Best Lease Car Deals Available? (Vol 5)

[Blown2CV]

indarjit-b92ls said:

Hello all,

Q5 Deal

Have been lurking on the site last few months asking questions and can honestly say the amount of help i have gleaned has been greatly appreciated.

Just about to pull the trigger on the following car, seems like a pretty good deal, with decent mileage excess at 9.6p a mile. 8k a year is fine for me really. No fee.

9 plus 23 at £335.99 with NO fees

£10.751.68 in total

(or £447.98 per month)

Can anyone find a better deal? S line is my preferred choice at 9 plus 23 rental profile, all advice welcome.

I is there truth in the rumour that deals become cheaper mid/end of March in order to shift stock before the new registration?

https://www.contracthireandleasing.com/independent...

yea, get a tiguan for less than half that.

[Alucidnation]

indarjit-b92ls said:

I is there truth in the rumour that deals become cheaper mid/end of March in order to shift stock before the new registration?

Errrrrr...

[Blown2CV]

Alucidnation said:

indarjit-b92ls said:

I is there truth in the rumour that deals become cheaper mid/end of March in order to shift stock before the new registration?

Errrrrr...

everyone knows the new registration isn't till august

[Emeye]

How is this for a Golf R deal?
Off Gateway2lease website. Personal is +vat
https://www.gateway2lease.com/cars/volkswagen/golf...

[firefly_1965]

Alucidnation said:

Errrrrr...

When do 18 plates come out?

[firefly_1965]

Blown2CV said:

yea, get a tiguan for less than half that.

Which Tiguan model, have got a link? R line has a bit of a wait.

[Blown2CV]

firefly_1965 said:

Blown2CV said:

yea, get a tiguan for less than half that.

Which Tiguan model, have got a link? R line has a bit of a wait.

page backwards in the thread until you find the deals, there are a few i thought.

[Uppity]

Econpro1 said:

A few links below. If you were willing to take the estate version they were available for approx £550 a few weeks back. Might still be some stock about. I got my c63 premium from pantheon leasing with a number of options for £635 a while back and found I got a better deal at the end of the quarter. If you wanted one I'd keep any eye out over the next few weeks.


https://www.contracthireandleasing.com/independent...

http://www.freedomcontracts.com/Mercedes-C63-4Dr-P...

Thanks for taking the trouble to post those. Current upfront costs on those deals push the total monthly over budget, so will keep tracking

Interesting point about quarter end - hadn't really considered that

[Denno B]

Emeye said:

How is this for a Golf R deal?

For 8k per annum it's nearly £9k over the term, personally couldn't bring myself to spend that much on an R especially knowing the previous deals on them.

Not expecting them to ever be as low as before but they are nowhere near. Better off with the Cupra for a fast hatch at a decent price.

[mikeN54]

mandos_01 said:

I'm going through the total loss of a lease car process at the moment, and in my case, the insurance company and lease company agree with each other's valuation of the car. The insurance company has paid the lease company that value less my excess, which is the only balance outstanding

I would ordinarily have lost my initial rental, but covered it up to 2k via my gap insurance policy. This is where I am having the issue, as the gap insurance provider is trying to weasel out of paying that due it not being a "deposit".

The broker I bought the policy through has assured me that the policy sold was (and still is being sold) to cover the initial rental, and is clearly advertising it that way

Most frustrating!

How far into the lease was it? It seems strange that the lease firm is happy to just shrug off a huge loss in your favour through no fault of their own?

Settling the car value is one thing, but what about their lost payments? Who will Pay those?

I must say I hadn't considered getting the intial payment back, I think of that as uninsured loss, I just wanted gap to cover the oustanding payments.

Edited by mikeN54 on Wednesday 28th February 21:24

[Broadsword73]

mikeN54 said:

How far into the lease was it? It seems strange that the lease firm is happy to just shrug off a huge loss in your favour through no fault of their own?

