Leasing Luck

Buckley22

Hey everyone....i'm looking for experience, good or bad, in car leasing. Specifically around peace of mind.

My 11th car has blown up and I'm at my wits end now how to keep myself on the road, hassle free. I've never had the money to pay for anything too new, running on a budget between 750 & 1500. But despite the probablilities I've managed to collect a series of catastrophic failures that lead me to scrap each of my last 11 motors I've had in the last 8 years (I even bought a Volvo, only for it's cambelt to snap in 4 days).

Basically, I'm now utterly terrified of buying a car again incase it goes wrong, and the more money I'm paying, the more worry (My last car cost 1000 pound and I had it for 6 months....imagine if I spent 3K on it!!!)

Looked into car leasing and the costs aren't too much more than saving for a car, getting it on the road, and covering minor repairs until it inevitably explodes after 9 months....but I'll pay that if the warranty means if anything goes wrong, I don't have to worry.

Obviously I've been advised that warrantees only cover certain parts and changes over the years....but I would like to know what this translates into in real life. Does a manufacturers warranty really give you peace of mind? Does a lease car's warranty differ from that of a Purchased car? If not, what else can I do to avoid spending nealry 200 quid a month on a 10 year car for 6 month??

I'm not chasing status either, I've never had a car younger than 10 years and I'll be happy with that if there is a viable way of keeping one running for more than a year. (I'm at my wits end. I'm even looking into Toyota HiLuxs on the basis they are they onyl vehicle that can almost boast being indestructible.)

Hammyman

You are either extremely unlucky and buy sheds to begin with or don't take care of them. I've had cars of all ages and mileages and usually get at least a couple of years out of them before selling on still working usually to family members who then put another 50k or more on them. The last 3 cars I sold went to my brother with over 100k on. He took them to over 200k in the space of 3 years each.

buckley222

Well I was going for the extremely unlucky bit, but it's likely a mixture of all three....

....Thing is I just don't want to risk going through it all again. Car Leasing seems to give you basically a permanent manufaturers warranty, by obviously I'm always lookin out for the catch.

Is the warranty really peace of mind?
Is the warranty the same as a new car or is it balanced in the leasing firm's favour.?
Would I be effectively trading in one set of unforseen costs for a more expersive set?

forgotmyname

Service them? Check the oil & water. Drive it gently like something is about to fall off.

2nd hand warranties are usually worthless.

Buy cars that are cheap to fix and not choose by what car you want even though repairs are
outside the budget.

I presume you dont work on them yourself? Initial cost of tools usually outweighs garage charges.

buckley222

Trust me - I've done that. First thing I've done is top up the oil and water. The last 2 have gone after going in for service/MOT, the one before this one 6 days after getting it back. I've had mainly Fords and the first thing I considered was always budge.

Basically I've had it to the back teeth with having nothing but my own wallet for back up.

Car Leasing seems to have all the answers but I'm sure there's a catch. Having never got anywhere close to a warranty, 1st, 2nd or 8th hand, I don't know whether or not a new leased car will give me the peace I want.

buckley222

OK...Let me rephrase the question.

I no longer want to take a risk on running an older, warrantyless car!
Does car leasing provided the same warranty as buying a car new?
If I only enter into 2 or 3 year contracts, does that mean I'll effectively have a permanent warranty?
I imagine a warranty works so that should I have any car problems (aside from wrapping it round a lampost) I give it back and they fix it, but I'm usually wrong about these things - What am I missing?
What are the hidden costs behind leasing that can surprise you?

getmore4less

What you need probably is a lease that does everything like a company car one.

You just add fuel.

Doubt these will be cheaper than running a car even with finance.

11 cars in 8 years at £1500 is only £175pm, so less if you are paying getween £750-£1500, whats your average including maintanence?

Not sure you will get a lease car for that
http://www.honestjohn.co.uk/best-deals/personal-contract-hire
picking one off the list,

Well it looks like you can get close(check the deatails) this one looks like it includes maintanence for 182pm and 10k miles a year
http://www.comparecontracthire.com/quote/7/contact.php

So a ford KA could be your next car.

here are some more details
http://www.comparecontracthire.com/personal-contract-hire.php

I think you may have been looking at the wrong sort of cars look for the ones no one wants like an old daewoos plenty of low mileage with 12months MOT for your old budget.

Fords to many bad ones out there so much higher risk.

buckley222

Probably, with MOT costs, Road Tax and Repairs, I've spent around 100-120 a month...of course it's been a bit more recently, up around 150-200 (purchase, tax and repair costs - 1260 on an Escort that lasted 8 months and 1670 quid on a Mondeo that lasted 7 months)....But also in that are periods when I've been carless, saving to buy a replacement.

Financially I think I can cover it, even up to 170-200 PCM....But in that cost I want peace of mind that if I get a dud car, or something falls off, I don't have to pay for it. Will a manufacturer's warranty, through a leasing firm, cover this? Will I have to pay extra on a lease for it? Where are the grey areas that I'll get stung on.

maninthestreet

Manufactuers' warranties aren't affected by leasing the car instead of buying it. Go and buy 'What Car?' magazine, where they explain all the different options for car ownership.

forgotmyname

An old escort should have cost peanuts to repair, Not much to go wrong cheap parts. One of the cars
to have on a budget.
I did the cambelt & waterpump on one it was so easy, Even with having to remove the locking wheelnuts with no key.

bengalknights

Consider personal contract hire with a service and maintenance contract although you would probably only pick up small range cars for less than £170.