Best Lease Car Deals Available? (Vol 6)

[SiKkBaSs]

I'm looking to move from my Golf R to a late 2016 RS3.

What are the finance deals looking like on these at the moment?

[TomScrut]

MK5DSG said:

The GT was previously associated with a higher output engine also. I.e. the GT in the MK5 was either the 1.4 TSI 170 or 2.0 TDI 140/170 models and similarly so in the MK6.

It is now just a trim level from the sounds of it. Does make it easier to understand this way I think.

Are you sure it was in Mk6? I know in the Mk5 it was the 170hp models (and the marketing of them IIRC attempted to show the likeness to a GTI) but I am pretty sure you could get a range of engine powers in Mk6 GT.

[TomScrut]

SiKkBaSs said:

I'm looking to move from my Golf R to a late 2016 RS3.

What are the finance deals looking like on these at the moment?

Dunno, I think you are in the wrong thread I'm afraid. This is for leasing, i.e. contract hire which I assume you are not looking for since you are thinking about a car nearly 2 years old.

[SiKkBaSs]

TomScrut said:

Dunno, I think you are in the wrong thread I'm afraid. This is for leasing, i.e. contract hire which I assume you are not looking for since you are thinking about a car nearly 2 years old.

Thanks for letting me know mate.

[TomScrut]

KD37 said:

Hi everyone,

Only just started for lease deals and was just wondering what I should be aiming for with regards to a good percentage of cost price on a 3 year deal.

For instance, would 20% be good, or should I be aiming higher/lower?

Ideally I want a Golf R DSG Hatchback (surprise surprise)

20% on 2 years is snap their hand off territory. As far as I am aware 25% for 2y/10kpa is regarded as the yard stick for worthwhile.

But don't let the percentage cloud your vision, a lease deal is good if its cheaper than owning it and it represents value vs other similar cars. Some cars have higher % because they depreciate more.

Its also worth noting that 2 years is often the better option, as the amortised monthly cost is normally not much more than the 3 year contracts (on competitive ones) yet with a 3 year contract you will probably have higher maintenance costs (tyres, brakes, major services) depending on your mileage.

You wont get anywhere near 20% (not even 25%) with a Golf R hatch at the moment unless the marketplace improves rapidly, next best thing are the Leon Cupras and R estates.

[TomScrut]

SiKkBaSs said:

TomScrut said:

Dunno, I think you are in the wrong thread I'm afraid. This is for leasing, i.e. contract hire which I assume you are not looking for since you are thinking about a car nearly 2 years old.

Thanks for letting me know mate.

I do think there is a PCP thread somewhere!

[fxheemr]

Afternoon guys,
Wanted to know your opinions on this? MX-5 RF (hardtop) 1.5 SE-L NAV model. 210 inc VAT and £1300 down. Anyone know of a better deal or?
https://www.libravehicleleasing.co.uk/personal-lea...

[KD37]

TomScrut said:

20% on 2 years is snap their hand off territory. As far as I am aware 25% for 2y/10kpa is regarded as the yard stick for worthwhile.

But don't let the percentage cloud your vision, a lease deal is good if its cheaper than owning it and it represents value vs other similar cars. Some cars have higher % because they depreciate more.

Its also worth noting that 2 years is often the better option, as the amortised monthly cost is normally not much more than the 3 year contracts (on competitive ones) yet with a 3 year contract you will probably have higher maintenance costs (tyres, brakes, major services) depending on your mileage.

You wont get anywhere near 20% (not even 25%) with a Golf R hatch at the moment unless the marketplace improves rapidly, next best thing are the Leon Cupras and R estates.

I've never even thought about the added maintenance cost for the 3 year. My thinking was that if I went for the 3 year, I could wait another year before having to spend another initial rental.

But I guess that's offset by the cost of maintenance?

[TomScrut]

KD37 said:

I've never even thought about the added maintenance cost for the 3 year. My thinking was that if I went for the 3 year, I could wait another year before having to spend another initial rental.

But I guess that's offset by the cost of maintenance?

On a lot of deals, the 2 year isnt much dearer per month on average accounting for the initial. But say if you do 8k per year the third year is when you will want tyres, possibly a more expensive service and of course the MOT. If you do more than that then you're probably into tyres anyway but then its brake pads, maybe even more expensive services etc.

[jageanke]

KD37 said:

I've never even thought about the added maintenance cost for the 3 year. My thinking was that if I went for the 3 year, I could wait another year before having to spend another initial rental.

But I guess that's offset by the cost of maintenance?

Get out of the mindset of initial rental and more into the amortised route, and you will make more sensible financial commitments.

Most deals can be chopped and changed to an amortised figure rather than high initial rental and low monthlies.

Remember net present value and the discounted cash flows: cash in your hand is better than cash in someone else's. This is why I personally always restructure a deal to a 1+23 to give me maximum cashflow benefit.

[duckson]

If going via VWFS I'd suggest 2 years and weight up extending to 3 when you are 6 months out from handing back.

For example my Mrs Cupra 290 (on 1+23, £249 a month, 10k pa) is due back in Dec this year but we are extending it 12 months as the new monhtly quote from 2yrs to 3yrs old came back at £208 for a total mileage of 22k over the 3yr term.
We are also likely to hand it back a month early to avoid MOT/next service, that will cost 55% of the £208 a month we are paying.

