Car Leasing Options

dougie212

Hi There..

Just putting in a bit of research here, and could do with some help please.

We have over the years brought cars through having bank loans, paying them off and buying a new car, repeating the process... Always 2nd hand cars 8-10 years old and always fell lucky really with low mileage and good condition.

My wife has now been thinking it would be rather nice now that we try and get ourselves a newer if not new car. I have been advised that a way of getting a new car and having the option of replacing it every 2-3 years is leasing.

Does anyone have any experience with personal car leasing and can anyone recommend any companies to me please. I'm led to believe that there are companies that include the servicing into the lease price... Is this true?

Many thanks

Duncan

thegirlintheattic

It is true but you need to consider if your willing to pay a lot of money a month for a car you will never own. You also need to be aware that you will pay extra for any excess mileage.

johnswife

I have had leased cars, company and private.
I have a C1 splash which suits me fine as I do low mileage but it is quite nippy.
Done through Citroen finance and pay £149.97 per month. Tax is £20 a year.
I paid about £250 when I had it for a three year maintenance contract. I just had it serviced and they replaced the wiper blade.
My husband just reminded me that it's not actually a lease because after 3 years I can pay a sum to keep the car or hand it back.
For me I have the peace of mind that the car will never break down. well up to now I have never had a problem with a leased car.

FATBALLZ

thegirlintheattic wrote: »

It is true but you need to consider if your willing to pay a lot of money a month for a car you will never own. You also need to be aware that you will pay extra for any excess mileage.

The best thing to compare the cost of leasing to is the depreciation of the car. You may never own the car, but almost all cars fall in value every day so there isn't the same benefit to owning them that you get with, for example, a house.

I leased a car once, it would have cost £9k. I paid £200 a month, I paid off the finance in full for £6750 a year later, and sold the car for the same amount. If I'd owned it I'd barely have been any better off. So it can be a good option for some people, if not the most 'moneysaving' thing to do.

dougie212

Thanks Johnswife..... The appeal of having the servicing included in the contract does tempt me to be honest.. And of course theres the chance of having a new car every 3 years... Are you able to recommend any lease companies you may have used please?

Duncan

johnswife

I can't remember all the names as the company leased cars were done through hubby's previous employers.
I like citroens so we go through them.
My husband is leasing a Nissan though Network a brand of LeasePlan UK Limited and we have had no problems.
My husband said to look around as they do differ and he got the best deal in Bolton (we live in Gloucestershire) So look around, doesn't matter where you apply as they deliver to your door.
Good luck

property.advert

The problem I have with leasing is that they use the full price of the vehicle when working out the lease figures and you know they are not paying anywhere near that amount for the car in reality. Neither would you if you had cash in your pocket.

So it really does require you to get out the pen and paper or even better the spreadsheet and crunch the numbers.

For me, whichever way I break it down, the numbers never stack up in my favour and so I have never leased a vehicle.

What with cars being so good these days, owning it after a few years means you can decide to just keep it and not bother with a new one, saving the money instead. With leases, you pay for the car and then don't own it.

Hintza

property.advert wrote: »

The problem I have with leasing is that they use the full price of the vehicle when working out the lease figures and you know they are not paying anywhere near that amount for the car in reality. Neither would you if you had cash in your pocket.

I think this is truer now than it was 4-5 years ago. There were some stonking deals around.

The name of the game is choosing an unpopular car or a model about to be superceded by a new version. Go for the deal and not the car.

If the car model is important to you in most cases it will be cheaper to buy. You need to get a spreadsheet up and running and compare all costs but in most cases today leasing looks more expensive.

The advantages are of course know costs over the term and you don't have the hassle of selling it. Many on here moan that you never own it but to me that is a huge plus.

Personally I have moved away from leasing as I can't get the sums to work now.

Some manufacturers are starting to do their own "just add petrol schemes" which could be worth a look.

nonnatus

I've just entered into my first car lease and I couldn't be happier!

I used Lings cars, she's the bonkers Chinese lady who appeared on Dragons Den and she pops up on here sometimes as well.
The process was made SOOO simple by Ling and her team and the communication has been faultless.

I'm paying £135-ish a month for a brand new citroen C2 (5dr).
That includes MOT. (but a new car doesnt have to have an MOT for 3 years anyway) I have to insure it, put petrol in it and get it serviced (oil change) once a year by the garage of my choice.

I have driven around in old bangers for so many years and spent so much time and money in garages that it's a joy to have a new car with no problems. I'm very happy!

Ultrasonic

dougie212 wrote: »

We have over the years brought cars through having bank loans, paying them off and buying a new car, repeating the process... Always 2nd hand cars 8-10 years old and always fell lucky really with low mileage and good condition.

I'm not quite sure whether to post this. I don't mean any offence by it and mention it just in case it is helpful.

Probably your circumstances have changed, but if in the past you have needed a bank loan to buy 8-10 year old cars are you certain that you would be able to afford the much higher costs of leasing a new car? Somebody correct me if I'm wrong, but I think with car lease schemes you will usually be signing a contract committing you to the payments over a number of years. You don't want to get tied into a contract like that and then run into difficulties keeping up the payments.

Personally, I've never bought (or leased) a new car, and am very happy driving cars a good few years older (my current car is 7). But then I do want others to keep buying new cars so I can keep doing this!

Ultrasonic

nonnatus wrote: »

I used Lings cars, she's the bonkers Chinese lady who appeared on Dragons Den and she pops up on here sometimes as well.

I just looked at their website to get an idea what was on offer. What a scary website :eek:. I haven't seen one that badly designed in years. The company may be very good, but the website makes them look monumentally dodgy!

Edit to add link: http://www.lingscars.com