Leasing - General Discussion

[Ham_and_Jam]

Krisk101 said:

Hi I will be leasing a BMW 730D from the start of July and have a couple of quick questions as I have not leased a car like this before.

1. When getting insurance what do I put as the value of the car. The list price is £75k but many offers out there put the actual purchase price nearer £50k. If I was buying the car then I would have put the latter of course, but I am just leasing.

2. Do I need to use a premium fuel for this size of engine or will standard do?

Thanks

I don’t think a 730D will need anything other than regular diesel, especially as it’s a leased car.

As you are unlikely to have access to the invoice amount I would put the higher list price as the value. You will be declaring the lease company as the owner with your insurance company anyway, so there won’t be any issues over the reasons you put it as list price. They will only pay market value anyway, so I would not want to under insure.

Edited by Ham_and_Jam on Friday 14th May 11:11

[Krisk101]

Thanks for the help, will do

[jules_s]

Blimey this is hard work

Finding the car/lease is fine - but finding it in a specific colour far less so. Every company I enquire with offers all colour options (at cost) but when you enquire its just the free colour/white cars available

grrr

[benjo09]

So I signed the contract on my new lease this week, a BMW X3 with the technology pack but now I'm seeing people that are ordering now are being told by their dealerships that the tech pack isn't coming with the HK sound system and gesture control due to a parts shortage. When I went to my local dealer 2 weeks ago and got a price including the tech pack there was no mention of the shortage. Not bothered about the gesture control but I was looking forward to the HK system and was the main reason I went with the technology pack.

The contract just states the tech pack and not what constitutes it. I'll still be wanting the car and got a deal I'm happy with but would be nice if I wasn't paying the full price when I'm not getting the full pack. The car is due for delivery in the next 4-5 weeks so I'll find out for sure then whether it has but I'm going to contact the lese company on Monday and see if they know anything.

Has any one had a lease arrive without features they expected? Did you manage to get anything back for it or is it a case of tough?

Edited by benjo09 on Saturday 15th May 01:08

[Ham_and_Jam]

jules_s said:

Blimey this is hard work

Finding the car/lease is fine - but finding it in a specific colour far less so. Every company I enquire with offers all colour options (at cost) but when you enquire its just the free colour/white cars available

grrr

I guess you’re trying to find a car in stock?

Otherwise, the colour will just be specified for your build in the same way as if you were buying.

Not sure the problem you are finding is specific to a lease.

[jules_s]

Ham_and_Jam said:

I guess you’re trying to find a car in stock?

Otherwise, the colour will just be specified for your build in the same way as if you were buying.

Not sure the problem you are finding is specific to a lease.

Yep - you are absolutely correct

Specifying the build (with the leasing co's I've talked to so far) takes the monthlies so far above the In stock deals I'd be tempted to go PCP or just buy it for cash

I know/hope the cars are out there in the colour I want - I just need to be patient

[Wackywoo105]

benjo09 said:

So I signed the contract on my new lease this week, a BMW X3 with the technology pack but now I'm seeing people that are ordering now are being told by their dealerships that the tech pack isn't coming with the HK sound system and gesture control due to a parts shortage. When I went to my local dealer 2 weeks ago and got a price including the tech pack there was no mention of the shortage. Not bothered about the gesture control but I was looking forward to the HK system and was the main reason I went with the technology pack.

The contract just states the tech pack and not what constitutes it. I'll still be wanting the car and got a deal I'm happy with but would be nice if I wasn't paying the full price when I'm not getting the full pack. The car is due for delivery in the next 4-5 weeks so I'll find out for sure then whether it has but I'm going to contact the lese company on Monday and see if they know anything.

Has any one had a lease arrive without features they expected? Did you manage to get anything back for it or is it a case of tough?

I know this doesn't help but what deal did you get?

[jabloko99]

Is it normal for the initial payment and first monthly payment to be taken in the same month?
I thought it would be initial payment then the following month the first monthly.