[Gdcuk]

jageanke said:

KD37 said:

I've never even thought about the added maintenance cost for the 3 year. My thinking was that if I went for the 3 year, I could wait another year before having to spend another initial rental.

But I guess that's offset by the cost of maintenance?

Get out of the mindset of initial rental and more into the amortised route, and you will make more sensible financial commitments.

Most deals can be chopped and changed to an amortised figure rather than high initial rental and low monthlies.

Remember net present value and the discounted cash flows: cash in your hand is better than cash in someone else's. This is why I personally always restructure a deal to a 1+23 to give me maximum cashflow benefit.

Only caveat to this is if you need to demonstrate lower outgoings (e.g for a mortgage application during the lease term) in which case a higher initial and lower monthlies works out better.

[225]

TomScrut said:

20% on 2 years is snap their hand off territory. As far as I am aware 25% for 2y/10kpa is regarded as the yard stick for worthwhile.

But don't let the percentage cloud your vision, a lease deal is good if its cheaper than owning it and it represents value vs other similar cars. Some cars have higher % because they depreciate more.

Its also worth noting that 2 years is often the better option, as the amortised monthly cost is normally not much more than the 3 year contracts (on competitive ones) yet with a 3 year contract you will probably have higher maintenance costs (tyres, brakes, major services) depending on your mileage.

You wont get anywhere near 20% (not even 25%) with a Golf R hatch at the moment unless the marketplace improves rapidly, next best thing are the Leon Cupras and R estates.

I was set on an R estate or equivalent but nothing came up so went to look at best value deals on anything interesting. I think that is the key as no way would I have thought of leasing a Volvo v90 but the deal I got on a D5 R design was 17 % of list over 2 years so jumped in.

Unless you have your heat set on an R I would just look at the daily deals.

[andypolack]

bwsoldier said:

Same for me, initial reply and now nothing. Not got much faith in this coming through really.

I've had a reply, but Jade is off ill and the rep won't match the offer Jonno received.

[claremont56]

duckson said:

If going via VWFS I'd suggest 2 years and weight up extending to 3 when you are 6 months out from handing back.

For example my Mrs Cupra 290 (on 1+23, £249 a month, 10k pa) is due back in Dec this year but we are extending it 12 months as the new monhtly quote from 2yrs to 3yrs old came back at £208 for a total mileage of 22k over the 3yr term.
We are also likely to hand it back a month early to avoid MOT/next service, that will cost 55% of the £208 a month we are paying.

My A6 is due back in Sept, (6+23, £380 month, 10k pa) and I'm considering keeping it longer, I've only done 13k miles.

VWFS are quoting to extend to 3 years and 21k. But they're really slow, it's been a week and still no numbers.

I'm hoping for lower than £380 given that I only want an extra 1k miles vs the 2 year agreement. But I'm not sure how these calculations typically work ?

They'll also do an informal 6 month extension at £380, but I want to compare the costs of both options before I decide which one to go for.

Edited by claremont56 on Thursday 12th July 14:05

[JAM1991]

andypolack said:

I've had a reply, but Jade is off ill and the rep won't match the offer Jonno received.

Same reply, not matching the Jonno quote is rather disappointing.

[scoobyPPP]

JAM1991 said:

Same reply, not matching the Jonno quote is rather disappointing.

Yes disappointed at that, My Scirocco R goes back in March and was hoping to take delivery then. The search goes on....

[bwsoldier]

same here with the cupra, definitely cranked the prices after the amount of interest.

[KD37]

jageanke said:

Get out of the mindset of initial rental and more into the amortised route, and you will make more sensible financial commitments.

Most deals can be chopped and changed to an amortised figure rather than high initial rental and low monthlies.

Remember net present value and the discounted cash flows: cash in your hand is better than cash in someone else's. This is why I personally always restructure a deal to a 1+23 to give me maximum cashflow benefit.

Just so I can get this right in my head, by amortised do you mean spreading the whole cost of the lease into standardised monthly payments?

So rather than 6 month initial at £1200 and 23 x £200 it's 24 x £241.66?

[abyssandrew]

numtumfutunch said:

E220 AMG Wagon on 6+23 with Vanarama over 8k miles PA for £257 inc VAT

Really???

http://www.vanarama.co.uk/car-leasing/search.html?...

Hope I dont end up kicking myself tomorrow as Ive just bailed out of an email enquiry due to it needing more personal info than I was prepared to casually hand over and I wont be able to get to a phone until late afternoon

Cheers

I've been a lurker for a few weeks (since the V90 deals) but this is the first time I've been able to comment anything useful.

A bit more detail on the above quote:

- All of the flat paint cars have gone so it's metallic only which adds about £16/month
- The excess mileage rate is 23p/mile, versus approx 9p per mile if you build it into the original mileage estimate. Certainly wouldn't want to go over the mileage!
- They are in stock cars available in 2 - 3 weeks

Unfortunately this means it's no good to me as my mileage per year varies and I would want to add adaptive cruise.


Also thanks to everyone for the fantastic sharing of knowledge on here.

Edited by abyssandrew on Thursday 12th July 15:15