Facelift What happened to all the leasing deals!

[Blakeyboy]

Hi all

I’m just over two years into my lease of my A4 S-Line Avant and thought I’d start having a little peruse of what deals might be out there at the minute...

THERE IS NONE!....Have I missed something?

My current car is is a 2.0TDI S-Line Avant, 3 year lease, 10k a year etc. I currently pay a fraction over £300. These days you’ll be lucky to get this car under £500/month. When I got my car it wasn’t a special offer and I got the same quote from a number of companies.

Anybody else noticed similar? Is the leasing game finically up?!

 

[unitzero]

WLTP and the unavailability of cars for months may be the problem.

Are you only looking at VAG cars ?


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[Blakeyboy]

WLTP and the unavailability of cars for months may be the problem.

Are you only looking at VAG cars ?


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Yes just looking at VAG at the moment.

Forgive my ignorance, but what is WLTP?

 

[unitzero]

Yes just looking at VAG at the moment.

Forgive my ignorance, but what is WLTP?

New emissions testing procedures.

Many of us have placed orders as long ago as April / May and aren’t expecting to take delivery of our Audi’s until possibly January next year.

Audi have to test all MY19 cars under the new process and have not been very quick to sort it out. Leaving many with little to no info in regards to when they will expect to see their cars.


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[AntNut]

Yes just looking at VAG at the moment.

Forgive my ignorance, but what is WLTP?

It's our worst nightmare!

 

[Terminator x]

Literally no Audis being delivered probably until 2019.

TX.

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[DohNut]

Saw a 68 plate Q8 at the weekend so some cars are getting through.

 

[motty225]

My 68 plate s4 is at the dealers waiting collection

 

[cuke2u]

Quite, some cars are getting through which suggests that there is more to it than just the new testing regime...

 

[A4B9]

A6, A7, A8 and Q8 are all new cars and have been tested under the new regime which is why you’re seeing them in 68 plate guise. S4 might have been sitting there for a few months waiting to be registered.

 

[motty225]

A6, A7, A8 and Q8 are all new cars and have been tested under the new regime which is why you’re seeing them in 68 plate guise. S4 might have been sitting there for a few months waiting to be registered.

It came to the docks last week and to the dealer this morning, unless its been sat at the other end for a while

 

[Maco]

There doesn’t really seem to be many deals on any of the high end brand at the minute, Before I purchased my A4 I looked at sticking with Mercedes & going down the leasing route for the first time. For a C220 AMG they wanted £7000 deposit & £390 a month & for a A200 AMG it was £360 a month with a £4000 deposit.
I think Bmw have the best leasing options monthly payments wise, a 320d M sport is £329 a month with a £6000 deposit. I didn’t want to pay much more than a couple hundred a month so I went down the HP route on a couple year old car.

 

[motty225]

There doesn’t really seem to be many deals on any of the high end brand at the minute, Before I purchased my A4 I looked at sticking with Mercedes & going down the leasing route for the first time. For a C220 AMG they wanted £7000 deposit & £390 a month & for a A200 AMG it was £360 a month with a £4000 deposit.
I think Bmw have the best leasing options monthly payments wise, a 320d M sport is £329 a month with a £6000 deposit. I didn’t want to pay much more than a couple hundred a month so I went down the HP route on a couple year old car.

Deals to still come around from time to time it's just looking in the right place at the right time, my mate at work had a golf gti dsg for 2400 deposit and 105 a month, until this month a had a Leon cupra 290 Black edition for 2400 deposit and 131 a month, and my s4 has just arrived at the dealers for 2400 deposit and 280 a month

 

[Maco]

Deals to still come around from time to time it's just looking in the right place at the right time, my mate at work had a golf gti dsg for 2400 deposit and 105 a month, until this month a had a Leon cupra 290 Black edition for 2400 deposit and 131 a month, and my s4 has just arrived at the dealers for 2400 deposit and 280 a month

Wow!! That’s absolutely cracking, if I could get a brand new S4 for that sort of deal I’d be down there tomorrow!!

