Anyone got a Business / Personal Lease car - some very tempting offers around...

[Churchill]

Deals are not as good as they were a few years ago. Just handed back my BMW 760, which I was paying 410 a month for. That was 2 years old when I picked it up. Spotted a deal on a brand new 730 diesel for 399 a month, which is pretty spectacular, but unfortunately I don't do deisels

Why not? Can't you handle the torque?

[DodgyAgent]

I know a BMW M3 Coupe going for £700 per month 4K miles but I dont suppose any of you can afford it

[northernladuk]

Are you planning on doing this through YourCo or out of personal cash.

What sort of BIK would you be looking at if it's from company fundage?


I know fundage isn't really a word but it should be.

Urban Dictionary: fundage

[Churchill]

I know a BMW M3 Coupe going for £700 per month 4K miles but I dont suppose any of you are that stupid

ftfy

[northernladuk]

Deals are not as good as they were a few years ago. Just handed back my BMW 760, which I was paying 410 a month for. That was 2 years old when I picked it up. Spotted a deal on a brand new 730 diesel for 399 a month, which is pretty spectacular, but unfortunately I don't do deisels

Spelling them or driving them?

[bobspud]

I would not touch leases with a barge pole. I have been burned too many times.

Early termination costs.
Doing more miles than you expected.
Changes in jobs leading to both of the above.

Just better to pay 3 - 4k cash for something fair every year and cover it's cost in business miles...

I am due my new toy this year and my current car took the bullet early over crimbo. I couldn't find the right car to replace it with. So as a stop gap I borrowed 3k from the company and bought a cheap convertible, by the time June roles round, I will have claimed all that money back and more in business miles. leaving me either a free car for my kids, or the chance to sell it at a profit in the summer weather.

Either way, no BIK and no 15% car loan tying me down for 3 years in uncertain times.

TBH I don't think I will be bothering to go for an big toy now. It's far more attractive to have a free company car every year.

[bobspud]

I know a BMW M3 Coupe going for £700 per month 4K miles but I dont suppose any of you can afford it

We wouldn't want it. Everyone will think we are Agents or drug dealers

[meanttobeworking]

One thing to watch out for is that they base their offers on basic models. So they might say:

Car value at new: £20,000
Monthly fee: £200 x 24

But then if you add, say £1500 of extras (wheels, stereo, leather, metallic paint), rather than adding that to the value at new and factoring in only the depreciation of those items, they add the entire cost to your monthly fee, making it £200 + (£1500/24) = £262.50.

So they don't take into consideration the higher residual value of the vehicle given your additional extras, which you have paid for in their entirety anyway.

This is just in my experience, but thought I'd mention it as I don't think it's made very clear by some companies.

[EternalOptimist]

3.5k a year is too much. I churn my vehicle every two years for about 6-7 k.
that way I never have to worry about mot or servicing. and they are very forgiving about scratches , bumps etc.

so the sums involved are similar, except the vehicle belongs to me. so if i were suddenly out of work, the vehicle would still be there, paid for up front

[v8gaz]

Why not? Can't you handle the torque?

Opps, fell for the dealer line, did you? I alway have to laugh when some clown brings this up. Have you actually compared the two?#


730d - 520N.m 0-60 7.8s
760i - 600N.m 0-60 5.5s

You do realise that the ads for diesels should read 'not as crappy as they used to be'.