Leasing Cupra

[andrew_ww]

Hi,

I'm getting tempted to trade in my 63 plate 1.4 FR. Been a great car, but now looking a something a little bit more frisky.

So I'm looking at the cash I've lost on mine, paid 18.5k and various sites are reporting a used price around 10k

So in 30 months I've lost £283 a month. So I'm now thinking why bother, why not just lease it and be done with it.

Does anybody have advice over leasing versus buying out right, experiences with any lease companies would also be appreciated.


Also no idea what the going rate is for say a DSG Cupra, found this:

https://www.centralukvehicleleasing...73177/seat/leon/20_tsi_cupra_290_5dr_dsg.html

Which seems pretty reasonable @ £200 per month - Is this a good deal?

Last question for all you Cupra owners, is 290bhp too much for a front wheel car to handle, i.e. can you actually get of the lights without having to buy a new set of tyres each week...

Cheers.

 

[DaFoot]

Personally I decided the pcp/lease option was too heavily weighted in favour of the dealer.

When I've finished paying my loan, my car will still have some value. Yes, it'll be a tiny fraction of what I paid, but it will be mine.

With leasing it felt too much like renting for my tastes. Too many fudge factors the dealers can use to make sure it's favorable in their direction.

Having said that, I'd u was planning on changing car frequently and not bothered about actually owning it, the convenience of leasing has its appeal.

 

[kiddo]

The annual mileage is low. Double it to 10k pa and the monthly cost increases by double as well so not a good deal in my opinion unless you do less than 5k pa? There are better deals out there I'm sure for 10k pa. I lease my st cupra and for a st dsg with no options the best personal lease I could find was approx £320/mnth. This was 12 months ago so suspect prices may have changed. Sc and 5 door models were cheaper as was manual variant . Do some digging and there will be deals to be had. I went with a broker called go green leasing and they were great.

 

[AndyG_TSi]

Essentially with a lease, your paying for the depreciation aspect of the car over your agreed pcp term.

If you can afford the monthly payments and you like to change your car every 2 or 3 years then go for a lease/pcp.
Whilst the car is never 'yours', I suppose it's hassle free motoring for X years if you include a maintenance pack.

It's a better option to do a lease/pcp instead of taking out a personal loan or traditional HP agreement for 100% of the cars value.

For me a loan/HP works if you have equity in the car you currently own and can put down a substantial cash amount to the purchase of the new car.

EG: Car purchase price = £16k, trade in value £5K & you put in 'say' £5k cash. So your only financing £6k via a loan or HP. This ensures you have equity when you want to change again.

Taking out a £16k loan on the other hand to buy a £16K car may leave you in a negative equity position when you fancy another change.

 

[Seastormer]

On the Bridgestones you had to be smooth and progressive to get off line smartly (untill they were warmed up) and quite often if given the gas too soon, wheel tramping was a problem. All solved with a pair of Mich Pilot S Sports on the front and quick getaways no problem at all now. Still got 12000M out the front Bridgestones.

 

[FamilyGuy]

That's also only a 2 year deal which means in 2 years time you'll have to stump up another deposit and start again. I'm leasing from be finance through the stealer, wasn't quite the cheapest but was competitive and meant I could px my old car. Nationwide vehicle contracts have a really good site which is worth checking out.

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[FamilyGuy]

VW finance, not be. Stupid phone.

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[Rog.]

I got my FR on a personal lease through Freedom Contracts, but ultimately it's VW Financial Services who collect the money each month, so if you find a good deal online it's worth going to your SEAT dealer to see if they can match it - if they do, you won't need to pay the broker's fee on top of your first payment, and it still goes through VWFS.

things I didn't know for my first lease -

• it's often better to pay as small an initial payment as possible (i.e pay 3 + 23, rather than 9 +23 for a two year contract). If the car is written off in the first couple of months, even if you have gap insurance (which you should) you will lose that first payment, so you might as well make it as small as possible.

• VWFS excess mileage rate is 7.2ppm (inc VAT) and it is often cheaper to take a deal with a lower mileage allowance and then pay the difference afterwards (I got a 15K miles/year deal, would have been cheaper to get 8K or 10K and pay the excess)

With your deal you'd be paying £2400 initial payment, £200 x 23, £180 broker fee, and £100'ish gap insurance, so £7280 over two years. It looks like the broker is using the large initial payment and low annual mileage to make the monthly payment look good - but it's not too bad a deal if you aren't doing high miles, and aren't worried about stumping up another reasonably large deposit in two years time when the lease ends.

 

[page3]

[*]VWFS excess mileage rate is 7.2ppm (inc VAT) and it is often cheaper to take a deal with a lower mileage allowance and then pay the difference afterwards (I got a 15K miles/year deal, would have been cheaper to get 8K or 10K and pay the excess)

Careful with the small print though as (for example) mine clearly says if you go 20% over your chosen milage they will re-negotiate excess milage as they see fit. This wasn't mentioned at any stage before seeing the T&C's.

 

[adamant]

I lease mine as I didn't want to loose the money. I looked at contract hire and leasing - found the best deal and went for it. I put £690 deposit down and pay £230 a month. For that I get a new FR184 for 3 years. I'm sure there are people who have had bad experiences though mine has been pretty good. Car was in stock so only had to wait 2 n a bit weeks

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[adamant]

Oh n millage is 12k pa

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[andrew_ww]

There seems to be lots of options. On the other side checking out the deals on broker sites. Drive the deal offering the DSG version for £24.7k Used them last time pretty pleased. Although the only annoyance is no trade in which means juggling getting rid of current car with whenever the new one arrives.

