Leasing a car for my daughter
Leasing a car for my daughter
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Discussion

Silverage

Original Poster:

2,278 posts

148 months

Thursday 22nd June 2017
quotequote all
Is there anything to stop me doing this? She's still having lessons at the moment, expecting to pass her test in the autumn. I was thinking about leasing one of these Focuses that have good deals on at the moment. Being a student she wouldn't be able to afford it herself, so I would have to pay the lease. The car would be insured in her name. Side issue, I was surprised how cheap the insurance was - only £400. I expect that will shoot up when she passes though.

Jonno02

2,262 posts

127 months

Thursday 22nd June 2017
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Personally, I think letting a new driver loose on a brand new car that may suffer damage (which is all part of the learning curve) which will be scrutinised by an inspection when it's returned is a bad idea.

Keldemebeh

90 posts

101 months

Thursday 22nd June 2017
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It will be fine as long as she is the main driver on the policy. You would have to declare to the insurance that the registered keeper/owner is the lease company (of course).

Silverage

Original Poster:

2,278 posts

148 months

Thursday 22nd June 2017
quotequote all
Keldemebeh said:
It will be fine as long as she is the main driver on the policy. You would have to declare to the insurance that the registered keeper/owner is the lease company (of course).
Yes, I did that when I went through the quote earlier. I'll probably add myself as an additional driver - that might bring it down some more.

But my question really was, would the lease company be happy with this arrangement?

BoRED S2upid

20,818 posts

258 months

Thursday 22nd June 2017
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I agree with Jonno above it's going to cost you a lot more than the lease costs! Take one years lease costs and buy her something small and reliable your still learning years after you pass your test.

Sheepshanks

37,996 posts

137 months

Friday 23rd June 2017
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Both my girls had new cars when they left uni and ran them for 5yrs without crashing them. They did pick up a remarkable number of door dings though even with attempting to be careful about where they parked. To be fair, my wife's 18mth old car is going the same way - I think it's just related to the car spending its life in various shopping centre car parks.

Silverage

Original Poster:

2,278 posts

148 months

Friday 23rd June 2017
quotequote all
BoRED S2upid said:
I agree with Jonno above it's going to cost you a lot more than the lease costs! Take one years lease costs and buy her something small and reliable your still learning years after you pass your test.
One year's lease costs on this Focus is about £2k. I'd not be happy putting her in something of that value.

Silverage

Original Poster:

2,278 posts

148 months

Friday 23rd June 2017
quotequote all
Just put in for an insurance quote for when she passes her test - cheapest was £2100 even with a telematics box. Highest was just under £5000. Ouch.

SelectCarLeasing

500 posts

116 months

Friday 23rd June 2017
quotequote all
Silverage I hope this helps,

So long as your daughter lives at the same address as Yourself then this won't be an issue.

Let me know if you'd like to discuss this in further detail.

'Talk to Paul'

TheAngryDog

12,678 posts

227 months

Friday 23rd June 2017
quotequote all
Silverage said:
BoRED S2upid said:
I agree with Jonno above it's going to cost you a lot more than the lease costs! Take one years lease costs and buy her something small and reliable your still learning years after you pass your test.
One year's lease costs on this Focus is about £2k. I'd not be happy putting her in something of that value.
Why not? There are a lot of very good cars out there for £2k.

MorganP104

2,605 posts

148 months

Friday 23rd June 2017
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It was a while ago now, but I remember a time when various car manufacturers were offering lease/PCP deals for new drivers that included insurance.

I'd say it's worth finding out if any such deals still exist.

Zetec-S

6,501 posts

111 months

Friday 23rd June 2017
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Silverage said:
BoRED S2upid said:
I agree with Jonno above it's going to cost you a lot more than the lease costs! Take one years lease costs and buy her something small and reliable your still learning years after you pass your test.
One year's lease costs on this Focus is about £2k. I'd not be happy putting her in something of that value.
Two years lease costs would be £4k, would that buy something you'd be happier with?

Sheepshanks

37,996 posts

137 months

Friday 23rd June 2017
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TheAngryDog said:
Why not? There are a lot of very good cars out there for £2k.
Maybe, but finding them ain't easy and involves some luck. And most people don't find the hunt much fun. If you end up spending a few hundred quid a year on service and maint and getting it through MOT then you might as well have leased a cheap new one.

For a capable lad, having a banger shouldn't be a problem, but I was amazed that some of my wealthiest friends put their daughters in absolute sheds that broke down and left them stranded time and again.

For a Dad, there's also a bit of arse covering. If you buy used and anything happens then it's going to be your fault! When I bought ours, cars hadn't long had ABS so used cars generally didn't have it. Now it's the same with ESP. I spec'd side airbags and A/C, but you'd get them standard now.

Silverage

Original Poster:

2,278 posts

148 months

Friday 23rd June 2017
quotequote all
SelectCarLeasing said:
Silverage I hope this helps,

So long as your daughter lives at the same address as Yourself then this won't be an issue.

Let me know if you'd like to discuss this in further detail.

'Talk to Paul'
Yes, she does live at the same address as me. What won't be an issue? The insurance? I did put myself down as an additional driver thinking that would bring it down a bit but £2k is a bitter pill to swallow.

Sheepshanks

37,996 posts

137 months

Friday 23rd June 2017
quotequote all
Silverage said:
...but £2k is a bitter pill to swallow.
Did you not expect that? It sounds pretty standard for a young driver.

Silverage

Original Poster:

2,278 posts

148 months

Friday 23rd June 2017
quotequote all
Zetec-S said:
Two years lease costs would be £4k, would that buy something you'd be happier with?
I doubt it. We were having a trawl round Autotrader last night and we were up to cars over £8k before I saw anything I would be happy buying for her to drive around in. I don't want all the grief associated with a 6 year old Fiesta with 70,000 miles on it when I could have her in a brand new car with warranty.

Zetec-S

6,501 posts

111 months

Friday 23rd June 2017
quotequote all
Silverage said:
But my question really was, would the lease company be happy with this arrangement?
Is it really any different than a business leasing a fleet of cars/vans which will be used by various employees?

ayman82

1,515 posts

199 months

Friday 23rd June 2017
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What about a Just Add Fuel from Peugeot?

They include everything except fuel (obviously!)

imdeman87

928 posts

125 months

Friday 23rd June 2017
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Will she be a uni student away from home come Sept 17?

Jonno02

2,262 posts

127 months

Friday 23rd June 2017
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Sounds like it's nearly-new/new or nothing. In that case, I'd PCP it as you have the chance to 'own it' and the quality of any repairs isn't inspected with a microscope like many lease companies come return/trade-in.