Leasing a car

[CoolCat]

Leasing works better on some cars than others. If the makers are giving the lease company a bigger discount than the sales channel. Cars predicted to depreciate less than average. And so on. Its always worth figuring out which cars have the best deals.

[AtW]

Leasing works better on some cars than others.

Leasing works best if it's not your money ...

In all other cases it's a totally tulipy idea.

[PurpleGorilla]

i know. Any idea how to snatch this business deal and not pay BIK ?

If we are fighting on math lets compare :
3 years old BMW 5 bought for 17000 on loan 15k and 2k own cash (note that bmw 3 GT cost about 22k)
approx 1700 interest on credit @ 5years
2 year resale value @ 10000 miles per year - 12k
loss over 2 years: £6700

total cost of leasing (based on your figures: 5304...

and on leasing I can have new car, with color i want and get new one after 2 years again. I think this is first case I see where numbers vote for leasing

MTFU and buy a car FFS you earn big bucks.

[diseasex]

MTFU and buy a car FFS you earn big bucks.

Hehe, still shopping around mate

[LondonManc]

i know. Any idea how to snatch this business deal and not pay BIK ?

If we are fighting on math lets compare :
3 years old BMW 5 bought for 17000 on loan 15k and 2k own cash (note that bmw 3 GT cost about 22k)
approx 1700 interest on credit @ 5years
2 year resale value @ 10000 miles per year - 12k
loss over 2 years: £6700

total cost of leasing (based on your figures: 5304...

and on leasing I can have new car, with color i want and get new one after 2 years again. I think this is first case I see where numbers vote for leasing

12k could be optimistic.

Leasing takes the risk out of the resale value and you get to drive a car that's never more than two years old.
A 15k loan will cost you c.£370/month, a brand new 5 series on lease £310. If you don't like it after two years, get the latest deal on a Merc E class or whatever else floats your boat.

[PurpleGorilla]

12k could be optimistic.

Leasing takes the risk out of the resale value and you get to drive a car that's never more than two years old.
A 15k loan will cost you c.£370/month, a brand new 5 series on lease £310. If you don't like it after two years, get the latest deal on a Merc E class or whatever else floats your boat.

Don't forget 'gap' insurance [emoji79]

[diseasex]

12k could be optimistic.

Leasing takes the risk out of the resale value and you get to drive a car that's never more than two years old.
A 15k loan will cost you c.£370/month, a brand new 5 series on lease £310. If you don't like it after two years, get the latest deal on a Merc E class or whatever else floats your boat.

15k loan on 5% is about 278£ a month

[Snarf]

It really depends heavily w many miles you'll do, how long you plan to keep it etc.
I bought mine on PCP last year because it worked out about the same as a lease (they gave it to me with a tiny deposit) and I'm going to treat it like a lease, it will get handed backnor traded in next year...

The main selling point of the pcp over a lease for me was that it's mine if I want to keep it at the end of the term I pay the baloon and its done, with a lease you have nothing at the end at least with a PCP theres an option to keep it.

I'm sure others have different opinions!

At the end of the day this discussion is a bit like the constant discussions about savings on tax.. You can go to extremes trying to save as much as possible but really, you can afford a nice car.. Is it really worth that much hastle trying to save the equivelant of a weeks work by shopping round?

[gables]

Leasing works best if it's not your money ...

In all other cases it's a totally tulipy idea.

Hmm, I found when doing the maths, that after two years I wouldn't be significantly worse off.

[gables]

It really depends heavily w many miles you'll do, how long you plan to keep it etc.
I bought mine on PCP last year because it worked out about the same as a lease (they gave it to me with a tiny deposit) and I'm going to treat it like a lease, it will get handed backnor traded in next year...

The main selling point of the pcp over a lease for me was that it's mine if I want to keep it at the end of the term I pay the baloon and its done, with a lease you have nothing at the end at least with a PCP theres an option to keep it.

I'm sure others have different opinions!

At the end of the day this discussion is a bit like the constant discussions about savings on tax.. You can go to extremes trying to save as much as possible but really, you can afford a nice car.. Is it really worth that much hastle trying to save the equivelant of a weeks work by shopping round?

I agree.

Some of the lease companies may offer it but it's not built in, but to be honest I don't want it at the end, I'll get something else