Unabomber Posted 10 August 2015 Share Posted 10 August 2015 Does anybody have any experience or advice on this? I am looking at getting a new car, more than likely an A3 and might lease but I don't know if it's worth doing. Link to comment Share on other sites More sharing options...
Strokes Posted 10 August 2015 Share Posted 10 August 2015 Vehicles values plummet so quick, it's not really that bad of an option. Never done it myself though. Link to comment Share on other sites More sharing options...
Kent Posted 10 August 2015 Share Posted 10 August 2015 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 Link to comment Share on other sites More sharing options...
Wymsey Posted 10 August 2015 Share Posted 10 August 2015 Might help: http://www.consumerreports.org/cro/2012/12/pros-and-cons-of-leasing/index.htm Link to comment Share on other sites More sharing options...
Larry_LCFC Posted 10 August 2015 Share Posted 10 August 2015 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. Link to comment Share on other sites More sharing options...
Unabomber Posted 10 August 2015 Author Share Posted 10 August 2015 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. Link to comment Share on other sites More sharing options...
Larry_LCFC Posted 10 August 2015 Share Posted 10 August 2015 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 Would have a 1 series over an A3 all week long. Link to comment Share on other sites More sharing options...
Kent Posted 10 August 2015 Share Posted 10 August 2015 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. Link to comment Share on other sites More sharing options...
Unabomber Posted 10 August 2015 Author Share Posted 10 August 2015 Was really impressed with Sytner aswell. You get a decent warranty/servicing, breakdown cover, home assist all included. And a very nice hamper 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? Link to comment Share on other sites More sharing options...
Larry_LCFC Posted 10 August 2015 Share Posted 10 August 2015 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. Link to comment Share on other sites More sharing options...
Frank to be Posted 10 August 2015 Share Posted 10 August 2015 Like throwing money in the bin. Just save until you can afford to buy outright. Link to comment Share on other sites More sharing options...
Larry_LCFC Posted 10 August 2015 Share Posted 10 August 2015 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. Link to comment Share on other sites More sharing options...
Frank to be Posted 10 August 2015 Share Posted 10 August 2015 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. Link to comment Share on other sites More sharing options...
Footballwipe Posted 10 August 2015 Share Posted 10 August 2015 Just done a PCP on an A3. Worth doing. Link to comment Share on other sites More sharing options...
ChrisFilter Posted 10 August 2015 Share Posted 10 August 2015 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. Link to comment Share on other sites More sharing options...
Larry_LCFC Posted 10 August 2015 Share Posted 10 August 2015 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. Link to comment Share on other sites More sharing options...
Steve_Walsh5 Posted 10 August 2015 Share Posted 10 August 2015 If your thinking of getting a mortgage within the next year or 2 I wouldn't bother getting a lease car just yet. I've looked into leasing before, it looks like a good idea but I didn't like the fact that I'd never own the car and would always be paying monthly for it. Link to comment Share on other sites More sharing options...
Costock_Fox Posted 10 August 2015 Share Posted 10 August 2015 Just done a PCP on an A3. Worth doing. I've got a Fiesta ST on PCP, at least means I can pay for it outright at the end of the agreement if I want to. Link to comment Share on other sites More sharing options...
Samilktray Posted 10 August 2015 Share Posted 10 August 2015 Is insurance and tax included when you lease? I've always been told it is Link to comment Share on other sites More sharing options...
Larry_LCFC Posted 10 August 2015 Share Posted 10 August 2015 Is insurance and tax included when you lease? I've always been told it is Not on mine its not. Im sure they offer insurance for an extra fee. Tax is down to you. Link to comment Share on other sites More sharing options...
m4DD0gg Posted 10 August 2015 Share Posted 10 August 2015 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. Link to comment Share on other sites More sharing options...
Bettsj2 Posted 10 August 2015 Share Posted 10 August 2015 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. Link to comment Share on other sites More sharing options...
Babylon Posted 11 August 2015 Share Posted 11 August 2015 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. Link to comment Share on other sites More sharing options...
Frank to be Posted 11 August 2015 Share Posted 11 August 2015 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 Link to comment Share on other sites More sharing options...
Bettsj2 Posted 11 August 2015 Share Posted 11 August 2015 £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. Link to comment Share on other sites More sharing options...
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