What are the cons of leasing a vehicle?

[zURG]

I am currently in the position of leasing a Merc.. but before I go along with it.. what are the cons and pros?

These cheap A180's are making me give in:
http://www.vehiclesforbusiness.co.uk/personal-leas...

Many Thanks

Edit: Is GAP insurance also worth taking?

Edited by zURG on Friday 22 August 16:58

[Craikeybaby]

If you don't do high miles or trackdays and don't mind keeping your car looking in great condition there are very few. The worst bit about my MX-5 lease was having to hand it back after 2 years.

Obviously, being tied in for x years could be a downside if your situation changes.

[anonymous-user]

zURG said:

I am currently in the position of leasing a Merc.. but before I go along with it.. what are the cons and pros?

These cheap A180's are making me give in:
http://www.vehiclesforbusiness.co.uk/personal-leas...

If anyone can find cheaper please inform me


Many Thanks

I'm thinking of leasing a Merc estate next year as it makes sense for a family wagon. However I'd never consider a leased car 'my car' as it's a glorified rental car.

[Rick1.8t]

The cons are that people on PH will consider you somebody living beyond his means and and a peasent as you could not afford to make the purchase outright.

As above there will also be people too attached to some notion of 'ownership' they cant see the real point in that if you sell a car after 3 years what the hell did it ever matter?

Oh, i hope you earn more than £60kpa too otherwise you will be on the breadline..... again according to PH..

In all seriousness though, read the contract, small print, rules etc and get gap insurance.

Edited by Rick1.8t on Monday 30th June 12:18

[rfoster]

Speak with my friend Jason Ashby @ Glynns Vehicle Contracts - 01273 916222, he has excellent rates on the A Class (AMG Sports I think in particular) and can offer for business or individuals who receive a car allowance. www.glynnsvc.com
FWIW I work for a car leasing company too and Jason's rates are much better than I have.

[zURG]

rfoster said:

Speak with my friend Jason Ashby @ Glynns Vehicle Contracts - 01273 916222, he has excellent rates on the A Class (AMG Sports I think in particular) and can offer for business or individuals who receive a car allowance. www.glynnsvc.com
FWIW I work for a car leasing company too and Jason's rates are much better than I have.

Hmmm, bit of a delboy'ish website, only one Merc A200 though.

Is that all the stock that's listed?

[Divvyboy]

It's has to be done "Ling car leasing""
http://www.lingscars.com/

[zURG]

Divvyboy said:

It's has to be done "Ling car leasing""
http://www.lingscars.com/

Just got epilepsy, mental

[raceboy]

Craikeybaby said:

If you don't do high miles or trackdays and don't mind keeping your car looking in great condition there are very few.

Serious question from someone that has no idea about renting cars....are you not allowed to track them, and how would they possibly know?

[zURG]

anonymous said:

[redacted]

What's the consequences of curbing the tire or some sort?

[xRIEx]

raceboy said:

Craikeybaby said:

If you don't do high miles or trackdays and don't mind keeping your car looking in great condition there are very few.

Serious question from someone that has no idea about renting cars....are you not allowed to track them, and how would they possibly know?

I think "not allowed to..." and "getting caught" are ultimately two separate things. The contracts will state what you can and can't do and a lot of the time they would be none the wiser if these terms are broken. However, if the worst happens on a track (or during any other prohibited activity) it puts you in a very difficult situation.

[senorblm]

zURG said:

What's the consequences of curbing the tire or some sort?

$$$££££££$$$$$€€€€€€€€€€€€€€

[EskimoArapaho]

anonymous said:

[redacted]

Interesting point. I've had an '09 car from new, but I'm considering leasing something to replace it later this year.

Now, my car is in great condition, but has picked up a few minor marks: one small car park ding, a few stone chips, 4x grazed wheel trims, some very mild surface lacquer damage from a short stay under some trees. I live with them.

But if I had leased the car, would I have to pay for any/all of the above to be fixed when handing it back?

[oldaudi]

senorblm said:

$$$££££££$$$$$€€€€€€€€€€€€€€

Also, what your "fair wear and tear" on the car when its returned is different to the owners. Expect when the car is collected for them to go over every paint mark, bird poo scar, stain, scratch, kerb'd wheel and then charge you for it.

Ensure you have GAP ensurance

Ensure you have enough money to cover every payment, just in case your financial situation changes.

Ensure you let the insurance company know its not your car.

Worry every time you park it somewhere.

Ensure it is serviced correctly, probably at a main dealer.

Ensure all the tyres are good when you give it back.

Did I mention GAP insurance?

Going over allowed miles.

If you can afford it, look after your cars and dont get attached to them, go for it

Edited by oldaudi on Monday 30th June 13:12

[Gazado]

Divvyboy said:

It's has to be done "Ling car leasing""
http://www.lingscars.com/

Just. Wow.

[btdk5]

If you lose your job and can't make the payments.....drive the car into a tree.

[zURG]

oldaudi said:

Also, what your "fair wear and tear" on the car when its returned is different to the owners. Expect when the car is collected for them to go over every paint mark, bird poo scar, stain, scratch, kerb'd wheel and then charge you for it.

Ensure you have GAP ensurance

Ensure you have enough money to cover every payment, just in case your financial situation changes.

Ensure you let the insurance company know its not your car.

Worry every time you park it somewhere.

Ensure it is serviced correctly, probably at a main dealer.

Ensure all the tyres are good when you give it back.

Did I mention GAP insurance?

Going over allowed miles.

If you can afford it, look after your cars and dont get attached to them, go for it

Edited by oldaudi on Monday 30th June 13:12

Will take these into account. Many thanks.

[moffat]

Whatever you do don't believe the anti-lease brigade.

Read the T&C's of the chosen manufacturer, most are very fair especially if the lease is 3 years. My car had lots of stone chips and a few small dints and no penalty from MBFS.

The key negatives to leasing are:

1. You don't get the money back from optional extras and they cost you the full amount divided by the term (in a PCP the cost of the extra is considered in the balloon)

2. You are liable for all payments with no voluntary termination clause

That's it really, and if you can find a good car with the options you want as standard you can often find a deal considerably chaeper than PCP or HP.

Don't believe the crap on mileage either, yes you will be penalised if you exceed, but the penalties are very low, on average 6-7p per mile so exceeding by 5000 miles would be around £300.

Most deals include Vehicle Excise Duty (VED) too.

They come from large manufacturer dealers and your local dealer will be happy for the servicing revenue so they won't care if it's not bought from them.

With PCP you can only get to Voluntary Termination when you have paid 50% back, with HP 50% term.

[anonymous-user]

Rick1.8t said:

The cons are that people on PH will consider you somebody living beyond his means and and a peasent as you could not afford to make the purchase outright.

As above there will also be people too attached to some notion of 'ownership' they cant see the real point in that if you sell a car after 3 years what the hell did it ever matter?

Oh, i hope you earn more than £60kpa too otherwise you will be on the breadline..... again according to PH..

In all seriousness though, read the contract, small print, rules etc and get gap insurance.

Edited by Rick1.8t on Monday 30th June 12:18

There is no notion of 'ownership', it is all to do with ownership! As I said above, I'm considering a lease car for family duties however due to the very nature of this website being for enthusiasts, I guess the majority of us like to have a car to tinker with, etc. You can't do that with a lease car.

[Limpet]

Return condition is the biggest one as far as I can work out. Lease companies will go over the car with a fine toothed comb, and want to bill you for anything not deemed wear and tear. Definitions of this vary wildly in my experience. Some are perfectly reasonable, but I had one argue that stone chips on the leading edge of the bonnet of a 90,000 mile (and otherwise pristine) car were not considered wear and tear. A close friend was also charged £400 for a tiny scuff mark in the leather of the rear seat on a BMW 330d - a mark which I reckon a few minutes with a decent leather conditioner would have hidden completely.

It's definitely worth factoring in the cost of a reputable chips-away type outfit, and also a proper car valeter before the car goes back.