 

[motty225]

Wow!! That’s absolutely cracking, if I could get a brand new S4 for that sort of deal I’d be down there tomorrow!!

It was "deal of the day" on national vehicle solutions back in June, it was actually slightly cheaper originally but I added Drayton grey paint, virtual cockpit and extended ambient lighting to the spec

 

[Maco]

It’s something I’m definitely going to look into when I’m ready to change. I should go for leasing next time as I never keep my cars long enough. Had the previous E class 20 months & will more than likely only keep the A4 a year & a half maybe 2 years. The first car I’ve ever financed was the Merc & ive just switched it over to the A4 on a HP deal. My plan was to pay it off ASAP, by which time I’ll probably be ready to change.

I’m not really clued up on the whole PCP/leasing game etc. Wouldn’t want to walk into a main dealer without knowning what’s what because I would have my pants pulled down

 

[Maco]

It was "deal of the day" on national vehicle solutions back in June, it was actually slightly cheaper originally but I added Drayton grey paint, virtual cockpit and extended ambient lighting to the spec

Just had a quick look, An S4 is £428 a month for 3 year with a £4000 deposit now.

 

[motty225]

Just had a quick look, An S4 is £428 a month for 3 year with a £4000 deposit now.

Yeah unfortunately deals don't hang around long, the 2 sites I mainly check are national vehicle solutions and freedom contracts it's just finding them at the right time, I normally start looking when I've got about 4/5 months left on my lease

 

[cuke2u]

A6, A7, A8 and Q8 are all new cars and have been tested under the new regime which is why you’re seeing them in 68 plate guise. S4 might have been sitting there for a few months waiting to be registered.

They still need to tested in the same manner though. So no different really and I didn't think that our wonderful government would allow anything to be registered post september without having been through the new testing regime....

 

[Maco]

Yeah unfortunately deals don't hang around long, the 2 sites I mainly check are national vehicle solutions and freedom contracts it's just finding them at the right time, I normally start looking when I've got about 4/5 months left on my lease

That sounds like good forward thinking, when I’m coming to the end of my HP I think I’ll start doing the same. They have a descent deal on the R line golf, £260 a month.

My only problem with leasing is this, I’ll try explain as best as possible. My current A4 I just paid £16500 for, £10,000 was cash the other £6500 was HP’d. Say I went into a garage tomorrow, sold them the car & got them to clear the finance & they give me my £10,000 cash back. Obviously it would be less than that but just to make the figures easy.

Most of them leasing deals I’ve just looked at where around £4000 deposits & around £300 a month. That’s over £14,000 over a 3 year lease. So basically after my 3 year lease, that car goes back & ive got no cash left from my car? Meaning I need to find £4000 for another lease or maybe £15/20,000 to buy outright. Am I thinking right or am I being completed stupid?

I suppose if you’ve never owned your car, or owned a high proportion of it then it doesn’t matter. But when you’ve got a big cash payment involved with your current car

 

[HMG1K]

Audi, in line with the rest of VAG, changed its leasing and finance deals to make them purposely less attractive around April of this year. Because of their success, it was hitting the cars values going into the second hand market, in turn values of older WAG cars already in the market, like a domino. WLTP is a separate and unconnected issue.

 

[cptjay]

There doesn’t really seem to be many deals on any of the high end brand at the minute, Before I purchased my A4 I looked at sticking with Mercedes & going down the leasing route for the first time. For a C220 AMG they wanted £7000 deposit & £390 a month & for a A200 AMG it was £360 a month with a £4000 deposit.
I think Bmw have the best leasing options monthly payments wise, a 320d M sport is £329 a month with a £6000 deposit. I didn’t want to pay much more than a couple hundred a month so I went down the HP route on a couple year old car.

