Is it worth getting a car on hire purchase?

[SimonMac]

Who insures a lease car?

[Troll]

Who insures a lease car?

In my case the best quote was by Mercedes themselves

[SimonMac]

In my case the best quote was by Mercedes themselves

I mean does the price include insurance or do you have to still unsure it yourself

[TykeMerc]

I mean does the price include insurance or do you have to still unsure it yourself

There are probably deals including insurance, but since that would attract bad insurance risk people surely the cost will be higher.

[Troll]

I mean does the price include insurance or do you have to still unsure it yourself

I'm unsure however I have to insure it separately, but given my exemplary driving record - i.e. they ain't got me yet - this is only a modest amount - not even a day rate for fully comp

[eek]

I'm unsure however I have to insure it separately, but given my exemplary driving record - i.e. they ain't got me yet - this is only a modest amount - not even a day rate for fully comp

Last renewal I got was equal to 3 hours billable. It was so little I didn't even hit the price comparison sites to see if I could get cheaper

[BolshieBastard]

I just got a E220 coupé through these lot

cars2vans

I do them on a 2 year lease & never really investigated PCP as at the end I don't want to own the vehicle - just hand it back

So you are basically funding the depreciation but as Buffet says :-

Blimey! £300 + VAT admin fee, that's steep and that car isnt the same spec as the deal I posted. Plus you're paying nearly £2000 initial payment which makes the headline look lower.

If you're leasing you want the smallest initial payment you can get.

Whether you lease a car via lease hire, lease contract, PCP or HP, you're still funding the depreciation in one form or another. As far as depreciations goes, there's no wa of avoiding it unless you buy an appreciating classic.

Generally, the shorter the lease or PCP, the bigger hit on depreciation you'll indemnify the leasor \ manufacturer as they front load the term. And you can hand the car back at the end of a PCP. Its only HP where you keep the vehicle at the end of the term because you've completed the purchase.

Sometimes, you'll get deals where it is better to take a 2 year term but that's because the manufacturer wants to get sales of a new (or outgoing) model up.

Who insures a lease car?

You do. Sometimes manufacturers offer inclusive insurance but its generally a lot more expensive than your current insurer.

In essance. it doesnt pay to take a business lease on a company car for contractors. You end up paying the tax as an employer and a BIK as the employee. So, the headline cost of a business lease may seem less but when you add in the tax, you'll be out of pocket.

[SpontaneousOrder]

I've no debts myself, but spending money that does not belong to me in order to achieve a sense of worth would seem inept.

That's nonsense. Present wealth is worth more than future wealth, so we borrow to enjoy life in the present, and repay a bit more than we borrowed in order to compensate the lender for deferring their wealth consumption until a later date.

Where's the logic in going without & saving during the years where you'd benefit from spending it the most, when you can make use of whatever it is you want to buy now - and save up to repay the loan after?

This aversion to debt is for people who can't trust themselves to manage their own money. Debt is very often a good thing.

[scooterscot]

That's nonsense. Present wealth is worth more than future wealth, so we borrow to enjoy life in the present, and repay a bit more than we borrowed in order to compensate the lender for deferring their wealth consumption until a later date.

For most wealth is about an accumulation of assets. For others it's about not having to commute more than 20 metres to the office or being with their children throughout the day. Such things are not achievable through borrowing.

Where's the logic in going without & saving during the years where you'd benefit from spending it the most, when you can make use of whatever it is you want to buy now - and save up to repay the loan after?

This aversion to debt is for people who can't trust themselves to manage their own money. Debt is very often a good thing.

Sometimes it makes sense to borrow - a lot of times it doesn't. Spending to 'benefit' accumulates bad debt. A holiday is a benefit, neither needed or affordable (obviously if you're borrowing for it!) A fancy car is benefit when a less fancy car will do the same job.

Debt has now become so socially acceptable folks think nothing of borrowing from their future (a future they know nothing about). For as long as I hear the argument that building a debt can be a good thing to achieve a good credit status it tells me we don't see a future in ourselves where we're successful. For individuals and countries alike. Imagine living in Estonia, which enjoys a public debt that is equal to only 5.6% of its GDP

[cojak]

Wealth for me is never having to go into debt to buy the things I want.

I bought my last car 10 years ago for £5k. Next year I'll probably need to spend 8k.

Both are are/will be good and will do the job I require them to do.

As every old *footballer and pop star knows and the young will discover, every £ you spend now is gone. You need to spend less than you earn over all.

*Unless your Beckham, who continues to have multiple income streams...