subevo

instead of the usual bank loan to finance a car.is it worth leasing say a new audi tt or x5 etc.keeping it for a year or two then getting rid once bored.or is it not worth the bother.just out of interest.

TopBanana

You could always save up

sti-04!!

IMO yes.

Pay 3 + 23 hand the car back. Simple as.

I have an ML at the moment that i do this way, why buy it cash ? Your money would be better off accruing(sp?) interest.

mrtheedge2u2

I am a little confused.... what does Pay 3 + 23 mean?

J4CKO

iTrader: (1)

Its worth it if you are a business and can claim it as an expense, depends whether you have £600 a month to lease a car burning a hole, by the time its insured, maintained (depending on the lease) taxed and fueled it would be getting on for a grand. I considered it when I was contracting but I would decided that a grand in my bank was better than having a car costing me £250 a month as once you are commited you are stuck with it for the duration of the lease.

I suppose if it suits your circumstances its not a bad way to do it, I just decided to save up ten grand and buy something more modest, which now I dont have to worry about paying for.

It does make things easy to budget for, the car will always be under warranty so you are mostly immune from big bills. With regards to the interest aspect, it depends on whether you have the same amount in the bank to acrue interest, if its done to afford a much better car than you could actually afford (which is what I would have been doing) I think it would be inadvisable and you need to make sure you have the spare income/profit to pay the lease whatever happens.

richs2891

Yes also in the case where for example your doing lots of milleage such as commuting to work, At the end of the lease period hand the car back and dont have the hassle of selling a car on with excess miles on & the depreation hit !

Richard

MattW

Month 1 is 3 months payments plus further 23 monthly payments. Effectively the 2 months extra is deposit.

sti-04!!

You lease payment is based on a set mileage. I have picked 12k per annum. Anything over this is charged at 0.08p per mile.

GC8WRX

Wait until its keyed or broken into, you WILL be stung by inflated repair bills, thats how they make their money!

I know someone who leased an st3 for 250 quid a month. Good price i thought!

Then it was keyed down one side at the trafford centre, the lease company wanted 2500 quid to respray it ( down one side ), and he had to pay within 28 days or face court action!

He pointed out that a quote from ford was 1800 for one side, and a local independant, insurance approved guy wanted 1300, but would have done it as a foreigner for 900 cash, the lease company laughed and told him to read the small print of his comtract!

He paid them 2500 shortly after on the advice of his solicitor!

sti-04!!

Horses for courses.

Get the car repaired before handing it back, simple as.

GC8WRX

With you on that one o4,. but the bloke in the shop made it sound like his insurance (provided by the lease firm) would cover it, he was VERY clever with the way things are worded!

My mate thought he was covered with a 400 excess, so his first thought was phone the leasing company on monday morning( it happened on a sunday night).

Turns out he is only covered if another INSURED driver hits him and admits full responsibilty! And if that happens he STILL has to pay 400 excess!

******* bunch of *****, and of course the salesman says he was straight with the facts, so appart from actually recording the conversation between my mate and said salesman at the time of sale there is **** all you can do!

So that car is now getting a hammering everywhwre it goes, with no warm up or cool down, and no mechanical sympathy at all, in the hope its a worthless wreck mechanically when handed back, as engine and powertrain and servicing are the leasing companies responsibility!! HA HA!

TopBanana

That's stupid. I'd have just repaired it and told them to go stick their invoice up their collective *****.

StickyMicky

why could he not just pay the 900quid and not inform the lease company?

EddScott

Friend of my mothers leases a merc CLS. She thinks its cheaper doing it this way than buying it. It gets replaced every 3 years. She was perfectly happy with the first one but they wouldn't let her keep it, she had to have a new one.

Think she said its cost her 18K over the 3 years.

Ved

I lease my STI from Subaru for 420 a month but I'd only really do this with my car allowance from work. I'll hand the car back in 2 years once the warranty is up depending on the miles it has on it or trade it in for a new one