Lease car

[Inchy]

I’ve always owned my own car. I generally buy a car for 4-8k and run it to the ground (or my wife crashes it) until it’s worth nothing. Usually about 5/6 years.

My current car is a 2013 golf estate bought for 8k 4 years ago. The particulate filter is knacked and my garage has said worst case scenario could be 2k to strip all the sensors and replace the part.

I’ve just started a new job as a community matron so il be driving a lot at work. Fuel is paid for and is generally slightly above what it costs to fill up. That’s adjusted depending on the cars fuel type.

I’m wondering if it’s worth getting a lease, specifically an electric lease. I can get it on salary sacrifice meaning It comes out of my wage before taxes, NI and pension. I can get an VW ID3 or Hyundai Koni for about 350 a month when it would be about 550 a month to average leaser

My question is what’s people experiences of leasing like? I’m not massively arsed about driving a nice car but I am a bit fed up of always driving older beat up cars

[Burnley1989]

I’ve leased a few for my mrs, works well as she gets a nice enough family car and changes it every 2-3 years, usually stick with VWs.

For my company car obviously they lease them and like yourself I’m never fussed about anything flash but haven’t been given a choice most of the time and ended up paying a fortune in tax
Just got another EV as I was able to choose for myself, it’s nothing special and I went with it to save myself circa £600 a month in tax, does about 220 miles on average which is good enough. They’re a bit of a pain at first but you get used to it and as things stand I’d not change back to Diesel.

[Belial]

I was in the same position as you many years ago with older ones until I spotted a good lease deal, did all the sums and worked out that with what I'd save in fuel and repairs, it'd work out roughly the same.

It was nice having a new car and feeling confident it wouldn't break down like the older one. For the 4 years i had it, it was completely hassle free. The only thing I didn't like was that it isn't yours, but plenty of people these days go from one to the next and don't care - same with PCPs etc.

I'd say do your sums and if it's reasonable (there are deals to be found and your work scheme sounds decent) then I'd go for it.

[Boss Hogg]

Good post was thinking of this myself as I need to renew. I’ve had mainly company cars historically or bought cash outright lately and not kept for long. I’ve have done one HP, one PCP and one Lease though previously. Don’t think I’m a fan of PCP and Lease companies are strict when you return them in my experience. Don’t fancy the stress of parking in a supermarket car park and some idiot putting a dent in it. I have one luxury car and one old runabout ( which goes to supermarkets). Young people in brand new lease cars ( that they can’t afford outright) look down their noses at me in the runabout which makes me laugh. Unless you are bothered about driving a brand new car and the image that might give you I would buy an older car with cash at a good price. On a lease you are paying for depreciation and it’s dead money. Also think of Benefit in Kind tax. Leases and PCPs are a debt hanging over you too if you lose a job ( appreciate unlikely in your type of work). Others might have a different view.

[littlemissclaret]

My uncle had a beat up old Peugeot and I persuaded him to ditch it and get a lease (Ibiza FR about £150/month). The cost over 2 years for driving a really lovely brand new car was similar to the Peugeot - way less petrol, no mot, no oil, no tyres, no servicing, no repairs, cheaper insurance. It's all about the numbers.

[kingarthur]

I’ve always owned my own car. I generally buy a car for 4-8k and run it to the ground (or my wife crashes it) until it’s worth nothing. Usually about 5/6 years.

My current car is a 2013 golf estate bought for 8k 4 years ago. The particulate filter is knacked and my garage has said worst case scenario could be 2k to strip all the sensors and replace the part.

I’ve just started a new job as a community matron so il be driving a lot at work. Fuel is paid for and is generally slightly above what it costs to fill up. That’s adjusted depending on the cars fuel type.

I’m wondering if it’s worth getting a lease, specifically an electric lease. I can get it on salary sacrifice meaning It comes out of my wage before taxes, NI and pension. I can get an VW ID3 or Hyundai Koni for about 350 a month when it would be about 550 a month to average leaser

My question is what’s people experiences of leasing like? I’m not massively arsed about driving a nice car but I am a bit fed up of always driving older beat up cars

What site are you using to get the prices on those cars if you don’t mind me asking.

[Shaggy]

It all depends on the type of driving you do aswell and how far. If you are driving over 10-12k miles a year then leasing/pcp starts to become expensive.

The best way imho is a personal loan then buy the car with the funds. You will be able to get a nice used car with no finance and conditions attached to it.

