End of 0% PCP on Leons

[LeonFRTDi]

Ive got no SHEEP or CATTLE the dirty stinking things thank goodness
Iam an ARABLE farmer..
And Grain Prices are to put it BLUNT
SHITE....

The World is awash with huge over stocks of it...

Bit like the Milk Job.

 

[LeonFRTDi]

Whats this about me being a Troll
You probs wont even know the correct meaning of the word
Strong words from those that probs should know better.

I have been on this Forum longer than most & think its a great info resource

Had SEAT Cars in my family for the last 12 odd years now.

 

[Jonno02]

Whats this about me being a Troll
You probs wont even know the correct meaning of the word
Strong words from those that probs should know better.

I have been on this Forum longer than most & think its a great info resource

Had SEAT Cars in my family for the last 12 odd years now.

The most annoying thing about your posts is that you take a new line every 6-7 words. What the hell?

 

[surrealjam]

Just going to point out that you won't be concerned about the depreciation because you would have already paid for it in your monthly installments.

This whole "I'm not affected by depreciation because I lease" thing is just plain wrong, it really gets my goat as it's what the finance companies want you to believe and it's not true. You are paying the depreciation, just per month instead of a lump sum at the end. Don't be fooled.

The only benefit of leasing is if you haven't got the cash to stump up to begin with.

The majority of the PCP and PCH deals I looked at came to virtually the same cost. I don't mean just the simple monthly costs or deposit amounts I mean sitting down with a spreadsheet and really comparing the overall costs over the whole term side by side. Of course it goes without saying that you're paying the depreciation on PCH... just like you will if you buy the car outright, or go PCP, or HP. There's no avoiding it - new cars depreciate and you'll be paying a lot of money for the pleasure of driving one. The lease company isn't doing you a favour here... they are running a business.

One small benefit of PCH which can be overlooked is that the hire company is liable for paying the road tax as it's the owner's responsibility. On a car like a Cupra, that's over £400 in 3 years so could actually sway the figures seeing as things are likely to be pretty close.

Just my two pennies worth. I mostly get annoyed with people that assume PCH is a stupid thing to do and people are fooled into it. A good deal is a good deal, and a bad deal is a bad deal... spend an hour with a calculator and you can't go wrong.

 

[Curtly]

The majority of the PCP and PCH deals I looked at came to virtually the same cost. I don't mean just the simple monthly costs or deposit amounts I mean sitting down with a spreadsheet and really comparing the overall costs over the whole term side by side. Of course it goes without saying that you're paying the depreciation on PCH... just like you will if you buy the car outright, or go PCP, or HP. There's no avoiding it - new cars depreciate and you'll be paying a lot of money for the pleasure of driving one. The lease company isn't doing you a favour here... they are running a business.

One small benefit of PCH which can be overlooked is that the hire company is liable for paying the road tax as it's the owner's responsibility. On a car like a Cupra, that's over £400 in 3 years so could actually sway the figures seeing as things are likely to be pretty close.

Just my two pennies worth. I mostly get annoyed with people that assume PCH is a stupid thing to do and people are fooled into it. A good deal is a good deal, and a bad deal is a bad deal... spend an hour with a calculator and you can't go wrong.

Yeah I'll agree with that, as long as people are comparing all their options financially over the entire term (thoroughly) then they should get the best deal that suits their needs. I just can't stand people getting sucked in by headline figures and not going into the meat of deals properly.

For myself I had the cash to buy outright and chose a car that was a couple of months old. This I found would be the cheapest way to run a car for a few years.

 

[DANFR180]

Question for people currently on a lease, Do you intend to lease cars for the rest of your life ? and if not, why not? genuine question

 

[Jonno02]

Question for people currently on a lease, Do you intend to lease cars for the rest of your life ? and if not, why not? genuine question

Depends on the car. This will be my first lease. Even with £7,000 of broker discounts, the cupra 290 black is working out at £86.58 cheaper a month to lease than PCP.

If the car I want when my lease is up is cheaper on PCP than lease, then I will PCP. I'm not one of these people that can drive anything just because it's £100 a month. I want a particular car.

I will never own outright, half to do with wanting a new car every few years and half to do with I'd rather pay £25k off on my mortgage than a car in one go.

 

[YerMaw]

Question for people currently on a lease, Do you intend to lease cars for the rest of your life ? and if not, why not? genuine question

No. I tend to have a short list of cars that fill my needs and I look at all of the options for funding those cars before making a decision. I also tend to look at used prices but these are often older cars as I don't find the 6 month - 1 year cars make a lot of sense for someone like me who is not inclined to run a car for many years. In the past i have bought used (roughly 3 year old cars), taken PCP finance, low rate personal loans and leased. I have made many mistakes along the way (most notable was a BMW that depreciated £1000 per month) but have also had a few successes.

