Leasing Help

[Ollywood88]

Hi Guys,

First post here, firstly sorry if this maybe in the wrong section.

I currently have a BMW on a PCP Contract and nearly 3 years into it. I was looking at handing it back as I have my eye on a Volvo XC40 Lease.

I wanted to go with a lease as its cheaper and less payment upfront, I don't want the car at the end as I like a new one every 3-4 years. That is why I am thinking of moving away from a PCP. Is this the right decision. Is leasing the best way to go. What are the cons?

Sorry for so many questions, Its a new thing for me.

Question: Where are the best lease deals, I.E Websites and when to look for deals?

Thank you

[Junior Bianno]

Have a look in the "Car Buying" section - lots of information on leasing, and a thread with the best current lease offers.

https://www.pistonheads.com/gassing/forum.asp?h=0&...

[M3DGE]

I went for a lease for the first time last year after coming out of a manufacturer's scheme. It's worked really well for me.

I picked up an Audi 1.4 Sport for £285 pm on 23+3, 15,000 per year, from Yes Lease (a broker) - I can recommend them, they were very helpful. I found the various comparison sites less useful as I could not define all my parameters and I wanted certain things - two years, low up front, 15k, and definitely petrol.

I'm not sure how pricing has changed in the past year, I know PCPs have got more expensive due to low residuals.

Basically, you need to decide how long you want the lease for, how much you are willing to put up front (basically bigger initial payment, lower monthly payments) how many miles (lots of adverts use very low mileage) and whether you want servicing included (I decided not as effectively only one service on a two year lease). You'll get the car tax included regardless.

[Ollywood88]

Thanks for the replies,

I will look at the suggested, I think Lease will probably be cheaper, my partners PCP is up soon too. She was looking at a Mercedes A Class or Mini Cooper

Mini wanted 3k down for 250.00 for a basic copper on PCP so no fancy alloys, no multi steering wheel,

For 199.99 Mercedes wanted 5K down for the AMG 180D line,

That is not taking in the potential Negative equity. Seems a lot more expensive then it use to be.

I will take a look at some of the lease websites.

[Ollywood88]

Thanks for the replies,

I will look at the suggested, I think Lease will probably be cheaper, my partners PCP is up soon too. She was looking at a Mercedes A Class or Mini Cooper

Mini wanted 3k down for 250.00 for a basic copper on PCP so no fancy alloys, no multi steering wheel,

For 199.99 Mercedes wanted 5K down for the AMG 180D line,

That is not taking in the potential Negative equity. Seems a lot more expensive then it use to be.

I will take a look at some of the lease websites.

[Yipper]

The *only* calculation that matters is "total cost" of ownership.

Work out how long you think you will "own" the car... then work out the total cost of *everything*... whichever is cheapest, that's the one to choose.

For example, if PCP costs £10k over 24 months, and PCH (lease) amounts to £9k over 24 months, then PCH wins.

[Ollywood88]

great advice thanks,

With the lease what is included?

Is Road Tax included? all you have to pay is the payments and insurance fuel etc. (Maintenance if you don't buy this)

Thanks,

[jacobingonzo]

road tax usually included but remember to arrange GAP insurance too in case you have a total loss accident early in the lease- better to arrange Gap yourself than accepting lease brokers GAP

[culpz]

jacobingonzo said:

road tax usually included but remember to arrange GAP insurance too in case you have a total loss accident early in the lease- better to arrange Gap yourself than accepting lease brokers GAP

GAP is not essential though. I never took it out on either of my 2 leases thus far. I know it can be a bit of a risk, especially in such an event, but the insurance should always pay out for the full evaluation of the car.

[Gareth1974]

I’m trying to find a decent lease deal on a XC40 for my sister in law, with no success so far. I’m hopeful that Volvo will do a deal of some sort soon, they have on XC90, XC60 and V90/S90 recently.

[Ollywood88]

Thanks everyone for the replies,

with the XC40 I got a quote on PCP For 2k down on the Momentum nor R design (Which I want) for 303.00 per month,

Saw a few leases for around the same down for around 285.00 per month.

VOLVO is around 2.9% at the moment.

Let me know if anyone knows of a good lease.

[Gareth1974]

This is the best XC40 deal I've seen to date, given it's on the T5 Inscription Pro rather than a T3 Momentum.

https://www.contracthireandleasing.com/independent...

[Ollywood88]

Thanks for the link, that is a good deal.

Guys in regards to the model is the momentum vs r design much difference.

Mainly the wheels and interior seats?

Thanks,

[IanCress]

Gareth1974 said:

This is the best XC40 deal I've seen to date, given it's on the T5 Inscription Pro rather than a T3 Momentum.

https://www.contracthireandleasing.com/independent...

What was that deal? Says it doesn't exist when I click on it. Quick search for T5's doesn't show much below £400pm on a 9+23. Seems like a lot of money to pay for a small SUV, even one with 250bhp.
If you're after a small performance SUV (well, someone must be), then I wonder if we'll see good deals on the Ateca Cupra when it finally turns up.

[Komo12k]

Have you tried www.selectcarleasing.co.uk?

if you need https://www.selectcarleasing.co.uk/car-leasing/vol...

[tickedon]

Ollywood88 said:

Let me know if anyone knows of a good lease.

There's a whole thread for that over here: https://www.pistonheads.com/gassing/topic.asp?h=0&... (currently on 177 pages and counting!).

With a lease, and getting the best deals,you can't be picky about the car - the deals will change, so work out what your requirements are (speed, mpg, kit etc.) and then see what comes up that meets them, and then don't wait around! The best deals will have limited availability and often disappear within hours/days.

If you can't be bothered, then a local dealer will happily take all your cash.

[DaveH23]

I use hire cars every week for work and do between 20 - 30k a year.

I may soon be taking a car allowance currently around £400 P/M but possibly up to £600 P/M. As far as I am aware there is absolutely no restriction on how we spend it.

With those kind of miles and budget would leasing be an option or would an alternative finance method be better.

Never financed before so not sure of the details of each method but have been researching a little bit recently.

Anybody else in a similar situation. What do you do?