Facelift What happened to all the leasing deals!

cptjay

Registered User
Just to show I'm not totally against PCP....

Seat recently running 0% offer on the Arona.
Got one for the Mrs - £0.28p deposit (yes 28p), and £187/mo for 4 years, 8kmpa. 5ppm excess.

£8976 over term for an £18k vehicle.

This deal was about £800 cheaper over term than a lease at the time, showing the impact of the 0% finance.

Again, I see no need to tie up capital in a deposit, just so the car manufacturer can keep it and potentially give it back to me in 4 years time :whistle2:
 
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Maco

Registered User
Quick comparison then on my recent S4 deal.

Leasing 3yrs, 12kmpa - £1300 deposit and £435/mo = total £16525 all in cost.

PCP 3yrs, 10kmpa - £1300 deposit (and £1k audi contribution), £830/mo = £30350.
Final payment £22800 but lets assume valuation around £24k (50% residual).
Get deposit back (yay!), £1300+£1200 profit (if I manage to sell it) - £30350 = total £27850 all in cost.

PCP costs an extra £11500 over the term, but I get to "own it", and I have an "asset" at the end of it. And get my deposit back. :blink:

Wonder why dealers push PCP so hard :icon thumright:


I would personally never go down the PCP route, HP yes but not PCP.. I’m also not against leasing, but personally couldn’t afford £435 a month. @motty225 is about to receive his S4 for £2800 deposit & £280 a month. Now that’s something I’d be certainly interested in, if it’s a 3 year term that’s only £12,880. If you can get a deal like that it’s worth going for.

Personally I think it has a lot to do with circumstances, if you’ve always owned your cars outright & have a large cash P/X from it when trading in against something else then HP or a cash buy is probably the way to go..
If you’ve never owned a car outright or it’s a low value vehicle then obviously it’s the easy way to get into a brand new car if you can afford the monthly out lay.

I’ve been lucky, I’m 24 now. Had my first car bought outright when I was 17 which was a Audi A3. From then I’ve always kept them a few years & part exchanged them while they where still worth a good amount of money.
 

NevMan

Well known member
yep, some good deals to be had, PCP and lease, just looking out for them is the key.

Agree, cash is king :icon thumright:
 

cptjay

Registered User
I would personally never go down the PCP route, HP yes but not PCP.. I’m also not against leasing, but personally couldn’t afford £435 a month. @motty225 is about to receive his S4 for £2800 deposit & £280 a month. Now that’s something I’d be certainly interested in, if it’s a 3 year term that’s only £12,880. If you can get a deal like that it’s worth going for.

Personally I think it has a lot to do with circumstances, if you’ve always owned your cars outright & have a large cash P/X from it when trading in against something else then HP or a cash buy is probably the way to go..
If you’ve never owned a car outright or it’s a low value vehicle then obviously it’s the easy way to get into a brand new car if you can afford the monthly out lay.

I’ve been lucky, I’m 24 now. Had my first car bought outright when I was 17 which was a Audi A3. From then I’ve always kept them a few years & part exchanged them while they where still worth a good amount of money.

Sure... And if you permanently pay a monthly HP with your initial capital always tied up from car to car... then a lease could be better financially because

a) you're not tying up a large amount of capital
b) you have no depreciation risk
c) you can access deals which are substantially cheaper than HP in the first instance
 

cptjay

Registered User
I would personally never go down the PCP route, HP yes but not PCP.. I’m also not against leasing, but personally couldn’t afford £435 a month. @motty225 is about to receive his S4 for £2800 deposit & £280 a month. Now that’s something I’d be certainly interested in, if it’s a 3 year term that’s only £12,880. If you can get a deal like that it’s worth going for.

Personally I think it has a lot to do with circumstances, if you’ve always owned your cars outright & have a large cash P/X from it when trading in against something else then HP or a cash buy is probably the way to go..
If you’ve never owned a car outright or it’s a low value vehicle then obviously it’s the easy way to get into a brand new car if you can afford the monthly out lay.

I’ve been lucky, I’m 24 now. Had my first car bought outright when I was 17 which was a Audi A3. From then I’ve always kept them a few years & part exchanged them while they where still worth a good amount of money.

Would be surprised if £12880 was a 3 year deal but happy to be corrected.

I happened to see the paperwork for my S4 from the supplying dealer showing the cost to the finance company, and on my all in cost of £16525 over 3 years, their margin was absolutely wafer thin!
 

Maco

Registered User
Sure... And if you permanently pay a monthly HP with your initial capital always tied up from car to car... then a lease could be better financially because

a) you're not tying up a large amount of capital
b) you have no depreciation risk
c) you can access deals which are substantially cheaper than HP in the first instance

Ive HP’d one car, so wouldn’t say I permanently have monthly payments. To be honest only went down the HP route due to buying my first home & tying a lot of cash in the deposit for that.

Regarding point C, I pay £225 a month. I’ve never came across a PCP or a lease when I’ve looked lately that comes anywhere close to that monthly payment. When I looked last night for the same spec car as mine, the payments where £370 month for 48 month with a £3300 deposit. £21,000 just to lease the car. That’s crazy, obviously didn’t shop around that was the first deal I came across. Just double checked, them prices where for 5000 miles a year. 12,000 miles a year means a price of £406 a month for 48 month with a £3600 deposit or £462 a month for 36 month with a £4500 deposit

Point A. If I sold my car cash, used some of it for the deposit & then used the rest towards paying for monthly outlays by the end of the my lease I’d have none of that cash from the sale of my vehicle left. Also wouldn’t have a asset at the end worth anything. At least my way of doing it always leaves me with a vehicle worth something , depending on depreciation it could be small amount or it could be significant.. either way it’s more than what a lease leaves me with.
 
