Buying a Lease Car at the end of the term

[eek]

Thanks for the replies.

The car is on a personal lease, not a PCP (nothing to do with my ltd co - leased in his own name). It's on a 3 + 36 month jobbie, no balloon payment at the end etc., on the understanding you hand the car back and presumably lease another.

He's asked about buying it, and they're claiming they can only sell it to a company with a company number (which sounds odd to me, but apparently this is what he's been told). I do know there is no "right" to buy a lease car at the end of the term, so ultimately it's up to the lease company's discretion I suppose.

Re.: Octavia vRS - we like Skodas.

He loves VAG, but ideally could do with a bit of a bigger car - vRS has more toys/nicer looker so takes the sting out of dropping down the VAG hierarchy (we've both owned them before).

There is sod all difference between Audi / Skoda it's just the interior will potentially be slightly cheaper (depending on model). Go to the top end Seat / VW / Skoda model and the interior will be better than most Audis..

As for only selling to a company - that's going to be a warranty issue. Company means business to business sale with no implied warranty which would be the case if the lease company sold it to an individual...

[northernladuk]

The car is on a personal lease, not a PCP (nothing to do with my ltd co - leased in his own name). It's on a 3 + 36 month jobbie, no balloon payment at the end etc., on the understanding you hand the car back and presumably lease another.

He's asked about buying it, and they're claiming they can only sell it to a company with a company number (which sounds odd to me, but apparently this is what he's been told). I do know there is no "right" to buy a lease car at the end of the term, so ultimately it's up to the lease company's discretion I suppose.

It is and you are probably stuffed. They are quick and dirty with low margins so doubt they will be bucking process for anyone so I'd say you've got your answer.

Re.: Octavia vRS - we like Skodas.

He loves VAG, but ideally could do with a bit of a bigger car - vRS has more toys/nicer looker so takes the sting out of dropping down the VAG hierarchy (we've both owned them before).

Dunno what your family is like but in my experience and listening to others, when dealing with older parents, pushing what you want on them rarely works. In fact it has the opposite effect and causes them to be more belligerent. Offering a sport model Skoda on a parent that wants a dead basic Audi is a pretty bad move IMO. You need to listen to what he wants and help guide him, not drop something stupid on him he doesn't understand or want. It's his car, what has your choice on cars got to do with him?

[WTFH]

Thanks for the replies.

The car is on a personal lease, not a PCP (nothing to do with my ltd co - leased in his own name). It's on a 3 + 36 month jobbie, no balloon payment at the end etc., on the understanding you hand the car back and presumably lease another.

He's asked about buying it, and they're claiming they can only sell it to a company with a company number (which sounds odd to me, but apparently this is what he's been told). I do know there is no "right" to buy a lease car at the end of the term, so ultimately it's up to the lease company's discretion I suppose.

Is it leased through VW Finance or some other leasing company?
VWF normally will sell to the customer at the end of the lease (not before), but if it's through a 3rd party, then it's up to that company.

[northernladuk]

Is it leased through VW Finance or some other leasing company?
VWF normally will sell to the customer at the end of the lease (not before), but if it's through a 3rd party, then it's up to that company.

I think that depends on the contract you pick. Most of them offer multiple options. PCP, Hire purchase and PCH. PCH doesn't give you the option to buy.
Not sure about 3rd parties as it's often hard to find out which option it is, HP, PCP etc.

[WTFH]

I think that depends on the contract you pick. Most of them offer multiple options. PCP, Hire purchase and PCH. PCH doesn't give you the option to buy.
Not sure about 3rd parties as it's often hard to find out which option it is, HP, PCP etc.

I was sure I had read that VWFS were prepared to talk about buying after PCH, but have just read on the source of all motoring truth that they now don't...

You (at least, the person leasing the car) can't buy it because of the tax treatment of leases. However some will sell to another person (even your partner).

Some firms have disposal arrangements in place and will be contracted to send them all their cars. VWFS, for example, sell through a 3rd party company.

[fiisch]

There is sod all difference between Audi / Skoda it's just the interior will potentially be slightly cheaper (depending on model). Go to the top end Seat / VW / Skoda model and the interior will be better than most Audis..

As for only selling to a company - that's going to be a warranty issue. Company means business to business sale with no implied warranty which would be the case if the lease company sold it to an individual...

Ahhh that makes sense...! So if he is hell-bent on keeping, I'd need to chat with my accountant whether it'd be reasonable/feasible to use my company for an in-out transaction.

Agreed on the VAG hierarchy - was surprised to see Skoda switchgear in a £200k Porsche 911 Turbo S..! (I would take the Porsche though).

[fiisch]

It is and you are probably stuffed. They are quick and dirty with low margins so doubt they will be bucking process for anyone so I'd say you've got your answer.

Dunno what your family is like but in my experience and listening to others, when dealing with older parents, pushing what you want on them rarely works. In fact it has the opposite effect and causes them to be more belligerent. Offering a sport model Skoda on a parent that wants a dead basic Audi is a pretty bad move IMO. You need to listen to what he wants and help guide him, not drop something stupid on him he doesn't understand or want. It's his car, what has your choice on cars got to do with him?

As in, we've both had Octavia vRS' before... He's from a time when having the Mondeo GLX vs the LX was a statement to the neighbours, if you got the Mondeo Ghia then you were really ballin'. So he's a bit sniffy about the badge i.e.: "if it's an Octavia, then it has to be the vRS".

But a moot point as I don't think he'll consider a used car (which would probably be the most sensible option in his position).

[milanbenes]

last year my mum was talking about buying solar panels because they will pay back in ten years, I said mum, forget that, and spend the money on holidays, you might not be here in ten years so what's the point

Milan

[WTFH]

last year my mum was talking about buying solar panels because they will pay back in ten years, I said mum, forget that, and spend the money on holidays, you might not be here in ten years so what's the point

Milan

I assume you are not the biological parent of any offspring, or it it your default attitude - kick the can/responsibility down the road?

[milanbenes]

this opens a whole new debate doesn't it

which we could discuss until the cows come home

essentially it boils down to how green is green

if a solar panel and an electric car makes people feel they are
saving the planet then good for them

time will tell

Milan.