My car situation is complicated. Or rather i make it complicated by being an obsessive petrolhead.

The car I lease is my personal car for getting about, the odd family trip and a bit of fun on the B roads every now and then. I also own (bought outright) 3 other cars which cover family bus, track car and nostalgic/will never part duties.

 

[kazand]

Question for people currently on a lease, Do you intend to lease cars for the rest of your life ? and if not, why not? genuine question

No. This is the first personal lease deal I've done, I've had 26 years worth of company lease cars ( yet the company I'm with now buy them outright, but that's another story ) the decision was taken based in the costs for the next two years. Having had a Cupra 280 for nearly two years, I know roughly what these will be. After taking that into account, plus the road tax included bit, the figures for lease came out a lot cheaper per month than PCP. This was in part due to the zero up front payments. When, in 2 years , replacement is due, I will look at both our circumstances and the offers available, and decide accordingly.

 

[surrealjam]

Question for people currently on a lease, Do you intend to lease cars for the rest of your life ? and if not, why not? genuine question

Not for me. Most people want a lease to give them the chance to run a new/nearly new car all the time. First of all because new cars are nicer... but they are also more reliable, have full manufacturer warranties, lower fuel bills (hopefully), latest tech, higher safety etc.

 

[NeilTXJ]

Question for people currently on a lease, Do you intend to lease cars for the rest of your life ? and if not, why not? genuine question

I've run a company car for many years and thinking of coming out of the scheme so running a car on PCH is not much difference.

I have a monthly amount I want to spend and look for the best car/deal I can get for the money. Also like new cars and to change every few years so leasing gives me what I want.

Our family car, which I intend to keep for longer, I bought outright as nearly new and think probably the most cost effective way to buy if intending to keep for a while.

There isn't a right and wrong just make sure you know what you are getting into.

 

[LeonFRTDi]

Thank you finally someone can see the wise words ive mentioned so long ago.
Folks dont seem to want or cant save anything anymore yet they can afford monthly repayments?
Also everyone wants new cars as soon as there able to drive regardless of if they can actually afford to do so. Then get bored with there car after 2 years or 3 & then just keep paying out to get another...
I live where i work yes that helps but i still need vehicles to get places or all of the other reasons
but dont clock many miles in 12months.
Ive sat n done all the sums & outright purchase of the low mileage vehicle i choose was by far the best way. Yes i had the money but seeing ive had my previous car 10years ive had plenty time to put it away. oh i did mention i gained around £3k in interest on that money aswell so didnt need to save as much. some of you's will figure it out when you have no money left, then its too late

 

[YerMaw]

Thank you finally someone can see the wise words ive mentioned so long ago.
Folks dont seem to want or cant save anything anymore yet they can afford monthly repayments?
Also everyone wants new cars as soon as there able to drive regardless of if they can actually afford to do so. Then get bored with there car after 2 years or 3 & then just keep paying out to get another...
I live where i work yes that helps but i still need vehicles to get places or all of the other reasons
but dont clock many miles in 12months.
Ive sat n done all the sums & outright purchase of the low mileage vehicle i choose was by far the best way. Yes i had the money but seeing ive had my previous car 10years ive had plenty time to put it away. oh i did mention i gained around £3k in interest on that money aswell so didnt need to save as much. some of you's will figure it out when you have no money left, then its too late

It suits your circumstances and needs and your happy with it so it's the right choice. If someone can afford the monthly fees to finance or lease a car and their want is such that they like to run a new car then that's the route that's right for them. Live and let live. You can do either in a way that makes some financial sense.

It really annoys me when people who buy outright assume anyone who dares to use finance does so because they can't afford to pay cash. Forgive the vulgarity of this post but I could go buy a new Cupra with my own cash tomorrow. The combined cost of the other cars that I do own outright would probably buy me a couple more Cupras. 2 of them are even appreciating in value so hopefully it will be a while before I have no money left.

 

[kazand]

I've run a company car for many years and thinking of coming out of the scheme so running a car on PCH is not much difference.

I have a monthly amount I want to spend and look for the best car/deal I can get for the money. Also like new cars and to change every few years so leasing gives me what I want.

Our family car, which I intend to keep for longer, I bought outright as nearly new and think probably the most cost effective way to buy if intending to keep for a while.

There isn't a right and wrong just make sure you know what you are getting into.

