Car Leasing

[Aztecs27]

Not always easy when you are on a PCP.
Not only will you have the final payment to consider, but also possibly 12 months of payments too (if you tried to trade in after 24 months of a 3 year deal for instance).

Good to know. To be honest, I'll leave it to my Dad and the Finance manager at Lexus to sort anything like that out with us. They've mentioned that they will always keep an eye and sort us out if there's a better deal to be had and sort out all of the finer details, but I don't know whether this is a friends and family benefit or something they do for all customers.

I'm gutted I didn't arrange to pop down your way to try an X-Trail before we got the Lexus, as I really like the look of it! Might give you a shout in 3 years though mate?

 

[NWJocko]

Good to know. To be honest, I'll leave it to my Dad and the Finance manager at Lexus to sort anything like that out with us. They've mentioned that they will always keep an eye and sort us out if there's a better deal to be had and sort out all of the finer details, but I don't know whether this is a friends and family benefit or something they do for all customers.

I'm gutted I didn't arrange to pop down your way to try an X-Trail before we got the Lexus, as I really like the look of it! Might give you a shout in 3 years though mate?

They all do it if it's beneficial (i.e. they aren't losing out and you are tied into a new deal that is longer), Honda have done it with me a couple of times, not that we've changed yet right enough but that's more to do with the Mrs being indecisive!

I quite like the look of the new X Trail aswell, the Mrs wants a new Discovery

 

[vkurup]

The residual value is set by the finance company. They are the ones that are guaranteeing the value subject to mileage, condition etc.
The final figure can be manipulated "down" by the salesman to get to a figure that is acceptable to the customer (they might (might)) want to pay more a month and not have so much at the end, but on a true PCP the end figure cannot be inflated.
You normally have 3 options at the end of the agreement.
1) Pay the end figure and keep the car
2) Trade the car in, and anything you get over and above the optional final payment would go as desposit on your new car.
3) Hand the car in and walk away with nothing further to pay apart from excess mileage charges or for damage over and above what could be construed as fair wear and tear.
You could of course sell the car and keep anything over and above the final payment still owing, but trying to sell a 3 year old car privately is always a bit of a gamble.

Tnx Smiffy.. much appreciated.

 

[Foxholer]

...
I quite like the look of the new X Trail aswell, the Mrs wants a new Discovery

Certainly if you go this way (or maybe even with similar), be very careful near supermarket bollards! Mate of mine just changed to a Discovery (from an AMG 6.3 Merc wagon!!) and 'encountered' this issue! Repair guys immediately predicted how it was done and stated that it was the most common prang - with new door normally required! I've seen 2 more with tell-tale scrapes since!

 

[karlcole]

hows everyone getting on with the leasing? Any regrets? im seriosuly condiering a kia sportage if anyones got on advice on what those are like?

 

[vkurup]

hows everyone getting on with the leasing? Any regrets? im seriosuly condiering a kia sportage if anyones got on advice on what those are like?

Looked at the Sportage.. It has all the mod-cons.. everything good about whats under the hood. What we did not fancy was what is above it. The new look did not work for us (unless you go for the first edition), the interiors has more space than my garage and you could fit all of Rooter's kid and he would have space to have some more Did not like the quality of the interiors. The deals on offer were pretty good. However, at the end went for a Volvo XC60.. no regrets

 

[karlcole]

Looked at the Sportage.. It has all the mod-cons.. everything good about whats under the hood. What we did not fancy was what is above it. The new look did not work for us (unless you go for the first edition), the interiors has more space than my garage and you could fit all of Rooter's kid and he would have space to have some more Did not like the quality of the interiors. The deals on offer were pretty good. However, at the end went for a Volvo XC60.. no regrets

i know how you feel i hate the new shape ideally want one of the olders ones but obviously having issues trying to find one on lease! good to hear about all the storage though! Thanks for the heads up though!

 

[karlcole]

Which company did you use mate?

 

[stokie_93]

Ended up buying a car in the end 2nd hand. A good friends uni housemate moved over to Florida to work in golf over there so ended up selling his car.

Got a mint Vauxhall Corsa with 8k on the clock for a very good price so will do me for the next few years fingers crossed.

 

[kerber0s1983]

I looked at the Sportage - but the boot is very small for the size of car - couldn't get my bag and motocaddy in the boot without taking clubs out and/or folding seats down, as i leave everything in the boot whilst away with work.

I ended up leasing a Nissan X Trail through nationwide vehicle contracts. Had it 7 months and can't fault the car or service from them - plus they were the cheapest for the car i was after.

Although i'm going to end up paying a bit in excessive mileage at the end of the lease, as i changed jobs and my mileage has gone up quite a bit.

 

[vkurup]

Which company did you use mate?

ended up PCP rather than leasing... worked that way due to a deal via the office..

 

[karlcole]

ended up PCP rather than leasing... worked that way due to a deal via the office..

Whats the major difference between the two pal?

 

[kerber0s1983]

PCP you generally pay a bigger deposit and then have an option to pay an agreed value at the end to own the car, or you can still walk away.

Leasing is generally a lot lowe deposit and there is no option at the end to buy, just hand the keys back.

