Car leasing for personal use

Ling_Valentine

GH wrote: »

If you're going to do it www.contracthireandleasing.com is an invaluable site.

Yes. Good site, i advertise there. there are others, too. Trouble is often companies do not advertise with all costs laid out, often charge hidden fees, the site prevents VAT being included (terrible IMHO) and large initial payments can be hidden. Also there is nothing to prevent "ghost" cars being advertised to sucker people into websites. I try to rely on my 650 customer letters published with full names and addresses, but often false low prices advertised on that site mean advertising there is an uphill struggle. But - good site.

Ling_Valentine

mummytofour wrote: »

I currently do this but am sick and tired of HUGE repair bills it was £400 to get mine passed the MOT! But I am in a tricky situation as I need a 7 seater and they are a lot more money and harder to get than 5 seaters.

There are lots of cheap 7-seaters, mummy-2-4. The Zafira, and Citroen Grand Picasso jump to mind. Zafiras start around £210/mth inc VAT. You need 8 weeks to wait for a factory order Zafira and some GP's are available immediately.

The other factor to note is the safety aspect of carrying the kids (and yourself) in an older design versus a latest model. I show all euroNCAP ratings where available.

DKLS

anewman wrote: »

I would personally always buy a car under £1k. As people are snobbish about cars, there's always good deals around that fetch you a nice reliable car with all mod cons, electric heated mirrors, windows, central locking, air con, heated seats for under £1k - relatively easily if you spend lots of time looking and buy what you want as soon as you see it.

Why people buy a car for £12k that loses around £3k in value as soon as they own it, and struggle to pay loans and interest etc etc I'll never understand.

Great if you could find a good one for 1K I have a friend like you who relishes in telling me his latest car cost £200 and passed its mot for the price of a lightbulb, but I wouldnt get in it and for every good one there are plenty of lemons that you cant rely on and potentially cost a bomb, and personally I like modern engines, brakes and suspension, there is a lot of monkey metal out there, that I wouldnt trust my loved ones in.

I just need to find a car leasing contract that changes cars every 4 months

anewman

DKLS wrote: »

Great if you could find a good one for 1K I have a friend like you who relishes in telling me his latest car cost £200 and passed its mot for the price of a lightbulb, but I wouldnt get in it and for every good one there are plenty of lemons that you cant rely on and potentially cost a bomb, and personally I like modern engines, brakes and suspension, there is a lot of monkey metal out there, that I wouldnt trust my loved ones in.

You wouldn't get in it?! Just shows why this end of the market is so good and cheap! Yes there's some bad cars out there but if you brush up and learn what you're looking at and learn common problems with a specific car to look out for, you can't go far wrong. Service history and an obviously caring owner helps too.

Suspension hasn't really changed that much over the years that I'm aware, only thing is old suspension can be worn and won't actually fail an MOT until it actually starts leaking gas/oil. I would *love* to have an old citroen with hydraulic suspension, if for nothing other than to thwart wheel clampers I guess the main changes are in the struts/braces etc etc to make cars handle better.

Some new cars have the same engines older cars do with some tweaks. Only example I can think of is the Fabia 1.4mpi before the most recent (cake) one, had the same engine as my 1994 car with a few tweaks. The engine was well used also in earlier cars in the mid 80's in various forms with carburettors, and later with various fuel injection systems.

The brakes on my car use twin circuits and if one fails the car can still brake on one circuit. Not sure about how good other old cars are in this respect.

mummytofour wrote: »

I currently do this but am sick and tired of HUGE repair bills it was £400 to get mine passed the MOT! But I am in a tricky situation as I need a 7 seater and they are a lot more money and harder to get than 5 seaters.

Any car can have big repair bills, and it comes out of your wallet if there's no warranty to cover it unfortunately. (But I think with a leased car they'd sort problems out as part of the agreement).

I'm not sure if Vauxhall Agila's, Suzuki Wagon R+'s or Toyota Yaris Verso's are 7 seaters but cars like this have big depreciation so come up quite cheaply compared with other cars and buying new.

DKLS

anewman wrote: »

You wouldn't get in it?! Just shows why this end of the market is so good and cheap! Yes there's some bad cars out there but if you brush up and learn what you're looking at and learn common problems with a specific car to look out for, you can't go far wrong. Service history and an obviously caring owner helps too.

