End of Lease - Anyone Haggled?
Discussion
The lease on my Golf R (66 reg, 24K miles, standard options) ends in four weeks, note after the new reg.
Arval remarket their lease vehicles via BCA, who have quoted me £19750 to buy it including a 1 year warranty from WarrantyDirect.
WeBuyAnyCar (owned by BCA) value the car at £20135.
I was thinking of offering Arval/BAC £19,000 to take into account the fall in value when new 69 reg comes out in a weeks time.
Has anyone haggled the buy out price with a leasing company?
Arval remarket their lease vehicles via BCA, who have quoted me £19750 to buy it including a 1 year warranty from WarrantyDirect.
WeBuyAnyCar (owned by BCA) value the car at £20135.
I was thinking of offering Arval/BAC £19,000 to take into account the fall in value when new 69 reg comes out in a weeks time.
Has anyone haggled the buy out price with a leasing company?
Yes, kind of.. I questioned if the price was now or the end of the lease and they sent me a formal quote for more showing it as the end of the lease, I questioned why it was more, and they dropped the price to about £300 lower than the online price.
I got the impression they're open to sensible offers
I got the impression they're open to sensible offers
What miles were you contracted for, if it was 30k tell them that etc.
WBAC prices are generally 8-10% & buyers fee under BCA auction prices in my recent experience.
We went to the auction and bought our VW back for a grand less than VWFS wanted but it sounds like Arval being reasonable......
Yes with my company car, father in law wanted it, Audi A5 s line and Hitachi wanted £15.2k for it I got them down to £14.6k then booked it into Audi for a full service....
Recently again with Hitachi, they wanted £266 to extend my wife's lease car for another 12 months with no extra miles, currently paying £224.
After a few calls and emails got an additional 4k miles and reduced to £236
Maybe it's just Hitachi capital that are happy to haggle!!
Recently again with Hitachi, they wanted £266 to extend my wife's lease car for another 12 months with no extra miles, currently paying £224.
After a few calls and emails got an additional 4k miles and reduced to £236
Maybe it's just Hitachi capital that are happy to haggle!!
Thread revival.. rather than start new.
My lease car comes to the end of its lease in December and I'd like to buy it.
I've had it on 9xmonths upfront, then 35 months, then extended for 24 months, so total of 60+ months of payments. Based on the initial invoice list, less the payments I recon I'll have paid all but about £13,500 of the cost. Thing is, looking at the same model / mileage for sale they are retailing at twice that.
The actual model doesn't matter and I appreciate there will be some further depreciation in the year, but as a matter of principle / process, is the leasing company obliged to offer it for sale at it's true finance residual, or do they offer it at market value? I'd be miffed if they wanted much closer to what they appear to be retailing at as either I've massively overpaid on the lease given their miscalculated market expectation on depreciation, or they'd be creaming in far more than the car was originally worth. Especially so if I end up paying some level of excess milage fee for the privilege as well.
Just curious on what people's experiences have been recently when used cars have been worth far more than when lease deals were being calculated pre-pandemic and in 'normal' times.
My lease car comes to the end of its lease in December and I'd like to buy it.
I've had it on 9xmonths upfront, then 35 months, then extended for 24 months, so total of 60+ months of payments. Based on the initial invoice list, less the payments I recon I'll have paid all but about £13,500 of the cost. Thing is, looking at the same model / mileage for sale they are retailing at twice that.
The actual model doesn't matter and I appreciate there will be some further depreciation in the year, but as a matter of principle / process, is the leasing company obliged to offer it for sale at it's true finance residual, or do they offer it at market value? I'd be miffed if they wanted much closer to what they appear to be retailing at as either I've massively overpaid on the lease given their miscalculated market expectation on depreciation, or they'd be creaming in far more than the car was originally worth. Especially so if I end up paying some level of excess milage fee for the privilege as well.
