Best Lease Car Deals Available? (Vol 7)
Discussion
Theoldguard said:
Guys any thoughts on the Arteon deal of the week with NVS.
SE spec with 2.0 TSI DSG over 2 years with admin fee it comes In at just shy of £6700 on 5k miles per annum, I was looking at 8k on a 1+23 it's £288 per month plus admin fee. Vehicle is around £33k new.
SE spec seems decent enough and a more powerful engine that the 1.5 offering earlier this year that has known issues.
https://www.nationalvehiclesolutions.co.uk/Volkswa...
I went direct to VW and got the same 8k for £268 on a 3 + 23 with no admin fee. At £6,472 I work that out to be 19.3% of the RRP. 9 + 23 would save about £130 over the term. SE spec with 2.0 TSI DSG over 2 years with admin fee it comes In at just shy of £6700 on 5k miles per annum, I was looking at 8k on a 1+23 it's £288 per month plus admin fee. Vehicle is around £33k new.
SE spec seems decent enough and a more powerful engine that the 1.5 offering earlier this year that has known issues.
https://www.nationalvehiclesolutions.co.uk/Volkswa...
DrewPeacock said:
I went direct to VW and got the same 8k for £268 on a 3 + 23 with no admin fee. At £6,472 I work that out to be 19.3% of the RRP. 9 + 23 would save about £130 over the term.
On a £268 pm, 3+23 I get £6968 over the term. That's more like 21%. Anyhow was it straightforward getting this from VW main dealer, did you need to get them to price match or was it all on the system, NVS are stating an 18 week lead time, how long you been quoted? Theoldguard said:
On a £268 pm, 3+23 I get £6968 over the term. That's more like 21%. Anyhow was it straightforward getting this from VW main dealer, did you need to get them to price match or was it all on the system, NVS are stating an 18 week lead time, how long you been quoted?
Sorry, £268 is the armotised figure. £6,432 is the total. Also quoted 18 weeks. Try JCT600 Volkswagen Wakefield
Been reading the thread for a while but never posted. This will be my first lease and have been looking at XC40 and Tiguan deals but nothing has really jumped out. Ideally would be after 36 months and doing 10k. Not too precious about diesel vs petrol. Is there anything else similar you’d consider? I’m not overly sold on the Karoq recently posted.
Thanks in advance.
Thanks in advance.
Hey everyone,
I really need some of your advice, seeing as most of you are experienced in car buying this seems the perfect place.
I have been running the numbers on lease deals vs a personal car finance loan. It seems there are pros and cons with both options.
My annual travel mileage will be between 12K to 15K with my job and personal travelling at weekends. My research is showing that based on these miles most lease deals are 4 years long (cars2buy); for example an Audi A5 Black Edition 35 TFSI has been quoted at £389 per month or I buy a second hand Mercedes E Class / BMW for circa £15k for 30k on the clock.
My main thoughts with either options:
- Lease deal is a long time contract therefore 'wear and tear' will be higher with a potential big payment at the end.
- Fixed long term contract with leasing with no early exit options.
- Leasing a brand new car means I will less likely have to pay for high maintenance bills for the first two years. If I buy a used car I will have maintenance costs from the first year.
- I wont own the car after the period with leasing, but if I buy a second hand car, by the time I pay off the loan (4 years), the car will have up 70k on the clock therefore bigger repair bills likely and I am more likely to chop it in for something newer.
- I could declare lower yearly miles and plan to pay the excess miles as the deal has expired therefore reducing the period of the contract.
Would be great to hear your thoughts and advice on what you all would do. I am genuinely stuck with a decision!!
Many thanks,
Ben
I really need some of your advice, seeing as most of you are experienced in car buying this seems the perfect place.
I have been running the numbers on lease deals vs a personal car finance loan. It seems there are pros and cons with both options.
My annual travel mileage will be between 12K to 15K with my job and personal travelling at weekends. My research is showing that based on these miles most lease deals are 4 years long (cars2buy); for example an Audi A5 Black Edition 35 TFSI has been quoted at £389 per month or I buy a second hand Mercedes E Class / BMW for circa £15k for 30k on the clock.
My main thoughts with either options:
- Lease deal is a long time contract therefore 'wear and tear' will be higher with a potential big payment at the end.
- Fixed long term contract with leasing with no early exit options.
- Leasing a brand new car means I will less likely have to pay for high maintenance bills for the first two years. If I buy a used car I will have maintenance costs from the first year.
- I wont own the car after the period with leasing, but if I buy a second hand car, by the time I pay off the loan (4 years), the car will have up 70k on the clock therefore bigger repair bills likely and I am more likely to chop it in for something newer.
