Buying a used car to replace leased one - when to start looking?

poshphil

I have currently have a car on a lease that's due to end at the start of February. We've decided to buy something a year or two old rather than going brand new or leasing again (my lease car isn't particularly suitable for our needs over the next few years so buying that isn't an option). I'm not really sure when would be best to start looking for the replacement, as although I don't particularly want to be paying for both cars at the same time, I also don't want to leave it too late and end up rushing into something that's not quite right. I'm also mindful of Christmas taking out a chunk of time and also any complications due to any further Covid restrictions. 

I don't think I'm looking for anything particularly unusual although the particular engine I'm keen on is less popular (Seat Leon Estate DSG with the 2 litre 190ps petrol engine) so there's not masses of them available right now, but there's also 4.5 months until I need a replacement in so it feels like I might be a bit too eager looking now?

neilmcl

Is it really a lease you have or a PCP agreement?

poshphil

neilmcl said:

Is it really a lease you have or a PCP agreement?

It's definitely a lease. Possibly confused things a bit by mentioning buying at the end of the lease as I know that's not always possible dependent on the company.

AdrianC

There's 52 2019 or newer, plus another dozen 2018, to choose from currently on Autotrader. Sure, not all of those are 190ps, some are 300s, but it's not that narrow a field to choose from...

https://www.autotrader.co.uk/car-search?make=SEAT&model=LEON&year-from=2019&transmission=Automatic&fuel-type=Petrol&body-type=Estate&minimum-badge-engine-size=2.0

facade

If you have off-road parking, start looking now locally, if something good comes in nearer Christmas, buy it, drive it home on the "7 days free insurance" they usually give- or have it delivered, if it is local the salesman can drop it off and you run him back then SORN it until you need it.

The only problem (apart from paying for both for a while) is if you are like me and are convinced that there is something wrong with all second hand cars then you won't find out until it is too late to return it.

Nobbie1967

As Adrian says, it’s not a particularly rare car you are looking for, so just wait until two weeks before you need it and get stuck into autotrader. The only possible fly in the ointment could be if we fail to agree a trade deal with the EU and they stick 10% tariffs on new cars. This is bound to filter through to ‘nearly new’ used car prices.

AdrianC

Nobbie1967 said:

The only possible fly in the ointment could be if we fail to agree a trade deal with the EU and they stick 10% tariffs on new cars.

..."if"...?

MinuteNoodles

Nobbie1967 said:

 The only possible fly in the ointment could be if we fail to agree a trade deal with the EU and they stick 10% tariffs on new cars. This is bound to filter through to ‘nearly new’ used car prices.

Someone else who needs educating on import duty....

First of all there is no single universal WTO duty rate all nations adhere to. The WTO doesn't just say "this widget has to have 10% duty applied" and everyone has to apply that. Each WTO member submits its own tables to the WTO with rates it has chosen and its only obligation is to apply those rates to all nations it doesn't have trade deals with. 

When the transition period comes to an end the UK is free to set it's own WTO rates for goods imported from nations it has no trade agreement with. 10% is the WTO rate the EU sets for cars imported from nations it has no trade deal with. Therefore stating it'll be 10% has no basis or foundation as the UK will set its own. The UK government could decide to set everything to 0% to minimise the impact of a no deal Brexit in which case many things may even become cheaper.

Penelopa.Pitstop

I suggest setting and saving search on Autotrader for particular car model and watch the market. This way, you will know what's the price for certain age and spec from private and trade sellers. You will know how much to pay, when ready to buy and there's a chance you won't overpay. January and February are usually dead season, so you might be able to grab a bargain.

AdrianC

MinuteNoodles said:

Nobbie1967 said:

 The only possible fly in the ointment could be if we fail to agree a trade deal with the EU and they stick 10% tariffs on new cars. This is bound to filter through to ‘nearly new’ used car prices.

Someone else who needs educating on import duty....

First of all there is no single universal WTO duty rate all nations adhere to. The WTO doesn't just say "this widget has to have 10% duty applied" and everyone has to apply that. Each WTO member submits its own tables to the WTO with rates it has chosen and its only obligation is to apply those rates to all nations it doesn't have trade deals with. 

When the transition period comes to an end the UK is free to set it's own WTO rates for goods imported from nations it has no trade agreement with. 10% is the WTO rate the EU sets for cars imported from nations it has no trade deal with. Therefore stating it'll be 10% has no basis or foundation as the UK will set its own. The UK government could decide to set everything to 0% to minimise the impact of a no deal Brexit in which case many things may even become cheaper.

Indeed.

And if the UK does set import duty to 0% on everything, then there is zero incentive for any other country to agree a trade deal with the UK. And, of course, that will harm UK exports, because they will still be dutiable at the default rate for the importing market... Which, for the EU, is 10%.

It turns out that they don't need us more than we need them. Who knew?

Nobbie1967

MinuteNoodles said:

Nobbie1967 said:

 The only possible fly in the ointment could be if we fail to agree a trade deal with the EU and they stick 10% tariffs on new cars. This is bound to filter through to ‘nearly new’ used car prices.

Someone else who needs educating on import duty....

First of all there is no single universal WTO duty rate all nations adhere to. The WTO doesn't just say "this widget has to have 10% duty applied" and everyone has to apply that. Each WTO member submits its own tables to the WTO with rates it has chosen and its only obligation is to apply those rates to all nations it doesn't have trade deals with. 

When the transition period comes to an end the UK is free to set it's own WTO rates for goods imported from nations it has no trade agreement with. 10% is the WTO rate the EU sets for cars imported from nations it has no trade deal with. Therefore stating it'll be 10% has no basis or foundation as the UK will set its own. The UK government could decide to set everything to 0% to minimise the impact of a no deal Brexit in which case many things may even become cheaper.

Top tip for you MinuteNoodles, if you are going to accuse someone of needing educating on import tariffs, best to make sure you are fully informed yourself first or you’ll look like an idiot.
The U.K. has already announced that MFN tariffs on imported cars will be 10% in the absence of a trade deal.
https://autovistagroup.com/news-and-insights/cars-eu-could-see-10-uk-tariff-unless-trade-deal-achieved