Best Lease Car Deals Available? (Vol 4)
Discussion
)User33678888 said:
Is that for a petrol XF or XE?
XE (see link above)They don't seem to have any petrol XF deals.
Incidentally - original XF R-Sport deal posted has now gone up (£359 - auto, £349 manual)
edit: my bad, Peter Vardy deal still the same
Edited by NickdeBug on Monday 5th June 11:30
looking at getting 2 new cars.. Family car for wife ie a land rover discovery sport, skoda kodiaq, F Pace or smilar.
Also an A5 or BMW 4 series or equivalent for me
which do people reckon is best?
not seen much of interest in lease market and tring to work out best deals... What algorithms to people use to work out whether PCP or Lease is better as the guaranteed value confuses figures. I was originally looking at total cost of PCP deposit, monthlies etc against total cost of deposit monthlies of lease but im guessing usually there is a % of equity left in the car on PCP so trying to factor that in?
Also an A5 or BMW 4 series or equivalent for me
which do people reckon is best?
not seen much of interest in lease market and tring to work out best deals... What algorithms to people use to work out whether PCP or Lease is better as the guaranteed value confuses figures. I was originally looking at total cost of PCP deposit, monthlies etc against total cost of deposit monthlies of lease but im guessing usually there is a % of equity left in the car on PCP so trying to factor that in?
Simpsons Skoda have cut some of their initial payments. Most were £2450 down originally. The monthlies have gone up a bit but that Octavia deal is a £600 saving
http://www.simpsonsskoda.co.uk/pch-offers/?inf_con...
http://www.simpsonsskoda.co.uk/pch-offers/?inf_con...
Ngac said:
looking at getting 2 new cars.. Family car for wife ie a land rover discovery sport, skoda kodiaq, F Pace or smilar.
Also an A5 or BMW 4 series or equivalent for me
which do people reckon is best?
not seen much of interest in lease market and tring to work out best deals... What algorithms to people use to work out whether PCP or Lease is better as the guaranteed value confuses figures. I was originally looking at total cost of PCP deposit, monthlies etc against total cost of deposit monthlies of lease but im guessing usually there is a % of equity left in the car on PCP so trying to factor that in?
No idea if it correct or not, but I worked out cost of lease (deposit + total monthly payments) and calculated it against the total cost of the car. I then checked prices through carwow to see what sort of discount i could get and recalculated as a percentage of that. Also an A5 or BMW 4 series or equivalent for me
which do people reckon is best?
not seen much of interest in lease market and tring to work out best deals... What algorithms to people use to work out whether PCP or Lease is better as the guaranteed value confuses figures. I was originally looking at total cost of PCP deposit, monthlies etc against total cost of deposit monthlies of lease but im guessing usually there is a % of equity left in the car on PCP so trying to factor that in?
For me the total came in at 40% over 3 years and 60k miles.
I am reasonably happy that the car in question (VW Passat estate) would probably have depreciated by more than 40% in the same period/mileage therefore lease works out a bit cheaper.
If diesel continues to get negative press then depreciation could be faster than anticipated, although one could argue that this is likely to hit the company car drivers more and reduced availability of good second hand examples might offset this.
The PCP deals are based on Guaranteed Future Value (minimum). Some deals that offer low monthly payments are doing so by offering generous GFVs. This means that you will have more to pay off at the end if you want to keep the car and probably less chance of any meaningful, or any, equity - so you might as well have leased it!
Plus points of both:
Leasing can be cheaper and occasional deals seem to pop up if you keeps your eyes open
PCP offers greater flexibility if circumstances change during the term and are probably better if you want to go "fully loaded" on the options.
I am somewhat of a novice at this and others can advise more fully - but this is what I found when I was asking the same question as you, albeit made more complicated by annoying high mileage requirement.
Good luck
I'm assuming no one has had dealings with Motor Lease Direct on the basis they haven't been trading very long. Also, not members of BVRLA.
Finance approved and chased for an order confirmation to receive an email in plain text stating the figures and requesting £2500 deposit. I've leased previously and have always paid this after delivery of the vehicle. Something doesn't feel right to me, anyone else thinking of going ahead with this?
Finance approved and chased for an order confirmation to receive an email in plain text stating the figures and requesting £2500 deposit. I've leased previously and have always paid this after delivery of the vehicle. Something doesn't feel right to me, anyone else thinking of going ahead with this?
