Lease Deals

Author
Discussion

va1o

16,029 posts

206 months

Tuesday 20th March 2012
quotequote all
At the end of the day it really is just a big game of discounts and residuals, and balancing those 2 against each other.

Deva Link said:
r129sl said:
What will surprise me is if they're still around a year or two from now.
You say that but very low leasing prices have been around for years in the US - some of the deals colleagues over there get are are astonishing.
Agreed. I think (and hope) they are here to stay.

Leithen

10,800 posts

266 months

Tuesday 20th March 2012
quotequote all
Am I right in thinking that the best deals will be found on existing stock rather than factory orders?

Deva Link

26,934 posts

244 months

Tuesday 20th March 2012
quotequote all
swerni said:
Mine was a factory order.
I'm surprised by that. I know you didn't order yours directly from MB but there must be considerable discounting / support from them to get the required pricing, and MB deals are very quarter driven, which usually rules out a factory order as they'll generally cross the quarter-end.

amr2

136 posts

201 months

Tuesday 20th March 2012
quotequote all
I am just waiting on delivery of my new C220 CDI Sport Estate Auto on a lease through my local MB dealership.

3 + 35 on 10K pa at £355 per month.

My spec included a Media Interface up-grade, Becker Sat nav and metallic paint.

I tried shopping around all the usual lease companies and some were very competetive but the MB dealer really wanted my business so I just played hard-ball with them and after a week or so of negotiating got them to within £5 of the lowest equivalent internet company.

I felt happier dealing with MB direct and so secured the deal.

Car is a factory build and not from stock....

Invoice shows a discount of £6500 on list price which I am happy with.

Interestingly, another MB dealer, in the same group wasn't interested in the slightest at negotiating and simply gave a price and said take it or leave it!

His loss.

I can't wait to get my bum in the driver's seat!

AMR2

Deva Link

26,934 posts

244 months

Tuesday 20th March 2012
quotequote all
amr2 said:
Interestingly, another MB dealer, in the same group wasn't interested in the slightest at negotiating and simply gave a price and said take it or leave it!
Weird isn't it? Both yours, and mitchK's above, stories are common the MB forums. Perhaps if the dealers were a bit better they wouldn't have to slash their prices so much?

bmw120d

69 posts

182 months

Tuesday 20th March 2012
quotequote all
Deva Link said:
Weird isn't it? Both yours, and mitchK's above, stories are common the MB forums. Perhaps if the dealers were a bit better they wouldn't have to slash their prices so much?
£239.99 A MONTH WITH VAT +SERV+TAX

galewis

1 posts

144 months

Wednesday 21st March 2012
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I've just taken delivery of a brand new E220 Bluefficiency Convertible Sport with 7 speed auto box and metallic paint, for the stonking price of £299 plus VAT on a 3/23 deal.

Can't see how anyone is making any money out of it.

Gary

DJRC

23,563 posts

235 months

Thursday 22nd March 2012
quotequote all
galewis said:
I've just taken delivery of a brand new E220 Bluefficiency Convertible Sport with 7 speed auto box and metallic paint, for the stonking price of £299 plus VAT on a 3/23 deal.

Can't see how anyone is making any money out of it.

Gary
Perhaps Im being thick...but er why would you consider that a good deal?

Its £350/month for a relatively dull car that is little more than a white good on wheels without a roof. Four door droptops never work anyway, so you lose the whole point of a droptop (i.e. a 2 seater roadster) and yet its still costing you £350 a month to rent it.

The amount it costs over the leasing term would buy a 2-3yr old car now and at the end of that term you would still own the car as an asset to sell and recoup some money.

So am I missing something, or is the single advantage you are getting is that its a "new" car?

Deva Link

26,934 posts

244 months

Thursday 22nd March 2012
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DJRC said:
The amount it costs over the leasing term would buy a 2-3yr old car now...
Even if that was true, so what?

slippery

14,093 posts

238 months

Thursday 22nd March 2012
quotequote all
DJRC said:
galewis said:
I've just taken delivery of a brand new E220 Bluefficiency Convertible Sport with 7 speed auto box and metallic paint, for the stonking price of £299 plus VAT on a 3/23 deal.

Can't see how anyone is making any money out of it.

Gary
Perhaps Im being thick...but er why would you consider that a good deal?

Its £350/month for a relatively dull car that is little more than a white good on wheels without a roof. Four door droptops never work anyway, so you lose the whole point of a droptop (i.e. a 2 seater roadster) and yet its still costing you £350 a month to rent it.

The amount it costs over the leasing term would buy a 2-3yr old car now and at the end of that term you would still own the car as an asset to sell and recoup some money.

So am I missing something, or is the single advantage you are getting is that its a "new" car?
Four door drop top? confused

Leithen

10,800 posts

266 months

Thursday 22nd March 2012
quotequote all
DJRC said:
Perhaps Im being thick...etc...
Not the nicest of welcomes for a new Pistonheads member.

Hope you enjoy your new car galewis, and welcome!

slippery

14,093 posts

238 months

Thursday 22nd March 2012
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Leithen said:
DJRC said:
Perhaps Im being thick...etc...
Not the nicest of welcomes for a new Pistonheads member.

Hope you enjoy your new car galewis, and welcome!
+1. People that harp on about how you could buy a secondhand this or that are tiresome. There is something nice about a brand new car and people should only compare apples with apples.

Deva Link

26,934 posts

244 months

Thursday 22nd March 2012
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slippery said:
+1. People that harp on about how you could buy a secondhand this or that are tiresome.
Plus some people seem to enjoy driving to the ends of the UK to look at cars that turn out to be different from the description, or that the owner never bothered to service etc.

