Is it possible to get Contract Hire on Pre-owned car?

in51der

Inactive wrote: »

Thanks for that In51der, but that doesn't tell me anything that I didn't know, nor does it resolve the point at issue re;

Pre owned / pre registered.

"From a customer’s point of view there are huge savings to be had buying preregistered cars but there are downsides. Firstly, the dealership is recorded as the first registered keeper of the vehicle (meaning that when the car is sold on it has had two owners instead of one"

Inactive

in51der wrote: »

"From a customer’s point of view there are huge savings to be had buying preregistered cars but there are downsides. Firstly, the dealership is recorded as the first registered keeper of the vehicle (meaning that when the car is sold on it has had two owners instead of one"

Yes I know all of that, that still doesn't answer the issue.;)

albionrovers

"
I then went to Audi nearby for quote on A3... now this time the salesperson asked me if I wanted new or pre-registered.

So I suppose it is possible to get personal car hire/lease on a pre-owned car?
"

To me, the pre-registered is the 08 plate and the new one is a 58-plate....which would have a higher monthly lease rate.

But what does it matter, to a OP/leaser who will never own the car, how many owners the car has?....both cars are new?

Could the OP verify please?

loofer

albionrovers wrote: »

"
I then went to Audi nearby for quote on A3... now this time the salesperson asked me if I wanted new or pre-registered.

So I suppose it is possible to get personal car hire/lease on a pre-owned car?
"

To me, the pre-registered is the 08 plate and the new one is a 58-plate....which would have a higher monthly lease rate.

But what does it matter, to a OP/leaser who will never own the car, how many owners the car has?....both cars are new?

Could the OP verify please?

Correct, the no of owners doesn't matter as long as it has been maintained.

I guess I'm after a fairly new car (upto 12 months old from first reg) to lease over three years. There's loads of options to lease a new car but borrowing from new is basically covering the bulk of depreciation.

Personally, it made sense for me to get a car that was nearly new and had bore the brunt of depreciation rate in first year.

Problem is you can walk into any showroom and they will give you a quote on a New car (unregistered) for PCP/Lease and you don't necessarily know if it's the best deal ...you take it at face value. However, because the cars are new - you can spec it how you like and also go to several different dealers that offer new cars and get the best deal. Basically you can get the same product hence makes comparing quotes easily.

With trying to lease a pre-owned car (12 months old, under warranty, a few thousand miles etc) you are a little more restricted. The car you like, at the price you want, may only be available at select dealerships. You go to them and they give you a quote for PCP/Lease - again I could probably negotiate but how do I know if there is a better finance provider.

Am I making any sense/asking for too much/talking out my @r? I don't know much about car industry etc. I've only ever paid upto £4k for a car and previously would have never dreamt of leasing as I always thought of it as Dead Money - and you never have an asset to show for it. Similarly I would have been reluctant to borrow money to purchase a depreciating asset. I think I've just got an urge to drive a new(er) car all of a sudden.:p

albionrovers

For a lease deal, I don't get the pre-owned thing when new cars are so cheap?

Why not simply go for personal lease eg. 3+23?

My wife's Audi A3 arrives today, a shade over £210/month inc VAT. 58-plate, cheap as chips.

loofer

albionrovers wrote: »

For a lease deal, I don't get the pre-owned thing when new cars are so cheap?

Why not simply go for personal lease eg. 3+23?

My wife's Audi A3 arrives today, a shade over £210/month inc VAT. 58-plate, cheap as chips.

Now that is a good deal (even if it is entry level 1.6). Which model was it? I'm after a 2.0 TDI pref S-Line

Because I don't really intend to take ownership of the car at the end of lease (unless I really want o keep it) I'm not really bothered weather it's a regular 3+36 lease or PCP with £2kish deposit upfront.

PCP gives me the option to purchase car at end (unlikely) but also flexibly to hand back after half way through if I needed to - so I've been told.

I've only had one comparative quote for the same car on PCP and regular lease. The lease came out more expensive over 3 years even taking into account the smaller deposit.

Why pre-owned?? Even cheaper still. I could buy a brand spanking new car, or I could get a nearly new one which is a few months older and has some mileage on it. Basically the same car - I'm only missing the new car smell:o - but it costs me less.

Here's how I understand PCP to work - I'm completely guessing this so please do correct my assumptions.

a) OTR Cash Price of Car: £22,000
Customer wishes to have the car for 3 years and will cover say 10k miles.
b)Dealer works out what resale/minimum future value will be of car in 3 years time after covering 30k miles.(I would be intrested to know how they work this out - hope it's not arbitary or different for certain/preferable customers) say £10,000
c) a-b=£12,000 This is cost of car to borrow for next 3 years.
d) deposit = £2000
e) need to finance (c)-(d)=£10,000
Basically it works like a loan from there... you want to borrow £10k over 36 months ... they apply the interest and work out the monthly payment.

albionrovers

It's a black A3 1.6 SE Sportback. £5573.62 for the 2 years. Looks very nice, I haven't driven it yet and yes it will be a tad under-powered but it ain't me that's driving it.

Can't fault your calculations because I only do personal lease as described above, 3+23, and hand the car back every 2 years. I never have any intention of keeping the car after that, I always want a new one with full dealer warranty.

Keeps me in hot dinners too.

loofer

albionrovers wrote: »

It's a black A3 1.6 SE Sportback. £5573.62 for the 2 years. Looks very nice, I haven't driven it yet and yes it will be a tad under-powered but it ain't me that's driving it.

Can't fault your calculations because I only do personal lease as described above, 3+23, and hand the car back every 2 years. I never have any intention of keeping the car after that, I always want a new one with full dealer warranty.

Keeps me in hot dinners too.

That's a good price for an SE SPORTBACK... and just for a 2 year deal!? Can imagine it would have been a sub £200 deal for a 3 door over 3 years! Unless this specific model was on offer. You know they got the facelift model arriving now? Would you be kind enough to share where you got the deal?

Warranty - That's one thing I have to be weary of with pre-owned. The older the vehicle I get, the longer it will be 'out of warranty' at the back end of the lease period - sod's law is that most of the problems occur just after warranty peiod ends:mad: .

albionrovers

It is the new shape 09.

Lingscars......good service, very straightforward.

Worth a look, deals may have changed tho'.

albionrovers

Check out deal number 3791 on Lings site.