Leasing Rather Than Buying.

[keego]

Does anyone know of a leasing company that will deal with private customers as apposed to business users?, with the money I lose on each trade in I'm thinking it may be better to lease than buy. Does anyone know the pro's & cons of leasing or do you think I'm better off buying?

 

[securespark]

I typed "lease to private customers" into Google, and the top hit was this one:

http://www.fleetdirectory.co.uk/finance_lease/

Don't know if that helps...

Personally (this sounds good coming from someone who bought his last car brand new!!) I think the best way is to buy, rather than lease BUT to buy nearly new. You save a fortune and get the best years out of the car with minimum depreciation. The first year is crippling: I know. I worked it out for my Octavia TDI....

They say buy at 2 yo and sell at 5 yo.

That way you get the tail end of warranty, pay a fraction of the new price, and sell when it's still worth a decent figure, thereby minimising your losses all round.

If you can live with an 03 plate instead of 05, that's the best way!

The other way to save heaps is to buy a new Rover. The 75 is a cracking motor, but you get no warranty. However, with the cash you save, you can buy in an aftermarket warranty. Make sure you get a very healthy amount hacked off the list, to account for the fact that no-one will want it when you come to sell!!

Examples of nearly new prices:

Vectra 1.8 Club new 15K, 53= 6260

Mondeo TDCi Zetec new 15600, 53=7610

Passat TDi SE new 18,400, 53=9550

The only thing is that the new models may be slightly improved over the old ones ie better equipment etc...

 

[ninebob]

I could also point you here: http://www.diynot.com/forums/viewtopic.php?t=14822

 

[AdamW]

If you can stand the petrol costs, if going for the Rover/MG consider the V8 version: the engine is made by Ford and is also used in the Land/Range Rovers. Therefore there are plenty of places who can expertly service the engine, even when the MG/Rover garages start to become scarce.

When I bought my car, more than 3 years ago, PCP was all the rage. There were also plenty of leasing companies: have you actually looked for them?

 

[chambsesf]

If you can stand the petrol costs, if going for the Rover/MG consider the V8 version: the engine is made by Ford and is also used in the Land/Range Rovers.

Are you sure?? I thought the MG ZT260 engine was the 4.6 litre lump used in the Mustang, whereas the new Range Rover Sport uses the 4.2 Jaguar engine (with or without supercharger), and the old(er) Range Rover uses the 4.4 litre BMW V8 (but not for much longer......)

However, I may be wrong.

 

[chambsesf]

I have been having a similar debate recently. My company gives me the option of a company car or cash alternative. Do I therefore:

1. Take the car
2. Take the cash and (a) buy something comparable, save the BIK taxation and have an asset at the end of the day or (b) take the cash and go down a PCP/PCH/Personal lease deal.

I decided to take the company car option - what swung it for me was the fact that I didn't want to take on ~£20k of HP debt, didn't want to be messing about with insurance quotes every year and didn't want the cost and hassle of maintenance. As for a personal lease - no way I can compete on price with a bulk arrangement and therefore my cash would not stretch to the same models I could take from the company.

There's a lot to be said for being 'given' a car and all you need to do is stick fuel in it - somebody else worries about servicing, tyres, insurance, road tax, depreciation etc.

Doubtless there are pro's and con's that could be argued all day......

 

[AdamW]

Are you sure?? I thought the MG ZT260 engine was the 4.6 litre lump used in the Mustang, whereas the new Range Rover Sport uses the 4.2 Jaguar engine (with or without supercharger), and the old(er) Range Rover uses the 4.4 litre BMW V8 (but not for much longer......)

However, I may be wrong.

That's just what I heard. Made sense in the pub, when you remember that Ford own Land Rover AND Jaguar, and that most other motor groups share engines (Vauxhall engines are shared with various other GM cars, VW engines are used in other VAG cars, Ford engines are used in Mazdas)

I stand corrected, but I would think you could get parts for the Ford V8 engine at Ford, Land Rover and Jaguar garages although possibly on order.

 

[AdamW]

Doubtless there are pro's and con's that could be argued all day......

Yup, people who don't get company cars are forever saying "but it isn't actually HIS car" behind your back!

Free car, nice.

 

[chambsesf]

Are you sure?? I thought the MG ZT260 engine was the 4.6 litre lump used in the Mustang, whereas the new Range Rover Sport uses the 4.2 Jaguar engine (with or without supercharger), and the old(er) Range Rover uses the 4.4 litre BMW V8 (but not for much longer......)

However, I may be wrong.

That's just what I heard. Made sense in the pub, when you remember that Ford own Land Rover AND Jaguar, and that most other motor groups share engines (Vauxhall engines are shared with various other GM cars, VW engines are used in other VAG cars, Ford engines are used in Mazdas)

I stand corrected, but I would think you could get parts for the Ford V8 engine at Ford, Land Rover and Jaguar garages although possibly on order.

Agreed, but you have to bear in mind that when the current model Range Rover was launched, they were under ownership of BMW hence why they have the same 4.4 V8 and 3.0 TD engines as found in the X5. The next model, however, will follow the route of the RR Sport, and use Jaguar engines (4.2 V8 and 2.7 TD as used in the S-Type and XJ8).

 

[chambsesf]

Doubtless there are pro's and con's that could be argued all day......

Yup, people who don't get company cars are forever saying "but it isn't actually HIS car" behind your back!

Free car, nice.

I can live with that - reasonable compromise when the people saying it isn't MY car appreciate that it is bought, depreciated, insured, taxed and maintained at nil cost to me (apart from BIK which is a bit of a bum). Can't complain though - end up driving a brand new motor every 3 years/60k miles.

 

[AdamW]

Definitely. I'm not sure how this whole company car tax works, but if I was offered a free car, even though I wouldn't be the owner, I would take it!

As to the Ford/BMW V8... I bet BMW parts aren't as cheap as Ford parts!!!

Just looking at the performance figures: the current Range Rover 4.2S has a 396bhp engine and does 0-60 in 7.1 seconds, 130mph flat-out. The RR Sport takes 7.2s and does 140mph with a 385bhp 4.2 supercharged engine.

The original 1970 RR 3.5 V8, with 135bhp (a third of the current range topper) did 0-60 in 15.2 seconds, and topped 95mph.

Just shows how much car performance has improved!

 

[chambsesf]

Definitely. I'm not sure how this whole company car tax works, but if I was offered a free car, even though I wouldn't be the owner, I would take it!

In my (bad) experience, you get the car and your company advises the Inland Revenue of the benefit in kind value. Then you hear nothing for about 2 years, followed by a letter from the revenue asking you to pay £6k within the next 14 days. S**t
Thereafter, they adjust your tax code and, in my case, pay about £200 per month in tax for the car over and above normal 40% tax based on income.

Despite all that, still a great perk.

By the way Adam, how do you find driving in Italy??

 

[AdamW]

Depends on the area. Around Rome can be a nightmare, but down towards Naples it isn't too bad.

It's brilliant because you get to do all the things you don't do in the UK, like overtake for the sake of it, speed horrendously, cut people up, and no-one cares because it is expected of you! Don't take your own car though, minor bumps are very common so a pristine British car will end up ruined.

BTW I've never actually lived in Italy, I put that flag on a year ago and still haven't got round to changing my profile
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