Ngac said:
looking at getting 2 new cars.. Family car for wife ie a land rover discovery sport, skoda kodiaq, F Pace or smilar.
Also an A5 or BMW 4 series or equivalent for me
which do people reckon is best?
not seen much of interest in lease market and tring to work out best deals... What algorithms to people use to work out whether PCP or Lease is better as the guaranteed value confuses figures. I was originally looking at total cost of PCP deposit, monthlies etc against total cost of deposit monthlies of lease but im guessing usually there is a % of equity left in the car on PCP so trying to factor that in?
When ordering my car I looked at the PCP finance deals available, went onto the broker sites for PCP to get a "best price". So then I went onto the online calculators for the PCP, used the discount (excluding any manufacturer contribution) plus whatever I wanted to put in up front as deposit, to get monthly payments and a final value figure which would be representative of what you would get if you went with the best price on PCP. Then you know what the cost for yourself is to have that car for that time on PCP, excluding any equity (which I wouldn't want to count on as already mentioned).Also an A5 or BMW 4 series or equivalent for me
which do people reckon is best?
not seen much of interest in lease market and tring to work out best deals... What algorithms to people use to work out whether PCP or Lease is better as the guaranteed value confuses figures. I was originally looking at total cost of PCP deposit, monthlies etc against total cost of deposit monthlies of lease but im guessing usually there is a % of equity left in the car on PCP so trying to factor that in?
So then I found the best lease deal on the same terms, and compare the two total costs. If the lease is cheaper, then it is the cheapest way to do it IF there is going to be no equity left. The difference between the totals is how much equity you would need left to have in the car for PCP to be cheaper.
As an example (which is vague since these are new PCP figures for the S5 vs my lease figures for the S5 with £350 of options on which arent available anymore):
Discount on Orangewheels is £6235, which then we take off the £2500 contribution to make £3735 (because the calculator adds that in by itself). Add on the £1400 I wanted to put in to get £5135.
Plug that into the Audi calculator as the deposit, set to 24m/10k. It returns £618.99 pm with a £30,268.90 FV.
£1400+£618.99x23 = £15636
Now for the lease figures:
3+23, £444 pm plus £180 fee comes out at £11724. So the lease is £3913 cheaper over the term.
So then, its a decision as to whether you think the car will be worth more than £34182 (£30269 + £3913) after 2 years and 20,000 miles. I don't think it will be when a new one can be bought for £41,640 after discount inc contribution so hence why I leased it and have £180 per month less leaving my bank account.
I think my maths and logic are correct but open to questioning!
Another thing to consider is that the resale value of a lot of cars that are shoved through on hot deals are hit by the market saturation after two years when the lease cars flood the second hand market.
Edited by TomScrut on Monday 5th June 12:43
GaryG182 said:
I'm assuming no one has had dealings with Motor Lease Direct on the basis they haven't been trading very long. Also, not members of BVRLA.
Finance approved and chased for an order confirmation to receive an email in plain text stating the figures and requesting £2500 deposit. I've leased previously and have always paid this after delivery of the vehicle. Something doesn't feel right to me, anyone else thinking of going ahead with this?
I'm at the same point as you, having just had the same plain text email. I've not yet filled any order forms and they want a bank transfer for the fill 2.5k upfront. Usually the initial payment is done upon delivery of car and via the DD. seems strange to me, I've asked for more details. Finance approved and chased for an order confirmation to receive an email in plain text stating the figures and requesting £2500 deposit. I've leased previously and have always paid this after delivery of the vehicle. Something doesn't feel right to me, anyone else thinking of going ahead with this?
GaryG182 said:
I'm assuming no one has had dealings with Motor Lease Direct on the basis they haven't been trading very long. Also, not members of BVRLA.
Finance approved and chased for an order confirmation to receive an email in plain text stating the figures and requesting £2500 deposit. I've leased previously and have always paid this after delivery of the vehicle. Something doesn't feel right to me, anyone else thinking of going ahead with this?
I have been looking on the internet for some reviews but i havent come accross anything. Finance approved and chased for an order confirmation to receive an email in plain text stating the figures and requesting £2500 deposit. I've leased previously and have always paid this after delivery of the vehicle. Something doesn't feel right to me, anyone else thinking of going ahead with this?
The deposit is normally paid closer to delivery of the car so it does seem a bit weird
GaryG182 said:
I'm assuming no one has had dealings with Motor Lease Direct on the basis they haven't been trading very long. Also, not members of BVRLA.