Has anybody used https://www.new-car-discount.com/, they seem to be pretty competitive and do part exchanges.

 

[ozz]

For a general price list contract hire and leasing is a good place to start.
the best deals seem to come through VW Financial services so try your dealer, but go on a weekday, as it's usually the fleet department that does the leasing deals.
Also a thread on PH that's worth checking out
I'm on my second SEAT, lease, I had an exeo and now have a Leon FR184 tech.
I won't tell you the prices, as I do biggish miles and have maintenance included,

 

[UTCIAD]

Hi,

I'm getting tempted to trade in my 63 plate 1.4 FR. Been a great car, but now looking a something a little bit more frisky.

So I'm looking at the cash I've lost on mine, paid 18.5k and various sites are reporting a used price around 10k

So in 30 months I've lost £283 a month. So I'm now thinking why bother, why not just lease it and be done with it.

Does anybody have advice over leasing versus buying out right, experiences with any lease companies would also be appreciated.


Also no idea what the going rate is for say a DSG Cupra, found this:

https://www.centralukvehicleleasing...73177/seat/leon/20_tsi_cupra_290_5dr_dsg.html

Which seems pretty reasonable @ £200 per month - Is this a good deal?

Last question for all you Cupra owners, is 290bhp too much for a front wheel car to handle, i.e. can you actually get of the lights without having to buy a new set of tyres each week...

Cheers.

Leasing isn't for everyone for the many reasons already posted but it works for me. I took delivery of an Ice Silver Cupra 280 manual in July 2014 on a 2 year lease through Best Car Finder, who don't charge a brokers fee - 9+23 months @ £247, 8K miles P/A. Absolutely love the car and no, provided you don't use the throttle like an on/off switch, it isn't too much power for FWD. Not always easy to nail a perfect standing start but the in-gear acceleration more than makes up for it.
Sadly the car goes back in July, the good news is that my new Alor Blue Cupra 290 has already been built and is on it's way to the UK, again on a 2 year lease at 8K miles P/A. This time around I again worked through deals on Contract Hire and Leasing but to my surprise found that my local main dealer could beat them all so they have my business (VAG finance).
From my experience I would suggest phoning around a few of the brokers advertising the deals to find out more about supplying dealers, lead times etc. - particularly if you are adding options. Some may say there is no room to negotiate but personally I have found there is and some of them will work very hard to source the best deal possible across different finance companies (e.g. Josh at Best Car Finder). Also bear in mind that proximity to end of month can sometimes have a bearing on discounts/flexibility, and most finance companies generally publish their new rates at the beginning or every quarter so a deal you saw at the end of March may change significantly when the new rates come out in early April.
Best of luck with your search, come back and tell us how you get on!

 

[DaFoot]

I lease mine as I didn't want to loose the money. I looked at contract hire and leasing - found the best deal and went for it. I put £690 deposit down and pay £230 a month. For that I get a new FR184 for 3 years. I'm sure there are people who have had bad experiences though mine has been pretty good. Car was in stock so only had to wait 2 n a bit weeks

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There are good reasons to lease - convenience, one monthly payment and you always have a car no older than 2 or 3 years (but paying forever), getting a new car when perhaps otherwise couldn't afford one, but not losing money is not a reason to lease over buying.

 

[LeonCR]

There are good reasons to lease - convenience, one monthly payment and you always have a car no older than 2 or 3 years (but paying forever), getting a new car when perhaps otherwise couldn't afford one, but not losing money is not a reason to lease over buying.

A good lease deal will be a lot cheaper than any pcp, yes you may have to pay a deposit again but I guarantee that the depreciation you have to pay on a pcp will work out more in most cases

 

[DaFoot]

A good lease deal will be a lot cheaper than any pcp, yes you may have to pay a deposit again but I guarantee that the depreciation you have to pay on a pcp will work out more in most cases

Yes, sorry I'm confusing the 2!

 

[j.owen]

I currently lease an Ibiza FR Black Edition (2015) for £132pm with a 1k deposit, this is for 15,000 miles and only two years rather than the three/four lease companies normally offer. Admittedly this isn't ideal for everyone but for me it is because I'm a new driver so will be looking to upgrade after the lease period anyway. The deal I got was ridiculously good compared to others I've seen, it was £117pm for 8k miles as standard, I think it's a no-brainer (If you like to change cars every few years, but then again who doesn't if the option is there? It's always under warranty, it's brand new so there's no worries of somebody else ragging it around before you etc). The only downside is not being able to modify (unless you want to bother reverting it back to stock and re-selling everything before the end of the lease period).

The company I lease mine through is Lease4Less, definitely worth a look - They also mentioned to me that if you're after a car that isn't on the site then they can get you a quote.

 

[simonsaunders]

I got mine on a PCP from my local SEAT dealer. £3k discount + £500 finance contribution + 0%. I used CarWow to help.

Was the best offer I could find whilst also being free to select the options I wanted.

 

[TomW]

I'd advise going directly through a Seat dealer as they will match anything you find online. No hidden fees etc.

I managed to get a cupra 290 for £240 a month on 10k pa - personal. Seems like peanuts to drive a near 300bhp brand new car. They pay for your road tax, and I will just need to service it once.

Either way you'll love the cupra!