I just can't be arsed with it. It's a heck of lot easier, less time consuming and less stressfull to give someone a call or click the mouse a few times and have a brand-new car delivered.

And, compared to buying a 2-3yr old car and keeping it for 2-3 years, it's probably pretty similar cost wise. It might even be cheaper.


DJRC

23,563 posts

235 months

Thursday 22nd March 2012
quotequote all
So it is just about it being new then?

Its not actually about value for your dosh, its just to get a new car.

Right, thankyou, for clearing that up. Im not missing something afterall. Carry on.

slippery

14,093 posts

238 months

Thursday 22nd March 2012
quotequote all
Deva Link said:
slippery said:
+1. People that harp on about how you could buy a secondhand this or that are tiresome.
Plus some people seem to enjoy driving to the ends of the UK to look at cars that turn out to be different from the description, or that the owner never bothered to service etc.

I just can't be arsed with it. It's a heck of lot easier, less time consuming and less stressfull to give someone a call or click the mouse a few times and have a brand-new car delivered.

And, compared to buying a 2-3yr old car and keeping it for 2-3 years, it's probably pretty similar cost wise. It might even be cheaper.
I actually tend to buy used more often than I buy new, but totally understand peoples motivations for doing either and don't try and judge people for the path they choose to tread. Any car I have ever bought new, has been strongly discounted, or a brand new model which is not available used and my impatience has got the better of me. Both the new and used marketplaces, rely upon one another's existence, to function in the way they do. I tend to tread the bargain barge route and get burnt occasionally and I actually enjoy the chase as much as the car. I understand this is not normal. hehe

ghibbett

1,900 posts

184 months

Thursday 22nd March 2012
quotequote all
But your assuming value is only to do with money. There is also a value to your time and peace of mind. Also:
A new car is easily purchased, as opposed to trekking round looking at used cars.
You also have the peace of mind of a full warranty should you have any problems.
No MOTs to worry about.
It's a new car.

Do the numbers add up? Probably not for all the tangible aspects, but the intangible aspects can and do largely influence the decision.

From another perspective, say the OP is self-employed and needs his car for work. Having days off here and there to sort out car issues can be extremely costly, therefore there is value to having a newer reliable car.

Still, horses for courses and all that. If we all bought / leased new cars, what would happen to the 2nd hand market?

Edited by ghibbett on Thursday 22 March 12:42

r129sl

9,518 posts

202 months

Thursday 22nd March 2012
quotequote all
The total cost under these lease deals seems to be between £6k and £8k. For that, one gets the use and enjoyment of a brand new Mercedes SLK, E-Class Cab, E-Class saloon, whatever, for two years and 20,000miles. That strikes me as very good value.

The alternatives strike me as inferior. One could buy a second hand model for, say, £16-18k. But it will be second hand and in two years time probably worth less than £10k. And it is totally boring trying to find second hand cars that are up to snuff. Nobody seems to look after them anymore. And you have to find the readies now rather than pay a paltry monthly instalment. You could buy a bargain barge, but they're not comparable and they cost big money to keep up.

£8k for 2 years of brand new Mercedes motoring is cheap in anyone's book. I'm highly minded to get an E220 CDI Executive SE Estate (what a mouthful) to keep me out of trouble for the next two years.

ghibbett

1,900 posts

184 months

Thursday 22nd March 2012
quotequote all
r129sl said:
The alternatives strike me as inferior. One could buy a second hand model for, say, £16-18k. But it will be second hand and in two years time probably worth less than £10k. .
And then the hassle of trying to sell it!!

One other thing to mention regarding leasing is that it allows you to fix your monthly costs. You know what you'll be paying without any unexpected surprises. This no doubt works very well for some people.

Fats25

6,260 posts

228 months

Thursday 22nd March 2012
quotequote all
As a former leaser (PCP) through Mercedes, and someone that is looking to purchase a car in next three weeks, I can see both sides to the argument here.

So why did I choose to lease? At the time I had enough money set aside for the 3+23 deal I went for. I did not have enough money to buy a brand new car, and the 3 year old car was also more expensive than the total lease cost. When I returned the car it had cost me approx £12000. The 3 year old car had lost £10,000, the new car I had, had lost £24,000!

So I could have spent £2000 less running a 3-5 year car, rather than a new-2 year car. It worked out very well for me.

So why am I not leasing this time around?

I was very pissed off with the returns policy at Mercedes for the car, they really tried it on, and it took 3 months to reach a fair settlement. Just left a bad taste in the mouth. (There is another thread on here somewhere if you want to read).

So I have decided this time around that it suits my finances, and work situation to buy. I will still lose money, but hopefully not as much as the lease cost, which is what I want this time around - but I will be driving around in a 4-6 year old car now by the time it comes to sell. It may cost me more in servicing, faults etc.

I will no doubt lease again, but this time I do not want to commit to extended payments, and I need this bad taste to leave my mouth on the hand back process.





TangoGTR

1,670 posts

180 months

Thursday 22nd March 2012
quotequote all
Just done a deal on PCP (with guaranteed buy back price) for SLK200 with AMG kit at local MB dealer (Worcester), who were able to get a PCP within £10 a month of best lease I could find out there. So if anyone saw a palladium Silver, with red nappa leather & pano glass sunroof on list of cars available , sorry its gone wink

My understanding is tomorrow is deadline for MB dealers to close deals for Q1,(ensuring client gets car by end of month), where they get some cashback from HQ.

Hopefully keep the missus happy for next couple of years & might get chance to drive it when the sun is out. Must say I was very impressed with the interior on these cars... very classy.