Settling the car value is one thing, but what about their lost payments? Who will Pay those?

I must say I hadn't considered getting the intial payment back, I think of that as uninsured loss, I just wanted gap to cover the oustanding payments.

Edited by mikeN54 on Wednesday 28th February 21:24

I find it odd that they would want the market value of the car at the date of the right off and then also all future lease payments too. Cake and eat it springs to mind.

[Dexter78]

I'm no expert but the way I see it going is something like this, for example...
Two year lease with lease company expecting to get £20k for the car at the end. One year in it's written off with £4k of outstanding lease payments. The lease company and the insurance company agree a settlement figure of £24k or above. The lease company is a happy bunny.
If the insurance payout does not cover what the lease company calculate is due to them (so in this hypothetical case, less than £24k) then this is where GAP insurance steps in and makes up the shortfall, as well as covering your initial rental, hopefully!!

[5to1]

Broadsword73 said:

mikeN54 said:

How far into the lease was it? It seems strange that the lease firm is happy to just shrug off a huge loss in your favour through no fault of their own?

Settling the car value is one thing, but what about their lost payments? Who will Pay those?

I must say I hadn't considered getting the intial payment back, I think of that as uninsured loss, I just wanted gap to cover the oustanding payments.

Edited by mikeN54 on Wednesday 28th February 21:24

I find it odd that they would want the market value of the car at the date of the right off and then also all future lease payments too. Cake and eat it springs to mind.

They won't suffer a loss, nor will they make more from it.

It's the settlement figure that needs to be paid at the point of terminating. The settlement figure is essentially the balance to get them to what the contract was worth if you'd completed it and handed the car back (based on a predicted residual for the car). In this case I presume the insurance payout matched the settlement figure. I believe if the payout was higher the OP would have got some money himself.

If you're curious where you'd be should you "lose" the car ask them for a settlement figure, then compare that against equivalent second hand cars (i.e. what you think your insurance would pay out). I don't think you end up down in as many cases as GAP sellers claim. But if you shop around its so cheap probably worth it for peace of mind.

[firefly_1965]

Hello all,

Q5 Deal

Have been lurking on the site last few months asking questions and can honestly say the amount of help i have gleaned has been greatly appreciated.

Just about to pull the trigger on the following car, seems like a pretty good deal, with decent mileage excess at 9.6p a mile. 8k a year is fine for me really. No fee.

9 plus 23 at £335.99 with NO fees

£10.751.68 in total

(or £447.98 per month)

Can anyone find a better deal? S line is my preferred choice at 9 plus 23 rental profile, all advice welcome.

https://www.contracthireandleasing.com/independen

[Nano2nd]

so who are people using for gap on their lease cars? my scirocco is at Listers, just sending the paperwork back today.... i've never had to sign so much paperwork in my life! even for a house purchase!

[5to1]

Nano2nd said:

so who are people using for gap on their lease cars? my scirocco is at Listers, just sending the paperwork back today.... i've never had to sign so much paperwork in my life! even for a house purchase!

Most people use ALA who offer a piston heads discount: https://www.pistonheads.com/gassing/topic.asp?h=0&...

But they aren't always the cheapest, so search for quotes online first and then they should match + give the PH discounts on top. Atleast they did for us a few months ago.

[simonwhite2000]

5to1 said:

Broadsword73 said:

mikeN54 said:

How far into the lease was it? It seems strange that the lease firm is happy to just shrug off a huge loss in your favour through no fault of their own?

Settling the car value is one thing, but what about their lost payments? Who will Pay those?

I must say I hadn't considered getting the intial payment back, I think of that as uninsured loss, I just wanted gap to cover the oustanding payments.

Edited by mikeN54 on Wednesday 28th February 21:24

I find it odd that they would want the market value of the car at the date of the right off and then also all future lease payments too. Cake and eat it springs to mind.

They won't suffer a loss, nor will they make more from it.

