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Peugeot Just Add Fuel

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grimboj
grimboj Posts: 39 Forumite
Part of the Furniture 10 Posts Combo Breaker
edited 10 January 2011 at 12:39AM in Motoring
Hi,

Looking for opinions on peugeots just add fuel scheme, I saw an old thread but it didn't conclude much about it. In short: free insurance for 3 years if you lease or lease-to-buy.

http://www.peugeot.co.uk/showroom/latest-offers/just-add-fuel

Here's my logic. Because of my age, area and only 3 years NCB I'm looking at best case £1,250 for an insurance group 1/50 car. I actually have an '05 fiesta which is group 13 and £1,500 (AFTER haggling them down with quotes elsewhere). Last year I also had a £600 MOT including suspension replacements which has worried me a bit.

After looking through many options I'm feeling like the just add fuel is my savior. I'm not sure whether to get lease or final payment scheme but here's a recap of why it's good for me:

*Free insurance for the 3 years
*No MOT ofc. on new car
*No tax, free breakdown cover

On a basespec 207 I think I'm looking at £200 per month. On paper this equates to £2,400, the first £1,500 covering my car insurance, TAX+MOT+Breakdown is probly £300 on average so that leaves them making £500 if my MOT is ok, something I can live with.

I could put my fiesta down for a £2,750 - £3,000 deposit hopefully so leasing to buy might be a better option.

I've read the FAQ and I qualify for the insurance atleast on paper.

What I don't want to do is find I'm rejected for the insurance after being tied into a lease agreement and left without a car or some other even worse nightmare.

I say 207 because I don't like the way the 107 looks and the finance quotes aren't much better for a 107.

All help appreciated.

Comments

  • wba31
    wba31 Posts: 2,189 Forumite
    grimboj wrote: »
    Hi,

    Looking for opinions on peugeots just add fuel scheme, I saw an old thread but it didn't conclude much about it. In short: free insurance for 3 years if you lease or lease-to-buy.

    http://www.peugeot.co.uk/showroom/latest-offers/just-add-fuel

    Here's my logic. Because of my age, area and only 3 years NCB I'm looking at best case £1,250 for an insurance group 1/50 car. I actually have an '05 fiesta which is group 13 and £1,500 (AFTER haggling them down with quotes elsewhere). Last year I also had a £600 MOT including suspension replacements which has worried me a bit.

    After looking through many options I'm feeling like the just add fuel is my savior. I'm not sure whether to get lease or final payment scheme but here's a recap of why it's good for me:

    *Free insurance for the 3 years
    *No MOT ofc. on new car
    *No tax, free breakdown cover

    On a basespec 207 I think I'm looking at £200 per month. On paper this equates to £2,400, the first £1,500 covering my car insurance, TAX+MOT+Breakdown is probly £300 on average so that leaves them making £500 if my MOT is ok, something I can live with.

    I could put my fiesta down for a £2,750 - £3,000 deposit hopefully so leasing to buy might be a better option.

    I've read the FAQ and I qualify for the insurance atleast on paper.

    What I don't want to do is find I'm rejected for the insurance after being tied into a lease agreement and left without a car or some other even worse nightmare.

    I say 207 because I don't like the way the 107 looks and the finance quotes aren't much better for a 107.

    All help appreciated.

    Speak to a dealer... I have been insured on a Peugeot lease scheme (but as my dad works for them) and they asked no questions about me being insured, i was simply allowed to drive anything from the garage barring vans. I had a 1.6hdi 307 to start with, then a 2.0hdi xsi as my second car (which was the top of the range at the time), i was only 21. I know its different as mine was through an employee scheme, but its worth asking exactly how it works. I stopped after the 2 cars as i had 2 years no claims but would have lost them after 2 years due to the insurance being the garage's business policy, and not my own or something?

    what type of fiesta do you have for it to cost you so much with 3 years no claims?
  • vikingaero
    vikingaero Posts: 10,920 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    What's the annual mileage limit? Most lease schemes love to quote using 6,000 miles per annum. If that fits in with your lifestyle then that's fine.
    The man without a signature.
  • grimboj
    grimboj Posts: 39 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Thanks for your replies.

    My area is the main problem, I live in manchester, if I get a quote further out toward the ring road (as little as 2-3 miles further out) I get £600/year. Massive saving and I'm in a student area that feels safe. But my rent is so cheap that I can subsidise the cost of insurance against my rent i.e. £125/month is cheaper than my rent would go up if I lived in one of those areas.

    I found the catch, when you reverse calculate the 107 finance example it comes to 36.5% APR. Not sure why they write Typical 9.9% APR on their website, I'm sure they view it differently but that's how I view a direct comparison.

    My figures are rough as I closed the spreadsheet.

    107 envy - 9795
    deposit - 1100
    final payment - 4200
    missing amount - 4500
    interest on missing amount - 2500
    monthly repayment - £199
    Est APR on 35 months 36.5%

    This is based on peugeots own website, on a microsite for my regional dealer.
  • grimboj
    grimboj Posts: 39 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    edited 10 January 2011 at 11:11PM
    Oh and also, the terms and conditions say you have to pay peugeot £200/year (for 107 envy example) as long as you own the car (i.e. AFTER you've completely paid the finance), they don't even try to explain why this is the case, so if you own the car for the rest of your life you pay £200/year for the rest of your life. HMMMMM!?!?!?!?
  • wba31
    wba31 Posts: 2,189 Forumite
    How old are you? if you own your current car outright can you not stick with it and build up no claims?

    If you need a new motor someone else is posting about the moment about leasing... https://forums.moneysavingexpert.com/discussion/2964708
  • Mark_Hewitt
    Mark_Hewitt Posts: 2,098 Forumite
    grimboj wrote: »
    Oh and also, the terms and conditions say you have to pay peugeot £200/year (for 107 envy example) as long as you own the car (i.e. AFTER you've completely paid the finance), they don't even try to explain why this is the case, so if you own the car for the rest of your life you pay £200/year for the rest of your life. HMMMMM!?!?!?!?

    That's the point of leasing, you don't own the car at the end of it!
  • be warned my daughter was due to pick up her just add fuel car tomorrow!!!!! only on peugeots website under frequently asked questions for just add fuel are 2 statements " yes you earn no claims discount " " will i lose my current no claims discount entitlement " it replies "no it is continued rolling cover " be warned the second statement is a lie!!!!!!!!!!!! after phoning peugeot insurance company tonight i was told that because the insurance is free my daughters hard earned and paid for, 3 years from new driver, no claims discount entitlement could not be transferred . ive now got my daughter all upset cos she cant have her new car.
  • DCFC79
    DCFC79 Posts: 40,641 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    wba31 wrote: »
    How old are you? if you own your current car outright can you not stick with it and build up no claims?

    If you need a new motor someone else is posting about the moment about leasing... https://forums.moneysavingexpert.com/discussion/2964708


    i think it was the cost of insuring her current car thats the issue
  • 6667 annual mileage limit mind.
    Went shoplifting at the Disneystore today.

    Got a huge Buzz out of it.
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