Leasing - General Discussion

[Gazzab]

Y-51qbk said:

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.

Vwfs I assume use the standard rules - per below it seems that there are 3 considerations.
1. No charge if scratches below 50mm (across the whole circumference of the wheel).
2. Refurb charge if scratches exceed the above.
3. Replacement charge if chunks, deformed or ‘excessive’.

I assume the issue here is the definition of excessive.
Hopefully you have pics and the pics from the lease co match yours. How do you objectively define the damage v’s the ‘rules’ of the lease?

[R2x]

I had one of my leased cars collected by BCA today.

Everything went well, there was no recorded damage.

The chap drove the car away, but thanks to BMW connected drive app, I can see that it’s been parked on a Main Street in a town about 10 miles from my home since mid afternoon.

For anyone who received extra damage charges after the car has been collected, bare this in mind. Clearly the cars are not always driven straight to a BCA location.

[PenelopaPitstop]

That happens. Guy who collected my car, took it home 5 miles away and then drove it to BCA auction site next day. He told me this himself, when I asked him how many cars he collects, etc.

[ne1892]

Hello, just looking for a bit of advice.

I've got a 24 month lease with VWFS on my A4, due to finish first week of August.

I've just placed an order for one of the Mk8 Golfs and there's every chance that might be here June/July.

I called VWFS to query when my last payment is due and explained why I was querying. The lady did say I could hand the car back early and I'd just need to ring and get a settlement quote.

My question is, having VTed a PCP previously. My understanding is that it didn't impact your credit score but the finance company might be reluctant to give you another car in the future. What impact would handing the car back early have? The new Golf is also with VWFS.

[duckson]

Zero in my experience.
You pay 55% of the outstanding payments for VWFS so worth doing.

[adam-uquz4]

Posting here so I don't clog up the lease deals thread..
Have had a search online... But can't seem to find the info I was looking for.. Hoping some of the brains on here might know more...

I have a ltd company, for which I need to drive some business miles per year.
Until now, I have always had personal leases, and then claimed business miles in personal car @ 45p per mile for 10k miles etc.
Insurance paid personally (inc business use) and servicing etc paid personally.

The 0% (and subsequent 1% and 2% BIK tax has got me considering an EV)

So..
If I lease an EV through my ltd company that I will also use for personal use. (note I'm on 16.5% flat rate so no VAT savings)
1 - I will save 20% vs personal lease, as the lease cost is taken out pre-corporation tax?
2 - I pay 0% BIK tax 2020-2021, 1% 2021-22 and 2% 2022-2023?
3 - Can I pay for insurance and servicing through the ltd company too, even though I will be using it for personal use as well?
4 - Can I still claim 45p per for business use :/ ?
5 - If its charged at home, can I expense my business for electric costs for charging it?

Thanks in advance.

[PenelopaPitstop]

ne1892 said:

Hello, just looking for a bit of advice.

I've got a 24 month lease with VWFS on my A4, due to finish first week of August.

I've just placed an order for one of the Mk8 Golfs and there's every chance that might be here June/July.

I called VWFS to query when my last payment is due and explained why I was querying. The lady did say I could hand the car back early and I'd just need to ring and get a settlement quote.

My question is, having VTed a PCP previously. My understanding is that it didn't impact your credit score but the finance company might be reluctant to give you another car in the future. What impact would handing the car back early have? The new Golf is also with VWFS.

If Golf arrives in June/July, you can probably delay collection until August no problem. I signed up for stock car mid-July and dealer was happy to keep it for me until end of quarter.

Also, as above, early settlement is only 55% of payment. It may allow you to skip service if it's 2y deal or MOT and service at 3y.

adam-uquz4 said:

Posting here so I don't clog up the lease deals thread..
Have had a search online... But can't seem to find the info I was looking for.. Hoping some of the brains on here might know more...

I have a ltd company, for which I need to drive some business miles per year.
Until now, I have always had personal leases, and then claimed business miles in personal car @ 45p per mile for 10k miles etc.
Insurance paid personally (inc business use) and servicing etc paid personally.

The 0% (and subsequent 1% and 2% BIK tax has got me considering an EV)

So..
If I lease an EV through my ltd company that I will also use for personal use. (note I'm on 16.5% flat rate so no VAT savings)
1 - I will save 20% vs personal lease, as the lease cost is taken out pre-corporation tax?
2 - I pay 0% BIK tax 2020-2021, 1% 2021-22 and 2% 2022-2023?
3 - Can I pay for insurance and servicing through the ltd company too, even though I will be using it for personal use as well?
4 - Can I still claim 45p per for business use :/ ?
5 - If its charged at home, can I expense my business for electric costs for charging it?

