Purchase of Leased vehicle

Luckypants

Extra Large Member
Apr 7, 2015
177
2
N.E. Wales
This must be the most expensive way possible of buying a car!

My Leon is a company lease and comes to an end at the end of March 2018. The lease was a good deal when I took it on due to tax and NI savings, but has become less and less competitive as time went on. I will have paid around £18K over 3 years and the lease company are offering to sell me the car for £8700. Total paid would be £27K for a vehicle with a list price (including extras) of £24.5K. As I got a lot of paperwork, I know that the lease company only paid £18K for the vehicle.

They must think I was born yesterday to expect me to pay that much for a vehicle I have effectively already paid for.

Am I being unreasonable or is this a rip off price? Has anyone bought a car after leasing it?
 

pavarotti1980

Active Member
Jul 18, 2017
121
10
This must be the most expensive way possible of buying a car!

My Leon is a company lease and comes to an end at the end of March 2018. The lease was a good deal when I took it on due to tax and NI savings, but has become less and less competitive as time went on. I will have paid around £18K over 3 years and the lease company are offering to sell me the car for £8700. Total paid would be £27K for a vehicle with a list price (including extras) of £24.5K. As I got a lot of paperwork, I know that the lease company only paid £18K for the vehicle.

They must think I was born yesterday to expect me to pay that much for a vehicle I have effectively already paid for.

Am I being unreasonable or is this a rip off price? Has anyone bought a car after leasing it?

Nope the lease companies are looking at ways to recoup their money since the tax changes for salary sacrifice schemes which it seems yours was given your tax/NI savings.

My lease which has just come to an end was for a Fiesta Zetec S @ £210pm with insurance, maintenance etc for 3 years. To buy at the end of the 3 years they wanted £9k which is higher than market value at present. So effectively £17k which will be more than they paid for the vehicle in the first place.

Prior to fiesta i had a focus and was quoted £7k at the end of the lease. in hindsight i should have snapped their hand off as this was trade in value.
 

robby71

Full Member
Sep 3, 2005
653
91
Yorkshire, UK
Only car i've had on a lease (private company not through dealer) was a 2014 Fiesta ST2 which was £1200 up front and £170 x 24 months which worked out at less than £5300 over 2 years (bargain) - £18k over 3 years for a SEAT seems very expensive :blink:
 

TallTom

Active Member
Oct 16, 2017
70
2
Only car i've had on a lease (private company not through dealer) was a 2014 Fiesta ST2 which was £1200 up front and £170 x 24 months which worked out at less than £5300 over 2 years (bargain) - £18k over 3 years for a SEAT seems very expensive :blink:

Ditto are you sure you’re not on PCP? My Cupra comes in at just over 6k for 2 years.... £6k per year seems very wrong for a PCH.
 

Wings988

Active Member
Oct 27, 2011
509
59
Derbyshire
This must be the most expensive way possible of buying a car!

My Leon is a company lease and comes to an end at the end of March 2018. The lease was a good deal when I took it on due to tax and NI savings, but has become less and less competitive as time went on. I will have paid around £18K over 3 years and the lease company are offering to sell me the car for £8700. Total paid would be £27K for a vehicle with a list price (including extras) of £24.5K. As I got a lot of paperwork, I know that the lease company only paid £18K for the vehicle.

They must think I was born yesterday to expect me to pay that much for a vehicle I have effectively already paid for.

Am I being unreasonable or is this a rip off price? Has anyone bought a car after leasing it?

£6k a year is far too much (even fully serviced and insured) and from your signature it seems you don't even have a Cupra? Sounds like you've been royally stroked. One thing you didn't mention was the mileage you've done in the car, if it's inter-galactic then you'll normally get charged an excess mileage fee, maybe you got the car on unlimited miles in which case they've loaded the price in case you do 40k a year :confused:just trying to think why you'd be paying that much to lease....
Let the car go back and if you still want a Leon you can lease a Cupra 300 for circa £260 a month for 10k miles a year. Just expect the usual long wait for the car, circa 6 months [B)]
 

ukoldschool

Active Member
Apr 12, 2012
382
55
Nobody is holding a gun to your head, if you don’t like the price - don’t buy it


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Luckypants

Extra Large Member
Apr 7, 2015
177
2
N.E. Wales
Yes to all of the above. Before the BIK tax changes the price was OK compared to PCH for similar mileage. Now, not so much. There is a lot of options on the car, which I now realise is very expensive on a lease. I have learned a lesson.

I won't be buying it, my original post was poking fun at leasing companies wanting their cake and eating it.

Not sure I'll be staying with SEAT next time though.
 

ben4012

Active Member
Sep 20, 2016
257
24
The lease is a product intended to make a profit. In fact any car is a means to make money on financing. You can't take a lease and expect it to work in your favour. The intention is to make as much as possible during the term then sell it to anyone who will buy it to make more.
 
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DanTheManc

Active Member
Sep 10, 2016
21
10
Manchester
£27.5k for a car with an RRP of £24k seems about right.

If you finance a car, whether its a lease, PCP, HP or whatever, you will pay interest on top of the purchase price. You cant expect the car to be 0% interest and below RRP.
 

BenH

Active Member
Sep 16, 2016
658
31
Nottingham
I’m paying around 8.5k over 2 years for my 184 Titanium, higher spec and optioned out including servicing, tyres etc and 15k miles P/A which I think is a good deal. Looking at upgrading to a cupra on a similar lease is only £20 more per month though, hmmm


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Wings988

Active Member
Oct 27, 2011
509
59
Derbyshire
I’m paying around 8.5k over 2 years for my 184 Titanium, higher spec and optioned out including servicing, tyres etc and 15k miles P/A which I think is a good deal. Looking at upgrading to a cupra on a similar lease is only £20 more per month though, hmmm


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That seems ok for the mileage at 15k and servicing + tyres. Its normally the mileage that makes the lease prices more, a lot of the low prices I see quoted are for 8k which for me is no good as I do about 12k.
The 300 deals are good though and SEAT finance are really good to deal with and can make you a tailored deal for the mileage you need and with service & tyres if you want.

Treat yourself to the 300, you'll love it :funk:
 
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