Leasing - General Discussion

[jabloko99]

PenelopaPitstop said:

If something goes wrong and it's not collected on 14th, you will have to do the MOT then. Maybe return it 2-3 days earlier, to avoid any problems.

When I returned my last car, guy came to collect it and said he takes it home and drives it next day to auction site. So, one day of MOT validity could be a problem in such case.

Thanks I'll book an MOT .

[senwar]

My car went back yesterday (XC40, Santander/Volvo lease).

How long does it usually take for the final invoice to be sent? Also, I have a payment due on 28th (they did say they'd stop payments from 23rd). What is the likelihood this will still be taken, any ideas? presume I don't want to cancel direct debit until the final payment has been taken?

[T37DR]

My current lease (36 months) is coming to an end and I will be likely getting a 6 month formal extension (Mini Countryman S). Do you have any suggestions for taking out a new gap insurance? And is it actually worth taking one for an extension? Current market value is around 15000 pounds- Hitachi asked for 18500 if I wanted to buy it so I assume that this is the value that they have in mind.

ALA seems to offer gap insurance if you took hold of the car in the last year and most providers give you 2 year quotes. I suspect the invoice value that they ask is the current market price of the vehicle rather than the original invoice price.


Thanks in advance

[GaryG182]

T37DR said:

My current lease (36 months) is coming to an end and I will be likely getting a 6 month formal extension (Mini Countryman S). Do you have any suggestions for taking out a new gap insurance? And is it actually worth taking one for an extension? Current market value is around 15000 pounds- Hitachi asked for 18500 if I wanted to buy it so I assume that this is the value that they have in mind.

ALA seems to offer gap insurance if you took hold of the car in the last year and most providers give you 2 year quotes. I suspect the invoice value that they ask is the current market price of the vehicle rather than the original invoice price.


Thanks in advance

Sorry can’t help RE the Gap insurance but just wondered if your mini was with Alphabet GB and what the deal is with regards to the 6 month formal extension?

[T37DR]

GaryG182 said:

Sorry can’t help RE the Gap insurance but just wondered if your mini was with Alphabet GB and what the deal is with regards to the 6 month formal extension?

It is with hitachi and the quote is around 245 a month for a formal extension (8k pa pro rata) vs 270 which is my current rental (9+35 profile). Not an initial great deal in retrospect but at the time I was not aware of the lease deals thread on PH!
I thought the price to purchase was quite high given that similar cars with 15000 miles or so have been advertised on autotrader at around 18500 pounds or less and have not been sold for the last 8-9 weeks.

[Mark V GTD]

jabloko99 said:

My car goes back 14/12.MOT due 15/12 should I just leave it to them?

PenelopaPitstop said:

When I returned my last car, guy came to collect it and said he takes it home and drives it next day to auction site. So, one day of MOT validity could be a problem in such case.

Yes but its their problem, not yours. Its a lease car, the lease is finished and the owners responsibility to put an MOT on it if required.

jabloko99 said:

Thanks I'll book an MOT.

Don't bother - its not your car or your problem. If the pick up is delayed its their problem (just don't drive it - which you would not have been able to do anyway had they picked it up on time)

Edited by Mark V GTD on Tuesday 24th November 19:22

[PenelopaPitstop]

I think it's easier to book return a few days earlier or to do MOT for £25, than face potential issues.

Person inspecting the car can be annoyed by things like empty fuel tank, one day MOT (if he was going to travel in the car next day somewhere), etc. And if you annoy inspector, he can be harsh with valuing any existing damage or finding non-existing one and put charges on final bill. Of course you can dispute it later, but it will be a hassle.

There was a story here about the guy who left almost empty fuel tank and annoyed person collecting car. He got a lot of charges on final bill.

[griffster]

griffster said:

High 'Deposit' / low mthly / average Credit Rating personal car leasing deals?

Whilst I am fortunate to have a solid financial bank acct audit trail for more than 6 mths and a credit reference from my property lease agent showing good 20 yr history, I havent returned elec role record for years - so dont conform to standard tick boxes (I also have evidence of living between 2 addresses, one leased and one owned for many years) -

I do however have solid evidence of substantial lease payment history and willing to pay up to half of a 2yr EV lease deal up front and minimise credit exposure to sub £250pcm, poss sub £200

No experience / lnks anyone?

I am looking for finance companies / leasing agents who recognise this offer is better than their typical exposure and offer terms that reflect this - any links plse?

Looking for something like the current E Nero lease, ideally at a little better rates to reflect up front payment of £3.5k

[NeilMick]

For a lease, if you've placed the order but not yet signed the finance documents, when does your 14 day cooling off period begin?

From placing the order or from when the agreement has been signed?

[Tomo1971]

NeilMick said:

For a lease, if you've placed the order but not yet signed the finance documents, when does your 14 day cooling off period begin?

From placing the order or from when the agreement has been signed?

From when the agreement is signed by you.

[Mark V GTD]

PenelopaPitstop said:

I think it's easier to book return a few days earlier or to do MOT for £25, than face potential issues.

A missing MOT will not upset the driver - that does not have any bearing on his inspection or ability to drive the car away - the lease company take care of that. Not having a reasonable amount of fuel in the car or presented to him filthy will *iss him off.

Why would anyone go to the trouble, time and expense of putting an MOT on a three year lease car - you just wouldn't do it as its not your car and not your responsibility (same as it is with taxing the car).