Both of them have excess mileage charges for going over the agreed mileage amount
https://www.carwow.co.uk/guides/financing/car-leasing-explained

 

[vkurup]

PCP you generally pay a bigger deposit and then have an option to pay an agreed value at the end to own the car, or you can still walk away.

Leasing is generally a lot lowe deposit and there is no option at the end to buy, just hand the keys back.

Both of them have excess mileage charges for going over the agreed mileage amount
https://www.carwow.co.uk/guides/financing/car-leasing-explained

Also at a high level, the Leasing quotes generally dont show that you need to pay VAT on it.. so dont forget to add 20% on whatever price is shown.

 

[kerber0s1983]

Also at a high level, the Leasing quotes generally dont show that you need to pay VAT on it.. so dont forget to add 20% on whatever price is shown.

a lot of the leasing sites now ask whether it is personal or business use and if personal is selected, the VAT is included in the price - Nationwide certainly do this.

 

[Lord Tyrion]

Good to know. To be honest, I'll leave it to my Dad and the Finance manager at Lexus to sort anything like that out with us. They've mentioned that they will always keep an eye and sort us out if there's a better deal to be had and sort out all of the finer details, but I don't know whether this is a friends and family benefit or something they do for all customers.

I'm gutted I didn't arrange to pop down your way to try an X-Trail before we got the Lexus, as I really like the look of it! Might give you a shout in 3 years though mate?

How is the NX getting on, still enjoying it?

What is the mpg average you are getting after this time?

 

[Aztecs27]

How is the NX getting on, still enjoying it?

What is the mpg average you are getting after this time?

Yes mate it's great, cheers. We've covered nearly 6500k and it's just so comfortable. We had a horrendous journey from Gloucester to the Lakes, up the M6, which took over 6 hours...got out the other end feeling fresh as a daisy. Normally I'd get out and barely be able to move because my back had seized up. It's not a drivers car by any means, but it's effortlessly comfortable and convenient for our needs.

Golf clubs fit in the back comfortably and now I'm used to the hybrid style of driving to try and get the most out of it, I'm averaging 40mpg since resetting it back on about 1000 miles...Which I'm relatively happy with to be honest. Not amazing, I'll admit and always nice to get better efficiency but for a 'big' car - it could be a lot worse. The average between fill ups can fluctuate depending on what type of driving we do a lot of, but averaging 40 is good for me.

 

[Lord Tyrion]

Thanks for the write up. I have an XC60 now, nowhere near a drivers car, so your description appeals to me. No BMW for me thank you, far too hard. 40mpg is better than I have heard elsewhere so it is good to know that is achievable.

I'm going to start the process of looking in a couple of months time and I suspect I'll be getting a spreadsheet going to work out the financial side of things. I may be beating myself up about losing 5mpg when I save the same amount elsewhere. If the overall costs are similar then I need to get over the psychological cost of the mpg figure.

 

[Aztecs27]

Thanks for the write up. I have an XC60 now, nowhere near a drivers car, so your description appeals to me. No BMW for me thank you, far too hard. 40mpg is better than I have heard elsewhere so it is good to know that is achievable.

I'm going to start the process of looking in a couple of months time and I suspect I'll be getting a spreadsheet going to work out the financial side of things. I may be beating myself up about losing 5mpg when I save the same amount elsewhere. If the overall costs are similar then I need to get over the psychological cost of the mpg figure.

If it helps, we were getting nearly 50mpg with our Mondeo and I can't say we've noticed the difference. As the NX is adaptive 4x4 too, it means that (if the user reports I've read are accurate) the tyres should last longer than 15k which is what the Mondeo was doing, plus they're slightly cheaper too.

I can't stress how comfortable it is to drive and how enjoyable sitting in the drivers seat is. It's a proper luxury cockpit. The ride is firm, but not bone jarring, like some reviews say...but it's never not comfortable. We don't even have the "top level" memory seats, which have adjustable lumbar support. I was worried about this, but I needn't have worried - I've had zero problems with my back whilst driving in 4 months - all my other cars I've owned have given me issues.

With the MPG - I would say I drive "normally" - not ragging it around in Sport mode (because there's no point?), but not driving like a nun the whole time either. It's all about adapting your driving style to get the most from the car...My dad has given me a few tips, which help (ie. sticking it in sport mode when going up hill as you get 20% more throttle response, so it's actually more economical to use sport mode than just keeping it in ECO mode to struggle up the hill. It actually makes it pretty fun to try and get the most out of the electric mode (as sad as that may sound!).

 

[vkurup]

Thanks for the write up. I have an XC60 now, nowhere near a drivers car, so your description appeals to me. No BMW for me thank you, far too hard. 40mpg is better than I have heard elsewhere so it is good to know that is achievable.

I'm going to start the process of looking in a couple of months time and I suspect I'll be getting a spreadsheet going to work out the financial side of things. I may be beating myself up about losing 5mpg when I save the same amount elsewhere. If the overall costs are similar then I need to get over the psychological cost of the mpg figure.

Out of curiosity.. what mgp do you get on the XC60. I have a new one and it has done about 4K.. the mpg is very fickle. If i do the usual 30 mile round trip, it gives 30-35mpg avg, but at the same time, i have take in on 400 mile round trip of mostly moterway and the I can get home with more than a quarter tank left!!. I think early days, but wanted to know other's experience