- I could declare lower yearly miles and plan to pay the excess miles as the deal has expired therefore reducing the period of the contract.
Would be great to hear your thoughts and advice on what you all would do. I am genuinely stuck with a decision!!
Many thanks,
Ben
TV8 said:
Hi, looking for a bit of advice please. I have just bought my first personal contract hire and wondered what happens with regards to total loss insurance claims and the concept of gap insurance for what is a personal rental?
https://www.ala.co.uk/gap-insurance-what-is-it?gclid=CjwKCAjwmtDpBRAQEiwAC6lm4448q_WC7QW1erTVeAQGMi9nyqcMNNK-ng0MGY1xr-l9hihyHm7wuhoCzvAQAvD_BwEThe above summary by ALA is quite good at explaining the different options. Also, ALA tend to be the provider of choice among many members on PH. IIRC, there may be a PH members discount code if you decide to buy a policy from them.
Edit: This thread on PH (https://www.pistonheads.com/gassing/topic.asp?h=0&f=23&t=1488230&i=20) looks like a good place for further information if you need it.
Edited by Rid_1 on Sunday 21st July 10:41
ben.elsey1984 said:
Hey everyone,
I really need some of your advice, seeing as most of you are experienced in car buying this seems the perfect place.
I have been running the numbers on lease deals vs a personal car finance loan. It seems there are pros and cons with both options.
My annual travel mileage will be between 12K to 15K with my job and personal travelling at weekends. My research is showing that based on these miles most lease deals are 4 years long (cars2buy); for example an Audi A5 Black Edition 35 TFSI has been quoted at £389 per month or I buy a second hand Mercedes E Class / BMW for circa £15k for 30k on the clock.
My main thoughts with either options:
- Lease deal is a long time contract therefore 'wear and tear' will be higher with a potential big payment at the end.
- Fixed long term contract with leasing with no early exit options.
- Leasing a brand new car means I will less likely have to pay for high maintenance bills for the first two years. If I buy a used car I will have maintenance costs from the first year.
- I wont own the car after the period with leasing, but if I buy a second hand car, by the time I pay off the loan (4 years), the car will have up 70k on the clock therefore bigger repair bills likely and I am more likely to chop it in for something newer.
- I could declare lower yearly miles and plan to pay the excess miles as the deal has expired therefore reducing the period of the contract.
Would be great to hear your thoughts and advice on what you all would do. I am genuinely stuck with a decision!!
Many thanks,
Ben
As you say there are pros and cons to both. Leasing is the easy way of driving a brand new car without risk and knowing your fixed monthly payment. If leasing I would only do the period during warranty in Audis case 3 years max as don’t want to be paying repairs in yr 4 for a car you will most likely hand back. Plus only tied in for shorter period then. Only pay for 12k miles and pay excess at end if need in case only do 12k miles you can usually adjust this mid term if find you are doing the 15k year. I really need some of your advice, seeing as most of you are experienced in car buying this seems the perfect place.
I have been running the numbers on lease deals vs a personal car finance loan. It seems there are pros and cons with both options.
My annual travel mileage will be between 12K to 15K with my job and personal travelling at weekends. My research is showing that based on these miles most lease deals are 4 years long (cars2buy); for example an Audi A5 Black Edition 35 TFSI has been quoted at £389 per month or I buy a second hand Mercedes E Class / BMW for circa £15k for 30k on the clock.
My main thoughts with either options:
- Lease deal is a long time contract therefore 'wear and tear' will be higher with a potential big payment at the end.
- Fixed long term contract with leasing with no early exit options.
- Leasing a brand new car means I will less likely have to pay for high maintenance bills for the first two years. If I buy a used car I will have maintenance costs from the first year.
- I wont own the car after the period with leasing, but if I buy a second hand car, by the time I pay off the loan (4 years), the car will have up 70k on the clock therefore bigger repair bills likely and I am more likely to chop it in for something newer.
- I could declare lower yearly miles and plan to pay the excess miles as the deal has expired therefore reducing the period of the contract.
Would be great to hear your thoughts and advice on what you all would do. I am genuinely stuck with a decision!!
Many thanks,
Ben
Buying second hand is a bit more risk as don’t know how car has been driven by previous owner/s and you will be responsible for any maintenance/breakdown cost during ownership. It’s really a gamble and most likely this will be the cheapest way unless you are unlucky to be hit with a big bill. Then there is hassle dealing with garages sorting problems (I once had an oil leak and 3 diff garages said was coming from different place ended up paying extra for something that didn’t fix problem)
Finally you really need to sell private at end otherwise will take big hit on part ex.