[benjo09]

Wackywoo105 said:

I know this doesn't help but what deal did you get?

£430 a month for 15k miles per annum, 36 months. Not amazing but its a lot cheaper than the prices I was seeing for smaller SUVs (Q3, X1, GLA).

[PenelopaPitstop]

benjo09 said:

The contract just states the tech pack and not what constitutes it. I'll still be wanting the car and got a deal I'm happy with but would be nice if I wasn't paying the full price when I'm not getting the full pack. The car is due for delivery in the next 4-5 weeks so I'll find out for sure then whether it has but I'm going to contact the lese company on Monday and see if they know anything.

Looks like the car is already built, if delivery is in 4-5 weeks. It's either waiting in port in Germany or on its way to UK or in UK port already. Ask a dealer to confirm. Why would you wait and see, when you can just ask?

[brittas14]

jules_s said:

Yep - you are absolutely correct

Specifying the build (with the leasing co's I've talked to so far) takes the monthlies so far above the In stock deals I'd be tempted to go PCP or just buy it for cash

I know/hope the cars are out there in the colour I want - I just need to be patient

Often the cost of options is simply added and spread out across the term, so unless it’s really expensive paint options or a very short term it shouldn’t be a big difference, unless the stock cars are being heavily subsidised which I imagine is the case here.

Depends what’s more important to you - the colour or the cost.

[peebie]

jabloko99 said:

Is it normal for the initial payment and first monthly payment to be taken in the same month?
I thought it would be initial payment then the following month the first monthly.

Normally the initial rental takes 7-10 days, reason for this is the delivery paperwork needs returning to the broker or dealer, the broker or dealer will need to send to the funder and the funder will set the deal live. Initial rental 7-10 days from delivery, first rental should be collected 1 month after the delivery date so yes the can take 2 in one month.

[jules_s]

brittas14 said:

jules_s said:

Yep - you are absolutely correct

Specifying the build (with the leasing co's I've talked to so far) takes the monthlies so far above the In stock deals I'd be tempted to go PCP or just buy it for cash

I know/hope the cars are out there in the colour I want - I just need to be patient

Often the cost of options is simply added and spread out across the term, so unless it’s really expensive paint options or a very short term it shouldn’t be a big difference, unless the stock cars are being heavily subsidised which I imagine is the case here.

Depends what’s more important to you - the colour or the cost.

Yep - pretty much

Every company I've contacted to date offer no options (at all) and pretty much a choice of two colours, one of which I have at present

I've found one, correct colour, at a reasonable cost, so it looks like I'm just going buy it and bank the monthlies instead

[CAPP0]

CAPP0 said:

CAPP0 said:

Would appreciate some advice here please on returning a car off lease. MrsC's car its due back next month and it has a chip in the passenger's door like this (20p for scale):



The lease is with PSA/Free2Move and since taking the lease out I've heard they can be difficult on damage/returns. They have sent through a doc saying they abide by BVRLA guidelines, which say "chips of 3mm diameter or less are acceptable". Clearly this is bigger than that. So my question is, what's the best option:

1. Touch it in myself
2. Get Chipsaway round to sort it (Ive had good and bad experiences with that type of repair in the past)
3. Leave it and take the hit from PSA

There is actually another chip in the same panel, about 12" away from that one, it's through to the white primer again but it's much much smaller, well within the 3mm guideline.

Thanks.

Just thought I would follow this up, particularly given the views on Manheim. The car was inspected and collected today.