Just curious on what people's experiences have been recently when used cars have been worth far more than when lease deals were being calculated pre-pandemic and in 'normal' times.
biggles330d said:
is the leasing company obliged to offer it for sale at it's true finance residual, or do they offer it at market value? I'd be miffed if they wanted much closer to what they appear to be retailing at as either I've massively overpaid on the lease given their miscalculated market expectation on depreciation, or they'd be creaming in far more than the car was originally worth. Especially so if I end up paying some level of excess milage fee for the privilege as well.
The leasing company isn't obliged to offer you the car at all, never mind at below market value. Exactly this happened to me with a Golf GTI, they simply wouldn't entertain any offer and sent it to auction, as it's very much an in demand vehicle. If they do allow you to buy the car then expect to pay market value with zero discount, with any and all outstanding lease and excess mileage charges paid beforehand.Olivera said:
The leasing company isn't obliged to offer you the car at all, never mind at below market value. Exactly this happened to me with a Golf GTI, they simply wouldn't entertain any offer and sent it to auction, as it's very much an in demand vehicle. If they do allow you to buy the car then expect to pay market value with zero discount, with any and all outstanding lease and excess mileage charges paid beforehand.
Indeed, I bought one back from Lex in 2021, but the Santander lease we have at present states up front that there is no option to buy.So yeah, it’s their or their finance companies car and whether they sell to the user or not and at what price is up to them.
biggles330d said:
Thread revival.. rather than start new.
My lease car comes to the end of its lease in December and I'd like to buy it.
I've had it on 9xmonths upfront, then 35 months, then extended for 24 months, so total of 60+ months of payments. Based on the initial invoice list, less the payments I recon I'll have paid all but about £13,500 of the cost. Thing is, looking at the same model / mileage for sale they are retailing at twice that.
The actual model doesn't matter and I appreciate there will be some further depreciation in the year, but as a matter of principle / process, is the leasing company obliged to offer it for sale at it's true finance residual, or do they offer it at market value? I'd be miffed if they wanted much closer to what they appear to be retailing at as either I've massively overpaid on the lease given their miscalculated market expectation on depreciation, or they'd be creaming in far more than the car was originally worth. Especially so if I end up paying some level of excess milage fee for the privilege as well.
Just curious on what people's experiences have been recently when used cars have been worth far more than when lease deals were being calculated pre-pandemic and in 'normal' times.
What you’ve paid to date is irrelevant. The market value today is all that matters. It’s their asset, they’ve taken the residual risk, not you. If the tables were turned you’d be cock a hoop. My lease car comes to the end of its lease in December and I'd like to buy it.
I've had it on 9xmonths upfront, then 35 months, then extended for 24 months, so total of 60+ months of payments. Based on the initial invoice list, less the payments I recon I'll have paid all but about £13,500 of the cost. Thing is, looking at the same model / mileage for sale they are retailing at twice that.
The actual model doesn't matter and I appreciate there will be some further depreciation in the year, but as a matter of principle / process, is the leasing company obliged to offer it for sale at it's true finance residual, or do they offer it at market value? I'd be miffed if they wanted much closer to what they appear to be retailing at as either I've massively overpaid on the lease given their miscalculated market expectation on depreciation, or they'd be creaming in far more than the car was originally worth. Especially so if I end up paying some level of excess milage fee for the privilege as well.
Just curious on what people's experiences have been recently when used cars have been worth far more than when lease deals were being calculated pre-pandemic and in 'normal' times.
troika said:
biggles330d said:
Thread revival.. rather than start new.
My lease car comes to the end of its lease in December and I'd like to buy it.
I've had it on 9xmonths upfront, then 35 months, then extended for 24 months, so total of 60+ months of payments. Based on the initial invoice list, less the payments I recon I'll have paid all but about £13,500 of the cost. Thing is, looking at the same model / mileage for sale they are retailing at twice that.
The actual model doesn't matter and I appreciate there will be some further depreciation in the year, but as a matter of principle / process, is the leasing company obliged to offer it for sale at it's true finance residual, or do they offer it at market value? I'd be miffed if they wanted much closer to what they appear to be retailing at as either I've massively overpaid on the lease given their miscalculated market expectation on depreciation, or they'd be creaming in far more than the car was originally worth. Especially so if I end up paying some level of excess milage fee for the privilege as well.