Another ‘pro’ for buying used is you can take it to your dads mates son for servicing and nobody loses their minds, with a lease you have to do it by the book at main dealers and pay the associated costs which are generally high!
I’ve been through the same debate though and I eventually decided on leasing. Less over all risk, less hassle and you can find some excellent deals, even better ones if you aren’t badge conscious.
Also if your taking a loan out your paying monthly, then by the time your paid up your probably ready for a new car anyway so you take out another loan. On a part ex 15k Audi/beemer your probably looking at £2k trade in which is the average cost of an initial lease payment anyway.
How ever I looked at it the costs worked out very similar if your changing cars regularly, you pay a slight premium on a lease but for that you get warranty, hassle free and a brand new car and imo it makes it worth it.
The only way I seen a bank loan being cheapest was if you could pay it off within a couple of years and get a cheaper car, or if you plan to keep the car a few years after the loan is paid.
I’ve been through the same debate though and I eventually decided on leasing. Less over all risk, less hassle and you can find some excellent deals, even better ones if you aren’t badge conscious.
Also if your taking a loan out your paying monthly, then by the time your paid up your probably ready for a new car anyway so you take out another loan. On a part ex 15k Audi/beemer your probably looking at £2k trade in which is the average cost of an initial lease payment anyway.
How ever I looked at it the costs worked out very similar if your changing cars regularly, you pay a slight premium on a lease but for that you get warranty, hassle free and a brand new car and imo it makes it worth it.
The only way I seen a bank loan being cheapest was if you could pay it off within a couple of years and get a cheaper car, or if you plan to keep the car a few years after the loan is paid.
Theguy5 said:
Another ‘pro’ for buying used is you can take it to your dads mates son for servicing and nobody loses their minds, with a lease you have to do it by the book at main dealers and pay the associated costs which are generally high!
I.
The rules have recently changed on this and most financing companies are now ok with servicing at independent garages but should use genuine parts and based on manufacture's guidelines. I did this with my Merc which was funded by Lex and there were no issues. almost 50% cheaper that main dealer servicing !I.
But one should confirm with the funder beforehand and get approval in writing. I know that VWFS stipulate that the car should be serviced by a franchised dealer
nocturne_sa said:
The rules have recently changed on this and most financing companies are now ok with servicing at independent garages but should use genuine parts and based on manufacture's guidelines. I did this with my Merc which was funded by Lex and there were no issues. almost 50% cheaper that main dealer servicing !
But one should confirm with the funder beforehand and get approval in writing. I know that VWFS stipulate that the car should be serviced by a franchised dealer
Sounds like my brother is in for a bill when he returns his VWFS supplied Tiguan. He has been using a VW indy. I've just ordered a Merc funded by Hitachi and in the terms all i can see is like you said " needs to be serviced to manufacturers guidelines using genuine parts"But one should confirm with the funder beforehand and get approval in writing. I know that VWFS stipulate that the car should be serviced by a franchised dealer
ben.elsey1984 said:
My research is showing that based on these miles most lease deals are 4 years long (cars2buy)
No, these are completely decoupled. If you want more miles, get a quote for more miles. If you want longer duration contract, get a quote for one. You probably don't want to lease for 4 years though, it doesn't make a lot of sense. Lease for 2 or 3.ben.elsey1984 said:
- Lease deal is a long time contract therefore 'wear and tear' will be higher with a potential big payment at the end.
No, I can't agree. Any four wheeled metal that you own or rent, be it for a week in Spain or 4 years PCP in Britain, the value of the car is impacted by damage to it. The advantage with leasing is that the cost to you for them to repair any damage is incredibly reasonable. There is of course a potential big payment if you smash the car into a tree. Or you live in gang land or something.ben.elsey1984 said:
- Leasing a brand new car means I will less likely have to pay for high maintenance bills for the first two years.
Well, you can pick language carefully: there will be considerable predictability of your costs. You will pay for servicing as required for the model of car. Highly unlikely to pay for any other service or maintenance. ben.elsey1984 said:
- I wont own the car after the period with leasing, but if I buy a second hand car, by the time I pay off the loan (4 years), the car will have up 70k on the clock therefore bigger repair bills likely and I am more likely to chop it in for something newer.
Um. Try to see it as *what is the cost of motoring to me?*. Leasing is very much determined by that initial payment and the monthly payment you can afford.Gassing Station | Car Buying | Top of Page | What's New | My Stuff