Car leasing?

ktcoil

Hello does anyone use the lease service, seen a few about where you pay about £150/£200 per month to use the car?

Silver-Surfer_2

ktcoil wrote: »

Hello does anyone use the lease service, seen a few about where you pay about £150/£200 per month to use the car?

I've seen one where you pay £106 a month to lease a car.

Mobeer

In 2012 about 120,000 cars were leased in the UK, though not all in your price range. That is a rough calculation from a few years ago, newer data might be available.

w211

https://www.lingscars.com have plenty of cars in your budget.

I'm about to take delivery of a second car from them.

loskie

I have just taken out a personal lease for the first time.
Astra Elite 1.4 Turbo(150bhp) £500 then £154 month for 15000m a year. Only a 12m lease seems cheaper than buying new but not used.
You must look after the car though, as if it were your own. There are penalties for excessive wear and tear.
All seems straight forward so far.

coffeehound

w211 wrote: »

https://www.lingscars.com have plenty of cars in your budget.

That website's worth a look even just for the entertainment value! Brilliant.

w211

loskie wrote: »

You must look after the car though, as if it were your own. There are penalties for excessive wear and tear.

You, or someone else may be able to buy the car off the leasing company, at the end of the term, instead of handing it back.

Someone bought mine, and it's just as well really, since it had 133,000 miles on the clocks (I had a 45,000 mile/year lease because of my job).

The finance company just sent a letter with a final settlement figure, with their bank details, and either you or the third party transfer the money in their bank account, which should clear instantly, and they'll send/e-mail a letter confirming acceptance, and they no longer have interest in the vehicle.

I probably saved a bit (you'll pick up plenty of surface scratches within that mileage...), and the buyer was keen to buy, and obviously can't really negotiate with the finance company, so you don't have to deal with any haggling.

Though obviously look after it, in case you can't find a buyer! Also ensure if they require a full main dealer service history, as part of the agreement.

ktcoil

Thanks guys does anyone know how car insurance works? If say I pay £1000 for my current old owned car and was to do this lease do u pay for or less the same but for the lease car? What if it was to be in a crash and write off? Will be there lease company get to get the money for the write off car? Very unsure about how this works lol