£6k deposit and £329 a month... for a 320d? Crikey.

 

[Terminator x]

Saw a 68 plate Q8 at the weekend so some cars are getting through.

Cars built before production stopped?

TX.

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[Maco]

£6k deposit and £329 a month... for a 320d? Crikey.

Nearly £18,000 to drive around in a car for 3 years that’s not yours. This is what I mean about not really understanding PCP/leasing..
If you own a car that is worth quite a bit, then I don’t really see the point. On the the other hand if you can’t afford to pull out a big lump of cash why get into a leasing deal that over the years is going to cost you quite a bit of cash for the car to be given back at the end. I’d rather HP something for 3 year or even 4 year, at least at the end you’ve got an asset worth money

 

[cuke2u]

It's simple PCP will get you into a car you couldn't otherwise afford to either buy outright or on HP. Also, at 3.5% on a PCP, I don't agree at the comment that Audi has changed it finance deals either, it is still the same as when I purchases in 2016...

 

[Daggerit]

It's simple PCP will get you into a car you couldn't otherwise afford to either buy outright or on HP. Also, at 3.5% on a PCP, I don't agree at the comment that Audi has changed it finance deals either, it is still the same as when I purchases in 2016...

I think that he actually said they'd changed the lease deals, not just the finance deals. The PCP APR changes model to model and throughout the year as well as far as I know, so you must just be lucky getting the same % all the time.

 

[sunshinewelly]

Deals to still come around from time to time it's just looking in the right place at the right time, my mate at work had a golf gti dsg for 2400 deposit and 105 a month, until this month a had a Leon cupra 290 Black edition for 2400 deposit and 131 a month, and my s4 has just arrived at the dealers for 2400 deposit and 280 a month

unfortunately my time machine is broken so cant go back to June. I looked throughout July and beginning of August for a decent S4 deal and they do not exist. so for me it made sense to buy nearly new as monthly loan payments were less than a lease (with the px value of my BMW)

 

[HMG1K]

I think that he actually said they'd changed the lease deals, not just the finance deals. The PCP APR changes model to model and throughout the year as well as far as I know, so you must just be lucky getting the same % all the time.

Thank you, yes leasing and financing (of those deals) PCP is an different proposition, as we know. WLTP is separate, I waited five months for my A5, ordered in February, and just been the extended factory closedown at the end of July for WLTP changes to the production line.

 

[cuke2u]

I think that he actually said they'd changed the lease deals, not just the finance deals. The PCP APR changes model to model and throughout the year as well as far as I know, so you must just be lucky getting the same % all the time.

Possibly but the wording had leasing and finance deals within it. However if I did mis-interpret it then my apologies..

 

[cptjay]

Nearly £18,000 to drive around in a car for 3 years that’s not yours. This is what I mean about not really understanding PCP/leasing..
If you own a car that is worth quite a bit, then I don’t really see the point. On the the other hand if you can’t afford to pull out a big lump of cash why get into a leasing deal that over the years is going to cost you quite a bit of cash for the car to be given back at the end. I’d rather HP something for 3 year or even 4 year, at least at the end you’ve got an asset worth money

In that case, compare the HP costs to the leasing costs over the term you expect to have the vehicle.

It is highly probable that by the time you factor in the interest payments on the HP, the cost of capital for the deposit and the opportunity cost of the same capital tied up in a depreciating capital item... leasing wins almost every time... IF you want a new car for a short period (say 2/3 years), ie comparing like with like.

There is a reason why businesses generally always lease (rent) depreciating capital items.

I've never understood the retail punter obsession with wanting to own a car... its not an asset, its a liability.

Reminds me of the saying about compound interest - He who understands it earns it... he who doesn't pays it....

The BMW is a very bad example, £18k cost of term is insane!

 

[Maco]

In that case, compare the HP costs to the leasing costs over the term you expect to have the vehicle.

