RE: PH Service History: To lease or not to lease
Discussion
Rick1.8t said:
Ares said:
Don't really see there is a difference. If the car needs a repair....it needs a repair? Being gutted as you are about to get rid of it could happen at any point. If it is a leased car, you would have greater clout through the leasing company to get a goodwill gesture plus some aspects would be covered by the leasing company.
I think there is quite a glaring difference - If you fund a costly repair on a car that you 'own' or even put 4 new tyres on some of the larger cars at around £1000 you get to decide when to move the car on and can therefore get some value out of the repair / maintainence cost.With lease, if you had it on a 4 yr deal and something goes wrong outside of the warranty, say 2 months before the end of the lease period, plus you need new tyres, pads, say a service etc you could spend thousands of pounds to give a perfect car back only weeks later - If you 'own' the car however you can decide to keep it to get some value from the cost, of course tyres etc will wear again but its much nicer to get some use from the things you spend money on than give them away.
I have a work vehicle on lease, its on a 2 yr deal and won't need tyres, pads or any such maintainence in that period and only one fixed £199.99 service, it is also obviously under warranty for the full duration - I will get pretty much the full life out of the front tyres and pads and give it back with a fresh service, I may keep the lease rolling if it works out best to (I can have an 'informal extension' at the same monthly cost) which is ideal as I can then choose exactly when to hand it back - this will certainly be before the 3yr warranty is up.
On out of warranty repairs.....firstly, very few cars have major spend needed in the first 4 years, any that does, you will typically get it as goodwill coverage.
Difference with leasing is, the leasing company will be liable for certain aspects and the will have far greater weight to get good will coverage for out of warranty repairs.
I've only ever had one year 3 warranty issue - BMW adaptive suspension damper failure at 3.5yrs. Rang dealer, was told it was chargeable. Rang leasing company, they covered it (got 90% coverage from BMW, they paid the remaining 10%)
Ares said:
On maintenance - just plan your tenure accordingly, I do.
On out of warranty repairs.....firstly, very few cars have major spend needed in the first 4 years, any that does, you will typically get it as goodwill coverage.
Difference with leasing is, the leasing company will be liable for certain aspects and the will have far greater weight to get good will coverage for out of warranty repairs.
I've only ever had one year 3 warranty issue - BMW adaptive suspension damper failure at 3.5yrs. Rang dealer, was told it was chargeable. Rang leasing company, they covered it (got 90% coverage from BMW, they paid the remaining 10%)
It sounds like your opinion is based on the fact it worked out OK for you in the one instance you had an issue and therefore it will work out the same way in all cases and for all people? - There are lots of different vehicles out there, lots of different parts that can fail and many different ways in which the manuafacturer or lease company could deal with the event, just because it worked out OK once doesnt mean that somebody else wont be left with a £3k bill a month before the end of their lease period, ontop of other potential costs.On out of warranty repairs.....firstly, very few cars have major spend needed in the first 4 years, any that does, you will typically get it as goodwill coverage.
Difference with leasing is, the leasing company will be liable for certain aspects and the will have far greater weight to get good will coverage for out of warranty repairs.
I've only ever had one year 3 warranty issue - BMW adaptive suspension damper failure at 3.5yrs. Rang dealer, was told it was chargeable. Rang leasing company, they covered it (got 90% coverage from BMW, they paid the remaining 10%)
For that reason, I wont roll the dice and also find it impossible to 'plan your tenure accordingly' with regards to maintainance, as many others will do - I just dont know how long tyres / pads will last on a given vehicle before ownership or my exact mileage (e.g. I have used the lease vehicle twice this year to go into europe) plus wont you require a major service in this period of time regardless of how you time anything? - You are also outside of the BMW 3 yr service plan.
If it works out for you, thats great. Personally for me lease is all about convenience and set pricing so 2yrs is perfect, I appreciate it works out differently for others - such as yourself but you should obviously see how your approach does not work for everybody too?
Edited by Rick1.8t on Thursday 25th January 18:35
I would never have a lease out of warranty unless the saving for going for 4 years instead of 3 is greater than the additional warranty cost. Otherwise, what is the benefit ? I have rarely found such situations, the delta was never more than £200 over the term. But that's based on cheaper cars, up to £30k.
I don't see the cost savings on the rentals to be worth it, and that's before looking at the additional maintenance. I've also seen quite a few cases where vehicles have spat bills outside of warranty with the manufacturer contributing only a percentage towards the cost and the lease company not wanting to know.
But if it works for you that's great, I just wouldn't do it myself
But if it works for you that's great, I just wouldn't do it myself
What a load of crap! What about the uncertainty of being out of warrenty, mot's, bigger services, road tax? Not sure who said it but 'don't buy a depreciated asset'.
In my experience, people sell cars when things start to go wrong or need replacing, so there are likely to be costs of you buy second hand, but not always.
I always find it odd that people are obsessed with saying 'yes but I own my car, you don't'! Yes and I spent that 10K you have tied up in an old car towards an extension which increased the value of my house by 60k!
In my experience, people sell cars when things start to go wrong or need replacing, so there are likely to be costs of you buy second hand, but not always.
I always find it odd that people are obsessed with saying 'yes but I own my car, you don't'! Yes and I spent that 10K you have tied up in an old car towards an extension which increased the value of my house by 60k!
Edited by Rscut on Wednesday 4th September 20:28
Rscut said:
What a load of crap! What about the uncertainty of being out of warrenty, mot's, bigger services, road tax? Not sure who said it but 'don't buy a depreciated asset'.
In my experience, people sell cars when things start to go wrong or need replacing, so there are likely to be costs of you buy second hand, but not always.
I always find it odd that people are obsessed with saying 'yes but I own my car, you don't'! Yes and I spent that 10K you have tied up in an old car towards an extension which increased the value of my house by 60k!
Exactly. Mrs Ares got into a brand new 118 Sport shadow 3 months ago. All in it will cost her well under £250/mth for 5 years. For everything bar insurance (£18/mth) and fuel.In my experience, people sell cars when things start to go wrong or need replacing, so there are likely to be costs of you buy second hand, but not always.
I always find it odd that people are obsessed with saying 'yes but I own my car, you don't'! Yes and I spent that 10K you have tied up in an old car towards an extension which increased the value of my house by 60k!
Edited by Rscut on Wednesday 4th September 20:28
That's stupidly cheap in anyone's book. You couldn't match that by buying at 2-3yrs old.
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