Leasing a small diesel

OddballJamie

BTW have you got insurance quotes on it as it is the FR and you're under 25?

Ultrasonic

newby1000 wrote: »

plus 67 mpg

Realistically expect to achieve more like 50 mpg (see here). If you're really looking for fuel economy go for the 1.2 TDI (normal or possibly Greenline).

Ultrasonic

Wh05apk wrote: »

Sounds reasonable but you will still be paying £4800 over 2 years (equivalent of about £200 pm) if you are looking to buy a house, could you not just buy am old Focus or something for about £2,000?

Don't forget the impact the £150pm will have on your borrowing ability, lenders will annualise the payments so about £1800, then potentially x5, so it could reduce your borrowing ability by about £9,000.

I had similar thoughts reading the first post. If buying a house is a priority then spend less on a car, and don't use credit/commit to a long term lease.

newby1000

Yes fair points. I do a fair few long drives so the 1.2 might be a bit weedy tbh. Going from a RR to a Ibiza will be a big adjustment I know!

Insurance is going to be around £470 for the model specified.

Ultrasonic

newby1000 wrote: »

I suppose, but it won't be as good on fuel and it will only take one thing such as the clutch going to stack up a £500.00 bill
Plus I will have another £2,000 in my kitty and the ability to make larger savings every month. What do you think?

A possible £500 bill for a clutch wouldn't outweigh the savings of £2800 over the lease payments, which are gauranteed. Of course there will be other running costs for a used car too, but also remember that at the end of two years you will still have a car that won't be worth much less than you paid for it. At the end of your two year lease you have nothing to show for the £4800 you paid out.

If you really want to have a brand new car then buy one, but doing so by convincing yourself it is a way of saving money really doesn't stack up I'm afraid.

Ultrasonic

newby1000 wrote: »

Yes fair points. I do a fair few long drives so the 1.2 might be a bit weedy tbh.

Have you driven one? It certainly won't be sporty, but would be perfectly capable of long drives. Plenty of people do very high mileages in Polos with the same engine.

newby1000

You may be right! Exactly why I am asking the question.
Its not just repairs though it is. I have to factor in servicing, any repairs necessary, MOTs, tax at between £120-210 a year, tyres, breakdown cover, whether the thing is going to get me to work every day etc etc.

I need a reliable car for work but can't make up my mind. Has anyone added up their motoring expenses of a year for me to compare to?
I also make it £3,600 over two years, is the deposit some kind of forward lease payment ?

Thanks for your help.

OddballJamie

Total cost is £4644 providing you don't go over 30k miles and return it in excellent condition.

Ultrasonic

newby1000 wrote: »

You may be right! Exactly why I am asking the question.
Its not just repairs though it is. I have to factor in servicing, any repairs necessary, MOTs, tax at between £120-210 a year, tyres, breakdown cover, whether the thing is going to get me to work every day etc etc.

Servicing = £100 to £200 per year at an independent garage.
Tyres, about £200 for four new ones every 20k to 30k miles perhaps?
Comprehensive breakdown cover can be had for £39 a year from AutoAid.
MOT and any faults found is obviously more of an unknown. As is the reliability issue that you sensibly raise.

I also make it £3,600 over two years, is the deposit some kind of forward lease payment ?

The 'initial payment' is just that, not some sort of deposit that you get back. Is the deal the initial payment plus 23 monthly payments? If so I make the total cost = £960 + 23*£148.79 + £180 = £4,562.17. You also say you do 'bang on' 10k miles a year. As you say you do 'bang on' 10k miles a year check how much extra you get charged per mile over 10k, it probably won't be cheap.

Ultrasonic

OddballJamie wrote: »

Total cost is £4644 providing you don't go over 30k miles and return it in excellent condition.

20k miles I think, since it's a two year lease.