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PCP isn't MSE

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  • motorguy
    motorguy Posts: 22,611 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    BOWFER said:
    Jenni_D said:
    So you're arguing only on my "no option to purchase" comment - perhaps I could have phrased it better as "no option to purchase in the contract", but it doesn't change the thrust of my previous comment one iota. 🙄
    AFAIK, you may be one of the many who genuinely think a lease car 'has' to be handed back and you've no say in the matter.
    If you object to being corrected, get it correct.


    I think Jenni's point is worth making.  You have no contractual right to buy the car at the end of the term, nor do they have to give you a price to buy it.

    That may well be a consideration for many.

    Frankly i dont think you can say "The lease companies will always sell you the car if you want".  At best, it could be said "you may have".

    Oh and Money Saving Experts comment is the same as Jenni's view.

    https://www.moneysavingexpert.com/car-finance/car-leasing/



  • Grumpy_chap
    Grumpy_chap Posts: 18,232 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Maybe personal leases are different, but when I have tried to buy my ex-lease company cars, the price quoted by the lease companies has been so silly high as to immediately shut off any interest - the most absurd was being offered a Fiesta at the end of lease at within £1k of the Broadspeed price for the same car brand new.  So, the option was there, but it would be crazy to take it.
  • neilmcl
    neilmcl Posts: 19,460 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    motorguy said:
    BOWFER said:
    Jenni_D said:
    So you're arguing only on my "no option to purchase" comment - perhaps I could have phrased it better as "no option to purchase in the contract", but it doesn't change the thrust of my previous comment one iota. 🙄
    AFAIK, you may be one of the many who genuinely think a lease car 'has' to be handed back and you've no say in the matter.
    If you object to being corrected, get it correct.


    I think Jenni's point is worth making.  You have no contractual right to buy the car at the end of the term, nor do they have to give you a price to buy it.

    That may well be a consideration for many.

    Frankly i dont think you can say "The lease companies will always sell you the car if you want".  At best, it could be said "you may have".

    Oh and Money Saving Experts comment is the same as Jenni's view.

    https://www.moneysavingexpert.com/car-finance/car-leasing/



    Totally agree and in fact it makes much more financial sense for lease hire companies to bulk sell their stock at auction as they typically do rather than deal with individual clients. I'm not saying it doesn't happen but it's usually the exception rather than the rule.
  • Jenni_D
    Jenni_D Posts: 5,431 Forumite
    1,000 Posts Fourth Anniversary Name Dropper Photogenic
    BOWFER said:
    Jenni_D said:
    So you're arguing only on my "no option to purchase" comment - perhaps I could have phrased it better as "no option to purchase in the contract", but it doesn't change the thrust of my previous comment one iota. 🙄
    AFAIK you may be one of the many who genuinely think a lease car 'has' to be handed back and you've no say in the matter.
    If you object to being corrected, get it correct.


    As per others ... I don't object to being corrected when I'm wrong. I wasn't wrong. (Perhaps slightly incomplete, but not wrong). ;) 
    Jenni x
  • motorguy
    motorguy Posts: 22,611 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Jenni_D said:
    BOWFER said:
    Jenni_D said:
    So you're arguing only on my "no option to purchase" comment - perhaps I could have phrased it better as "no option to purchase in the contract", but it doesn't change the thrust of my previous comment one iota. 🙄
    AFAIK you may be one of the many who genuinely think a lease car 'has' to be handed back and you've no say in the matter.
    If you object to being corrected, get it correct.


    As per others ... I don't object to being corrected when I'm wrong. I wasn't wrong. (Perhaps slightly incomplete, but not wrong). ;) 
    And a lot more correct than "The lease companies will always sell you the car if you want"
  • BOWFER
    BOWFER Posts: 1,516 Forumite
    1,000 Posts Second Anniversary Name Dropper
    motorguy said:

    And a lot more correct than "The lease companies will always sell you the car if you want"
    Can you give me an example of one who won't?
    I've run a small company fleet, I've leased personally for years too.
    Lease companies from small independents, to direct from the manufacturer - for decades.
    When approached, not one has refused to sell a car - not one.

  • BOWFER
    BOWFER Posts: 1,516 Forumite
    1,000 Posts Second Anniversary Name Dropper
    Maybe personal leases are different, but when I have tried to buy my ex-lease company cars, the price quoted by the lease companies has been so silly high as to immediately shut off any interest - the most absurd was being offered a Fiesta at the end of lease at within £1k of the Broadspeed price for the same car brand new.  So, the option was there, but it would be crazy to take it.
    Yup. their offers can be silly - but did you haggle?
    They're not always daft though and I've successfully bought several cars over the years on behalf of employees.
    I still see one regularly, a Fiat Punto that an employee's wife fancied for herself at the lease end.
  • BOWFER
    BOWFER Posts: 1,516 Forumite
    1,000 Posts Second Anniversary Name Dropper
    edited 1 June 2021 at 5:46PM
    motorguy said:
    BOWFER said:
    Jenni_D said:
    So you're arguing only on my "no option to purchase" comment - perhaps I could have phrased it better as "no option to purchase in the contract", but it doesn't change the thrust of my previous comment one iota. 🙄
    AFAIK, you may be one of the many who genuinely think a lease car 'has' to be handed back and you've no say in the matter.
    If you object to being corrected, get it correct.


    I think Jenni's point is worth making.  You have no contractual right to buy the car at the end of the term, nor do they have to give you a price to buy it.

    That may well be a consideration for many.

    Frankly i dont think you can say "The lease companies will always sell you the car if you want".  At best, it could be said "you may have".

    Oh and Money Saving Experts comment is the same as Jenni's view.

    https://www.moneysavingexpert.com/car-finance/car-leasing/



    Jenni didn't say "you have no contractual right to buy the car at the end"
    There's no ambiguity there and no argument from me.
    What was said was "you have no option to buy the car" - which is 100% incorrect.
    The MSE article you link to is also incorrect to say you won't get the option to buy a lease car.
    I've done it, several times, how much more proof does anyone need to show they're wrong?
    If you phone some lease companies, they even have the phone option "press X if you want to buy your car"
    The MSE article needs to be changed.
  • Jenni_D
    Jenni_D Posts: 5,431 Forumite
    1,000 Posts Fourth Anniversary Name Dropper Photogenic
    edited 1 June 2021 at 7:09PM
    You're misreading my use of "option" ... if you read the wording in context I was saying (and am still saying) that a PCH contract does not offer a contractual option to purchase at the end of the contract. It DOES NOT do this - at all. You've even said so yourself. So you're arguing minor semantics to try and prove a point - and failing badly. 🙄
    Jenni x
  • Grumpy_chap
    Grumpy_chap Posts: 18,232 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    BOWFER said:
    Yup. their offers can be silly - but did you haggle?
    Well, no.  If I think a car is worth <£10k and they ask for >£15k we are so far apart that entering into conversation seems pointless.  I went to a Ford Dealer and bought a better and newer car for £14k.
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