We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Ex company / lease cars
Options
PierremontQuaker03
Posts: 319 Forumite
in Motoring
Anyone know of any dealers in the north east or websites to look at. The last two cars I have had were 3 year old company cars and both have been great cars.
0
Comments
-
No doubt all sold as one owner cars. We bought a Peugeot 308 estate from a Peugeot dealer and were assured it only had one owner, turned out to be a lease car and yes only one owner but dozens of different drivers.0
-
"Lease car" doesn't necessarily mean dozens of different drivers.No doubt all sold as one owner cars. We bought a Peugeot 308 estate from a Peugeot dealer and were assured it only had one owner, turned out to be a lease car and yes only one owner but dozens of different drivers.
It might be one private individual. It might be a company car allocated to just one user.
How the original user financed the car makes no difference to the use it's going to have had - and virtually no companies buy their cars. You can take a bet that almost anything ~3yo or younger will have been financed somehow, lease or PCP. If it's ~1yo, it's almost certainly ex-rental.0 -
"Lease car" doesn't necessarily mean dozens of different drivers.
It might be one private individual. It might be a company car allocated to just one user.
How the original user financed the car makes no difference to the use it's going to have had - and virtually no companies buy their cars. You can take a bet that almost anything ~3yo or younger will have been financed somehow, lease or PCP. If it's ~1yo, it's almost certainly ex-rental.
Yes I realise that but in my case the car was used as the company run around which obviously the dealer had no knowledge of. I can only speak about my own experience as anything other would be guesswork.0 -
From what I've heard most of these 3 year old ex-lease/PCP cars go through closed auctions only available to dealers and traders these days.
(I've also heard that there are thousands of 3 year old ex-lease/PCP being stored at airfields etc (Bruntingthorpe)... because they want to keep the secondhand prices artificially high and don't want to flood the market.)0 -
From what I've heard most of these 3 year old ex-lease/PCP cars go through closed auctions only available to dealers and traders these days.
(I've also heard that there are thousands of 3 year old ex-lease/PCP being stored at airfields etc (Bruntingthorpe)... because they want to keep the secondhand prices artificially high and don't want to flood the market.)
https://www.google.com/maps/place/Bruntingthorpe+Airfield+%26+Proving+Ground/@52.4965541,-1.1263305,845m/data=!3m1!1e3!4m5!3m4!1s0x0:0x66fbbe29423c7eb2!8m2!3d52.4908292!4d-1.1311932
https://www.bruntingthorpe.com/bias/our-solutions/storage"For every complicated problem, there is always a simple, wrong answer"0 -
They're certainly stored short-term, for logistics reasons - but just pause and think about the costs - both in terms of the amount of money's-worth of stock and depreciation - of storing sufficient cars for long enough to actually distort supply and demand in the used car market nationally...(I've also heard that there are thousands of 3 year old ex-lease/PCP being stored at airfields etc (Bruntingthorpe)... because they want to keep the secondhand prices artificially high and don't want to flood the market.)0 -
They're certainly stored short-term, for logistics reasons - but just pause and think about the costs - both in terms of the amount of money's-worth of stock and depreciation - of storing sufficient cars for long enough to actually distort supply and demand in the used car market nationally...
The title of the Bruntingthorpe website is "A convenient location for long-term vehicle storage""For every complicated problem, there is always a simple, wrong answer"0 -
From what I've heard most of these 3 year old ex-lease/PCP cars go through closed auctions only available to dealers and traders these days.
(I've also heard that there are thousands of 3 year old ex-lease/PCP being stored at airfields etc (Bruntingthorpe)... because they want to keep the secondhand prices artificially high and don't want to flood the market.)
Pretty much correct on the first paragraph, though there are some open auctions (but watch for fees for single purchases)
Not so RE: storage. Its a bit of an internet myth. Its in the finance company's interest to get the cars processed as quickly as possible and payment back in. Not doing so would incur significant storage charges and bank interest charges, not to mention if done en masse would have a massive impact on cashflow.
They will perhaps hold cars for a shot period - for example to group them for a manufacturer auction or closed dealer group auction, but other than that they'll want to move them on ASAP.0 -
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards