Personal Car Leasing
Discussion
Hi and thanks for taking the time to read my post.
I am looking to lease two cars and my accountant has advised to do this via a personal route and not business. Having looked through the web monthly rates seem to vary wildly and so do the deposits - many stories of companies tempting with low monthly payments and then keeping the deposit and adding extra costs at the end which makes them v expensive.
I wanted to hear from people who have completed at least one lease and what advise they would give in terms of things to check/look out for, things they learnt after the period and would watch out for next time and if there are any recommendations on companies as there seem to be a lot out there.
I will be leasing the new RR Sport and a C63 or M3 depending on what combo gives the best deal.
Thanks,
Alastair
I am looking to lease two cars and my accountant has advised to do this via a personal route and not business. Having looked through the web monthly rates seem to vary wildly and so do the deposits - many stories of companies tempting with low monthly payments and then keeping the deposit and adding extra costs at the end which makes them v expensive.
I wanted to hear from people who have completed at least one lease and what advise they would give in terms of things to check/look out for, things they learnt after the period and would watch out for next time and if there are any recommendations on companies as there seem to be a lot out there.
I will be leasing the new RR Sport and a C63 or M3 depending on what combo gives the best deal.
Thanks,
Alastair
My understanding is RR Sports are horrible on leases at the moment.
You will also struggle with a C63 as getting hold of outgoing shape is impossible, new ones not out yet.
My recommendation will always work on a effective monthly cost (i.e. add up the deposit and the monthlies / divided by term). Makes it much easier to compare.
Usually, you need to watch your options as can really shoot up the lease cost.
Apart from that, nothing really to watch out for so to speak. So many brokers offer the same service of putting you in touch with the dealer/arranging the finance. Just go with the one offering the best deal.
Check out the lease thread as tons of info in there: http://www.pistonheads.com/gassing/topic.asp?h=0&a...
Hope that helps a little.
You will also struggle with a C63 as getting hold of outgoing shape is impossible, new ones not out yet.
My recommendation will always work on a effective monthly cost (i.e. add up the deposit and the monthlies / divided by term). Makes it much easier to compare.
Usually, you need to watch your options as can really shoot up the lease cost.
Apart from that, nothing really to watch out for so to speak. So many brokers offer the same service of putting you in touch with the dealer/arranging the finance. Just go with the one offering the best deal.
Check out the lease thread as tons of info in there: http://www.pistonheads.com/gassing/topic.asp?h=0&a...
Hope that helps a little.
jas xjr said:
the use of the word depiosit is rather misleading . it is an initial payment that you do not get back.
Sorry to be the grammer police and all, but strictly speak deposit isn't something you get back. It's "a sum payable as a first instalment on the purchase of something or as a pledge for a contract, the balance being payable later." 
Snollygoster said:
jas xjr said:
the use of the word depiosit is rather misleading . it is an initial payment that you do not get back.
Sorry to be the grammer police and all, but strictly speak deposit isn't something you get back. It's "a sum payable as a first instalment on the purchase of something or as a pledge for a contract, the balance being payable later." 
Most leasing companies work in the same manner - it's definitely worth shopping around for the best deals. All contract hire quotations will include road fund licences for the full term along with all the standard warranties / breakdown cover that you'd benefit from on a new car. The differences between the companies only really comes into effect if you want to break an agreement early - there's no specific formula for calculating early settlements on a contract hire agreement. For example, Lex will charge somewhere around 50% of the remaining rentals to terminate early, and Mercedes may charge up to 95% of remaining rentals (This is usually offset by the fact their rentals are a lot cheaper in the first instance.
The main leasing companies such as Lex, Arval, ALD and Leaseplan will all adhere to the BVRLA standards when the vehicle is returned to them regarding any damage on the vehicle. I hear some of the manufacture policies are stricter than this.
I do leasing for a living, I'll drop you a PM shortly, see if I can put some competitive figures together for you. Cheers, Richard.
The main leasing companies such as Lex, Arval, ALD and Leaseplan will all adhere to the BVRLA standards when the vehicle is returned to them regarding any damage on the vehicle. I hear some of the manufacture policies are stricter than this.
I do leasing for a living, I'll drop you a PM shortly, see if I can put some competitive figures together for you. Cheers, Richard.
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