[A-G]

Hey, i'm a newbie to this leasing game.
Trying to find a good lease for my other half as she is currently on a stupidly expensive PCP deal - what happens with servicing or if something goes wrong with the car?
E.g. a VW Golf from Leaseloco - where does it go for its servicing, MOT or any issues?

Thanks

[Gazzab]

A-G said:

Hey, i'm a newbie to this leasing game.
Trying to find a good lease for my other half as she is currently on a stupidly expensive PCP deal - what happens with servicing or if something goes wrong with the car?
E.g. a VW Golf from Leaseloco - where does it go for its servicing, MOT or any issues?

Thanks

Service at VW which you pay for unless you buy a service plan.
You won’t need an mot.
Warranty will cover any breakdown type failures.
Insurance will cover bodywork repairs.

[griffster]

Cant give money away................

High 'Deposit' / low mthly / average Credit Rating personal car leasing deals?

Whilst I am fortunate to have a solid financial bank acct audit trail for more than 6 mths and a credit reference from my property lease agent showing good 20 yr history, I havent returned elec role record for years - so dont conform to standard tick boxes (I also have evidence of living between 2 addresses, one leased and one owned for many years) -

I do however have solid evidence of substantial lease payment history and willing to pay up to half of a 2yr EV lease deal up front and minimise credit exposure to sub £250pcm, poss sub £200

No experience / lnks anyone?

I am looking for finance companies / leasing agents who recognise this offer is better than their typical exposure and offer terms that reflect this - any links plse?

Looking for something like the current E Nero lease, ideally at a little better rates to reflect up front payment of £3.5k

[Tomo1971]

Only had the signed agreement back on the 22nd Nov, is it usual that the broker has ordered the car within the 14 day cooling off period?

Not complaining of course, just didn't seem the norm.

[Alfredo20]

Hi guys, my Seat Leon is due its first service. Does it have to be done by a Seat dealership?

[Ham_and_Jam]

Alfredo20 said:

Hi guys, my Seat Leon is due its first service. Does it have to be done by a Seat dealership?

Read your contract. There will be a section relating to servicing requirements.

Some allow you to service at vat registered non main dealer service centres (using genuine parts), some don’t.

Some PHers have serviced them at non main dealers even when it says you can’t, and had no come backs, as they weren’t checked upon return.

I have serviced my Jag at an indy garage, but made enquiries first, and I suggest that is the route you take rather than ask here as it really depends on what you have signed.

[R2x]

griffster said:

Cant give money away................

High 'Deposit' / low mthly / average Credit Rating personal car leasing deals?

Whilst I am fortunate to have a solid financial bank acct audit trail for more than 6 mths and a credit reference from my property lease agent showing good 20 yr history, I havent returned elec role record for years - so dont conform to standard tick boxes (I also have evidence of living between 2 addresses, one leased and one owned for many years) -

I do however have solid evidence of substantial lease payment history and willing to pay up to half of a 2yr EV lease deal up front and minimise credit exposure to sub £250pcm, poss sub £200

No experience / lnks anyone?

I am looking for finance companies / leasing agents who recognise this offer is better than their typical exposure and offer terms that reflect this - any links plse?

Looking for something like the current E Nero lease, ideally at a little better rates to reflect up front payment of £3.5k

I see you have posted this a few times, and I would suggest that the reason no one has yet replied is that it’s impossible to give an answer.

No one knows exactly what criteria a bank/finance company lends against at any given time, except for those who define it. Even then, the criteria changes regularly.

If you were to review various online deals you may see that the effective/average monthly cost of a lease is broadly the same regardless of your deposit, I.e. whether you go for 6+23 or 9+23 you end up paying the same in total. It may vary by £0.10 up to £1.00 per month but you rarely see “better rates” for larger upfront payments on a PCH.

The only way to know for sure if you will be accepted for credit is to apply. If it is declined, the finance company will rarely tell you why, or which of their criteria you did not meet.

[R2x]

Tomo1971 said:

Only had the signed agreement back on the 22nd Nov, is it usual that the broker has ordered the car within the 14 day cooling off period?

Not complaining of course, just didn't seem the norm.

Not particularly odd, as if you were to cancel it would likely just go to someone else.

I had an Audi S3 on PCH a few years ago, it was a factory order with something like a 4 month lead time.

The leasing company called me up 3 weeks after my order and offered me a car in the same colour but with different interior, but for immediate delivery.

I assumed this was available due to a cancellation, and the car ordered for me would - 3 months later when it arrived - just become part of Harwoods’ central stock, or else be offered to another leaser.

[Sten.]

Sten. said:

Yet another damage question. Very annoyingly after 2 years incident free with my E class I managed to whack it into a small bollard a couple of weeks before its due to go back. Idiot that I am.

Some damage to the arch liner, wing, side skirt.




The car is with ALD. I can't seem to find many answers online but I'm guessing I'll be charged a fortune for this? Debating whether to get it fixed or take the pain of being charged. I'm struggling for time to get it fixed and I'm also worried if it doesn't get repaired to the required standard ill end up getting charged anyway.

Just thought I'd provide an update on this. I took the car for a quote to repair at a local bodyshop who wanted £1400, including a new wing, side skirt, arch liner and paint.

I decided to take my chances with the charges on returning the car.

BCA came out to do a collect/inspection and my total charges were.. £270 for 3 kerbed alloys. Not a penny for the above damage.

Pleased to say the least!