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Discussion Starter #1
Im looking into leasing my new car instead of going down the pcp route,the car is a polo 1.8gti dsg.

https://www.contracthireandleasing....our-new-car-limited/volkswagen/polo/80566650/



just incase the deal is taken off their site heres the gist.. 6+35 payments @ £200pcm (£1200 initial payment) 10k miles per yr

Theres a few at approx the same cost and as i will want to change the car after 3 yrs i see this as a good deal...anyone else here lease? drawbacks please:thumbup:

apologies for looking at a polo :paperbag:
 

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The main drawback I can see is that you will have laid out £8200 to borrow a Polo for 3 years. Why don't you just spend £8200 on sorting your V6 out & fuelling it?
 

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Discussion Starter #3 (Edited)
The new car is to be a joint car for my wife and myself but we wanted something with a bit of poke but theres a plan for a weekend car as well.....not my 156v6 though (thats spoken for)
 

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I'm now hooked on leasing after 2.5 years of my 1st
lease car.

It is an expensive way to drive a car and my
calculations 3 years ago were that if I wanted
a new car that was less than 25K (€) list it was
better to buy than to lease.

The main factor was residuals. Which were better
on certain more expensive brands/models.
 

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Discussion Starter #5
I'm now hooked on leasing after 2.5 years of my 1st
lease car.

It is an expensive way to drive a car and my
calculations 3 years ago were that if I wanted
a new car that was less than 25K (€) list it was
better to buy than to lease.

Is it an expensive way to drive a NEW car though? taking depreciation into account,paying the baloon payment at the end of a pcp term or giving the car back and starting all over again.I see the lease deal as a similar outlay in my circumstances..

Ok a older used car would be cheaper and keeping what i got would be the smart option but wheres the fun in that..
 

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I looked at leasing before I got my 2013 MY GQV on PCP.
There were some good hot hatch deals on Corsa VXR at the time but largely due the imminent Corsa E I guess.

Benefits:
Fixed contract length
Fixed costs
Warranty
Insurance could also be cheaper
IMO excess mileage charged lower than PCP

Neutrals vs PCP or HP:
You will still need GAP cover
Alloy wheel insurance if you take that



Negatives:
Hard to get out of if your circumstances change
Some of the deals had specific entry requirements
Don't forget the VAT
Insurance could be higher
No ownership option if you massively exceed or use less than your contracted mileage means you could be out of pocket at the end.

At the end of the day, cars that cost that amount per month to buy are never going to appreciate so you might as rent rather than buy if you get bored after a bit... Or stick to cars under £2000 and change every year.



Sent from my iPad using Tapatalk
 

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Discussion Starter #7
I looked at leasing before I got my 2013 MY GQV on PCP.
There were some good hot hatch deals on Corsa VXR at the time but largely due the imminent Corsa E I guess.

Benefits:
Fixed contract length
Fixed costs
Warranty
Insurance could also be cheaper
IMO excess mileage charged lower than PCP

Neutrals vs PCP or HP:
You will still need GAP cover
Alloy wheel insurance if you take that



Negatives:
Hard to get out of if your circumstances change
Some of the deals had specific entry requirements
Don't forget the VAT
Insurance could be higher
No ownership option if you massively exceed or use less than your contracted mileage means you could be out of pocket at the end.

At the end of the day, cars that cost that amount per month to buy are never going to appreciate so you might as rent rather than buy if you get bored after a bit... Or stick to cars under £2000 and change every year.



Sent from my iPad using Tapatalk

Thanks.....vat incl in all the quotes ive looked at:thumbup:
 

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With the price of 2nd hand Ewoks at the time the lease made sense.
The high residuals (here) meant that I got a well spec'd lease car
that in terms of purchasing new was way above any budget I'd set.

Very pleased with how it's all worked out. But the all-inclusive business
contract is probably not as good as what I'd expect to get as a private individual.
 

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I'm in the first few months of my first lease and very happy with the experience. I had savings for a new car that went to pay off a good chunk of our mortgage instead; the mortgage reduction more than pays for the car :beer:

The key thing is not to focus on a particular car but to find a special offer that meets your needs; there are some amazing bargains out there but you have to be quick and flexible to get them.

Avoid adding options; you will pay the full price of them over the course of the lease so they quickly bump up the monthly rate.

Two year deals tend to be the cheapest.

Your Polo deal doesn't look bad, but I reckon you'd find a similar car for quite a bit less with some searching.
 

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If you really want a new car, then it is going to be expensive however you do it.

If you buy it, you have total flexibility, but you get hit by depreciation.

If you lease it, then you pay every month and it adds up - as Pud says, £8200 to borrow a Polo seems .... well, a lot.

But then, I'm not the sort of person who would want/value a Polo or the newness thereof.

Basically, if you want a "new" car, you'll get taken to the cleaners however you do it. If you were concerned about VFM, then you'd be buying a 5 year old one.
 

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I'm not so sure.... by leasing a new vehicle for 2 or 3 years you do away with MOT's, cambelt changes, brake changes plus the unknowns affecting a 5 year old car - wheel bearings, suspension components and in the case of diesels, injectors, dpfs, intercoolers, turbos etc etc.

We went down the PCP route, not for the new vehicle reason (I couldn't give a stuff if a car is new or 20 years old), but for the certainty of costs going forwards for 3 years. Each month it costs us £220 and we know exactly where we are. No depreciation to think of, no MOT's, 1 or 2 basic services.

It is impossible really to quantify which is the best value for money, as the costs of maintaining a 5 year old car for a further 3 years are unknown. You might be lucky and spend £1000 or you may be unlucky and end up spending £3000. Of course if you are a DIY mechanic then it is less than this, but for those who don't DIY...

And then you have to fund the initial purchase either from savings or a loan and the hassle of initially buying and selling on.

I think the £££ differential is pretty small and then when you factor in hassle, reliability and the new car factor then for us it is a bit of a no brainer.
 

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For me as I think I've said, it's total peace of mind.

I no longer give a rat's fart about the car and lose no sleep about it
getting damaged, stolen, broken into etc.


There is a cost, but it's not so great to offset the upside of worry free motoring.
 

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Also if you have 3 other cars which require constant fettling (25 year old Defender, 13 year old XC90 and 14 year old 156), having at least one vehicle you don't have to think about is liberating!!
 

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Discussion Starter #15
Thanks for your comments,

Ive decided to go down the pcp route as i then have the chance to buy the car at the end of term even though the idea is to change every 3 years.Ive test driven a few small sporty alternatives (abarth turismo,mito qv line,mini cooper s,seat ibiza cupra,renaultsport clio) and found the polo gti the best of the lot so now the 10 week wait begins....
 

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I got Mrs P a new Panda ona pcp after she retired. Not exactly a hot hatch I know, but what she wanted. A pleasant surprise was the loyalty bonus for having a Fiat group vehicle - £500 extra discount and 0.3% lower rate on the finance (1.5% down to 1.2%). Only one vehicle counts for discount so I couldn't get double for the Ducato based motor home. Interest worked out to be just over £200 so roughly the same as I would earn with the cash on deposit, but more than made up for by the extra discount.
 

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