Keep current 130i or take a lease on a new m135i?
Discussion
Evening all,
I'm currently in the position whereby i'm very seriously considering selling my 2006 130i to fund a two year lease on an m135i at a super duper rate of 209 per month excluding vat.
Having never leased a car I must admit i am somewhat suspicious of some of the deals available and how they can possibly be viable for the supplying company. My dad (long standing car adviser) is even more strongly of this opinion and basically thinks that any lease deal is a scam - especially some of the deals on the m135i! Now i know this is not the case but can anyone explain how these deals are possible - they seem to good to be true.
Secondly, the decision making process is an interesting one and i hoped someone could help me with some man maths to justify either option. At the moment i see the lease as costing about 2k more over the 2 year period but am open to other calculations/man maths justification to go for the new car!
Finally it would be good to hear from some people who have leased a car - have you ever been stung with hidden costs? What must i know before jumping into this?
Thank you in advance for the advice.
I'm currently in the position whereby i'm very seriously considering selling my 2006 130i to fund a two year lease on an m135i at a super duper rate of 209 per month excluding vat.
Having never leased a car I must admit i am somewhat suspicious of some of the deals available and how they can possibly be viable for the supplying company. My dad (long standing car adviser) is even more strongly of this opinion and basically thinks that any lease deal is a scam - especially some of the deals on the m135i! Now i know this is not the case but can anyone explain how these deals are possible - they seem to good to be true.
Secondly, the decision making process is an interesting one and i hoped someone could help me with some man maths to justify either option. At the moment i see the lease as costing about 2k more over the 2 year period but am open to other calculations/man maths justification to go for the new car!
Finally it would be good to hear from some people who have leased a car - have you ever been stung with hidden costs? What must i know before jumping into this?
Thank you in advance for the advice.
The deals are there, the costs are real and often cheaper than buying and taking depreciation into account.
You need to go in with your eyes open. You won't get stung if you pay the monthly figures and return the car in line with the lease companies terms and conditions and within the term mileage.
Aside from mileage their terms are basically fair wear and tear but with their definition of fair wear and tear, not yours.
Return the car in a state and you WILL be out of pocket. Return it with no damage, some stone chips in line with age/mileage and the odd scratch and you'll be fine.
You can ask to view the lease companies T&C's prior to signing on the line if you're unsure, that will outline their definition of FW&T.
I've already stated on a previous thread that come 24 months time when private individuals start to return cars there will be threads discussing how unfair lease companies terms are, but as I say, go in with your eyes open and you'll be fine.
You need to go in with your eyes open. You won't get stung if you pay the monthly figures and return the car in line with the lease companies terms and conditions and within the term mileage.
Aside from mileage their terms are basically fair wear and tear but with their definition of fair wear and tear, not yours.
Return the car in a state and you WILL be out of pocket. Return it with no damage, some stone chips in line with age/mileage and the odd scratch and you'll be fine.
You can ask to view the lease companies T&C's prior to signing on the line if you're unsure, that will outline their definition of FW&T.
I've already stated on a previous thread that come 24 months time when private individuals start to return cars there will be threads discussing how unfair lease companies terms are, but as I say, go in with your eyes open and you'll be fine.
Interesting.
For me the jump from a 130i (owned outright) to an M135i (monthly payment) isn't enough to make me want to take it on.
I really enjoy not having a payment despite being able to comfortably take one on. I think the relative bang for buck of the 130i is a very sweet spot. 30k for a hot hatch? Not so much.
When I do move the 130i on it will be something with a bit more personality, not another hatch. Maybe back into a Cayman or Boxster if it's sunny.
For me the jump from a 130i (owned outright) to an M135i (monthly payment) isn't enough to make me want to take it on.
I really enjoy not having a payment despite being able to comfortably take one on. I think the relative bang for buck of the 130i is a very sweet spot. 30k for a hot hatch? Not so much.
When I do move the 130i on it will be something with a bit more personality, not another hatch. Maybe back into a Cayman or Boxster if it's sunny.
I did this last year, so far I really like the 135 over the 130. I think what's really swinging it for me is the ride and autobox - it makes it a far more useable cruiser than the 130 ever was.
I chose the PCP route rather then buying it. I'd echo what others are saying - the costs are real, but it has Ts and Cs that come with the deal and you need to be aware of these. So I'm always aware of the mileage limit I signed up to, and sometimes I use our other car to keep it down. It's not a big thing for me, but I am aware of it.
As far as the maths goes you'll have to look at your own circumstances. The depreciation on the 130 will be lower than the 135 I'd guess, but then you'll get 2 years of no hassle if anything goes wrong, and possibly be better mpg. Over all I'd guess the 130 would be a cheaper proposition, but maybe not by that much.
I'd had my 130 for just over 5 years and I decided I could justify the change; the 135 ticked most of the boxes for me.
I chose the PCP route rather then buying it. I'd echo what others are saying - the costs are real, but it has Ts and Cs that come with the deal and you need to be aware of these. So I'm always aware of the mileage limit I signed up to, and sometimes I use our other car to keep it down. It's not a big thing for me, but I am aware of it.
As far as the maths goes you'll have to look at your own circumstances. The depreciation on the 130 will be lower than the 135 I'd guess, but then you'll get 2 years of no hassle if anything goes wrong, and possibly be better mpg. Over all I'd guess the 130 would be a cheaper proposition, but maybe not by that much.
I'd had my 130 for just over 5 years and I decided I could justify the change; the 135 ticked most of the boxes for me.
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