Leasing car for 4 years - warranty?
Discussion
We have had PCP and PCH cars for many years now. Used to flip cars every 2 years, or even less, but more recently found it too much hassle to change so regularly. Our last couple of leases have been 3 years, which is probably the sweet spot for us.
But, now looking to order something and because of the lack of current deals, we are now interested in a 4 year deal which raises the issue of the car being out of warranty for the final year.
The car we are looking at is a BMW (so you'd like to think reasonable quality) and it would also be on a full maintenance package so serviced very well.
Is that 4thbyear really an issue? I haven't decided who to lease through, so i don't know the specifics of the maintenance contract, but most seem to suggest they would cover all maintenance AND faults/repairs.
I've done quite a bit of reading and can't seem to find any horror stories, but just wondering what people's thoughts and experiences are?
But, now looking to order something and because of the lack of current deals, we are now interested in a 4 year deal which raises the issue of the car being out of warranty for the final year.
The car we are looking at is a BMW (so you'd like to think reasonable quality) and it would also be on a full maintenance package so serviced very well.
Is that 4thbyear really an issue? I haven't decided who to lease through, so i don't know the specifics of the maintenance contract, but most seem to suggest they would cover all maintenance AND faults/repairs.
I've done quite a bit of reading and can't seem to find any horror stories, but just wondering what people's thoughts and experiences are?
This could raise ingesting questions. As you are leasing there is an argument that if it breaks you aren’t being provided with a working product so in theory the leasing company should take responsibility. Your contract is with the leasing company, not the vehicle manufacturer.
Of course the simplest thing would be to take a vehicle with a longer warranty (Renault, Toyota, Hyundai or Kia).
At four years will you need to put another set of tyres on it? As mentioned above you are also looking at more maintenance costs.
Of course the simplest thing would be to take a vehicle with a longer warranty (Renault, Toyota, Hyundai or Kia).
At four years will you need to put another set of tyres on it? As mentioned above you are also looking at more maintenance costs.
Thanks for the replies so far.
The manufacturers with longer warranties tend to be cheaper cars, and then the lease payments are less attractive.
The payments on the four year lease are actually coming out fairly reasonably when everything is taken into account. Certainly on the car I am looking at, I wouldn't have thought there will be any complete bargains over the next couple of years, and perhaps not at all. But do see the point.
The manufacturers with longer warranties tend to be cheaper cars, and then the lease payments are less attractive.
The payments on the four year lease are actually coming out fairly reasonably when everything is taken into account. Certainly on the car I am looking at, I wouldn't have thought there will be any complete bargains over the next couple of years, and perhaps not at all. But do see the point.
Welshbeef said:
Lease a KIA or Hyundai OEM warranty is 5:7 years so nothing to worry about.
He said he was specifically wanting a BMW. The post about liability for the leasing company to provide you a working product is interesting. Never looked into leasing myself.
But like all cars it's at that 3 to 4 year point things start to fail in my experience and I'm glad I'd paid the BMW Mondial extended warranty.
superdon said:
The other query I had, is....are the leasing companies sympathetic of the extra wear and tear from a four year lease? Thinking of handing back recharges.
It's all in the hands of whomever pick up your car ime. They've got guidelines but the chap who picked mine up didn't pick up on everything I knew to be there and the second inspection by BCA didn't cause me any issues.
Think Enterprise car rental inspection i.e. no scratch wider than an inch no deeper than a thumbnail etc.
I would 100% want to extend the warranty for year 4. You could wipe out the savings of taking a 4 year deal several times over with one fault out of warranty - assuming of course it's a fault that would be picked up on return inspection.
I'm just reaching the end of BMW warranty and fully intend to extend. I'd be wary of taking anything other than the BMW extended warranty.
I'm just reaching the end of BMW warranty and fully intend to extend. I'd be wary of taking anything other than the BMW extended warranty.
DE1975 said:
Most manufacturers on their configurators offer the option of a 4th year and 5th year extended warranty. Just spec this when you order the car and view it like you would buying any other optional extra. The costs would be absorbed over the monthlies for the term
This is the best option.However if it's fully maintained then check what this covers as it might cover repairs as well as tyres/routine services.
blank said:
This is the best option.
However if it's fully maintained then check what this covers as it might cover repairs as well as tyres/routine services.
Yes, have confirmed that the maintenance pack will cover everything in the fourth year and have that in writing, so no concerns nowHowever if it's fully maintained then check what this covers as it might cover repairs as well as tyres/routine services.
superdon said:
blank said:
This is the best option.
However if it's fully maintained then check what this covers as it might cover repairs as well as tyres/routine services.
Yes, have confirmed that the maintenance pack will cover everything in the fourth year and have that in writing, so no concerns nowHowever if it's fully maintained then check what this covers as it might cover repairs as well as tyres/routine services.
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