Seat Ibiza

dilbertuk

Probably not in the right place - but can anyone cast their eye over this deal...<D'oh unable to put in links>...and let me know what the catch is?

The car is a Seat Ibiza 1.2 TSI FR 3 door and if you google "Evolution Leasing" it comes up on their front page.

It's £118 per month over 2 years for a new car that retails at £13,000+ which seems like too good to be true - so is it? Can someone please point out any flaws?

Many thanks.
S

NeverEnough

Possibly that you won't own it at the end of the 2 years unless you pay a massive balloon payment plus there are likely to be massive penalties for going over agreed mileage and any damage to the car, however trivial, when you hand it back instead of buying it at the high balloon payment at the end.........

Seat Ibizas have a poor value retention as well and the depreciation after two years will be huge..........

dilbertuk

NeverEnough wrote: »

Possibly that you won't own it at the end of the 2 years unless you pay a massive balloon payment plus there are likely to be massive penalties for going over agreed mileage and any damage to the car, however trivial, when you hand it back instead of buying it at the high balloon payment at the end.........

Seat Ibizas have a poor value retention as well and the depreciation after two years will be huge..........

Thanks Never Enough. If, as you say, the depreciation is huge then the lease payments won't even cover the expected loss in value - so the fact you don't own it (the option to purchase isn't offered - you have to give the car back) makes it even more attractive.

There are mileage penalties of around 5p per mile. So again, not massive.

I'm hoping someone tells me the downside - because I might just end up clicking 'buy!"

NeverEnough

A lot of people find these deals very attractive until the hand back time comes- there always seems to be some argument about damage etc that they seek to get you to pay. I suppose the downside is that after 2 years of paying, you own nothing.........but as its under £3000 you may be happy with that. The other downside is that its a Seat Ibiza. .

DaniP

Hi,

Just checked out their website, all of the deals on their front page are for 'business users' that may be why they are so cheap. They can only be bought for business use.

DaniP

Its also only for 8,000 miles per year so you may find when you change it to 10 or 15000, the quote may shoot up!!