High Mileage Car Leasing

Clarkson001

Hi All,
First time posting....
Hope you are all well.

I am struggling to see any company’s that “specialise” in high mileage car leasing.

Personal customer
Travel 16k a year just to and from the office
I think to be safe I would be looking at 30 or 35k per year mileage.

Can anyone point me in the right direction?

Arklight

A car with that kind of mileage after a 3 or 4 year lease deal would have so little residual value it's hard to see a leasing company being interested, unless you were paying well over the odds.

You are better off buying your own vehicle.

mark55man

I think I agree - I do 20K a year regular, and I looked into this a few years ago and came to much the same conclusion as arklight

I ended up with a new Astra that was marked down 30% (£18K to £12K). You could do similar with nearly new if there wasn't a deal like that currently on the market. You should check what the lease charge is versus a loan (if that's possible) - you may be surprised.

I don't think the first 3 years of a cars life leasing really gets you much although I do know people who just mentally allocate the car allowance part of their salary to the lease company and get the best they can.

The_Rainmaker

Get a spreadsheet up and running and do the maths then you know what will be best for you. Also look at PCP but assume you are going to buy it at the end of the contract

Arklight

Leasing and PCP deals area way for people who can't afford to buy a new vehicle of their choice to rent one for a few years, paying off the depreciation. The less they use the car, the less the depreciation will be.

If the depreciation is basically the value of the car then you may as well just buy it, or look for something cheaper.

Clarkson001

Thanks everyone for there advice.

Leasing is the way I am going, that’s a personal position I have to do.

Does anyone recommend any companies to speak to directly?

Clarkson001

Anywhere we you can lease say a year or two old vehicles instead of brand new?

The_Rainmaker

With leasing you go for the deal not the make/model.

You want to look for unpopular cars not selling or models about to be facelifted or superceded.

There are plenty of sites out there where you can adjust the mileage to meet your needs.

Second hand cars are generally expensive because the finance costs are a lot higher.

Penelopa.Pitstop

Cars with smaller engines will have lower excess miles costs. You can find standard lease and then see what's the difference in cost if you increase mileage upfront or pay at the end for excess.

For example, Skoda Octavia 1.0 TSI, excess miles cost was 3.6p. My friend leased on standard 10K miles per annum and will pay excess miles fee at the end, as it was cheaper than paying upfront. Also, if your circumstances change, you're not stuck with high leasing cost and not using your pre-paid miles.

VWFS (Audi, Skoda, Seat, VW) is quite good for excess miles charges. Other funders, non manufacturer ones, can be quite expensive.

As above, you have to create spreadsheet and compare the costs.

Herzlos

Clarkson001 wrote: »

Leasing is the way I am going, that’s a personal position I have to do.

Why leasing? If it's a 3 year lease the car will be going back with 100k miles on it and be worth nothing - you'll be paying the same as a 3-year HP loan.


Even with a PCP, you can get it with any mileage and buy it at the end.



On that mileage, you're much better finding a 1-2 year old car with very low mileage and then put the miles on. You may find that if it's barely moved for a couple of years that after 2 years it'll only be on normal mileage.

AdrianC

All those company cars doing high mileages... Leased.

I'd be astonished at any lease company that can't cope with the concept of 30k/year.