Leasing help

Cornucopia

musafir05 wrote: »

Cheapest deal at the moment can be found on nationwidevehiclecontracts for a Vauxhall Corsa 3 Door *New Model* 1.4 SRi. Click here

Ooh... I like surprises.

Seriously, though, with the VAT that's more than the Micra already quoted. I would go with the Micra over the Corsa, anyway.

And I just found a VW Up! for £82.80 (3+23) inc VAT.

To answer some of the OP's questions:-

1. Many manufacturers are now including Leases as an option in their main dealer network. Citroen and Kia (my 2 nearest dealers) both do this. Just have to ask because it should be the cheapest option. Even if there is a better deal from a third party, you can often have delivery from your local main dealer.

2. It's not awful - not sure what you mean by that.

3. You can sometimes tailor the mileage, so it's worth having a rough idea of what you will be doing. Popular options are 6k pa, 10k pa, 12k pa, 15k pa.

4. In theory, Leases should always be cheaper than the equivalent as a PCP. However, it's worth checking to see if you might be missing out on a better deal, with more flexibility at the end.

Also be aware that most Lease quotes exclude VAT. You'll need to add 20% to those prices.

The big advantage of Leases and PCPs is that the depreciation is built in to the price from the outset. With other types of car purchase, you have little idea, and no guarantee of what the car will be worth when you come to sell it.

musafir05

Cornucopia wrote: »

Ooh... I like surprises.

Seriously, though, with the VAT that's more than the Micra already quoted. I would go with the Micra over the Corsa, anyway.

Whats the quoted price for the Micra

musafir05

Try gatewaytolease
Citroen C1
£ 82.73 per month
cheaper than sky premium package deal

Cornucopia

musafir05 wrote: »

Whats the quoted price for the Micra

£119.94 against £112 for the Micra.

TBH, I think that the OP probably ought to be thinking of going to a Main Dealer for their first ever lease. The wider Leasing market is a bit of a bear-pit.

jlfrs

HI Alice 898,


If it's about putting down no cash and driving something on a monthly basis then leasing for personal users isn't really that cost-effective. Most of the leases out there I've seen are offered by companies such as Leaseplan. I think some of these are doing leases for personal users but they're expensive, a bit like renting a car - also not very cheap either. By all means check them out - buy a copy of What Car and look at the classifieds at the back.


The smart money is to go for a PCP (Personal Contract Plan) or PCH (Personal Contract Hire). A PCP gives you the ability to choose a new or second hand car on a fixed monthly rate for upto 4 years with a fixed mileage and the option to buy it at the end at a fixed price. A PCH is more like a lease, there is no option to buy at the end but all your expenses (road tax, MOT and servicing) is included. It costs more because of this. As you are a low mileage driver, I'd look at PCP.


I have done PCP's in the past without any deposit at all, though you've actually a vehicle you could use for a deposit. You might be surprised to hear that the dealers will often ramp up the amount of money they'd give you on your own vehicle on the deposit or down-payment to avoid reducing the cost of the vehicle they want to sell or lease you as it doesn't affect their commission. They won't sell it, it'll go straight to the scrap yard or onto auction, so they care not, as long as it's MOT'd and doesn't have any dashboard lights on to show a malfunction.


The next tip is to get the price of the car you want down in price before you get the PCP on it. A PCP is just a form of loan.The cheaper the car, the cheaper your PCP, or loan is. Again, look at the back of What Car and you'll find these brokers that drive big discounts from authorized dealers for brand new cars. Orangewheels is a good one for example. They will introduce you to a dealer for the car you're interested in who will then tell you how much discount they'll give it. They'll ask how many miles you drive, what deposit (in your case, your car which they'll factor in a price for) and how long (usually upto 4 years). You can then choose if you want maintenance or not (I'd say no if you're not doing many miles).


Does this make sense?


Good luck,
Jon

albionrovers

musafir05 wrote: »

Try gatewaytolease
Citroen C1
£ 82.73 per month
cheaper than sky premium package deal

18 Month Contract
6+17 Payment Profile
Initial Payment = £413.64 (Excl. VAT)
Administration fee = £150.00(Excl. VAT)


6 payments up front for a 17-month lease? You're just clicking on any old links now. Lol.

Cornucopia

jlfrs wrote: »

If it's about putting down no cash and driving something on a monthly basis then leasing for personal users isn't really that cost-effective. Most of the leases out there I've seen are offered by companies such as Leaseplan. I think some of these are doing leases for personal users but they're expensive, a bit like renting a car - also not very cheap either. By all means check them out - buy a copy of What Car and look at the classifieds at the back.

Unless you are being particularly pedantic, I'm not sure any of that is true.

A private buyer who is "Leasing" will typically be taking out a Personal Contract Hire...

Leases will usually be cheaper like-for-like than a PCP because:-

(a) The leasing market is very competitive.

(b) Leases aim for a £0 equity figure at the end of the term, whereas it is claimed that PCPs aim for some remaining equity (which you pay for in the installments).


As an example, Citroen C1 1.0 Feel :-

Lease: £324 deposit, then 35 x £108 = £4212
PCP: £2186 deposit, then 35 x £99 = £5651

albionrovers

jlfrs wrote: »

HI Alice 898,


If it's about putting down no cash and driving something on a monthly basis then leasing for personal users isn't really that cost-effective. Most of the leases out there I've seen are offered by companies such as Leaseplan. I think some of these are doing leases for personal users but they're expensive, a bit like renting a car - also not very cheap either. By all means check them out - buy a copy of What Car and look at the classifieds at the back.


Eh? Leasing is as cheap as chips.
Where did you get all this from?