Thanks in advance.

1. Yes, lease is a cost.
2. Yes
3. Yes, it's a company car.
4. No. It's a company car, so you can't claim business miles on it.
5. Probably. Not sure about it.

So it's worth calculating what's better for you. Taking lease through company or privately and pay yourself business miles.

Edited by PenelopaPitstop on Thursday 14th January 14:24

[adam-uquz4]

PenelopaPitstop said:

ne1892 said:

Hello, just looking for a bit of advice.

I've got a 24 month lease with VWFS on my A4, due to finish first week of August.

I've just placed an order for one of the Mk8 Golfs and there's every chance that might be here June/July.

I called VWFS to query when my last payment is due and explained why I was querying. The lady did say I could hand the car back early and I'd just need to ring and get a settlement quote.

My question is, having VTed a PCP previously. My understanding is that it didn't impact your credit score but the finance company might be reluctant to give you another car in the future. What impact would handing the car back early have? The new Golf is also with VWFS.

If Golf arrives in June/July, you can probably delay collection until August no problem. I signed up for stock car mid-July and dealer was happy to keep it for me until end of quarter.

Also, as above, early settlement is only 55% of payment. It may allow you to skip service if it's 2y deal or MOT and service at 3y.

adam-uquz4 said:

Posting here so I don't clog up the lease deals thread..
Have had a search online... But can't seem to find the info I was looking for.. Hoping some of the brains on here might know more...

I have a ltd company, for which I need to drive some business miles per year.
Until now, I have always had personal leases, and then claimed business miles in personal car @ 45p per mile for 10k miles etc.
Insurance paid personally (inc business use) and servicing etc paid personally.

The 0% (and subsequent 1% and 2% BIK tax has got me considering an EV)

So..
If I lease an EV through my ltd company that I will also use for personal use. (note I'm on 16.5% flat rate so no VAT savings)
1 - I will save 20% vs personal lease, as the lease cost is taken out pre-corporation tax?
2 - I pay 0% BIK tax 2020-2021, 1% 2021-22 and 2% 2022-2023?
3 - Can I pay for insurance and servicing through the ltd company too, even though I will be using it for personal use as well?
4 - Can I still claim 45p per for business use :/ ?
5 - If its charged at home, can I expense my business for electric costs for charging it?

Thanks in advance.

1. Yes, lease is a cost.
2. Yes
3. Yes, it's a company car.
4. No. It's a company car, so you can't claim business miles on it.
5. Probably. Not sure about it.

So it's worth calculating what's better for you. Taking lease through company or privately and pay yourself business miles.

Edited by PenelopaPitstop on Thursday 14th January 14:24

Thank you for the reply.

I might bite on the EV if I see a good deal for 24 months.

[GaryG182]

Anyone here in the same situation as me? 6 months until lease car goes back and significantly under contract mileage! I've only done 9,000 in the M2, allowance is 20,000...I reckon even if I fit in a Le Mans trip (or any road trip I'm allowed to do!) before it goes back it will be 7,000 miles under the contracted 20k.

Any options? Can I renegotiate the contract with Alphabet GB and pay less per month for the remainder of the contract to take into account the low miles? If not, perhaps an extension of the contract with mileage allowance staying the same?

[PenelopaPitstop]

Call them and ask.

[anonymous-user]

GaryG182 said:

Anyone here in the same situation as me? 6 months until lease car goes back and significantly under contract mileage! I've only done 9,000 in the M2, allowance is 20,000...I reckon even if I fit in a Le Mans trip (or any road trip I'm allowed to do!) before it goes back it will be 7,000 miles under the contracted 20k.

Any options? Can I renegotiate the contract with Alphabet GB and pay less per month for the remainder of the contract to take into account the low miles? If not, perhaps an extension of the contract with mileage allowance staying the same?

Let us know how you get on if you call them.

I think an awful lot of people are going to be in the same boat (I'm going to be around 6k miles below my allowance) - in a 'normal' year you'd probably stand a reasonable chance of renegotiating, not sure about now.

[Dannyt1990]

Hi,

I am currently halfway through a 1 + 17 PCH and had a change in circumstances so enquired about returning

The finance company replied to say that if I speak to a local Peugeot garage and see if they want to purchase the car from them, then I can get out of the deal early with no fees or penalties

I'm tempted to speak to them as the finance company has told me the agreement can't be transferred to another person and would have to pay the remainder I owe on the agreement to return early (this isn't an issue, it was the terms in the contract)

I've never heard of something like this on a PCH - wondering if anyone else has, is this a likely thing for the dealership to do etc

Thanks

[GaryG182]

doesthiswork said:

Let us know how you get on if you call them.