Just curious on what people's experiences have been recently when used cars have been worth far more than when lease deals were being calculated pre-pandemic and in 'normal' times.
What you’ve paid to date is irrelevant. The market value today is all that matters. It’s their asset, they’ve taken the residual risk, not you. If the tables were turned you’d be cock a hoop. My lease car comes to the end of its lease in December and I'd like to buy it.
I've had it on 9xmonths upfront, then 35 months, then extended for 24 months, so total of 60+ months of payments. Based on the initial invoice list, less the payments I recon I'll have paid all but about £13,500 of the cost. Thing is, looking at the same model / mileage for sale they are retailing at twice that.
The actual model doesn't matter and I appreciate there will be some further depreciation in the year, but as a matter of principle / process, is the leasing company obliged to offer it for sale at it's true finance residual, or do they offer it at market value? I'd be miffed if they wanted much closer to what they appear to be retailing at as either I've massively overpaid on the lease given their miscalculated market expectation on depreciation, or they'd be creaming in far more than the car was originally worth. Especially so if I end up paying some level of excess milage fee for the privilege as well.
Just curious on what people's experiences have been recently when used cars have been worth far more than when lease deals were being calculated pre-pandemic and in 'normal' times.
I did get some money off a car in a similar-ish situation, but it was in 2019 and things are a lot different now..From memory, I got a 3 year old Skoda Superb diesel SE-L for £8k and sold it to a Taxi driver for £8,800 the next day.
Olivera said:
The leasing company isn't obliged to offer you the car at all, never mind at below market value. Exactly this happened to me with a Golf GTI, they simply wouldn't entertain any offer and sent it to auction, as it's very much an in demand vehicle. If they do allow you to buy the car then expect to pay market value with zero discount, with any and all outstanding lease and excess mileage charges paid beforehand.
It not just demand - it's to do with the way VAT is dealt with on leased cars. VWFS didn't allow it, then someone else (even your other half) could buy the car, now they sell through a third party.biggles330d said:
Thread revival.. rather than start new.
My lease car comes to the end of its lease in December and I'd like to buy it.
I've had it on 9xmonths upfront, then 35 months, then extended for 24 months, so total of 60+ months of payments. Based on the initial invoice list, less the payments I recon I'll have paid all but about £13,500 of the cost. Thing is, looking at the same model / mileage for sale they are retailing at twice that.
The actual model doesn't matter and I appreciate there will be some further depreciation in the year, but as a matter of principle / process, is the leasing company obliged to offer it for sale at it's true finance residual, or do they offer it at market value? I'd be miffed if they wanted much closer to what they appear to be retailing at as either I've massively overpaid on the lease given their miscalculated market expectation on depreciation, or they'd be creaming in far more than the car was originally worth. Especially so if I end up paying some level of excess milage fee for the privilege as well.
Just curious on what people's experiences have been recently when used cars have been worth far more than when lease deals were being calculated pre-pandemic and in 'normal' times.
Genuine LOL.My lease car comes to the end of its lease in December and I'd like to buy it.
I've had it on 9xmonths upfront, then 35 months, then extended for 24 months, so total of 60+ months of payments. Based on the initial invoice list, less the payments I recon I'll have paid all but about £13,500 of the cost. Thing is, looking at the same model / mileage for sale they are retailing at twice that.
The actual model doesn't matter and I appreciate there will be some further depreciation in the year, but as a matter of principle / process, is the leasing company obliged to offer it for sale at it's true finance residual, or do they offer it at market value? I'd be miffed if they wanted much closer to what they appear to be retailing at as either I've massively overpaid on the lease given their miscalculated market expectation on depreciation, or they'd be creaming in far more than the car was originally worth. Especially so if I end up paying some level of excess milage fee for the privilege as well.
Just curious on what people's experiences have been recently when used cars have been worth far more than when lease deals were being calculated pre-pandemic and in 'normal' times.
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