First time leasing - costs

k6chris

I am considering taking out a car lease for the first time and want to understand what all the costs are. I understand the 1+23 format and that there is an arranegment fee. Do I need to factor in GAP insurance for the 2 years? Is there a prudent amount of money to factor in for the final condition check (car park dents etc)? Does it require different insurance because I am leasing not owning? I presume tax is not included? All thoughts welcome!

AdrianC

k6chris wrote: »

Do I need to factor in GAP insurance for the 2 years?

You don't NEED to.
But if you write it off in that time, you may wish you had.

Is there a prudent amount of money to factor in for the final condition check (car park dents etc)?

Depends entirely on what state your cars normally get into in two years.

Does it require different insurance because I am leasing not owning?

No, financing cars is utterly mainstream.

I presume tax is not included?

You mean VED? It probably is, but ask.

neilmcl

Just to confirm, are you definitely looking at leasing, ie, contract hire, rather than PCP finance? It's not unusual for posters to say they're leasing when in reality they have a PCP/HP agreement.

If you're considering GAP insurance then look for GAP products specific to contract hire and in particular those that have the option to repay you initial deposit.

wgl2014

GAP insurance is so cheap I don't see why you wouldn't take it out.

There's a link on this page for discounts, our policy was around £100 for 3 years cover on a £20k car.

k6chris

neilmcl wrote: »

Just to confirm, are you definitely looking at leasing, ie, contract hire, rather than PCP finance? It's not unusual for posters to say they're leasing when in reality they have a PCP/HP agreement.

.

Yes leasing:


https://www.leasehub.co.uk/skoda/octavia-hatchback/10-tsi-se-technology-5dr-special-offer


Only downside is the leadtime. I think....