nathy_87
Member
Registered: 14th Aug 08
Location: West Mids. Drives: koda Fabia VRS 5J
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What are your thoughts on car leasing, have had a breif look into it, bonus side you get a brand new car but on the downside its not yours to keep,
thanks
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
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May as well just get finance on a car that's yours.
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nathy_87
Member
Registered: 14th Aug 08
Location: West Mids. Drives: koda Fabia VRS 5J
User status: Offline
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well i've been looking at a few cars now, MR2 (2.0) and a VXR (1.6), Suprisingly the mr2 is cheaper on insurance  but i need a car thats more 'practical' and not going to breakdown on me every other month.
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Fro
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Registered: 20th Jun 06
Location: Rainham, Essex Drives: A3 2.0TDi Sport
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Thats what a thought about my golf but it's been less reliable than my xe was 
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Jambo
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Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
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your name will be on the v5, it is "yours".
Depending on the car/term/deal its a very good way of buying and running a car.
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
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You still give it back at the end of the term do you not?
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Kevxx
Member
Registered: 14th May 08
Location: Forfar, Angus
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seems a good idea to be, say the car gets a bit fucked, can you just stop the lease? :O and the hastle of not owning the car, you don't worry about deprecation or selling the thing, or am i wrong?
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BYRON
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Registered: 1st Jun 04
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If the car, deposit, term, mileage and monthly cost all suit you then why not?
If you can get your head around the fact you wont own the car at the end of the arrangement, then do it.
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
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The cost of the depreciation amongst other things is in the cost of the lease. I looked into it. You're not really any "better off". Yes, you've got a new car. A maintenance contract will cost you a lot more. Any high end car which is all I'd want is quite expensive really and at least£400 a month. Accompanied with the deposit that you don't get back I just think it's more worthwhile buying, as at least at the end you don't have absolutely nothing to show for thousands outlay.
It's also something you can't just back out of as far as I'm aware. 36 months is 36 months. Shorter terms are more expensive per month, etc.
[Edited on 17-02-2009 by loafofbrett]
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BYRON
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Registered: 1st Jun 04
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quote:
Originally posted by loafofbrett
You still give it back at the end of the term do you not?
Depends what type of lease arrangement it is. The majority of personal leases will result in you handing the car back at the end of the term.
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nathy_87
Member
Registered: 14th Aug 08
Location: West Mids. Drives: koda Fabia VRS 5J
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thats anoter thing can you stop the 'lease' there and then?
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
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You can get good deals on lower end cars. I saw some good deals on things like Puntos. Something like a £1000 intiial deposit then just over £100 a month. That's probably worth it. Like I said, I'd only be interested in the higher end, otherwise whats the point.
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
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Prices are usually excluding VAT too iirc.
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DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
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Its the only way to get a new car IMHO!
Buying new is for mugs.
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Jambo
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Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
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You could buy it at the end of the lease.
The amount you loose in VAT and depreciation on buying a new car you would be mad not to consider leasing IMO
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Mobby
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Registered: 31st Dec 07
Location: Leicestershire
User status: Offline
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iv always said buying new is a stupid idea!
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BYRON
Member
Registered: 1st Jun 04
User status: Offline
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quote:
Originally posted by mobby
iv always said buying new is a stupid idea!
Correct. Let someone else take the risk.
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