MatthewR
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Registered: 21st Oct 02
Location: Rickmansworth
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Seriously thinking of getting one to replace my Corsa eventually, seems like you can get a new fiesta for about £160 a month which is pretty good and about the same as a loan repayment (which is what id have to do anyway) so has anyone got a lease car or had one, pros n cons etc?
Thanks
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Colin
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Registered: 4th Apr 02
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Pro's - you get a brand new car for the price of a used one, sometimes a full maintanance package is included.
Con's - You pay 160 a month & never own anything at the end, if you go above the agreed yearly mileage it could cost you.
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MatthewR
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Registered: 21st Oct 02
Location: Rickmansworth
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my Dad mentioned about the yearly milage thing as i do alot of communting by car - id have to look into the charges as id def go above 10k, 12k a year
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Colin
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Registered: 4th Apr 02
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Normally you pay for a 10k annum or 15k or whatever & if you go over you pay so many pence per mile.
I thought about it at one time, but decided against it.
I think a few folk on here run lease cars so hopefully they will provide some input soon!!
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dean101287
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Registered: 22nd Jul 07
Location: Cardiff
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They told my mate that as long as you dont go over the milage stupidy it doesnt matter IF you take another lease when that car ends
[Edited on 16-05-2009 by dean101287]
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CorsAsh
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Registered: 19th Apr 02
Location: Munich
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I looked into it with work and was put off by the ridiculous charges for any damage (even supermarket scuffs etc)
Would rather own a car and not be worried sick that I'll be raped for fixing a dent or something.
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Ash_EP3
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Registered: 15th May 07
Location: Melksham, Wiltshire
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my old man has his saab 93 through leaseplan (it's done through his company) as long as he stays within the mileage limit all he has to do is pay for the lease and fuel they do the rest! but he is paying £270 a month 
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Graeme
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Registered: 26th Jul 04
Location: Northampton
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my mum has just ordered a lease car but she works for the NHS and they do a good deal, she has got a 1.4 punto and for £115 a month you get it serviced, taxed, tyres, insured, so its good for her but where as i can get a car through my work but i cant justify all that money and getting nothing at the end of it!
[Edited on 17-05-2009 by Graeme]
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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I'm on unlimited mileage.
£160 a month is cheap to have a new car with 3 years warranty on your drive.
Depending on what sort of contract you have with them you can either give it back at the end, trade it in for another car or buy it outright.
Personally I'm going to trade it in for something else, dont really fancy running it outside of the warranty and I'll be fancying a change by that point.
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richc
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Registered: 24th Mar 07
Location: Ilkeston
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quote:
Originally posted by Matty G
I'm on unlimited mileage.
£160 a month is cheap to have a new car with 3 years warranty on your drive.
Depending on what sort of contract you have with them you can either give it back at the end, trade it in for another car or buy it outright.
Personally I'm going to trade it in for something else, dont really fancy running it outside of the warranty and I'll be fancying a change by that point.
Lad at work has got a Corsa D SRI Turbo from £169 a month. I think his lease is up next march and he has only go about 2000 miles (or something to that tune) untill his limit 
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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thats gonna cost him big time in excess mileage
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MatthewR
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Registered: 21st Oct 02
Location: Rickmansworth
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hmmm, thanks for the input guys
I think its best i look into the mileage and terms of contract i.e can i trade it in for another one etc.
many thanks
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BYRON
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Registered: 1st Jun 04
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quote:
Originally posted by Graeme
my mum has just ordered a lease car but she works for the NHS and they do a good deal, she has got a 1.4 punto and for £115 a month you get it serviced, taxed, tyres, insured, so its good for her but where as i can get a car through my work but i cant justify all that money and getting nothing at the end of it!
[Edited on 17-05-2009 by Graeme]
That will be on a PASA/public sector arrangement, which the majority of manufacturers support with masses of discount, hence the cheap rentals.
Typical excess mileage on a PCP arrangement is circa 6 pence per mile - not that bad really.
Condition wise, it would need to be returned in conditions set out from the BVRLA fair wear and tear guide..it is pretty leniant, and some companies enforce it harder than others.
And as for going over mileage, and not being penalised - no chance. Every contract hire and leasing company are in strife at the minute, and looking to claw back any exposures/risk. Remember, the car is their assest, and anything that might jeapordise its future sale value (condition & mileage) they will look to protect that. so basically, Unlimimted mileage is utter garbage - no chance will they overlook that.
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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Mine is definately unlimited mileage Byron. Its in my finance agreement documents.
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BYRON
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Registered: 1st Jun 04
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quote:
Originally posted by Matty G
Mine is definately unlimited mileage Byron. Its in my finance agreement documents.
Really? Do you have an agreed balloon (purchase price) at the contract end date?
The rentals are calculated on a write down against the mileage, which is the biggest driver ofthe rental figure. A car with 10k on it is obviously worth more than a car with 60k on it.
Both cant attract the same rental?? Bizarre if that is the case, and something I have never seen. Is it an Audi financial services deal Matt?
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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Yeah I'm sure but I'm going to check my documents later for any clauses now just incase as you work in the industry and are likely to know more than me! Its not going to be a problem even if there turns out to be a clause in it as I've only been doing about 12k a year anyway. They gave me a guaranteed future value at the end of the term which is my balloon payment.
I did it through Audi but I think they use Lloyds TSB Black Horse?
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whitter45
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Registered: 15th Nov 02
Location: Norton
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to be honest this day in age if you want a brand new car the only sensible way is PCP
If your careful you pay each month for a car that will lose shed loads of money through a 2 or 3 year deal
only draw back is agreed milage buit if plan on keeping it it not a problem
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BYRON
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Registered: 1st Jun 04
User status: Offline
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quote:
Originally posted by Matty G
They gave me a guaranteed future value at the end of the term which is my balloon payment.
That gauranteed future value has to be based on some sort of mileage projection, otherwise how can they predict the value against an unknown variable?
Usually 10k per annum would be a typical benchmark for a private lease from experience. 
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mwg
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Registered: 19th Feb 04
Location: South Lakes
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It'd better be more than 10k as they knew I do more than that a year.
I understand what you are saying though with regards to the mileage and predicting the value. They must of put something or I could go out and stick 200,000 miles on the clock for all they know!
[Edited on 18-05-2009 by Matty G]
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