Lings Cars

[Jonny1984]

If anyone has anymore suggestions on the subject though, please feel free to mention. My current loan will be paid off in 18 months. I currently drive a Yaris TS, and am looking for something a bit more grown up/faster next time.

Leasing was an idea, as I would like to experience a new car at least once, or maybe I should buy something older and use the money I don't spend on the lease/loan to keep it in excellent condition?

I suppose my mind will only be made up when I'm actually ready to get a new car. I only do about 3000 miles a year, so the only real issue I would have with faster stuff is insurance premiums.

[RemainAllHoof]

Jonny1984 said:

I work in a Telecomms company in the north west

I don't always give stuff away to people who I work with, so don't go applying for a job.

Damn. *tears up application form*

[Riknos]

Jonny1984 said:

If anyone has anymore suggestions on the subject though, please feel free to mention. My current loan will be paid off in 18 months. I currently drive a Yaris TS, and am looking for something a bit more grown up/faster next time.

Leasing was an idea, as I would like to experience a new car at least once, or maybe I should buy something older and use the money I don't spend on the lease/loan to keep it in excellent condition?

I suppose my mind will only be made up when I'm actually ready to get a new car. I only do about 3000 miles a year, so the only real issue I would have with faster stuff is insurance premiums.

Whilst I understand you want the 'feel' of owning a new car, I can't help but think doing £3k a year and leasing will leave you more out of pocket then most, and leasing is a rip off anyway in my view.

[Jonny1984]

I know there are mixed feelings and opinions about leasing etc, but I just want to hear peoples experiences of going from second hand cars to new cars and back again, was it worth it?

[Blue Oval84]

Jonny1984 said:

I know there are mixed feelings and opinions about leasing etc, but I just want to hear peoples experiences of going from second hand cars to new cars and back again, was it worth it?

No matter how often people talk about second hand cars being better value for money (and they are, depreciation means I can afford a Z4 and a 5 Series) there's still nothing quite like a brand new car IMO.

Everything is clean, unmarked, everything works (in theory), the steering is still tight and there isn't a list of jobs that need doing to bring it back to mint condition.

If I had the money to burn then I'd love to buy new, however, when talking about 10's of thousands of pounds, head rules the heart and I buy used. I think that my two cars alone would have cost close to £70K new. I paid less than £15K for both. Even by the time I've spent money eventually overhauling the 5 Series suspension to make it tight again, it's hard to argue with maths like that. Unless you have a lot more money then me lol

ETA - last car I bought new was a Fiesta in 2003 on a free insurance deal which made it artificially good value.

[Jonny1984]

Just to clarify, I have a mortgage and a normal job, so I'm poor

That's what makes leasing for me seem attractive, experience it for 2 years, then maybe buy used after I have it out of my system.

[Blue Oval84]

Go for it then, at least you know up front what it's going to cost, no nasty shocks at trade in time.

If you sit tight and aren't fussy about what you get you can get some stonking deals from time to time. When I was looking a while back there was a deal on an S80 for about £200 per month over 24 months IIRC. Was the basic 2.0D engine, but seriously, that's big car for not a lot of dosh!

[Fox-]

Jonny1984 said:

I'm thinking of leasing in the next 18 months just to experience having a new car (never had one).

And you wont have one if you lease, you'll be borrowing somebody elses.

Why not just rent one from Avis for the weekend? It's the same thing only shorter term.

[Six Fiend]

Fox- said:

Jonny1984 said:

I'm thinking of leasing in the next 18 months just to experience having a new car (never had one).

And you wont have one if you lease, you'll be borrowing somebody elses.

Why not just rent one from Avis for the weekend? It's the same thing only shorter term.

Er eh?

Avis car will not be brand spankers, just spanked.

A lease car of which he is the first keeper will be all new smell and stuff. He did not say own, he said have!

[Simond S]

I have bought new and used cars in the last three years. New A4 and TTS, used Touareg x 2, Db9 and beetle.

The TTS I bought at 7k under screen price and didnt lose out. The A4 Cab lost £20k in 11 months.

Touareg lost under £1000 in 2 years, second one i bought £6k under screen. DB9 has lost a couple of thou in the last year, but nothing like the £30k a new one would have cost me.

But, I own them all. As i make a payment the equity in them rises. With leasing as you make a payment you are one month closer to a new financial agreement.

Leasing is for companies who use it as a tax advantage. It isnt a solid long term financial proposal for the public (IMO).

[Blue Oval84]

And to be honest, if you buy a new car with borrowed money and then trade it in before it's paid for (which most people do) then it's still never your's anyway, leasing is no different.

[Simond S]

doogz said:

Please explain!

I bought badly.

A4 3.0 Quattro Cab £43,000 Jun 09.
Sold after 11 months and best offer I could get was £23,000

Residuals had been ruined by A5 Cab coming out and A$'s being almost worthless.

[tercelgold]

What's the inital lump sum for on PCH, is that to reduce the monthly amount or is it refundable deposit?

I was thinking about PCH a while back after finding GAP insurance was a cheap way to avoid insurance problems on the RRP payout
but never got beyond the deposit question. (GAP insurance being £60 a year on the open market compared to £600 from a salesman
,for a supermini for example)

Edited by tercelgold on Wednesday 20th July 19:16

[Jonny1984]

Some interesting points. If I end up leasing, it will only be short term, just to have a new car for a bit and enjoy the perks of no mot's, warranties etc.

Cars that have piqued my interest are stuff like the Fabia VRS or Corsa VXR. Maybe something a bit bigger like a Leon Cupra, but these start getting expensive new.

[soxboy]

Simond S said:

doogz said:

Please explain!

I bought badly.

A4 3.0 Quattro Cab £43,000 Jun 09.
Sold after 11 months and best offer I could get was £23,000

Residuals had been ruined by A5 Cab coming out and A$'s being almost worthless.

Whereas I leased an A4 cabrio (not long before they stopped them). List price £28k, offer to buy 2 years later for less than £14k, so £14k depreciation in 2 years. Lease payments over that 2 years were £7800. Leasing win.

[Jonny1984]

You seem a bit sceptical Hora

I wish I would have put a different title now, but it was just a mad thing to receive in the post, considering it wasn't even me who was the current customer. By all means suggest other companies who offer similar deals as I have quite a bit of time to muse.

[yellowbentines]

I prefer Singhs Cars, very similar to Lings but instead of Chinese Sweets they send you Poppadoms and Spiced Onions as your free gift.

Nom nom nom.

[Fox-]

Six Fiend said:

Er eh?

Avis car will not be brand spankers, just spanked.

I've hired from them twice, both cars had under 500 miles on the clock.

Just a hire car, just like a lease car is.

[jason s4]

From what i remember, she got the backing from some of the Dragons in the Den in the early days.

[greggy50]

If going to lease have you seen the offer they have on the Citroen DS3 £166 business or £200 private on a 2yr 10k a year lease seems very good to me