It's the settlement figure that needs to be paid at the point of terminating. The settlement figure is essentially the balance to get them to what the contract was worth if you'd completed it and handed the car back (based on a predicted residual for the car). In this case I presume the insurance payout matched the settlement figure. I believe if the payout was higher the OP would have got some money himself.

If you're curious where you'd be should you "lose" the car ask them for a settlement figure, then compare that against equivalent second hand cars (i.e. what you think your insurance would pay out). I don't think you end up down in as many cases as GAP sellers claim. But if you shop around its so cheap probably worth it for peace of mind.

I had my Audi S5 Coupe stolen only a few months into the lease. VWFS gave LV a settlement figure it was agreed and paid with no back and forth and no hassle within 3 weeks. There was nothing to pay in terms of 'missing payments' as this is all factored in. Audi then put me in a replacement S5 coupe within a month.

[Burwood]

Broadsword73 said:

mikeN54 said:

How far into the lease was it? It seems strange that the lease firm is happy to just shrug off a huge loss in your favour through no fault of their own?

Settling the car value is one thing, but what about their lost payments? Who will Pay those?

I must say I hadn't considered getting the intial payment back, I think of that as uninsured loss, I just wanted gap to cover the oustanding payments.

Edited by mikeN54 on Wednesday 28th February 21:24

I find it odd that they would want the market value of the car at the date of the right off and then also all future lease payments too. Cake and eat it springs to mind.

Odd-how so. Before the accident the finance company have a car + future instalments. The future instalments cover DEPRECIATION which is exactly what they suffer if the car is written off. Everyones opinion is moot. The facts are you crash the car, have it stolen etc, you are responsible for all future payments. Whether the finance company insist you pay them all is up to them. Enter GAP insurance.

To the poster who 'thought' they had 'Initial Rental' (first loaded payment). Read the policy. Below is a excerpt from one of ALA's policies. I say one, because they sell several types. If you have IR cover they must pay up. If you don't, they won't.

Insurance companies pay out the value of the car, to the finance company. If that is a lot less than the outstanding balance, tough (for finance company). Not the lessees issue. The lessee is on the hook for all future monthlies and may suffer further loss if they had a large Initial Rental payment and did not have GAP insurance to cover it. The below was part of a £10k policy, max 3k on IR and 7k on future payments.
..................................................................................................................................................................

Your Contract Hire GAP Insurance pays the difference between the Insured Value of Your Vehicle and the Outstanding Balance to settle Your Agreement including any Initial Rental paid up to £3,000, subject to the additional premium being paid, and subject to the Limit of Liability stated on the Policy Schedule (including VAT).

Edited by Burwood on Thursday 1st March 10:01

[havoc]

Emeye said:

How is this for a Golf R deal?
Off Gateway2lease website. Personal is +vat
https://www.gateway2lease.com/cars/volkswagen/golf...

Assuming 23 payments that's £7,948 plus fees over 2 years, which is >25% of list price.

It's good vs the current crop of Golf R deals, if you really want one, but not fantastic VFM. Might compare OK to buying 2nd hand and running for 2 years, but you ARE tied in to limited miles and making good on any dings it gets...

[Broadsword73]

Burwood said:

Odd-how so. Before the accident the finance company have a car + future instalments. The future instalments cover DEPRECIATION which is exactly what they suffer if the car is written off. Everyones opinion is moot. The facts are you crash the car, have it stolen etc, you are responsible for all future payments. Whether the finance company insist you pay them all is up to them. Enter GAP insurance.

Edited by Burwood on Thursday 1st March 10:01

The depreciation to the write off date is a lot less than to the expiration date of the lease. So they get market value of a car with less mileage and younger than they would have at the end of the lease. So the insurance would pay out on that basis. Why would the lease company then want paying for future depreciation aswell? Also if you have paid an upfront payment you will have possibilty paid more than the depreciation at the date of write off anyway.

So yeah, odd, as has been backed up by a couple of real world experieances mentioned above.