Unsure whether to pursue lease deal
Discussion
Hello all!
I'm really unsure whether I should pursue a deal I have been offered. It's for an Audi A4 Avant Black Edition (The 40 tfsi model).
It is through Affinity Leasing and I've already signed my paperwork and sent it off however I am in the 14-day cooling-off period.
The reason I am unsure is because of m,y mileage. The offer is £219 per month with £1314 upfront. This, however, is for 5k miles. Instead, I'm likely to be doing 18k miles so at the end of the two-year term I will be looking at an excess mileage charge or over 2k. (The XS mileage is 9.47ppm including VAT)
I'm thinking it would be better perhaps to wait for a diesel, hybrid or something with a higher mileage amount as I'm assuming my mileage will incur two services and possibly more maintenance, making the lease kind of expensive.
I saw on the lease thread somebody mentioned something about BMW alphabet making their offers available to everybody. Now I haven't a clue who they are, but I would really love a 330e or 530e, or a diesel BMW as I do favor them.
I know the deal I have is decent however amortised it is £376.34 with my mileage, and as it's petrol my fuel consumption is also going to increase.
Any advice would be greatly appreciated!
Matt
I'm really unsure whether I should pursue a deal I have been offered. It's for an Audi A4 Avant Black Edition (The 40 tfsi model).
It is through Affinity Leasing and I've already signed my paperwork and sent it off however I am in the 14-day cooling-off period.
The reason I am unsure is because of m,y mileage. The offer is £219 per month with £1314 upfront. This, however, is for 5k miles. Instead, I'm likely to be doing 18k miles so at the end of the two-year term I will be looking at an excess mileage charge or over 2k. (The XS mileage is 9.47ppm including VAT)
I'm thinking it would be better perhaps to wait for a diesel, hybrid or something with a higher mileage amount as I'm assuming my mileage will incur two services and possibly more maintenance, making the lease kind of expensive.
I saw on the lease thread somebody mentioned something about BMW alphabet making their offers available to everybody. Now I haven't a clue who they are, but I would really love a 330e or 530e, or a diesel BMW as I do favor them.
I know the deal I have is decent however amortised it is £376.34 with my mileage, and as it's petrol my fuel consumption is also going to increase.
Any advice would be greatly appreciated!
Matt
It isn’t necessarily a terrible idea. 9.47p per mile isn’t outrageous. Overall it will cost you an extra £2460 in extra charges if you pay this at the end of the term - how much extra is it if you pay it up front?
If the deal is ultimately through VWFS, you can ask normally for a mileage alteration once you are six months into your contract. I did this and got about 25% discount on the excess mileage fee to increase my contracted mileage.
If the deal is ultimately through VWFS, you can ask normally for a mileage alteration once you are six months into your contract. I did this and got about 25% discount on the excess mileage fee to increase my contracted mileage.
Cancel it.
Once you’re in the lease you can’t hand it back without paying the vast majority of the payments. If you’ve got renter’s remorse already, imagine how you’ll feel a year into the lease when you’re stuck with a car you don’t really want and can’t get out of the deal without paying thousands as well as losing the car.
Once you’re in the lease you can’t hand it back without paying the vast majority of the payments. If you’ve got renter’s remorse already, imagine how you’ll feel a year into the lease when you’re stuck with a car you don’t really want and can’t get out of the deal without paying thousands as well as losing the car.
charltjr said:
Cancel it.
Once you’re in the lease you can’t hand it back without paying the vast majority of the payments. If you’ve got renter’s remorse already, imagine how you’ll feel a year into the lease when you’re stuck with a car you don’t really want and can’t get out of the deal without paying thousands as well as losing the car.
Agreed, sounds to me like you have convinced yourself to order a car you don't really want because it is "only" £209 a month. If you are having doubts now, imagine what it is going to be like driving around in a car you don't really want once the new car excitement has worn off, knowing you will have to pay £2500+ in excess mileage at the end.Once you’re in the lease you can’t hand it back without paying the vast majority of the payments. If you’ve got renter’s remorse already, imagine how you’ll feel a year into the lease when you’re stuck with a car you don’t really want and can’t get out of the deal without paying thousands as well as losing the car.