[Rick_Muller]

Was looking for a previous thread about what happens when you hand it back as I had a bad experience. Not saying it always happens, but it is something to be mindful of.

http://www.uptheclarets.com/messageboar ... =2&t=33014

[clarethomer]

What site are you using to get the prices on those cars if you don’t mind me asking.

Reads like it’s the NHS salary sacrifice scheme. It’s one of the best schemes out there from what I have read.

[Inchy]

What site are you using to get the prices on those cars if you don’t mind me asking.

NHS fleet solutions, although new trust use a different company So I need to check out their prices but I assume similar.

Remember this is all coming out pre tax the the savings are significant

[DavidEyresLeftFoot]

NHS fleet solutions, although new trust use a different company So I need to check out their prices but I assume similar.

Remember this is all coming out pre tax the the savings are significant

I’ve got an electric car through NHS fleet solutions and it’s great. When you factor in the savings from not having to pay insurance, road tax, servicing, tyres etc it’s a really good deal. Plus the fuel savings mean it’s virtually cost neutral. Just one small quirk to be aware of regarding pension tax. Not sure what your pay scale is but if you’re up around band 8/9 then you’re floating close to the pension tax trap. If you give the car back and end the lease they treat the extra pay you get back as a payrise (!) which can affect your pension tax threshold. If you earn less it shouldn’t be an issue.

[IanMcL]

Don't leases restrict your mileage?

I was lucky enough to have a company car, back in the day. Went for topnotch the range, just by paying a few pounds a month. Wonderful.

New one about every 12-15 months. Marvellous.

Now I buy my own, of course...

[Foshiznik]

Only issue i found with leasing was when you come to change cars, you've got to stump up the big deposit, whereas the first time you can just use your current owned car. Just something to keep in mind.

[upanatem]

I leased (personal contract hire) a few years ago, and managed to get a super deal. I rang a couple of car leasing companies and enquired about prices, etc. I wanted an Audi A4 or similar. I indicated that price was a major factor, and asked for the best deal. I knocked all offers back, but left the door open by saying for them to call me if they had a better deal. I was not in a rush, and was prepared to wait.

One guy kept ringing back and I kept knocking him back on price. One day he rang and said their company was doing a deal with Audi for 12 vehicles in colour black or white. I still knocked him back although the price was getting more interesting. He rang me some days later and said all cars were leased except for 2, and if he got a commitment for 1 more, then his Company could proceed with the deal. We negotiated a great price because it allowed him to do a deal on all 12 cars. It was under £300 inc VAT per month from memory for a 3-year deal. I can't remember the mileage agreed.

I ended up doing a separate deal with the leasing company for a further (4th) year at around £280 per month.

Moral: if you can latch onto a muti-car deal towards the end of the sales process when down to their last few then you have the potential for a great deal.

[kaptin1]

I’ve leased my last three cars and had great deals but prices have shot up recently. What was a £400/month car two years ago is now 40-50% more. Other issue is when you come to switch car. If your replacement is delayed then you may find you are without a car unless you can extend your current deal on a short term basis. I use https://leasing.com/ to find the best deals.

[IanMcL]

I leased (personal contract hire) a few years ago, and managed to get a super deal.
Moral: if you can latch onto a muti-car deal towards the end of the sales process when down to their last few then you have the potential for a great deal.

Nice one!

You reminded of a council guy I know. He wanted a new home (split from wife) where the kids could come and stay too.

Went to Persimmon and said what his budget was and his need. Phone rang. Woman had conversation with boss about something. Puts phone down.

"This one is a nice property and would give you loads of space. End property, over 3 storeys".

Reg (council guy) says yes it looks great but that is about a third more than my budget, so not a lot of point.

Persimmon lady responded with... that call was my boss. We have end of month figures do complete and this one has just fallen through. Makes massive difference to our bonuses, which are linked at different levels of sale.

This is the ladt afternoon and you are here. If you like it, it is yours.

He liked it! Kids have their own floor.

[AfloatinClaret]

... was lucky enough to have a company car, back in the day. Went for topnotch the range...

Now I buy my own...

I recall that: In the latter years of my salaried career I drove red Alfas; the company's 'car policy' wasn't my problem, you wanted me to work for you, you provided me with an Alfa. I eventually went freelance and it was time to buy and more importantly maintain a car using my own money for the first time in twenty odd years. The wife gave me a small grin when she enquired 'another 156?' and a much larger one when I came home with a Mondeo.