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cptjay

Registered User
Ive HP’d one car, so wouldn’t say I permanently have monthly payments. To be honest only went down the HP route due to buying my first home & tying a lot of cash in the deposit for that.

Regarding point C, I pay £225 a month. I’ve never came across a PCP or a lease when I’ve looked lately that comes anywhere close to that monthly payment. When I looked last night for the same spec car as mine, the payments where £370 month for 48 month with a £3300 deposit. £21,000 just to lease the car. That’s crazy, obviously didn’t shop around that was the first deal I came across. Just double checked, them prices where for 5000 miles a year. 12,000 miles a year means a price of £406 a month for 48 month with a £3600 deposit or £462 a month for 36 month with a £4500 deposit

Point A. If I sold my car cash, used some of it for the deposit & then used the rest towards paying for monthly outlays by the end of the my lease I’d have none of that cash from the sale of my vehicle left. Also wouldn’t have a asset at the end worth anything. At least my way of doing it always leaves me with a vehicle worth something , depending on depreciation it could be small amount or it could be significant.. either way it’s more than what a lease leaves me with.

Leasing can be especially attractive given special offers, agree there. Not much out there right now which looks attractive....

Although did see a Jaguar i-pace the other day for £450 ish.. given the list price of £65k that looked quite good!
 

motty225

Registered User
I would personally never go down the PCP route, HP yes but not PCP.. I’m also not against leasing, but personally couldn’t afford £435 a month. @motty225 is about to receive his S4 for £2800 deposit & £280 a month. Now that’s something I’d be certainly interested in, if it’s a 3 year term that’s only £12,880. If you can get a deal like that it’s worth going for.

Personally I think it has a lot to do with circumstances, if you’ve always owned your cars outright & have a large cash P/X from it when trading in against something else then HP or a cash buy is probably the way to go..
If you’ve never owned a car outright or it’s a low value vehicle then obviously it’s the easy way to get into a brand new car if you can afford the monthly out lay.

I’ve been lucky, I’m 24 now. Had my first car bought outright when I was 17 which was a Audi A3. From then I’ve always kept them a few years & part exchanged them while they where still worth a good amount of money.
It's a 2 year deal not 3 years, but everything else is correct, £2400 deposit with £280 a month including a couple of extras, paint, VC etc off to sign the paperwork at the dealer today at about 4pm,but won't be collecting the car Until the 19th as I need to go away with work for a couple of weeks
 

NevMan

Well known member
It's a 2 year deal not 3 years, but everything else is correct, £2400 deposit with £280 a month including a couple of extras, paint, VC etc off to sign the paperwork at the dealer today at about 4pm,but won't be collecting the car Until the 19th as I need to go away with work for a couple of weeks
Nice one, cracking deal that! Which Lease company did you use, for future reference that is?
 

NevMan

Well known member
Apologies, think I already asked the above, as I bookmarked them already :icon thumright:
Enjoy collection, and please post some pics.
 

terminator x

Registered User
Quick comparison then on my recent S4 deal.

Leasing 3yrs, 12kmpa - £1300 deposit and £435/mo = total £16525 all in cost.

PCP 3yrs, 10kmpa - £1300 deposit (and £1k audi contribution), £830/mo = £30350.
Final payment £22800 but lets assume valuation around £24k (50% residual).
Get deposit back (yay!), £1300+£1200 profit (if I manage to sell it) - £30350 = total £27850 all in cost.

PCP costs an extra £11500 over the term, but I get to "own it", and I have an "asset" at the end of it. And get my deposit back. :blink:

Wonder why dealers push PCP so hard :icon thumright:
Lease cars tend to be zero options though and imho who would want to spend any time in such a low rent environment?

TX.

Sent from my BBB100-2 using Tapatalk
 

Maco

Registered User
It's a 2 year deal not 3 years, but everything else is correct, £2400 deposit with £280 a month including a couple of extras, paint, VC etc off to sign the paperwork at the dealer today at about 4pm,but won't be collecting the car Until the 19th as I need to go away with work for a couple of weeks

Absolutely cracking deal that, If that deal came back round I’d be tempted to get myself the S4 & keep the A4 for the wife to use for work :yum:
 

cptjay

Registered User
Lease cars tend to be zero options though and imho who would want to spend any time in such a low rent environment?

TX.

Sent from my BBB100-2 using Tapatalk

You can spec any options you want on a lease. I added a couple to mine.

Don't find the S4 a "low rent environment"... but each to their own :wink:
 

cuke2u

Registered User
Its not finacially wise to add too many options to a lease though...
 

cptjay

Registered User
Its not finacially wise to add too many options to a lease though...

You are correct - on lease the cost of options is usually applied in full to the term... I say usually, as I did have a Golf R with full leather which was an £1800 option and the cost was £15/month. The finance company clearly liked leather!

The same could be said about options in any situation however - the thread recently with a forum member trying to sell an A4 above market valuation because it had £13k of options, as an example.

Options can make a car more desirable and therefore easier to sell... but do little for a second hand valuation.

Leather and sat nav have historically always been the options where some value is carried forward.
 

cuke2u

Registered User
On a PCP the cost of the options can be offset by the discount though. Your second and third paragraphs go without saying anyway...
 

cptjay

Registered User
On a PCP the cost of the options can be offset by the discount though. Your second and third paragraphs go without saying anyway...

And if your lease cost is half that of a PCP quote... you can add in plenty of options and it still be cheaper overall for the term. :blink:

All how it's sliced and diced!
 

cuke2u

Registered User
Swings and roundabouts, eggs and suck ;-)
 
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