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Unabomber

Car Leasing

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In short, in my opinion:

If you're going to buy a new car anyway, then go for it.

If not, you're ultimately spending more than you otherwise would.

Edit: by 'new' I mean brand new

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Ive got a BMW 120D M Sport on a 40 month lease from Sytner Leicester. Ive got 17000 miles yearly allowance because of my commuting so makes perfect sense to bang the mileage on it and get a new one after the contract.

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In short, in my opinion:

If you're going to buy a new car anyway, then go for it.

If not, you're ultimately spending more than you otherwise would.

Edit: by 'new' I mean brand new

 

I won't be buying a brand new one, I am either going to lease or but one a few years old for around £7k.

Ive got a BMW 120D M Sport on a 40 month lease from Sytner Leicester. Ive got 17000 miles yearly allowance because of my commuting so makes perfect sense to bang the mileage on it and get a new one after the contract.

Yeah that's what i'm thinking, just keep upgrading after each lease.

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I won't be buying a brand new one, I am either going to lease or but one a few years old for around £7k.

Yeah that's what i'm thinking, just keep upgrading after each lease.

Was really impressed with Sytner aswell. You get a decent warranty/servicing, breakdown cover, home assist all included. And a very nice hamper lol Would have a 1 series over an A3 all week long.

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I won't be buying a brand new one, I am either going to lease or but one a few years old for around £7k.

Yeah that's what i'm thinking, just keep upgrading after each lease.

Thats fair enough, then to my knowledge you'll ultimately spend more on leasing a brand new car.

Of course the toss up is you gain the convenience of servicing etc plus the fact that every 2/3 years you get an exciting brand new car again and you're less likely to have reliability issues.

Personally I've chose to own my cars mainly so that it doesn't get taken into account when getting a mortgage but I wouldn't say that I'd rule it out down the line.

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Was really impressed with Sytner aswell. You get a decent warranty/servicing, breakdown cover, home assist all included. And a very nice hamper lol Would have a 1 series over an A3 all week long.

Nah I love A3s.

 

What was your deposit/initial payment if you don't mind me asking?

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Nah I love A3s.

 

What was your deposit/initial payment if you don't mind me asking?

Christ, now youre asking. I part exchanged but I think it was about a 7000 deposit (ish) and £350 a month. Obviously I am paying for the high mileage allowance. Tip for you - go on the last few days of the month. I hammered them for discount and they were desperate to increase their monthly figures as they hadn't met them.

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Like throwing money in the bin. Just save until you can afford to buy outright.

That is such a contradiction. You do realise a new car loses up to 11% of its value as soon as you drive it off the forecourt. I would never buy a new car outright. Plus I will never have to pay for a MOT or service.

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That is such a contradiction. You do realise a new car loses up to 11% of its value as soon as you drive it off the forecourt. I would never buy a new car outright. Plus I will never have to pay for a MOT or service.

Save until you can buy a car that's a few years old outright is what I meant.

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I'd always but a car that's been previously leased. Three years old, well looked after and the major depreciation has been paid for. Most have done about 20k miles so they're barely broken in given that most modern cars of a certain quality (I.E. Japanese, German, Swedish) will do 200k miles easily.

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Save until you can buy a car that's a few years old outright is what I meant.

Depends what you want though. New cars don't need MOT for 3 years which will save me money. Servicing and warranty is covered which will also save me money. Plus the likelihood of it ever going wrong is much lower. And I get to drive around in a new car. Obviously it depends what you want out of a car. For me I love driving and cars so I get pleasure from having a new one.

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Very useful if it is provided via the company you work for as you can drive it like you stole it, usually a limit on mileage if done privately.

 

Hassle free driving at the end of the day. Just make sure you get the lease company to de-badge their advertising as much as possible upon delivery.

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JD Rockefeller one of the most successful businessmen of all time once said. 'If it appreciates in value, buy it. If it depreciates in value, lease it'.

Leasing cars are the best way to have a new car every 3 years with zero hassle.

As long as you take the full maintenance package (make sure it includes tyres) and get a decent mileage allowance, you cannot lose.

Buy a brand new A3 Sport and it would be around £25k. In 3 years that would be worth about £10k. In that 3 years you'll probably spend about £5k on maintenance and service. So thats £20k lost.

You can lease the same car on full package for £400 per month which is £14,400 over 3 years but with zero hassle.

One thing I would say is register a business name and lease it under the business package as its always cheaper.

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JD Rockefeller one of the most successful businessmen of all time once said. 'If it appreciates in value, buy it. If it depreciates in value, lease it'.

Leasing cars are the best way to have a new car every 3 years with zero hassle.

As long as you take the full maintenance package (make sure it includes tyres) and get a decent mileage allowance, you cannot lose.

Buy a brand new A3 Sport and it would be around £25k. In 3 years that would be worth about £10k. In that 3 years you'll probably spend about £5k on maintenance and service. So thats £20k lost.

You can lease the same car on full package for £400 per month which is £14,400 over 3 years but with zero hassle.

One thing I would say is register a business name and lease it under the business package as its always cheaper.

£5k maintenance to a brand new car under warranty? What the hell do you do to your cars. Unless you do anything stupid it shouldn't be more than the cost of a service.
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Or just by the car when it's three years old and sell it three years later and it will cost you about £5k in depreciation and servicing with minimal hassle.

With leasing you a brand new car you are forever paying off the first few years if depreciation plus interest. It's rarely a good deal.

Though if you can get favourable business rates then it is much better value - the likes of BMW and audi practically give away their cars to some businesses as a form of marketing

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£5k maintenance to a brand new car under warranty? What the hell do you do to your cars. Unless you do anything stupid it shouldn't be more than the cost of a service.

Over 3 years thats nothing.

There will usually be a couple of unexpected issues. Some bastard denting your car in a multi storey and fvcking off without leaving details for instance. Or when your 3 year old climbs into the front using the indicator as a swing bar and wrenches it clean off. Or finally when you let your wife drive it.

Lease it. Any problem, give it back and get a replacement whilst its being fixed, then carry on as normal.

Like I said though, always do it as a business lease. Prices are so much better.

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