£99 all in car lease (insurance, road tax & servicing)

sunbeamc

I recently drove behind a car advertising a £99 three year lease which included insurance, road tax license and servicing for a new car, but i cant remember which car or locate a website with this deal on... i wondered if anyone out there knows about this?

rs65

The Peugeot 107 on 'just add fuel' starts at £179.

Citroen C1 shows as 'from £99' but only includes 1 year free insurance and not servicing or road tax.

Can't find the one you saw, sorry.

forgotmyname

Maybe in the same light as these people that advertise work from home and earn £50,000 a week for 1 hours work a day.

You need to pay them a fee which earns them £50,000 a week.

Maybe not brand new or needs a large deposit, or its just not genuine?

From £99 a week or month? Deposit equivalent of £99 a week payable in advance? So the £99 is only the balance?

withinmymeans

I am thinking of doing one of these deals.

My husband and I share a Y-reg Ford Focus 2.0 Ghia with very low mileage, but worthless for trade in etc. Now I have had this car for 5 years. I paid £3500 for it, which means it effectively costs (or has cost) me £58.33/month. Insurance is £47 / month, (£105) road tax is £250 (£126) and MOTs and fixing stuff and the occasional service probably cost around £150-300 annually (an average of £18.75 monthly) which leaves my total motoring cost at something like £144.91/month

A brand new Peugeot 107 at £159/month (but with an up front payment of £1700) would cost me instead £163.72/month for life of the 3 year lease. I'd be paying £20 more, but driving a newer and more fuel-efficient car.

I can only do 6667 miles in the price, but then I work about 2 miles from where I live and don't do an awful lot of other driving.

OK - over 3 years I've spent an extra £700. But I won't have any unexpected things go wrong (which is increasingly likely with my elderly Focus) - and I might save a bit on petrol - so effectively I've spent £700 to upgrade from a 12 year old car to a new one. I think that's pretty good value?

foxyruby

Hi!

If you're thinking of paying £159 per month x 36, plus £1700 upfront, that means you'll be paying £7424 for the car, am I right? Which colour and model have you bought? Is it the Access in red or yellow?

These cars seem to be good value if you can avoid some of the rip-off prices out there. There's no road tax to pay and no congestion charge, and quite a few dealers are advertising brand new Peugeot 107 3-door hatchbacks for £5995 in red or yellow. HOWEVER, just try buying one at that price for cash! Even most of the Peugeot dealers that advertise them at "£5995 cash or £99 per month" wouldn't let me buy them for cash at that price, they kept telling me things like:

1) "That's for an old model madam, the new one is £6995/£7495/£7995", or

2) It's either take out our finance deal at 13.3% madam or prepare to be told that the car is "out of stock". :mad:

There was no way I was going to be locked into a deal at that high interest rate or pay £1000 to £2000 more on a cash transaction.

After a lot of hunting around, and being told that red cars fade anyway??, I managed to track down a dealer (Lookers in Cardiff) who gave me the lowest price on the silver version (£5995 plus £450 for the metallic silver plus £30 admin fee), which meant a total price of £6475. The car is in stock and available immediately.

I decided to experiment with a bit of creative financing here. I can actually lay my hands on the cash for a short amount of time, so this is what I'm going to try:

1. I've just paid £120 on my Halifax credit card to reserve the car until I can pick it up next week. I would have put it all on the credit card but the car company would have charged me 2% to do it so I just paid £120 instead, because anything over £100 means that under the section 75 regulations I will have consumer protection for the whole purchase price against my credit card issuer should something go wrong.

2. I'm going to transfer the rest from my current account next week by internet transfer so that I can pay the dealer and bring the car home.

3. Then I'm going to ask Barclaycard to do a balance transfer for the whole amount of £6475 to my Halifax credit card. They are currently offering me 0% on balance transfers for 12 months with a 2.9% transaction fee so this seems like a good deal.

4. This will make my Halifax credit card in credit to the tune of £6475. I understand that after a month any unused credit balances on my credit card will be refunded to me by cheque, or instead I can opt to withdraw £300 in cash each day and pay it back into my current account that way until the original amount is replenished. Obviously the latter method is a faff but I guess the determined moneysaver won't baulk at this and all the money will be transferred over in 21-22 days. Using this method, I should be able to enjoy 12 months of interest-free borrowing. I'm guessing that the minimum repayment will be between 2% and 3% so somewhere between £129 and £195 per month?

5. When the 12-month interest-free period expires on my Barclaycard, I will either find another good balance transfer offer or take out a cheaper loan elsewhere. Any of these must surely be cheaper than the car dealer's finance offer!

If any of you clever moneysavers out there can suggest a cheaper way of borrowing the money for a new car, I'd be really interested!
And of course, if you spot a flaw in my newly minted plan, I'd be very grateful for a heads up!

By the way: I did look into leasing options but the charges for excess mileage for over 10,000 miles per year put me off. And dare I say that Within My Means' mileage limit of under 7,000 per year doesn't seem very generous?

YorkshireBoy

foxyruby wrote: »

3. Then I'm going to ask Barclaycard to do a balance transfer for the whole amount of £6475 to my Halifax credit card. They are currently offering me 0% on balance transfers for 12 months with a 2.9% transaction fee so this seems like a good deal.

4. This will make my Halifax credit card in credit to the tune of £6475. I understand that after a month any unused credit balances on my credit card will be refunded to me by chequeborrowing.

You need to re-think this part of your plan.

Your Halifax card T&Cs prohibit the creation of such positive balances...

11.7 You must not make payments or transfer funds from another credit or store card to your account that would leave a credit balance on your account. We may return any funds that exceed the balance owing on your account to the account from which the money has been sent.

http://www.halifax.co.uk/creditcards/balance-transfer-purchase/all-in-one-card/terms/

You may find you've lost your 2.9% fee...and still have to find a 2% fee for the dealer!