Personal car lease, too good to be true?

fRAiLtY-

Thanks neilmcl, at least someone gets it!

smitchy73

maninthestreet wrote: »

The deal-clincher must surely be the inclusion of Ling's sexy first aid kit.

Yeah you're right thats a closer for any deal, sometimes it's a magnet too.:j

Idiophreak

Strider590 wrote: »

Suddenly that fake social status you obtained with a Merc/BMW/etc, is gone and your wannabe middle class "friends" abandon you.

Seems a bit pessimistic? I know it does, but I saw this happen to no less than 6 people between 2009 and 2010.

Lol, so were you the one doing the abandoning?

bob_a_builder

or maybe he's just not be middle class or a wannabe

mcfisco

Those Merc deals are bonkers - just shows you how residuals affect the price massively

rexmedorum

fRAiLtY- wrote: »

Hmmm, why would I want to spend my savings doing the opposite to what I'm trying to achieve by saving, i.e. in a savings account it will gain interest and increase (albeit slowly). If I spend it on a car, it's tied up and at the end of it is worth less. I don't see how it's "living on credit", presumably though paying £35k for the car new outright, only to sell it 2 years later for, according to Parkers, £20k if you're extremely lucky at a dealer, £15k is you're unlucky privately. So, in that 2 years you've tied up £35k, then 2 years later got £15-20k of it back, so you've lost, in this example, around 50% of your money. You could lease the same car, again in this example, for just over £7k, then hand it back and get another.

I'm all for owning assets, but why own something that depreciates, it's akin to buying a house in 2007 for £150k knowing what was about to happen, then selling it now for £120k and claiming that's good business? Yes I could lose my job, my house, and my friends - although I'm not aware I have any, but then I could die as well! If I lose my job whether I own a car or not is going to be largely irrelevant, the house will be my primary concern.

I like my cars (despite owning a Renault), I'm not afraid to say that and I'm not afraid to say I'd like a better class of car. If you'd have seen my hairstyle and dress-sense you'd realise that my "image" or how I appear to others is really not a priority of mine, I'm so far behind the proverbial "Jones'" I meet them on the way back! I've owned a french piece of motoring genius for 7 years, I've driven many Vauxhalls including a brand new Insignia and that was underwhelming, Fords I simply don't like. I don't think you can beat the quality and feel of a German car, so yes it is a jump in class, but from a Renault a pair of rollerskates would also be.

Thanks everyone for the responses, it's good food for thought!

Cheers.

sure if you must have a new car and keep it only 2 years. AND this costs less in total than the depreciation, fine. Do check the conditions carefully, and rmember: what suits you now may not suit you if say you're job moved further way etc.

Even so 8602.16 (bit more than 7k) is a massive amount. For that money you could buy a nice approved used car from a main dealer. I know which I would prefer, but I guess if you want to drive an up to 2yr old c class it looks like a good "deal"