I did get some touch-up and coloured in that chip, as well as another of a similar size which had appeared on another door since I posted above, and a couple of very noticeable ones on the roof. We spent a lot of time cleaning and polishing it yesterday, and covered it up overnight, and the inspector immediately said how well-presented it was. After half an hour of checking, he apologised for having to put anything down at all but said that he couldn't leave that chip unrecorded (and the second one) as it would definitely be picked up later on if he didn't. I hadn't realised, as it was MrsC's car, but as I cleaned it I found all manner of smaller chips, a small dent in the bonnet, and several gouges on the black plastic work all around the car (she drives in small country lanes a lot, plus the dogs jump in and out of the back which marks the bumper). He didn't even mention any of those, nor did he record a scuff on one wheel. He said that the charges would be £122 per chipped panel, so £244 total (presumably plus VAT) and apologised again for those rates which he thought were extortionate!

All in all I really can't complain about that at all. And the new lease was delivered a couple of hours after the old one went, so all to plan!

And as a final comment on this: I received a letter from PSA yesterday outlining the fact that the assessor had noted damage amounting to £244 (correct, and he didn't note a fair amount of other damage including a wheel). They went on to say, in light of the fact that I am a valued customer (ha, on the back of one short lease!) they would NOT be passing that charge to me.

All good then.

And then it got hilarious.

They noted that the car was returned with 16092 miles on it against a contract mileage of 16000. This amounts to a total excess mileage charge, at 3.75ppm, of £3.45 + VAT, which they WILL be collecting via direct debit

Had the amount been significant I may have gone into bat based on the car being delivered to us with (iirc) 155 miles on it, hence we didn't actually exceed 16k, although I'd have to go back to the contract to check whether delivery miles are included in the contract, but I think I'll just pay the £4.14 and smile

[loskie]

it'll cost them more to process the payment

[Ham_and_Jam]

CAPP0 said:

And as a final comment on this: I received a letter from PSA yesterday outlining the fact that the assessor had noted damage amounting to £244 (correct, and he didn't note a fair amount of other damage including a wheel). They went on to say, in light of the fact that I am a valued customer (ha, on the back of one short lease!) they would NOT be passing that charge to me.

All good then.

And then it got hilarious.

They noted that the car was returned with 16092 miles on it against a contract mileage of 16000. This amounts to a total excess mileage charge, at 3.75ppm, of £3.45 + VAT, which they WILL be collecting via direct debit

Had the amount been significant I may have gone into bat based on the car being delivered to us with (iirc) 155 miles on it, hence we didn't actually exceed 16k, although I'd have to go back to the contract to check whether delivery miles are included in the contract, but I think I'll just pay the £4.14 and smile

The delivery mileage is included with some lenders and not with others, really does depend on the company and contract.

However, I think you can count this as a win.

[jules_s]

It dawned on me in the last couple of days that tying up a pretty significant amount of £££ isn't a great idea vs leasing..

I'd also always assumed a 12+whatever was the best route but it now seems a 9+ is a better option

I think I must have switched 180deg in terms of leasing and colour choice in the last few days which is pissing me off tbh

[tedman]

I’ve signed up for a Cupra Formentor factory order PCH, originally due in September when my current lease (company car) goes back same month. Was going to make do with just my wife’s car for a few weeks if need be, but I’m hearing reports of late 2021/2022 delivery now due to chip shortages at VWG.

What options do people recommend? Get a temporary or cheap daily banger to tie me over or cancel the lease and get a stock car in September? Not sure what costs I will incur.

[PenelopaPitstop]

I would wait a bit and see how it's going. Issue might be resolved and there won't be delay or big delay. I guess, you will know closer to the date, maybe August, and will be able to decide what to do. I wouldn't cancel if you're happy with the price, because other manufacturers have the same problems and choice of other cars might be limited.

[liam quigley 21]

benjo09 said:

Wackywoo105 said:

I know this doesn't help but what deal did you get?

£430 a month for 15k miles per annum, 36 months. Not amazing but its a lot cheaper than the prices I was seeing for smaller SUVs (Q3, X1, GLA).

Thats a really good deal, i ordered mine last month 1/48 @ £480 with tech pack did you have a bigger deposit ?
I spoke to a BMW dealer and they were over £600pm to match it. not heard about the problems with tech pack but mine was a stock order so hopefully its ok.