Owned vs Leased ratio

[Famandy1]

0% apr hp

Put 50% down by selling off previous car and rest on 36 months 0% HP, so not long to owning it now - for some reason back then, I got another £1k towards the deposit from SEAT for taking out the interest free HP option so seemed a no brainer at the time!

 

[Notleks]

Leasing all day long. There is zero comparison.

Most people paying circa £300 a month on pcp to own something which depreciates at a faster rate than payments. Idiotic

Madness to buy or even consider pcp.

Lease everything in life with exception to a mortgage.

 

[BenH]

I have a 184 FR Titanium on lease. 3k down, 240 p/m, 15000 miles per year for 2 years, works out at around 9k total cost to myself. Just before I committed to the lease I test drove the same car with 5k on the clock, 6 months older plate on sale for 17k and the dealer wouldn't budge. The Titanium retails at around 25k, obviously you'd never actually pay that but that drop from 25 to 17 is almost all of the amount I'm paying.

For me personally it came down to 2 options. Take out a loan across, financially, at least 3/4 years to buy the car or get a lease over 2.

I do a lot of miles, I hit 10k yesterday since October which is a low average for me. If I got to the end of my lease and had a 66 plate car with 30,000 miles on it and tried to sell it for around the going price tag of 14-17k there would be so many more around with much lower mileage making mine hard to shift.

My lease also includes servicing, breakdown cover, tyre replacement, windshield cover and at the end of the day, I'm giving it back next October and don't have to worry about resale so for me it made sense. My licence plate says "JC500" at the bottom which is the dealership it came from, delivered to my door with 60 miles on the clock so can't complain.

Owning a car is great but in this day and age and the ever fluctuating car market, as well as the constant changes in diesel rules and tax and frankly my desire to have a different car after a few years, leasing was the way to go.


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[NotSoSimple]

Don't think you can, can you?

Mine 300 is a contract lease.

My previous car (Golf GTE) was a company lease and the company was offered to purchase the car when it came time to give it back for the 'trade in' cost. Decided not too an the car was collected by BVA to go to auction or perhaps into the VW pool as it was only two years old. I hope they do this to me on my 300 contract lease!

 

[NotSoSimple]

Leasing all day long. There is zero comparison.

Most people paying circa £300 a month on pcp to own something which depreciates at a faster rate than payments. Idiotic

Madness to buy or even consider pcp.

Lease everything in life with exception to a mortgage.

I think the saying is:

“If it appreciates, buy it. If it depreciates, lease it.” (Paul Getty)

 

[KXL]

Leon (now sadly gone) was on PCP 3k down, 160/month for 24 months. Returned...
It was 2nd hand, 2.2k on clock, 14 months old, former Seat Managment car when I got it.

When I first got it, it smelled new, and even ppl who sat in my car kept asking, its a new car?

Was also a K plate.

Now leasing a Seat Ibiza, 1.3k down, 200/month, 1 yr free insurance...almost all options ticked.

So voting wise, as it's Mk3 Leon thread, voting about the Leon

 

[Curtly]

I've said it before and I'll see it again. You don't beat depreciation by leasing! That's exactly what your paying for. Most of the time with a bit on top.

The only benefit of leasing is you get a new car every few years.

 

[BenH]

I know you don't beat it but you can get pretty damn close and take away all the hassle of selling at the end and get yourself a pretty good deal on servicing etc in the package


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[Curtly]

The cheapest way is to buy a 6 month old car and let the dealer take the first bit of depreciation.

 

[BreadlyBrown]

The cheapest way is to buy a 6 month old car and let the dealer take the first bit of depreciation.

Agreed. My last two have been ex-demo with a huge chunk off list price. 2-3k miles and still usual warranty and serving goodies. Usually high spec too.

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[hitchygolf1971]

Yes it's the cheaper way to buy the car say 6mths old but you still have a big initial payment for the car unless your fortunate enough to have a spare 20k to spend.

