Leasing - General Discussion

[R2x]

Sebba said:

Can I get the pros & cons of putting down a high deposit for a lease? I know the obvious disadvantage of the initial outlay (& possible better use of the cash etc) but any others? What happens if the finance company goes bust?

I am considering leasing for 3 years & looking to put down 10k as initial downpayment; a couple of reasons: 1) overall cost is slightly cheaper 2) monthly outgoings are low & if i do decide to move and require a mortgage, my outgoings will look low.

May be a flawed thought process but any advice would be welcome.

Edited by Sebba on Sunday 10th January 15:26

If you are receiving a noticeable saving by putting down a big deposit, then I’d say go for it. As has already been said, gap insurance would be advisable.

Most of the leases I’ve had were generally the same total amount payable (give or take £20) over the term regardless of deposit, so I’ve taken the view to put in no more than 3 months up front as 10k is better earning interest or in a premium bonds account.

[loskie]

if you want to put down a bigger deposit maybe it's HP or PCP with a view to buying at end of term that would suit you better.

With interest rates so low a larger deposit is going to save you very little money AND if the car is written off or stolen the insurance co will settle the outstanding with the lease co. Of course the outstanding is greatly reduced as you paid it up front.

[Gazzab]

Sebba said:

Gazzab said:

I think it means you will need gap insurance. If you write it off or it’s stolen you don’t want to be out of pocket

Apologies but not sure I am with you? Do you mean that if the car gets stolen in month 2 (for example), the money I have paid in is a lost cause & I will still be liable for the shortfall of the car's cost? So double whammy in effect?

Do some research and work out your personal position with this. It’s worth looking into.

[PenelopaPitstop]

Sebba said:

Can I get the pros & cons of putting down a high deposit for a lease? I know the obvious disadvantage of the initial outlay (& possible better use of the cash etc) but any others? What happens if the finance company goes bust?

I am considering leasing for 3 years & looking to put down 10k as initial downpayment; a couple of reasons: 1) overall cost is slightly cheaper 2) monthly outgoings are low & if i do decide to move and require a mortgage, my outgoings will look low.

May be a flawed thought process but any advice would be welcome.

I haven't seen any PCH what wanted more than 5K upfront (Mustang with CVL). But most GAP insurers offer cover up to £3K. So whatever you put above insured amount and car is written off, you will lose it.

[Y-51qbk]

Hi guys,

I’m being taken to court by Total Motion/Pink leasing for end of lease damage charges which I refute. I’ve got a court letter from Northampton business centre court advising I have to go online and submit a MCL. Does anyone have experience of doing this and useful tips.

Also just a heads up stay well clear of total motion/pink leasing, the price will look cheap upfront but you will
be whacked excessively at the end, there google reviews speak for themselves.

[essayer]

What are they claiming for?

[Y-51qbk]

essayer said:

What are they claiming for?

4 kerbed alloys £900

[essayer]

How badly damaged were they? Which car? £225 is a lot for one wheel

[Gazzab]

essayer said:

How badly damaged were they? Which car? £225 is a lot for one wheel

Surely it’s down to a) what’s the contract say? B) what condition were the in and c) do you have evidence ?

[anonymous-user]

Were the wheels damaged more than the fair wear and tear limits in the BVRLA guidance? They are BVRLA members so should have given you a copy of the guide.

[Y-51qbk]

The wheels had some light damage which should have fallen under fair wear and tear. I complained to BVRLA who rejected my complaint (I’ve since found out the lease companies fund this body) When that guy collected the car he marked it as good and he was happy with the condition of the car.

[anonymous-user]

Just to be clear, are you saying you think they were fair wear and tear, or have you compared them with the guide and they were within the BVRLA fair wear and tear guidelines? The reason I ask is that one person’s definition can be very different from someone else’s and it’s the guide which should be used to determine what is ok or not.

If they’re within the guidelines then I don’t see this going anywhere at court. Can you post an example picture?

Edited by anonymous-user on Monday 11th January 02:13

[Pulse00]

Y-51qbk said:

4 kerbed alloys £900

They tried charging me for alloy wheel scuffs with photos that weren't from my car... either that or the collection agent can't drive very well! I took photos the day before collection and couldn't match them up with the photos they sent me at all. They also tried charging me for a panel dent that wasn't there either. I sent them my photos and they revised their charges straight away.

The cheek though of sending me photos of someone else's badly damaged wheels... just like you the collection agent went over the car with me and found absolutely nothing...

Wasn't there a whole thread about them making up similar charges on here? Maybe the court would like a link...

Edited by Pulse00 on Monday 11th January 02:50

[ib170]

Y-51qbk said:

4 kerbed alloys £900

That's an absolute joke. Assuming they're not wrecked, it will cost them less than half that to have them refurbed.

[maz8062]

Y-51qbk said:

essayer said:

What are they claiming for?

4 kerbed alloys £900

Is that plus VAT? That sounds like a lot better

[PenelopaPitstop]

I found a few more posts about damage charges from Pink Leasing:
https://www.pistonheads.com/gassing/topic.asp?h=0&...
https://www.pistonheads.com/gassing/topic.asp?h=0&...

Might be useful in court battle. There are also single posts in Best Leasing deals. Best to do google search on site: pistonheads.com without space after :

[Y-51qbk]

PenelopaPitstop said:

I found a few more posts about damage charges from Pink Leasing:
https://www.pistonheads.com/gassing/topic.asp?h=0&...
https://www.pistonheads.com/gassing/topic.asp?h=0&...

Might be useful in court battle. There are also single posts in Best Leasing deals. Best to do google search on site: pistonheads.com without space after :

Thanks for your help. It’s a complete p*sstake. I have completed court forms and will keep you guys updated on how I get on.

[anonymous-user]

Given you don’t seem to want to answer whether the wheels were damaged or not and how badly, what’s your defence going to be?

[essayer]

perhaps it was on bricks when Mannheim came to collect it

[Y-51qbk]

charltjr said:

Given you don’t seem to want to answer whether the wheels were damaged or not and how badly, what’s your defence going to be?

The wheels had damage to the outer rim, a few scratches but not chunks missing and the damage should be covered under wear and tear.