.