Finance approved and chased for an order confirmation to receive an email in plain text stating the figures and requesting £2500 deposit. I've leased previously and have always paid this after delivery of the vehicle. Something doesn't feel right to me, anyone else thinking of going ahead with this?
Agreed, i've always paid any deposit after delivery. The only thing they could legitimately want at the moment is their fee, which I think I saw as £700 (which in itself seems high). I'd be cautious.Finance approved and chased for an order confirmation to receive an email in plain text stating the figures and requesting £2500 deposit. I've leased previously and have always paid this after delivery of the vehicle. Something doesn't feel right to me, anyone else thinking of going ahead with this?
GaryG182 said:
I'm assuming no one has had dealings with Motor Lease Direct on the basis they haven't been trading very long. Also, not members of BVRLA.
Finance approved and chased for an order confirmation to receive an email in plain text stating the figures and requesting £2500 deposit. I've leased previously and have always paid this after delivery of the vehicle. Something doesn't feel right to me, anyone else thinking of going ahead with this?
I wouldn't put any weight on them not being with BVRLA (they don't really do anything anyway), it's FCA regulation you really want to ensure.*edit - they are properly regulated by the FCA.Finance approved and chased for an order confirmation to receive an email in plain text stating the figures and requesting £2500 deposit. I've leased previously and have always paid this after delivery of the vehicle. Something doesn't feel right to me, anyone else thinking of going ahead with this?
Your second point - that does sound very odd! I assume it's the funder requesting the 'deposit', not MLD themselves (unless they're funding it I guess!).
As folks have confirmed they're normally taken after.
Edited by MrOnTheRopes on Monday 5th June 13:02
MrOnTheRopes said:
I wouldn't put any weight on them not being with BVRLA (they don't really do anything anyway), it's FCA regulation you really want to ensure.*edit - they are properly regulated by the FCA.
Your second point - that does sound very odd! I assume it's the funder requesting the 'deposit', not MLD themselves (unless they're funding it I guess!).
As folks have confirmed they're normally taken after.
If not part of BVRLA, could they have their own stricter set of penalty / wear and tear guidelines?Your second point - that does sound very odd! I assume it's the funder requesting the 'deposit', not MLD themselves (unless they're funding it I guess!).
As folks have confirmed they're normally taken after.
Edited by MrOnTheRopes on Monday 5th June 13:02
They tell me the R special offers all require the full fees + initial payment up-front.
T0M said:
If not part of BVRLA, could they have their own stricter set of penalty / wear and tear guidelines?
They tell me the R special offers all require the full fees + initial payment up-front.
Actual requirements (W&T etc) will always be from the funder, and therefore in the contract.They tell me the R special offers all require the full fees + initial payment up-front.
As for the full initial up front... well not saying it's impossible but there's no doubt it's very unusual.
MrOnTheRopes said:
Actual requirements (W&T etc) will always be from the funder, and therefore in the contract.
As for the full initial up front... well not saying it's impossible but there's no doubt it's very unusual.
My main issue is that I've received no contract or paperwork whatsoever, just bank details via email to send 2.5k to - all highly unusual and seems all a bit dodgy. As for the full initial up front... well not saying it's impossible but there's no doubt it's very unusual.
T0M said:
My main issue is that I've received no contract or paperwork whatsoever, just bank details via email to send 2.5k to - all highly unusual and seems all a bit dodgy.
I'd be very careful in that case, I'd be wanting paperwork before progressing. Quick question - do the phone numbers on these emails match the phone number on the MLD site?Has to be said, they have nothing on their site that even comes close to this deal.
PistonIan said:
I'd be very careful in that case, I'd be wanting paperwork before progressing. Quick question - do the phone numbers on these emails match the phone number on the MLD site?
Has to be said, they have nothing on their site that even comes close to this deal.
Good point.Has to be said, they have nothing on their site that even comes close to this deal.
It only seems to be on CHAL (and specifically on the 9+23 10k terms, if you change to 6+ the rate increases way beyond what it should do). Worth a call to CHAL maybe?
I wouldn't be sending any funds!
- edit CHAL I mean Contracthireandleasing.com (0161 482 7650)
Edited by MrOnTheRopes on Monday 5th June 13:49
Gassing Station | Car Buying | Top of Page | What's New | My Stuff