Lease

Axon75 wrote: »

Is there a lengthy contract that I need to commit to?

Yes.

reply too short so I guess it depends how long you think a piece of string is.

I doubt you'll find a lease cheaper than a £500 banger

Axon75 wrote: »

Is it possible to have a car for less than £100 per month, that includes maintenance, insurance, road tax?

What kind of prices could I expect for this?

I am looking for the cheapest option!

I now pay each year:
£600 insurance
£110 road tax
£50 MOT
£120 for service
not to mention the tyres I had to change etc
So I pay at least £1000 for the car each year, apart from the fuel.

Is there a lease that can reduce my costs?

A standard lease will remove the road tax and the £50 MOT.

However you'll generally still have maintenance costs, unless its a fully maintained and therefore more expensive lease.

Axon75 wrote: »

Is it possible to have a car for less than £100 per month, that includes maintenance, insurance, road tax?

There are plenty of lease deals for under £100 per month, but it's not as simple as that - for a start insurance isn't included. Or maintenance - unless you pay extra.

Axon75 wrote: »

What kind of prices could I expect for this?

To be fair, how would we know? At a guess somewhere between £75 and £2,500 a month.

Axon75 wrote: »

I am looking for the cheapest option!

Go for the cheapest car possible then - something like a C1, and drive no more than 3,000 miles a year.

Axon75 wrote: »

I now pay each year:
£600 insurance
£110 road tax
£50 MOT
£120 for service
not to mention the tyres I had to change etc
So I pay at least £1000 for the car each year, apart from the fuel.

Is there a lease that can reduce my costs?

No. You've missed the point of leasing.

Firstly - you'll still need to insure your car - so that's got you down to £400 a year.
You won't save £120 on servicing - because you'll not only need to get it serviced, big Dave at number 43 and his box of spanners won't do. So that'll be £220 at the main dealer please.

And what if you prang it - or someone else prangs it? Those electrically heated door mirrors with metallic paint could be £800 to replace. You will be responsible for all of the 15-20-30,000 of the car's cost, not just the £99 a month you're paying out.

To put it another way. Leasing is a cheap way... to run a new car. It's not necessarily cheap motoring... for those that would otherwise not be able to afford to run a new car, because you're still running a new car. That is a subtle but important difference.

Axon75 wrote: »

So you assure me there is NO lease including service and insurance? Ie. including EVERYTHING?

Or there ARE such leases? How can I find the CHEAPEST one?

Yes, it's called daily rental, but I don't think that's what you're asking for.

With a car, you can work out the cost over 24 or 36 or 48 months for whatever mileage, and you will pay £100 per month, I will pay £100 per month and John round the corner will pay £100.

My car insurance is £125 a year. You say yours is £600. John, who after getting his licence back after the TWOC, drink-driving and multiple counts of driving whilst disqualified pays £8,000 a year. Furthermore, you cannot tell me with any certainty what your insurance will be in 12 months time. That's very hard to put a figure on, which means risk, which means underwriting, which means money.

So - to answer your question more fully, there are schemes out there but they are not money saving, and you're not he target market for them.

There are personal schemes like just add fuel where insurance is included. But you will also end up paying the same for a 108 as you could lease an E class for - as someone on here found out recently.

There are also business schemes offering long-term rentals where everything is included - but that's aimed at bridging whilst you're waiting for your company car order to be delivered or for example where an employee needs transport for a flexible period of time and the £600 a month plus VAT isn't a big deal.