It is highly probable that by the time you factor in the interest payments on the HP, the cost of capital for the deposit and the opportunity cost of the same capital tied up in a depreciating capital item... leasing wins almost every time... IF you want a new car for a short period (say 2/3 years), ie comparing like with like.

There is a reason why businesses generally always lease (rent) depreciating capital items.

I've never understood the retail punter obsession with wanting to own a car... its not an asset, its a liability.

Reminds me of the saying about compound interest - He who understands it earns it... he who doesn't pays it....

The BMW is a very bad example, £18k cost of term is insane!

£10,000 cash deposit, £225 a month for 36 month which comes out at £18,100. In 3 years time. If I do actually keep the car 3 year, it’s still going to be worth maybe £10,000 ish maybe a little less depending on miles. So yes the BMW example isn’t the best, but for me going HP & having a asset with a quid at the end works out a lot better than spending £18K & having nothing at the end of it.

Like I say, I’ve never looked at leasing so I don’t have a clue how cheap you can actually get the cars.

 

[NevMan]

At risk of being shot down here, but I would tend to agree...larger deposits "generally" mean you have a chance of getting a chunk of your deposit back at the end of the 2/3/4 year period, but clearly many factors to consider such as make/model/condition etc etc.

I haven't ever gone down the lease route, as whilst you can get a lot for a little £2-£4k, (sometimes a lot less), there is ZERO chance of you getting anything back, but there are attractions such as then not having to worry about selling/p'x etc.

I have done PCP over the last few cars, and apart from last A6 (which I got rid of too quickly), I usually get most of my deposit back.

I will certainly have advanced look at lease deals next time, and compare against PCP, Used, Personal loan etc

 

[cptjay]

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.

Wonder why dealers push PCP so hard

 

[cptjay]

Everyone is different of course...

I currently have one vehicle on a lease and one on a PCP - the cost over the term is the key thing for me and couldn't care about ownership or having equity in a vehicle.

Cars are not assets, they are liabilities...

Factor in interest payments on HP/PCP, financing a depreciating asset and the numbers can look crazy.

 

[NevMan]

Mate, in no need to discuss further, as you say, every circumstance is different, and I cannot argue with your figures.

I am seriously impressed with these figures:

Leasing 3yrs, 12kmpa - £1300 deposit and £435/mo = total £16525 all in cost.
12k miles p/a - wow!

Who was that with by the way?

 

[cptjay]

Mate, in no need to discuss further, as you say, every circumstance is different, and I cannot argue with your figures.

I am seriously impressed with these figures:

Leasing 3yrs, 12kmpa - £1300 deposit and £435/mo = total £16525 all in cost.
12k miles p/a - wow!

Who was that with by the way?

That was fleetprices.co.uk - never used them before but they beat every other deal by a wide margin.

This was when the S4 was on offer a few months back.

Was very happy with the 12kmpa, the extra 2k miles from 10k was in fact about 15% cheaper than the excess ppm.

There was a £300 admin fee also.

Road tax included for the 3 years (which it wouldn't have been on PCP, so evens out the admin fee essentially)

 

[NevMan]

Wow, whenever I have bought I have compared against leasing prices (got a Q5 in march), and the monthly figures and even deposits were similar.
I know you need to look out for deals, a colleague at work got an S8 a few years ago for under £450 p/m over 2 or 3 years (can't remember term)

Gather you are talking personal lease and not business?

 

[NevMan]

as per OP, clearly deals are not there at the moment:

Just a little more deposit and monthlies than yours here

£29,207.66 over the term (excl fees)

 

[cptjay]

as per OP, clearly deals are not there at the moment:

View attachment 166373

Just a little more deposit and monthlies than yours here

£29,207.66 over the term (excl fees)

Definitely a "go away" price there.

I've had 3 leases over the last few years, they have always been special offers. Unless there is an offer, the prices tend to be terrible...

 

[NevMan]

I'll say