Does anybody lease their car?

motorguy

BigBouncyBall wrote: »

What are the downsides? I can't really see any other than the fact at the end of the 2/3 years you don't have an asset to sell.

I've found a car i really like for about £159 p/m for a 3+23 month deal. equalling a total of £4134 for the 2 years which must be equal to or better than the depreciation of a £17000 car over that same time? So it seems to work out well.

Am i missing something obvious here?

Can you give us more infor about the car in question? Also, most lease prices are ex VAT. Is that a VAT inclusive rate you've quoted us?

vikingaero

£159 pm sounds like a 6k mileage limit per annum. Fine if you don't ever go anywhere.

BigBouncyBall

Hi sorry i meant to reply sooner.

The car im looking at is a Nissan Qasqai 1.6. 10000m per anum and £179 for a 3+23 deal. It'll be a business lease so i don't need to worry about VAT.

(Im sure i found one at £159 but maybe that was for 6+23 deal )

Here is the deal:

http://www.oaktreecarleasing.co.uk/process.php?formid=dealdetail&id=52725

There are plenty offering this price so there might be room for beating one of them down to £165 or so.

Hintza

I can find the car new for £12,600 without trying. So your not looking quite as good. Do your sums carefully.

BigBouncyBall

*scratches head*

someone at the leasing company has been telling me porkies

Hintza

I just had a quick squiz on here:-

http://www.honestjohn.co.uk/best_deals/index.htm?mk=NIS&md=1146&p_s=&clr=1

Money_Grabber13579

pgilc1 wrote: »

Can you elaborate on that?

Essentially, you'll earn next to nothing in the bank. But the amount you'll be paying out will be a lot more than just cost value of the car i.e. the profit the lease company will make. It's kind of hard to explain...:o

plane_boy2000

I lease and it suits me just fine. I have a large french car which as we all know are prone to HEAVY depreciation, but the cost to lease is really good. I got a factory build to my spec at a good price - no worries for me, just have to service it and hand back. Would never have bought the same car with my own money.

I tend to look after my cars, and my last car went back with no noise from the leasing co, but I gather that they can be a little punitive upon return if there is damage over and above fair wear and tear.

For me there are no downsides - most people will go "but you dont own it" - I dont care - I dont want to own it, just drive it and get a new one at a later date.

flyingscotno1

See I tend to get year old cars after the heavy hit, and over 3/4 years the difference ATM is negligible slightly to the owning side.

I might lease but I'm fussy about my cars!

plane_boy2000

You also need to factor in the stuff you get with a lease - in my case breakdown cover, warranty, and VED for the duration - I just have to insure it and fuel it and service it