Purchasing my Leon Cupra 290 after lease ends

[Peter Henderson]

I have been leasing a 2019 Cupra 290 (240 per month with 6 down) and the lease ends in March.
Recently leasing has become way more expensive so I'm thinking of buying the car. The lowest I can get them down to is £19350 with 16k miles. The 18k service is due soon (not sure what that costs yet) plus the tyres.
Is this a good price as I would probably sell within a couple of years when hopefully the latest Cupra will become more affordable.
Or do you think I would get a better deal on a lower mileage example?
I'm hoping that as the price I was quoted is less than others on the market that the depreciation won't be too bad (I'm thinking less than £3k per year)

 

[Tigerobe]

The market is in a state of flux at the moment, best thing Would be to do your research into the used market place, also take into consideration any extra charges that you may incur when you give the car back, such as kerbed wheels, paint damage etc.
From my personal experience a few years ago, lease companies are generally quite competitive when it comes to reselling the car back to the customer, however this may be a different story now.


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[Peter Henderson]

Thanks for the reply. I know what you mean about getting stung for repairs. My last Leon had a 1mm mark on the swage line that I got charged for even though the rest of the car was mint.
I have 3 more lease payments or I can buy now and stop the lease. I'm thinking the value will drop by a similar amount if I get another quote in March so that would give me time to see if a better deal comes along.

 

[BoomerBoom]

It's a perfect storm for both lease and the second hand market at the moment, everything is well overpriced. I'd normally be ordering my next lease for march now - but instead I'm holding on and waiting to see if it will all settle down, either extending my current lease or buying a shed to tide me over if it doesn't.

Last minute deals for stock cars are always the cheapest, but with the new cupra Leon not even released yet there won't be any bargains for awhile yet (unless the already available hybrid models are really unpopular). The best deals at the moment are all for pure electric cars, which shows how crazy the situation is.

 

[AndrewJB]

Question is can you walk into a SEAT dealer and buy the same car for less or more?

When my 2014 Cupra came off PCP, they offered it me for 11k, to buy the same car at a SEAT dealer it would of been 14k so I took it.

 

[Edp33]

I was about to create a post for this but spotted this one. I have a 19 plate cupra 290 dsg on lease, 3 month deposit, 2 year lease at £257.94 a month it was a cracking deal and amazing car i love it to bits. The lease is ending in July and due to working from home following the covid crisis last I am coming up to 8k miles. I dont expect my office to reopen until September and even then will only be in it fewer days, (2 days a week) it is just 15 miles away. So stuck on options, i want my monthly payment to be the same or less than im paying now, £257.94 so im a bit stuck on where to go next.
1) buy the car, but expect the offer price will be sky high as mileage is low, so any loan even over longer duration is going to be way over the current monthly amount.
2) return the car, and lease again but cant find any offers like this, so either pay extra or switch to another, vw golf r, m135 etc, cupra was the best performance/value lease couple of years back so doubt the other options would be cheaper.
3) return the car and buy an older model of cupra or similar performance/fun factor car,

 

[TheUkWizard]

Has anyone here been able to buy their lease car after? I was under the impression its difficult/not allowed to do so. Because it borders on tax avoidance. Unless mercedes just fed me some bullsh*t.

 

[andycupra]

Has anyone here been able to buy their lease car after? I was under the impression its difficult/not allowed to do so. Because it borders on tax avoidance. Unless mercedes just fed me some bullsh*t.

i smell something

 

[Peter Henderson]

You can definitely buy lease cars. For tax reasons you can only extend a lease once although I'm not sure why.
Manufacturers give the impression you cannot purchase your lease car to encourage you to use a PCP instead.
Note the price of Cupras has gone up along with many other cars this year so it may be more cost effective to lease a new car.
I was going to buy my Cupra but they extended the lease for £200/month so it was too cheap to turn down

 

[Peller]

I'm with VWFS and you can buy the car at the end of lease. You can get a quote to buy during the final 90 days of the lease via BCA.

I've also had a quote for a second lease extension. It's a cheap quote to keep for another year but have to outweigh additional costs.

For me to keep the current Cupra for another year I'd have to pay

1 Year Warranty
MOT
2 Tyres/possibly 4
Minor Service

These costs could near 1k and probably be more cost effective to take a new car.

No good deals on the new Cupra Leon atm which puts me in a sticky situation as new build date and current lease end are about the same!



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[andycupra]

more cost effective to take a new car? really? how much will a new lease be? how much up front?

 

[motty225]

more cost effective to take a new car? really? how much will a new lease be? how much up front?

Leasing prices aren't at there best currently, but back in 2016 I had a Cupra 290 black edition for 2k down £131 a month for 2 years, then in 2018 I had an audi S4 salon for 2k down for £280 a month for 3 years that included a few options like paint and virtual cockpit etc, now I have a 21 polestar 2 for £480 a month no deposit, including insurance, tyres servicing, wall charger etc
I've also had the option to buy at the end every time

 

[G_Morto]

The deals on the new Cupra Leon aren’t bad to be fair considering how mad the prices are in general just now.

 

[Lmbarrett83]

The deals on the new Cupra Leon aren’t bad to be fair considering how mad the prices are in general just now.

The current prices prevented me from getting the new Cupra. Found a cheaper deal for a 135i with servicing included. A little disappointed as I prefer the new cupra.

 

[JonnyG]

Not all lease companies will allow you to buy the car at the end of the lease. I tried and got the following response :-

" Thank you for contacting us.

Unfortunately we are unable to sell you the vehicle you currently hire from us as you have a Personal Contract Hire Agreement.

Selling a contract hire vehicle directly to our customer would breach various tax and VAT regulations. For example, contract hire is granted more favourable VAT treatment than a product which is designed to grant the option of customer purchase e.g. personal contract purchase"

 

[MattN]

Not all lease companies will allow you to buy the car at the end of the lease. I tried and got the following response :-

" Thank you for contacting us.

Unfortunately we are unable to sell you the vehicle you currently hire from us as you have a Personal Contract Hire Agreement.

Selling a contract hire vehicle directly to our customer would breach various tax and VAT regulations. For example, contract hire is granted more favourable VAT treatment than a product which is designed to grant the option of customer purchase e.g. personal contract purchase"

My lease was with Black Horse Finance and I, and anybody financially related to me such as my wife, was unable to purchase the car directly.

Therefore it was purchased by my Father initially and then I bought from him the following day. The downside being I am technically the third owner on the V5 but only I have 'owned' from new.

 

[Dannnnn]

That's a bargain seeing as WBAC offered me nearly 19k for my 2016 on 22k miles.