Most people will still have a bank loan to fund this or finance through the stealers at a silly APR. With a deposit of say 10k if you have this your left with a loan of 10k around £290 a month over 3yrs.

Then most people get rid when the loan is paid and start again no different to a lease but a dam more expensive and more hassle.

Yes on a lease you never own it but in theory if you have a loan to fund the car you never own it till it's paid and a PCP you never own it until the contracts finished and then if your fortunate to have positive equity to cover the end payment to put against your next car most people start again rather pay the outstanding balance .

I personally would rather keep the 20k in my bank account for a rainy day.

 

[Bengal]

Prefer lease with maintenace as then whatever happens isnt my issue plus i dont lose a chunk of cash upfront.

But depends on the value 3yr + cars id buy and try and get them with a warranty from AA etc.

 

[Gregor]

Lease for me. Toying with the idea of purchasing car when lease is up in 12 months as car has been fantastic and ticks all the boxes for me. If the price is good I will buy outright. Anyone have experience of buying vwfs lease cars?

Don't think you can, can you?

Aye - there's rules about that. You can't purchase a vehicle you leased, but *coughs* a close relative could.

Considering buy the wife's Leon SC when it goes back ... until I saw the spec of the new Ibiza FR DSG. That's a cracking looking motor.

 

[Boab]

Mine was bought used. Was ex vw fleet with low mileage. Got it on chucky with no deposit and 2 services, 1st mot and extended warranty thrown in. Got it for less than 19k and less than 2 years old. A friend fell in love with it on sight and has been hunting for a similar st Cupra since and can't find anything near that price. I am buying so I can do what I want to the car and I also do a lot of miles as I enjoy driving. It's an escape from my shan job.
I did originally want a Golf R but I'm now glad I never as they are absolutely everywhere. There are 6 in my works car park alone. No any other Cupras and even less Cupra St's on the streets.

 

[kazand]

I think the saying is:

“If it appreciates, buy it. If it depreciates, lease it.” (Paul Getty)

Yup. Changing to a lease from a PCP meant we were better off by over £200 per month, for the same (albeit new) car. We have only kept our cars for around 2 years, no intention of keeping them any longer. Admittedly we got a good deal , no upfront cost, but 24 months motoring is going to cost me less than £8k , whereas PCP would have been a lot more. I'd rather my money was in bricks n mortar. Depreciation doesn't worry me either. It could be worth 25p when I hand it back, won't affect me.
Horses for courses, won't suit all but each to their own.

 

[Notleks]

My maths tells me there are people on here paying more than £350 a month for a SEAT. MINDBLOWING

 

[Fr2013]

First time leasing for us here. Always done PCP in the past but was sick of the initial outlay (deposit) that the dealers were wanting.

Just got a stock FR 1.4 EcoTSI (150) with Midnight Black paint on a 24 month deal for £205pm with nothing down, only a £300 broker fee. For us personally, that's much better and is less than I pay for my Ibiza FR monthly on PCP! Needless to say when I can get out of that PCP, I will and I'll look for a lease deal.
SEAT quoted us over £300 for the same spec car on a PCP deal, crazy!

I know there are slightly better deals to be had on leases with the FR currently but this was in-stock and ready to be delivered with purely delivery mileage, I didn't want to be waiting the awful times that some are quoting for this engine.

Further to that, I love the fact that the car is delivered to my front door at a date and time of my choice and will be collected once the lease is over too

 

[j.owen]

Lease for me. Toying with the idea of purchasing car when lease is up in 12 months as car has been fantastic and ticks all the boxes for me. If the price is good I will buy outright. Anyone have experience of buying vwfs lease cars?

I enquired when I leased my previous car and they don't give you any favours, they'll just offer it for market rate so you'd be stupid to buy it off them


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[j.owen]

The cheapest way is to buy a 6 month old car and let the dealer take the first bit of depreciation.

+1


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[Upthere]

Lease my cars now. As for beating depreciation, I've easily done that with my current golf. It's all about getting a good deal at the right time.