Current Leon is 19 months old and has 26k on the clock. Company car normally averages 40-50k a year , company policy is change at 90k so I normally get a new motor every 2ish years. Saving is fine, if you Have the time. After going through a real bad time health wise last year ( and still ongoing) during which I saw 'the other side' briefly a few times, I've decided ( along with t'other half) that we will try to have things we want now, rather than wait for tomorrow (which may never come) I have no intention if being the richest man in the graveyard.....

 

[matrixjs]

The Only way to win with a BRAND NEW CAR is to keep it for a few years
I kepy my mk1 FR for 10years...
Owed me nothing...
Best car ive ever had by some margin.
50mpg - 600+ miles from every tank.
did 97000miles in 10years.
Serviced every 10,000
Still has original all original Brake Discs on even now as the 2nd owner lives close by & its at 106,000 miles now.

I agree with that I have bought my last 2 cars brand new, both golfs and my current MK5 TDI 170 I have had 10 years and been a really good car but getting on a bit now and needs a new clutch so I have ordered a new Leon from DTD for 16k and buying outright, I plan to keep it several years again and should be here in September

 

[YerMaw]

The problem with running a car for years now is the cost of repair once it's out of warranty. Even independent garages can be pricey now and a 3rd party warranty adds to cost and will often exclude many parts.

Ironically, modern diesels seem to be the worst for throwing big bills. Turbo issues, egr valves, dpf's, swirl flap, dmf's .... they are just far too complicated and I can't help feeling the attempts to make them less diesel like has stolen the reliability. One big bill can quickly see your ownership costs rocket.

My 2009 Mercedes diesel threw an engine light just a few weeks ago. 5 faults via the reader. In 2 garages before it was properly fixed and £1000 lighter. The MOT then cost another £400 two days later. If it needs anything else in the next 6 months I'll set fire to the bloody thing.

 

[Marve]

Thank you finally someone can see the wise words ive mentioned so long ago.
Folks dont seem to want or cant save anything anymore yet they can afford monthly repayments?
Also everyone wants new cars as soon as there able to drive regardless of if they can actually afford to do so. Then get bored with there car after 2 years or 3 & then just keep paying out to get another...
I live where i work yes that helps but i still need vehicles to get places or all of the other reasons
but dont clock many miles in 12months.
Ive sat n done all the sums & outright purchase of the low mileage vehicle i choose was by far the best way. Yes i had the money but seeing ive had my previous car 10years ive had plenty time to put it away. oh i did mention i gained around £3k in interest on that money aswell so didnt need to save as much. some of you's will figure it out when you have no money left, then its too late

So you leave your £10k in your savings account for 10 years to make £3k? If you were as switched on financially as you'd have us believe, you would have been doing much better things with your money than that whilst sitting on it for such a long time. Investing in the S&P 500 would see you making £6k in that time, and that includes the massive setback you would have had in 2008. Jeez man, you just gave away £3k by leaving it in your savings account.

 

[LeonFRTDi]

So you leave your £10k in your savings account for 10 years to make £3k? If you were as switched on financially as you'd have us believe, you would have been doing much better things with your money than that whilst sitting on it for such a long time. Investing in the S&P 500 would see you making £6k in that time, and that includes the massive setback you would have had in 2008. Jeez man, you just gave away £3k by leaving it in your savings account.

I didnt actually state id been saving all of the 10years..
probs 3 years after i bought the NEW Mk1 id would have been tho
Then i opened an ISA back in 2009 with a lump sum
then just kept adding some in every year then after.
Interest rate was 3.45% when i started it..

I think it made over £3k in just over 5years

I wont be saying how much i had in there in total when i withdrew the full amount to buy my Car, but theres 2/3 as much back in there now. even tho the Interest Rate is just over 1.2%

SAFE easily accessible SAVINGS thats all i needed.

ive no idea what S&P is iam afraid.

 

[LeonFRTDi]

Bloody quick reply aint working

 

[LeonFRTDi]

The problem with running a car for years now is the cost of repair once it's out of warranty. Even independent garages can be pricey now and a 3rd party warranty adds to cost and will often exclude many parts.

Ironically, modern diesels seem to be the worst for throwing big bills. Turbo issues, egr valves, dpf's, swirl flap, dmf's .... they are just far too complicated and I can't help feeling the attempts to make them less diesel like has stolen the reliability. One big bill can quickly see your ownership costs rocket.

My 2009 Mercedes diesel threw an engine light just a few weeks ago. 5 faults via the reader. In 2 garages before it was properly fixed and £1000 lighter. The MOT then cost another £400 two days later. If it needs anything else in the next 6 months I'll set fire to the bloody thing.

You just have to be prepared to take the risks but i know what you mean.