DaveyLC
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Registered: 8th Oct 08
Location: Berkshire
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quote:
Originally posted by antnee
quote:
Originally posted by DaveyLC
So a Pre-reg or 6 month to a year old car is an 'old shitter'? 
No, people are comparing running a brand new car (ie on lease) to running a 15 year old cheapy motor
quote:
Originally posted by DaveyLC
Also those talking about depreciation you clearly are living in another dimension to the rest of humanity because you do realise finance companies are NOT charities, they are making massive profits and they are certainly not doing that by leasing cars at a lower than cost price. 
Some lease deals do end up costing less than the depreciation, the lease company will probably still make money as they will get the cars much cheaper than Joe Public does.
This deal http://www.gateway2lease.com/z_renault_meganecoupe_1.6vvtdynamiquetomtom3dr_15669_leasing.php#.VYiDFflViko works out at £10613, cost of car from Renault is £18250 and there is an example on Autotrader at 3 years old for £7500 which is £137 worse off if you bought it.
Ok..
36 month personal contract is 6+35 so there's a 6 month down payment so in total you pay:
41x222 (+150)= 9252
£18250 - 9252 = £8998
So things are looking on the up right? Oh but wait £222 is only if you do 5k miles per annum.. Now go to auto trader and look up 3 year old examples with 15k miles on the clock and you'll see the cheapest ones are around the 9k mark and the price difference between 15k and 30k is very little, for the lease car you'll be paying through the nose for those extra 15k miles.
All of these 'cheap' lease deals fuck you on the mileage and condition charges because they know a) the car is worth a fuck sight more with low mileage and b) hardly anyone does less than 10k/year.
As I said before these are businesses not charities.
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DaveyLC
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Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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quote:
Originally posted by 3CorsaMeal
Spend less on the car, spend more at demon tweeks
That's something else I find massively ironic.. People that 'do up' their car that is on PCP!! Muppets.
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Dom
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Registered: 13th Sep 03
User status: Offline
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quote:
Originally posted by DaveyLC
....for the lease car you'll be paying through the nose for those extra 15k miles.
Depends on the lease company, although i've found it cheaper to spec lower mileage and pay the additional mileage fee.
Either way, leasing isn't as black and white as you're making it out and it can work in your favor if you get the right deal. 
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Jambo
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Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
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I do 6k a year.
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spencer88
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Registered: 6th Oct 08
Location: cornwall
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Doesn't matter how many miles you do.
Doesn't matter how much it costs (essentially).
Doesn't matter what car.
What matters is if you can afford it and want it.
Simple.
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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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Not according to some people Spencer
Also nobody has mentioned cashflow
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SVM 286
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Registered: 13th Feb 05
Location: pain
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quote:
Originally posted by Jambo
quote:
Originally posted by SVM 286
quote:
Originally posted by Ian
http://www.nationalvehiclesolutions.co.uk/Audi-A4-Saloon-1.8-170ps-Blk-Ed-Nav-Business-Lease/30221
46mpg is pretty good going for a petrol car of that sort of size too.
All new cars are this efficient pretty much Jim.
Spend less on Petrol/Ins/Tax, spend more on the car
Good point I suppose Jam It still seems remarkable to me that something with that much mass and a petrol engine can return such reasonable figures.
Those numbers would have been pretty good as an average, for a diesel, not all that long ago.
I think my car does about twenty to the gallon. 
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SVM 286
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Registered: 13th Feb 05
Location: pain
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5k miles does seem like a very low cap.
It seems to me that scenario would only suit a non working mother where the car was only used for school run, shopping and day trips etc.
There can't be too many people not paying an excess mileage supplement on these 5000 mile deals.
I do very low miles as I spend more time in traffic than actually covering miles, but the lowest annual mileage i've ever done was about 5300 (usually 6-7k), so even someone like me would breach the limit.
To my mind, a new vehicle and high mileage would seem to go hand in hand. It seems dreadfully wasteful to me to lease a brand spanker if you can't stick at least 15 or 20k miles on it per year.
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antnee
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Registered: 30th Dec 07
Location: Cov Drives: Clio 197
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quote:
Originally posted by DaveyLC
quote:
Originally posted by antnee
Some lease deals do end up costing less than the depreciation, the lease company will probably still make money as they will get the cars much cheaper than Joe Public does.
This deal http://www.gateway2lease.com/z_renault_meganecoupe_1.6vvtdynamiquetomtom3dr_15669_leasing.php#.VYiDFflViko works out at £10613, cost of car from Renault is £18250 and there is an example on Autotrader at 3 years old for £7500 which is £137 worse off if you bought it.
Ok..