I think an awful lot of people are going to be in the same boat (I'm going to be around 6k miles below my allowance) - in a 'normal' year you'd probably stand a reasonable chance of renegotiating, not sure about now.

Probably similar amount under for me also, depending on how things pan out.

I have tried calling but, you know, lines busy due COVID blahhh. Emailed and got a reply, sending to contract team 3-5 days for quote. I also asked about informal extensions but that got ignored.

[Richard-51tz1]

Hi All

I currently have VW Pashat on lease goes back in August (cant come too soon) anyway some plank reversed into me whilst I was parked in a car park. The damage is minimal and there is a couple of scuffs but the bumper has come out of its clips slightly. I have been given a quote of £50 just to put the bumper back on correctly. Is it worth it as I know the lease repairs from VWFS are very reasonable. Anyone had a similar issue?.

[Gazzab]

Richard-51tz1 said:

Hi All

I currently have VW Pashat on lease goes back in August (cant come too soon) anyway some plank reversed into me whilst I was parked in a car park. The damage is minimal and there is a couple of scuffs but the bumper has come out of its clips slightly. I have been given a quote of £50 just to put the bumper back on correctly. Is it worth it as I know the lease repairs from VWFS are very reasonable. Anyone had a similar issue?.

VW set out their costs - you can Google them. You can then work out what the damage definition is (ie severity) and what they will charge. It’s rarely worth repairing it yourself. I did have a couple of ‘golf ball’ dents on my Golf. I decided to get them repaired as a) it wasn’t that expensive and b) I hated to see them !

[Gazzab]

https://customer.vwfs.co.uk/content/dam/bluelabel/...

[Richard-51tz1]

Gazzab said:

https://customer.vwfs.co.uk/content/dam/bluelabel/...

Top man just what I was looking for based on that looks like max £150 which I can more than live with.

[R2x]

Richard-51tz1 said:

Hi All

I currently have VW Pashat on lease goes back in August (cant come too soon) anyway some plank reversed into me whilst I was parked in a car park. The damage is minimal and there is a couple of scuffs but the bumper has come out of its clips slightly. I have been given a quote of £50 just to put the bumper back on correctly. Is it worth it as I know the lease repairs from VWFS are very reasonable. Anyone had a similar issue?.

I’ve had worse than that on 2 of my lease returns (scuffed front corner bumper, scratched passenger door, 5 or 6 parallel scratches along the lower part). Based on these, and the fact the BCA guys didn’t even point them out let alone charge me, I expect you’ll be fine

[PenelopaPitstop]

Might be worth spending £50 to put bumper back in position. Light scratches are £55. Any chance of polishing them out?

Some info for Leasys customers.

I have Abarth 124 Spider on 6 + 23 x £219, 10K miles pa. I asked about different options and got following answers:

1. It's possible to keep car for 5 months on unofficial extension, the same price, no extra miles. I knew about it from the forum already.
2. Official extension for 12 months: £347 pcm. No thank you.
3. Purchase price for 22 months old car at 15K miles was quoted at £17450. Plus cost of early termination. I have 3 more months left.

I must say, I'm a bit disappointed by purchase price. I read about people buying their Abarths after 24 month for £15-16K max. I will ask for another quote 2 weeks before end of the contract, to see if price changes. It will be after plate change and car will be more than 2y old. If it's still unfavourable, I will extend for 5 months. Unofficial extension can be ended any time.

Covid used car price hikes are affecting my lease second time. Last year, I counted on low purchase price of Audi A8, but then Covid came and prices didn't go down as expected. Now, the same thing is happening with Abarth. Retail price for 19 plate Abarth starts from £18450 for car without service history. There are only 3 for sale.

Just to add, Leasys is much more efficient with coming back by email. I think external company is doing administrative work. I sent email on Thursday and got answer on Sunday. And to get purchase price, I sent email in the morning and got answer couple of hours later. Much better communication than with VWFS pre-Covid times, when you had to wait 10-14 days for anything.

Edited by PenelopaPitstop on Tuesday 19th January 10:00

[TheDrownedApe]

LOL just had an emial from Stoneacre leasing with their "best deals". there were 6 deals on the email and all of them were for 12+47. have all these compaines now resorted to click bait instead of showing genuine decent deals?

and yes I've unsubscribed now