Parkers depreciation calculator

benjus

For the record I was looking at this deal - http://www.centralcontracts.com/lease_skoda_yeti-outdoor_estate_2_0_tdi_cr_se_l_5dr-70135/ Skoda Yeti Outdoor for about £4300 over 2 years. I think this could quite easily be comparable to depreciation + loan interest on a 3 year old Qashqai over the same period.

benjus

forgotmyname wrote: »

Cost the same as a lease but at the end you will own something that may give years worth of service for minimal cost, where someone with a lease will probably repeat the process.

That's a valid point - based on the sort of numbers I've been talking about, after about 5 years of leasing you've spent the same as buying the 3 year old car outright. So if you bought a 3yo car you've now got an 8yo car (which may or may not go on to give many more years of service), whereas if you leased you now have nothing. OTOH, you always had a car that was under 2 years old so no MOTs, no major services, manufacturer's warranty cover. Swings and roundabouts I suppose.

Stoke

my car depreciates a pound a month.

jimjames

Stoke wrote: »

my car depreciates a pound a month.

Mine appreciated £75 per month before I sold it

Minrich

motorguy wrote: »

Ah right, so because your sister got severely done over, your subjective view is that all lease deals are crap?

Next time, get her to take a grown up with her.

It was just one extreme example , I also didn't say "all lease deals are crap" , perhaps you should read what i wrote . The amount she paid was irrelevant to her as she wasn't paying the bill anyway her employer was , she was earning around £300k pa then too . Show me where i am wrong ?

I didn't want your opinion of my opinion anyway .

jase1

Depreciation is not something I fear. On the contrary, in fact.

If you're leasing from new, you don't care about depreciation. If the car is used, you want something that's a bit catastrophic in the first three years -- better that than losing the value further down the line when you own it

benjus

Minrich wrote: »

It was just one extreme example , I also didn't say "all lease deals are crap" , perhaps you should read what i wrote . The amount she paid was irrelevant to her as she wasn't paying the bill anyway her employer was , she was earning around £300k pa then too . Show me where i am wrong ?

I didn't want your opinion of my opinion anyway .

You said that leasing is never cheaper than buying.

If you want to change your car every few years, leasing may be cheaper (or comparable). In the example I gave above, buying a 3 year old car and selling it after a few years worked out more or less the same as leasing a brand new car for the same period. The obvious benefit of leasing in that comparison is that the car is brand new, not 3 years old.

If you look at the same situation over many years, buying would certainly be cheaper than leasing. But then with buying you'd have an 8-10 year old car while with leasing you'd have a series of new cars.

Minrich

benjus wrote: »

You said that leasing is never cheaper than buying.

If you want to change your car every few years, leasing may be cheaper (or comparable). In the example I gave above, buying a 3 year old car and selling it after a few years worked out more or less the same as leasing a brand new car for the same period. The obvious benefit of leasing in that comparison is that the car is brand new, not 3 years old.

If you look at the same situation over many years, buying would certainly be cheaper than leasing. But then with buying you'd have an 8-10 year old car while with leasing you'd have a series of new cars.

Leasing car X will never be cheaper than Buying Car X ..... Obviously NEW as people don't lease secondhand ones ! Doing it over any period 2/3/4 years i have never seen an example that gets anywhere near the benefit of buying the car outright (comparing cost of lease compared to depreciation and resale of the new car using a Private sale as the price not Trade) As i said earlier , find me an example that is cheaper and i will submit to me being wrong . I have been in the market for a "Cheap" Lease deal compared to buying so we can get a new car every 2 or 3 years like a Mini Polo Golf Fiesta ...

benjus

Minrich wrote: »

Leasing car X will never be cheaper than Buying Car X ..... Obviously NEW as people don't lease secondhand ones ! Doing it over any period 2/3/4 years i have never seen an example that gets anywhere near the benefit of buying the car outright (comparing cost of lease compared to depreciation and resale of the new car using a Private sale as the price not Trade) As i said earlier , find me an example that is cheaper and i will submit to me being wrong . I have been in the market for a "Cheap" Lease deal compared to buying so we can get a new car every 2 or 3 years like a Mini Polo Golf Fiesta ...

Ok, let's look at the Skoda Yeti example I gave earlier:

Lease deal: 2 years for £4320 (link)
Buy new: £19591 (link)
Estimated value after 2 years: £12025 (link)

So over 2 years, buying new then selling costs £7566 (plus interest if bought on finance), while leasing costs £4320.

As noted above, you can't just choose any car to find a good lease deal, you have to be a bit flexible.

Minrich

benjus wrote: »

Ok, let's look at the Skoda Yeti example I gave earlier:

Lease deal: 2 years for £4320 (link)
Buy new: £19591 (link)
Estimated value after 2 years: £12025 (link)

So over 2 years, buying new then selling costs £7566 (plus interest if bought on finance), while leasing costs £4320.

As noted above, you can't just choose any car to find a good lease deal, you have to be a bit flexible.

I looked at that earlier .... Does seem a good deal , but you have to have it to drive for 2 years ...... So there are deals about , Thanks :beer: