Leasing car for the first time, Is our calculation correct?

crvs

Hi,

We decided to lease a car for the first time.

We believe we got a reasonable good quote for brand new Seat Leon FR 2.0 184 TDI diesel model 5 door with technology pack for 3 + 23 months for 5000 mpa for £224.00( Couldn't find any better deal in the market )

The above deal comes with road tax for first two years and no maintenance.

based on my calculation:
23 * 224.00 = £5152.00
3 * 224.00 = £672.00
Admin Fee 120.00

Total cost: £5944

So total cost comes to around £6k for two years or £3K per year. Of-course there is additional cost of fuel and insurance per year.

If anyone has leased before could you guide us if there is any other hidden cost that i am not aware of? Is it worth taking the maintenance option? I am wondering that this is not required as it is a new car and comes with mfg warranty.

We understand that it is equally important to maintain the car in good condition while returning back the car at the end of two year to avoid any cost for wear and tear.

Cheers

AdrianC

crvs wrote: »

So total cost comes to around £6k for two years or £3K per year.

For five thousand miles per year. 60p per mile. Plus fuel and insurance. Additional mileage will be charged on top.

If you're only going to be doing less than 5k per year, do you REALLY need a brand spankin' car to do it?

Oh, and for that mileage, you'd be stark staring hatstand to buy a modern diesel.

oldhand

Agree with adrianC,you are not doing nearly enough miles to justify a diesel engine.I just looked online and one survey which was for an audi petrol V diesel worked out to recoup the extra cost of diesel fuel and extra cost of diesel engine initially you need to cover 50000 before you start to recoup your outlay.

AdrianC

I wasn't even thinking in terms of finances, purely the risk of problems with a very low-mileage DPF.

Iceweasel

Are you confusing maintenance with servicing?

Or are you meaning repairs?

All cars new or old need maintenance - but only doing 5K a year it might only need servicing once in your use.

I must agree with AdrianC that a diesel doing only 5k miles a year is nuts. Diesels are NOT meant for that kind of use.

A diesel needs long runs to avoid DPF problems.

crvs

AdrianC wrote: »

For five thousand miles per year. 60p per mile. Plus fuel and insurance. Additional mileage will be charged on top.

If you're only going to be doing less than 5k per year, do you REALLY need a brand spankin' car to do it?

Oh, and for that mileage, you'd be stark staring hatstand to buy a modern diesel.

Thanks for the reply. Your points are very valid.

Two reasons for our choice:

The leasing agency could only offer a good price on a diesel model as they get more discounts from the manufacturer on diesel cars as compared to petrol.

Petrol would cost me £240 per month for 3 year for leasing( i prefer 2 year over 3 year as this is the first time i am leasing).

We've been using old banger's for quite some time now and mostly ended up with huge MOT costs and used uneconomical mpg's. So we thought we go for a brand new sports car for the same equivalent cost.

daveyjp

Buy what suits your driving, not what gets the most commission for a salesman. A diesel and 5,000 a year is a recipe for disaster and why do you need so much power for 100 miles a week?

A VAG 1.2tsi or 1.4 tsi will do the job.

crvs

oldhand wrote: »

Agree with adrianC,you are not doing nearly enough miles to justify a diesel engine.I just looked online and one survey which was for an audi petrol V diesel worked out to recoup the extra cost of diesel fuel and extra cost of diesel engine initially you need to cover 50000 before you start to recoup your outlay.

Agree.... with your point. Getting confused. I think i must ask the leasing agency to give me the same deal on the petrol one to avoid DPF problems.

JustinR1979

1.4 tsi keeps winning engine of the year in it's class I believe, pokey economical little thing.
£6k for 2 years little use?

AdrianC

crvs wrote: »

We've been using old banger's for quite some time now and mostly ended up with huge MOT costs and used uneconomical mpg's. So we thought we go for a brand new sports car for the same equivalent cost.

At 5,000 miles per year, the difference between 30mpg and 45mpg is not much over one month's lease cost... A little bit of intelligent purchasing and a modicum of maintenance will mean that you will NEVER see a £2,000+ MOT bill.

crvs

Agree with you guys. we need to re-think. Many thanks for your inputs. Its indeed helpful. Will look for smaller engine petrol cars.