hail-hail

That's not actually the question
'To rent OR buy' that is the question

I am doing about 900 miles per week at the moment, I have been renting a car for the last few weeks while I decide what to buy.

However it has got me thinking.

Let's say I need to rent a car for 40 weeks of the year.

Cost to rent Hertz 'D' class car (mondeo): £100 pw
I get a free upgrade to what ever they have as I am a President's Circle member, so this usually means a Merc / Passat etc, so a pretty nice car to be in.
Fuel @ £100 is a fair estimate.
Years cost = 8k

However I can take this money straight out of my business account, i.e. before I take Tax and NI etc off of it. So in reality the 8k cost is probably nearer 5k cost to me.

I will do about 40k miles per year.

If I buy a car, I have the initial outlay of say 10k, servicing, tyres, insurance anything else that goes wrong.
Estimate a total of 15k over 3 years.

Both appear to work out around about the same cost for 3 years worth of driving, however this will mean putting 120k miles on Hertz cars instead of a car of my own.

Renting seems to be the way to go.

Can you see any glaring mistakes in my logic????

Going 4 400bhp

iTrader: (2)

Rent rent rent! All so if anything ever goes wrong with the car they just give you another one, simple

bugeyeandy

Business lease is surely the way to go if you're happy with one car.

£400+ a month on a Mondeo is madness IMO.

Buying and sticking 40k a year on your own car would also be madness I feel

hail-hail

Ok, any idea where I can get a Business Car Lease, full maintenance inc tyres, servicing, insurance, brakes etc, 40k miles per year for less than £400 pm?

No chance I fear.

I would love to be wrong however.

Timwinner

iTrader: (3)

This women was on Dragons den a while back
FORD MONDEO LEASING CHEAP NEW MONDEO ESTATE LEASE DIESEL CONTRACT HIRE Fiesta Focus C-MAX Focus Coupe Cabriolet Estate Fusion Kuga S-Max
Seems pretty cheap

zip106

Only for a fairly boggo Mondeo auto it will cost £450 pm for only 20k miles pa.
I can't imagine any leasing company letting you do 40k miles pa without a very heavy penalty.

Timwinner

iTrader: (3)

I dont know a lot about the car lease issues, I just remembered some crazy women form china or something on dragons den.

Although I just worked out that you can get a BMW 3 series, pay the additional mileage (assuming it will be 20k extra a year) and come in at close to the 400 squid budget. Plus side is if the miles are lower than 900 a week the cost will go down!
Of course if you do more......

hail-hail

If I just get one from Hertz, this solves all the problems

Timwinner

iTrader: (3)

But shes from China......china..... Its exotic!!

bugeyeandy

Don't really understand the point of this thread, seem you already know the answers

hail-hail

oooooooooo, touchy :P

BIG FUD

iTrader: (84)

That ling site right robbery lease a range sport 40 grand for 3 years wtf ..Then you dont own ****e no matter how many miles its got on it rather own something with 120k on it than nothing..

Buy a merc diesel they do 4-500k easy with good servicing get mint sl230 for 10k last you life time ..

NotoriousREV

Come back when you've worked out the finance cost plus depreciation on a Range Rover Sport over 3 years. If you change your car every 3 years anyway, it can be cheaper leasing. If you want to keep a car forever, buy it.

GC8

Ling the mentalist?!? Not a f*cking chance!

P1Fanatic

I lease a CTR for £260 a month with 10k per year. Excess mileage is 3ppm inc vat. So for an additional 30k miles a year thats £900 = £75 per month. Im sure it didnt mention a max mileage but Im sure they wouldnt be best pleased if I return it after 2 yrs with 80k on the clock lol.

Simon

hail-hail

P1, Where did you get that deal?

P1Fanatic

That was via Honda Finance. My girlfriends cousin is a honda salesman but he couldnt get a discount - however did manage to get me an MY09 model (few gadgets over the '08 model everyone else was leasing). When I was looking months earlier people were getting them for just over £200pm inc vat for a GT. I checked last month and most are over £300 now. Assume it was due to Honda having a load of MY08 models to shift (as all the lease companies get their cars from Honda Finance anyhow).

Never even thought of leasing until I joined a Type R forum and saw some of the deals. Seemed much better than sticking £18k+ into a depreciating asset and can change my car more often and keep my money in savings. No hassle with p/ex or private sale. Just hand it back and get another or keep it longer at reduced rate.

Simon

bugeyeandy

me touchy

Good luck with the search, i'm glad it's not me doing all those miles though. Most i've done in a year was 35k and that was a one off.