Leasing a car. My take on it.
Discussion
We have leased cars for 10yrs now on various PCP’s and latterly PCH’s. The family wagon has always been a washing machine purchase. I am looking for a modern, safe, economical and hassle free sprog mover and don’t care about colour, spec or engine.
Last 4 have been Nissan Leaf’s at £500 in and £160 a month for 24 months 10k pa
Current deal, off this forum, is a 2019 Octavia PCH 3 + 23 10k pa for £151 a month with maintenance!
That’s cheap motoring over two years and utterly hassle free. I always go for in-stock vehicles and take the best deal on market. There really isn’t a bad car out there period so don’t care what turns up next. It isn’t that I can’t buy outright but that the finance deals made the overall cost cheaper due to discounts and servicing offered.
Last 4 have been Nissan Leaf’s at £500 in and £160 a month for 24 months 10k pa
Current deal, off this forum, is a 2019 Octavia PCH 3 + 23 10k pa for £151 a month with maintenance!
That’s cheap motoring over two years and utterly hassle free. I always go for in-stock vehicles and take the best deal on market. There really isn’t a bad car out there period so don’t care what turns up next. It isn’t that I can’t buy outright but that the finance deals made the overall cost cheaper due to discounts and servicing offered.
Jag_NE said:
Have you got a link to the 500pm deal please?
2 minutes of Googling and found this. Have a ganders. This isn’t far off. https://leasing.com/car-leasing/land-rover/range-r...
One thing people need to understand about leasing is the deals come and go.
One month they may be sub £12k total cost, the next they may be higher.
Searching for your dream car at the right price with leasing can prove difficult, it’s all about not being too picky.
Pros and cons etc etc.
roadsmash said:
2 minutes of Googling and found this. Have a ganders. This isn’t far off.
https://leasing.com/car-leasing/land-rover/range-r...
One thing people need to understand about leasing is the deals come and go.
One month they may be sub £12k total cost, the next they may be higher.
Searching for your dream car at the right price with leasing can prove difficult, it’s all about not being too picky.
Pros and cons etc etc.
Unless I’m missing something, that’s double the length and 3rd of the allowed mileage of what you suggested? Total lease cost £26,681.79. Not exactly “close”??https://leasing.com/car-leasing/land-rover/range-r...
One thing people need to understand about leasing is the deals come and go.
One month they may be sub £12k total cost, the next they may be higher.
Searching for your dream car at the right price with leasing can prove difficult, it’s all about not being too picky.
Pros and cons etc etc.
Unless it’s sorted differently or something
Edited by NerveAgent on Wednesday 31st July 07:47
NerveAgent said:
roadsmash said:
2 minutes of Googling and found this. Have a ganders. This isn’t far off.
https://leasing.com/car-leasing/land-rover/range-r...
One thing people need to understand about leasing is the deals come and go.
One month they may be sub £12k total cost, the next they may be higher.
Searching for your dream car at the right price with leasing can prove difficult, it’s all about not being too picky.
Pros and cons etc etc.
Unless I’m missing something, that’s double the length and 3rd of the allowed mileage of what you suggested? Total lease cost £26,681.79. Not exactly “close”??https://leasing.com/car-leasing/land-rover/range-r...
One thing people need to understand about leasing is the deals come and go.
One month they may be sub £12k total cost, the next they may be higher.
Searching for your dream car at the right price with leasing can prove difficult, it’s all about not being too picky.
Pros and cons etc etc.
Unless it’s sorted differently or something
Edited by NerveAgent on Wednesday 31st July 07:47
As I said, you won’t get an exact match as the deals come and go, but you’ll get close.
Another good example. Been leasing for years and decided last year to break the cycle and try buying used again.
Bought a 2014 Mini Countryman SD for the wife. £11k approved used car, easily the best value of any car on the market at the time once I had got them down a bit. Took out a £10k loan over 2 years to pay for it with about £500 of interest costs so £11.5k all in.
A year later we decided to move it on as not really getting on with it. Tried selling privately for £8.5k and then £8k and just got messed about and low-balled for weeks. Finally let it go to the best offer from a dealer of £7500 as didn't want 3 cars on the drive and bleeding money every month.
So £4000 lost in a year on a 4 year old used car bought for £11.5. I also had to tax it, MOT it, service it etc. in that time.
For daily transport I'll never buy again. Could have leased something nice for that money and had a brand new car and non of the aggravation.
She's now got an i3 from EVEzy on monthly subscription. £399 a month and saving us £200 a month on fuel and £50 a month on insurance compared to the much inferior Mini.
Bought a 2014 Mini Countryman SD for the wife. £11k approved used car, easily the best value of any car on the market at the time once I had got them down a bit. Took out a £10k loan over 2 years to pay for it with about £500 of interest costs so £11.5k all in.