Gareth1974 said:
It isn’t necessarily a terrible idea. 9.47p per mile isn’t outrageous. Overall it will cost you an extra £2460 in extra charges if you pay this at the end of the term - how much extra is it if you pay it up front?
If the deal is ultimately through VWFS, you can ask normally for a mileage alteration once you are six months into your contract. I did this and got about 25% discount on the excess mileage fee to increase my contracted mileage.
I have a 25k/year deal and a couple of months back asked for a quote to add on another 10k for the remainder of the term (18 months at the time).If the deal is ultimately through VWFS, you can ask normally for a mileage alteration once you are six months into your contract. I did this and got about 25% discount on the excess mileage fee to increase my contracted mileage.
It turned out that the additional monthly was above the ppm excess I would have paid....... So, its fine asking this question whilst in the term but please dont bank on it as part of your decision making for signing up to a lease.
As it happens, I have been asked to work from home more, so the mileage will reduce by about a third, so am now bang on target for the 75k total at handback.
Joey Deacon said:
charltjr said:
Cancel it.
Once you’re in the lease you can’t hand it back without paying the vast majority of the payments. If you’ve got renter’s remorse already, imagine how you’ll feel a year into the lease when you’re stuck with a car you don’t really want and can’t get out of the deal without paying thousands as well as losing the car.
Agreed, sounds to me like you have convinced yourself to order a car you don't really want because it is "only" £209 a month. If you are having doubts now, imagine what it is going to be like driving around in a car you don't really want once the new car excitement has worn off, knowing you will have to pay £2500+ in excess mileage at the end.Once you’re in the lease you can’t hand it back without paying the vast majority of the payments. If you’ve got renter’s remorse already, imagine how you’ll feel a year into the lease when you’re stuck with a car you don’t really want and can’t get out of the deal without paying thousands as well as losing the car.
It's more as it's my first lease I'm not sure if it's a decent price or not. I've heard the saying chase the deal not the car, so I don't want to commit if let's say historically there'll be a 3 series saloon available at a similar price in a couple of weeks. Or if my amortised costs are high in proportion to the sort of vehicle I'm looking at.
I'm not in a rush as I own my current vehicle, but it's time I treat myself against my ageing 8 year old c class!
I guess my reason for the post is whether the price I'll be paying amortised is actually decent value for money in the eyes of those more experienced and clued up on the lease game.
The kind of vehicles I like are the Audi's, BMW's (particular favourite to these), alfa saloons (Giulia) and the Volvo S60 r design.
I know I missed the recent s60 deal which I cancelled as the Mrs said it was awful looking at the rear, and the fuel would be too much, although retrospectively I should have pursued as it worked out about £60 less per month and was somewhat unique on the road compared to your German cars.
Sorry for my long response, just trying to clarify my exact thought process!
Tomo1971 said:
Gareth1974 said:
It isn’t necessarily a terrible idea. 9.47p per mile isn’t outrageous. Overall it will cost you an extra £2460 in extra charges if you pay this at the end of the term - how much extra is it if you pay it up front?
If the deal is ultimately through VWFS, you can ask normally for a mileage alteration once you are six months into your contract. I did this and got about 25% discount on the excess mileage fee to increase my contracted mileage.
I have a 25k/year deal and a couple of months back asked for a quote to add on another 10k for the remainder of the term (18 months at the time).If the deal is ultimately through VWFS, you can ask normally for a mileage alteration once you are six months into your contract. I did this and got about 25% discount on the excess mileage fee to increase my contracted mileage.
It turned out that the additional monthly was above the ppm excess I would have paid....... So, its fine asking this question whilst in the term but please dont bank on it as part of your decision making for signing up to a lease.
As it happens, I have been asked to work from home more, so the mileage will reduce by about a third, so am now bang on target for the 75k total at handback.
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