36 month personal contract is 6+35 so there's a 6 month down payment so in total you pay:
41x222 (+150)= 9252
£18250 - 9252 = £8998
So things are looking on the up right? Oh but wait £222 is only if you do 5k miles per annum.. Now go to auto trader and look up 3 year old examples with 15k miles on the clock and you'll see the cheapest ones are around the 9k mark and the price difference between 15k and 30k is very little, for the lease car you'll be paying through the nose for those extra 15k miles.
I realised I messed up my total lease cost calculation, I added the deposit on twice. But that makes it an even better picture for leasing
First example I come to on AT, 14k on the clock, £7500. clicky So I make that out to cost 10750 if you buy it or 9252 if you lease. £1498 better off for leasing, is it such a bad deal now?
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NovaGTE2
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Registered: 26th Sep 06
Location: Peasedown St John, Bristol Avon
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Very cheap new VXR deal £149 down and £149 p/month for 24 months
http://www.astonvauxhall.co.uk/new-car-product-information/flexible-personal-lease/new-corsa-vxr-flexible-personal-lease
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gavin18787
Premium Member
Registered: 22nd Feb 05
Location: Basildon, Essex
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Golf R comes in an estate, how did I not know this! Looks epic
Drives supercharged Tec with torque  
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Online
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quote:
Originally posted by DaveyLC
they are certainly not doing that by leasing cars at a lower than cost price.
They do buy cheaper than an individual does though?
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DaveyLC
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Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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quote:
Originally posted by Ian
quote:
Originally posted by DaveyLC
they are certainly not doing that by leasing cars at a lower than cost price.
They do buy cheaper than an individual does though?
Of course they do, but we're not talking about 50% discounts
Think about it logically, if the manufacturers were selling the cars at reduced rates to these bulk buying finance companies so they can lease the cars cheaper than a regular person could ever buy one for they would only be shooting them selves in the foot!
[Edited on 24-06-2015 by DaveyLC]
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Jambo
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Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
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That Corsa deal is stonking!q
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DaveyLC
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Registered: 8th Oct 08
Location: Berkshire
User status: Offline
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I'll bet there is more to that though.. Phone them up
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pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
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5k a year though? I could do that in a busy 2/3 months. I'm still averaging at 15k a year.
[Edited on 24-06-2015 by pow]
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pow
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Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
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Granted I do that over a few cars though
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NovaGTE2
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Registered: 26th Sep 06
Location: Peasedown St John, Bristol Avon
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excess mileage charge was only 6.64p tho so not going add majorly to the costs. I am tempted myself; just not sure what it would be like going from a 335i to a corsa again!
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Ian W
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Registered: 8th Nov 03
Location: Wirral, Merseyside
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quote:
Originally posted by NovaGTE2
excess mileage charge was only 6.64p tho so not going add majorly to the costs. I am tempted myself; just not sure what it would be like going from a 335i to a corsa again!
I don't think I could go from a 335i to a Corsa, that's a major step down
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Steve
Premium Member
Registered: 30th Mar 02
Location: Worcestershire Drives: Defender
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Must say as soon as you start factoring any sort of reasonable mileages into it, it starts to become very expensive.
Who does 5k a year apart from your nan?
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Dom
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Registered: 13th Sep 03
User status: Offline
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quote:
Originally posted by NovaGTE2
excess mileage charge was only 6.64p tho so not going add majorly to the costs.
5K is another £30 a month; not too bad but have seen better. Be interesting to see what the extra is for increasing it to 10K (inclusive) though.
quote:
Originally posted by Steve
Must say as soon as you start factoring any sort of reasonable mileages into it, it starts to become very expensive.
If you're using excess mileage then 10k pa (5k inclusive; 5k excess) on the Corsa VXR would be £4.3k over 24 months; 15k (5k inclusive; 10k excess) pa would be £5k.
For comparison, new is around £18/20k; a 2 year old model with 30K is around £10k (Autotrader prices).
It doesn't look too bad tbh.
[Edited on 24-06-2015 by Dom]
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Steve
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Registered: 30th Mar 02
Location: Worcestershire Drives: Defender
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10pa is still probably about half of what most people do realistically a year these days
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antnee
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Registered: 30th Dec 07
Location: Cov Drives: Clio 197
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The other half's fiesta, which we bought new in the beginning of December, hasn't even done 2k yet
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Steve
Premium Member
Registered: 30th Mar 02
Location: Worcestershire Drives: Defender
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That's not representative of the average person, and certainly nowhere near suitable for me, if you hardly drive anywhere there certainly is some cheap lease deals worth looking at, but that won't apply to many people
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Ben G
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Registered: 12th Jan 07
Location: Essex
User status: Offline
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My fiesta has done 3k and we got that on March 1st.
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