A year later we decided to move it on as not really getting on with it. Tried selling privately for £8.5k and then £8k and just got messed about and low-balled for weeks. Finally let it go to the best offer from a dealer of £7500 as didn't want 3 cars on the drive and bleeding money every month.
So £4000 lost in a year on a 4 year old used car bought for £11.5. I also had to tax it, MOT it, service it etc. in that time.
For daily transport I'll never buy again. Could have leased something nice for that money and had a brand new car and non of the aggravation.
She's now got an i3 from EVEzy on monthly subscription. £399 a month and saving us £200 a month on fuel and £50 a month on insurance compared to the much inferior Mini.
roadsmash said:
NerveAgent said:
roadsmash said:
2 minutes of Googling and found this. Have a ganders. This isn’t far off.
https://leasing.com/car-leasing/land-rover/range-r...
One thing people need to understand about leasing is the deals come and go.
One month they may be sub £12k total cost, the next they may be higher.
Searching for your dream car at the right price with leasing can prove difficult, it’s all about not being too picky.
Pros and cons etc etc.
Unless I’m missing something, that’s double the length and 3rd of the allowed mileage of what you suggested? Total lease cost £26,681.79. Not exactly “close”??https://leasing.com/car-leasing/land-rover/range-r...
One thing people need to understand about leasing is the deals come and go.
One month they may be sub £12k total cost, the next they may be higher.
Searching for your dream car at the right price with leasing can prove difficult, it’s all about not being too picky.
Pros and cons etc etc.
Unless it’s sorted differently or something
Edited by NerveAgent on Wednesday 31st July 07:47
As I said, you won’t get an exact match as the deals come and go, but you’ll get close.
Familymad said:
The family wagon has always been a washing machine purchase. I am looking for a modern, safe, economical and hassle free sprog mover and don’t care about colour, spec or engine.
{...}
Current deal, off this forum, is a 2019 Octavia PCH 3 + 23 10k pa for £151 a month with maintenance!
That’s cheap motoring over two years and utterly hassle free. I always go for in-stock vehicles and take the best deal on market. There really isn’t a bad car out there period so don’t care what turns up next. It isn’t that I can’t buy outright .
That exaxtly mirrors my experience and attitude, so I have no reason to buy a family car again nor even to consider second hand at those silly prices for as long as they are around. {...}
Current deal, off this forum, is a 2019 Octavia PCH 3 + 23 10k pa for £151 a month with maintenance!
That’s cheap motoring over two years and utterly hassle free. I always go for in-stock vehicles and take the best deal on market. There really isn’t a bad car out there period so don’t care what turns up next. It isn’t that I can’t buy outright .
SWoll said:
Another good example. Been leasing for years and decided last year to break the cycle and try buying used again.
Bought a 2014 Mini Countryman SD for the wife. £11k approved used car, easily the best value of any car on the market at the time once I had got them down a bit. Took out a £10k loan over 2 years to pay for it with about £500 of interest costs so £11.5k all in.
A year later we decided to move it on as not really getting on with it. Tried selling privately for £8.5k and then £8k and just got messed about and low-balled for weeks. Finally let it go to the best offer from a dealer of £7500 as didn't want 3 cars on the drive and bleeding money every month.
So £4000 lost in a year on a 4 year old used car bought for £11.5. I also had to tax it, MOT it, service it etc. in that time.
For daily transport I'll never buy again. Could have leased something nice for that money and had a brand new car and non of the aggravation.
She's now got an i3 from EVEzy on monthly subscription. £399 a month and saving us £200 a month on fuel and £50 a month on insurance compared to the much inferior Mini.
From similar experiences I know exactly what you mean, but it's fair to say that you are reflecting on the costs of a short-term ownership. These are always going to be high... owning that Mini for longer would almost certainly see the costs being lower. Bought a 2014 Mini Countryman SD for the wife. £11k approved used car, easily the best value of any car on the market at the time once I had got them down a bit. Took out a £10k loan over 2 years to pay for it with about £500 of interest costs so £11.5k all in.
A year later we decided to move it on as not really getting on with it. Tried selling privately for £8.5k and then £8k and just got messed about and low-balled for weeks. Finally let it go to the best offer from a dealer of £7500 as didn't want 3 cars on the drive and bleeding money every month.
So £4000 lost in a year on a 4 year old used car bought for £11.5. I also had to tax it, MOT it, service it etc. in that time.
For daily transport I'll never buy again. Could have leased something nice for that money and had a brand new car and non of the aggravation.
She's now got an i3 from EVEzy on monthly subscription. £399 a month and saving us £200 a month on fuel and £50 a month on insurance compared to the much inferior Mini.
I'm of the view that buying a relatively new car and running it for 5+ years is a good, low-cost model... but the problem for me is that I'm really, really rubbish at holding onto cars! With the exception of our van, I tend to change cars within 6-24 months as I get bored quickly.