Damn right I will not put my safety at risk getting into some 1k monkey metal. That should have been scrapped years ago.

I dont have the time nor the inclination to brush up and learn about specific models and their common problems. And as for doing maintenance myself, Thats my God invented Grease Monkey's

PJI_2

Car leasing. Personal Car leasing VS Cash or Finance:T

[FONT=&quot]In my experience having worked in the motor trade (on the inside;)) for many years……

Allot of people choose not to lease a car as "they will always be making a payment" or " you never own it. A point that I would like to make is that whatever car you own, who ever funds it (including your own money), the car depreciates monthly. No-one is immune from this depreciation so everyone makes a payment. [/FONT][FONT=&quot][/FONT]
[FONT=&quot]
It is also assumed that you pay for ever little scratch and dent when you come to hand the car back at the end and that can deter people from leasing. The truth is, if you own a car and it gets scratched or dented, when you sell it to the dealer at trade in, they will deduct the cost of repair from the px price - so again, this is a cost that is unavoidable.[/FONT]:(

[FONT=&quot]
Driving and using a car with your own cash or finance is a gamble. A bit like a roulette wheel - you know you're going to lose, you just don't know how much :rolleyes:. Leasing changes this completely.:rolleyes:

Leasing is a very simple concept and there are great deals to be had. To combat the depreciation and risk I would recommend you follow the following rules. 1) Pay the minimum in as an initial payment 2) Pay the minimum per month 3) Use someone else’s money 4) Let someone else take the risk.

You can also find deals where a manufacturers bonus can beat the depreciation curve that you pay in lease costs to a lease company. This could result in a disproportionately low payment compared to the capital cost. I.e, a £30000 car costing £300 per month would be a great deal as would a £20000 car fro £200 per month. In fact - that is a good rule of thumb. If the rental or payment is circa 10% of the capital cost then you have a great deal - whatever the car. The opposite would be a high depreciating car £15000 capital cost with a £300 per month rental - expensive (but not necessarily a bad idea if it is the car you really want).

And that is the last point I would like to make. If your love is a car that has a higher depreciation than another - as such, you will pay a higher payment. Typical example would be an Alfa Romeo - great cars, high lease costs / high depreciation..... but so what ?? If it is the car you love its better to spend a higher amount and be happy than spending 3 years driving a great cheap deal on a car you loath.

Good sites to visit www.skyfleet.com - good for advice and also www.contracthireand leasing.com although be careful - not all the prices are genuine. [/FONT]

zappahey

albionrovers wrote: »

Plusses

Delivered to your door at the beginning
No depreciation

No depreciation? Really? What do you think that monthly payment covers?

Ling_Valentine

I think the point is, your costs are totally fixed if you get a personal contract hire car. That MUST be a good thing. It allows you to make an accurate judgment.

If only the £1k "bargains" or any other method allowed a proper fixed cost over (say) 2 or 3-years, you could make complete comparisons.

Crash the £1k car compared to a new Nissan Qashqai or whatever. I wonder about the injuries on those dummies in the cheap car.

If many people are so expert at buying these cheap cars, I wonder why (for example) anyone ever gets a new car? You should be in the motor trade, if you can buy so successfully. You think that the Post Office would buy used red vans to save itself £thousands if it really was the best route.

You should also consider the time, effort and tears in dealing with all these old cars.

atatters

I guess it depends on how you use your car, if you change your car every 2-3 years deperciation will be your biggest cost if so then leasing is for you. but if you are someone who likes to keep a car and run it into the ground then leasing is not for you as you like to spend thousands on constant repair bills, expensive MOT and expensive servicing then leasing is not for you.

Plusses

Delivered to your door free of charge hassle free.
No depreciation worrys.
No Costly MOT bills.
Very little/Maybe no servicing with 10K per year lease
Free Car Tax every year for full term of contract. (Via Post)
Car collected from your door at the end of the lease term.
You get more car for your money.

Minuses
You never own it, so what?


Everyone likes new things. It's called human nature.

I used a company called Lease Cars they had some great deals. here is their website www. leasecars.co.uk :rotfl:

Hintza

Another spammer. Two in one day for lease cars!!!