I haven't done the calculations, but I'm pretty confident that some of my purchases would compare unfavorably to a shorter term lease.
On the other hand, our van was bought with cash and we've already had it 3 years (longest ownership so far). I do think that buying a vehicle outright means you think harder about what exactly you want, because you don't see yourself changing again in the short term. I'd like to do this with a car next, but can't yet think what that would be.
For those asking about the RR Velar deal I alluded to, it was here https://www.pinkcarleasing.co.uk/car-leasing/land-...
It has gone up by around £120pm, when I spoke to them on the phone they said they only have higher spec cars available now hence the price jump. Apologies for derailing the thread...this originally came from the lease deals thread which is well worth a look if you're considering it.
As you were...
It has gone up by around £120pm, when I spoke to them on the phone they said they only have higher spec cars available now hence the price jump. Apologies for derailing the thread...this originally came from the lease deals thread which is well worth a look if you're considering it.
As you were...
The Cardinal said:
SWoll said:
Another good example. Been leasing for years and decided last year to break the cycle and try buying used again.
Bought a 2014 Mini Countryman SD for the wife. £11k approved used car, easily the best value of any car on the market at the time once I had got them down a bit. Took out a £10k loan over 2 years to pay for it with about £500 of interest costs so £11.5k all in.
A year later we decided to move it on as not really getting on with it. Tried selling privately for £8.5k and then £8k and just got messed about and low-balled for weeks. Finally let it go to the best offer from a dealer of £7500 as didn't want 3 cars on the drive and bleeding money every month.
So £4000 lost in a year on a 4 year old used car bought for £11.5. I also had to tax it, MOT it, service it etc. in that time.
For daily transport I'll never buy again. Could have leased something nice for that money and had a brand new car and non of the aggravation.
She's now got an i3 from EVEzy on monthly subscription. £399 a month and saving us £200 a month on fuel and £50 a month on insurance compared to the much inferior Mini.
From similar experiences I know exactly what you mean, but it's fair to say that you are reflecting on the costs of a short-term ownership. These are always going to be high... owning that Mini for longer would almost certainly see the costs being lower. Bought a 2014 Mini Countryman SD for the wife. £11k approved used car, easily the best value of any car on the market at the time once I had got them down a bit. Took out a £10k loan over 2 years to pay for it with about £500 of interest costs so £11.5k all in.
A year later we decided to move it on as not really getting on with it. Tried selling privately for £8.5k and then £8k and just got messed about and low-balled for weeks. Finally let it go to the best offer from a dealer of £7500 as didn't want 3 cars on the drive and bleeding money every month.
So £4000 lost in a year on a 4 year old used car bought for £11.5. I also had to tax it, MOT it, service it etc. in that time.
For daily transport I'll never buy again. Could have leased something nice for that money and had a brand new car and non of the aggravation.
She's now got an i3 from EVEzy on monthly subscription. £399 a month and saving us £200 a month on fuel and £50 a month on insurance compared to the much inferior Mini.
I'm of the view that buying a relatively new car and running it for 5+ years is a good, low-cost model... but the problem for me is that I'm really, really rubbish at holding onto cars! With the exception of our van, I tend to change cars within 6-24 months as I get bored quickly.
I haven't done the calculations, but I'm pretty confident that some of my purchases would compare unfavorably to a shorter term lease.
On the other hand, our van was bought with cash and we've already had it 3 years (longest ownership so far). I do think that buying a vehicle outright means you think harder about what exactly you want, because you don't see yourself changing again in the short term. I'd like to do this with a car next, but can't yet think what that would be.
I thought about buying something secondhand and holding onto it, I know BMW's well so looked to go down that route, however having had them from anywhere between 3-6 years old previously they do have issues and they can throw big bills for daft stuff. Warranty payments on my last one were around £800 a year, and I always managed to claim more than that in repairs (x6 new injectors on my last 330i). Factoring in warranty, tyres, brakes and other stuff older cars need they can be really expensive to run. I could probably get a more reliable/cheper secondhand car if going down this route but if I'm honest I want something at least fairly 'premium' that I enjoy driving and don't really mind paying for it, plus as said above I get bored quickly or my needs change and suddenly what I have isn't quite suitable anymore. No matter which way I cut it leasing something brand new works out to only be a little more per month.
The other major bonus is not worrying about common (hugely expensive) issues or travelling all over the place looking at tired examples to find the right car if planning to hold onto it. If I lease something and it has some major issue, it just goes straight back to the dealer and I get a nice courtesy car. I've been there and done it with an N47 BMW, timing chains, backstreet garages and aftermarket warranties and just wouldn't bother with that ever again.
The Cardinal said:
SWoll said:
Another good example. Been leasing for years and decided last year to break the cycle and try buying used again.
Bought a 2014 Mini Countryman SD for the wife. £11k approved used car, easily the best value of any car on the market at the time once I had got them down a bit. Took out a £10k loan over 2 years to pay for it with about £500 of interest costs so £11.5k all in.
A year later we decided to move it on as not really getting on with it. Tried selling privately for £8.5k and then £8k and just got messed about and low-balled for weeks. Finally let it go to the best offer from a dealer of £7500 as didn't want 3 cars on the drive and bleeding money every month.
So £4000 lost in a year on a 4 year old used car bought for £11.5. I also had to tax it, MOT it, service it etc. in that time.
For daily transport I'll never buy again. Could have leased something nice for that money and had a brand new car and non of the aggravation.
She's now got an i3 from EVEzy on monthly subscription. £399 a month and saving us £200 a month on fuel and £50 a month on insurance compared to the much inferior Mini.
From similar experiences I know exactly what you mean, but it's fair to say that you are reflecting on the costs of a short-term ownership. These are always going to be high... owning that Mini for longer would almost certainly see the costs being lower. Bought a 2014 Mini Countryman SD for the wife. £11k approved used car, easily the best value of any car on the market at the time once I had got them down a bit. Took out a £10k loan over 2 years to pay for it with about £500 of interest costs so £11.5k all in.
A year later we decided to move it on as not really getting on with it. Tried selling privately for £8.5k and then £8k and just got messed about and low-balled for weeks. Finally let it go to the best offer from a dealer of £7500 as didn't want 3 cars on the drive and bleeding money every month.
So £4000 lost in a year on a 4 year old used car bought for £11.5. I also had to tax it, MOT it, service it etc. in that time.
For daily transport I'll never buy again. Could have leased something nice for that money and had a brand new car and non of the aggravation.
She's now got an i3 from EVEzy on monthly subscription. £399 a month and saving us £200 a month on fuel and £50 a month on insurance compared to the much inferior Mini.
As above, unless I'm looking to buy something special/weekend based I won't be doing it again.
SWoll said:
Losing 40% in a single year on a 4 year old car is a bitter pill though. Was expecting 20-25% if I'm being honest but used car prices seem to have tanked and trying to sell privately was a painful experience despite being cheaper than any dealer car on AT.
As above, unless I'm looking to buy something special/weekend based I won't be doing it again.
we shouldn't extrapolate too much from one experience, but it does highlight another change in the car market, that private sales for ordinary cars has practically finished. if you buy, buy to keep and then be prepared to dump it for peanuts at the end.As above, unless I'm looking to buy something special/weekend based I won't be doing it again.
Jag_NE said:
roadsmash said:
NerveAgent said:
roadsmash said:
2 minutes of Googling and found this. Have a ganders. This isn’t far off.
https://leasing.com/car-leasing/land-rover/range-r...
One thing people need to understand about leasing is the deals come and go.
One month they may be sub £12k total cost, the next they may be higher.
Searching for your dream car at the right price with leasing can prove difficult, it’s all about not being too picky.
Pros and cons etc etc.
Unless I’m missing something, that’s double the length and 3rd of the allowed mileage of what you suggested? Total lease cost £26,681.79. Not exactly “close”??https://leasing.com/car-leasing/land-rover/range-r...
One thing people need to understand about leasing is the deals come and go.
One month they may be sub £12k total cost, the next they may be higher.
Searching for your dream car at the right price with leasing can prove difficult, it’s all about not being too picky.
Pros and cons etc etc.
Unless it’s sorted differently or something
Edited by NerveAgent on Wednesday 31st July 07:47
As I said, you won’t get an exact match as the deals come and go, but you’ll get close.
Just for you I’ll say it one more time.
Lease deals come and go.
Shrimpvende said:
For those asking about the RR Velar deal I alluded to, it was here https://www.pinkcarleasing.co.uk/car-leasing/land-...
It has gone up by around £120pm, when I spoke to them on the phone they said they only have higher spec cars available now hence the price jump. Apologies for derailing the thread...this originally came from the lease deals thread which is well worth a look if you're considering it.
As you were...
As you can see the prices went up. I am in doubt that others have managed to lease that particular RR for less than £12k over a couple of years. It has gone up by around £120pm, when I spoke to them on the phone they said they only have higher spec cars available now hence the price jump. Apologies for derailing the thread...this originally came from the lease deals thread which is well worth a look if you're considering it.
As you were...
Same with my car, I got a stonker of a deal. Less than £5k a year... but a month or two after delivery the lease prices shot right up. I got in at the right time.
If one does a bit of research and isn’t too picky, they’ll find a fantastic deal.
It’s not for everyone. It really is that simple.
Gassing Station | Car Buying | Top of Page | What's New | My Stuff