twin--turbo Posted January 12, 2016 Posted January 12, 2016 There is no free lunch. PCP/Lease Purchase/HP/Whatever They are all designed to generate revenue for the finance company (And I spend a good proportion of my time doing work for one). To that end your the person generating that revenue for them. Personaly the only thing that I have that I don't fully own is my House. I would rather put money into owning more of that ( it's the roof over my head) than keeping up with the Joneses and having the latest flash car. Our MK2 Galaxy we have had for 7 years. It cost 2.5K at 5 years old and has used ~2.5k of general maintenance and MOT's in that time. That's £60 a month for a 7 Seater People Carrier. ( what would that have cost on lease?) My normal car is a 2002 S-Type 4.0 V8 Jag, cost £900 lovely car, unfortunatly I now need to replace the engine (bit unforunate) but sortable. Gave me 9 months service so £100 a month ( will be back in service after winter).. What would a new 4.0 V8 XF cost on lease?? And when I sell the jag I get some money. My car is presently a £300 Zetec Focus, tidy enough, does the job. Had it 2 months. £150 a month and dropping.. and it will still have some value at the end of the day. My colleauge wants to get a new car on lease/PCP to save money??? He's looking at paying £250 a month for a new focus. I change my cars all the time, I don't generaly loose more than £500 over a couple of years, they are generaly high power luxury saloons ( Jag, Merc, BMW, Etc) ... TT
garethEds Posted January 12, 2016 Author Posted January 12, 2016 Thanks everyone. Interesting reading. I'm just a snob that likes to drive new cars :-) GJE I was joking of course. I like my cars - but I don't drink, I don't smoke and I don't spend a lot of money on useless things (honest). Gareth
twin--turbo Posted January 12, 2016 Posted January 12, 2016 In just over 11 years I have spent in total £16023.50 on cars and maintenance (115,676 miles) That's £121 a month ( and will be dropping over time) to run 2 cars. Highlights include. Volvo 850 T5 Galaxy 2.3 Ghia Scorpio Cosworth V6 24V Mondeo 24V V6 Mercedes C230 Jaguar S-Type V6 BMW 530D Jaguar S-Type V8 Presently I think I have paid for assets of ~£2000 I expect that to lease similar to what we currently run would be £700 a month. over 11 years £92,400 with no assets. So as a financial descision I can't make finance stack up in any way shap or form by a seriously large margin. TT
SteveBentley Posted January 13, 2016 Posted January 13, 2016 I'm looking fairly seriously at the maths for leasing, it's looking quite tempting compared to the costs of maintaining an older car and the nasty shocks that seem to come with each MOT.
fiza Posted January 13, 2016 Posted January 13, 2016 I've just taken out a 2yr PCP on an all electric Renault Zoe. Replaced my 03 Corsa. Was a bargain @ £134 a month for 2 years. House charger and breakdown included. No tax of course, insurance same. Servicing should be minimal. Regenerative brakes so physical pads get used very little. No gears and very nippy. Costs about £1.50 to charge. 80 mile realistic range which should get better with warmer weather. Coming from banger class I was nervous as hell driving down country lanes in case I pranged it. Over that now 2 months in. This sounds interesting. I pay around £35 a week to fuel my diesel pug (just to get to work and back), plus road tax and the odd repair as its an 02 plate. So I pay more running my current car than i would getting a Renault Zoe on a PCP deal. Would be happy to hand it back after 2 years and get another one. As its electric I wouldn't have any additional fuel costs, just a bit more on my electric bill. I dont use my car for any other journeys as we use my wifes car for every other journey. Will be seriously looking into this.
Miscbrah Posted January 13, 2016 Posted January 13, 2016 Oh man I want a banger again. If and when I get a house and garage that's semi-retiring into an old age of lavish attention and tuning, and I'll get the DIY daily I always wanted: http://thumbs.ebaystatic.com/images/g/6IIAAOSwv-NWa~bv/s-l225.jpg <3
FragglePete Posted January 13, 2016 Posted January 13, 2016 This sounds interesting. I pay around £35 a week to fuel my diesel pug (just to get to work and back), plus road tax and the odd repair as its an 02 plate. So I pay more running my current car than i would getting a Renault Zoe on a PCP deal. Would be happy to hand it back after 2 years and get another one. As its electric I wouldn't have any additional fuel costs, just a bit more on my electric bill. I dont use my car for any other journeys as we use my wifes car for every other journey. Will be seriously looking into this. But, again, how much is the Battery Rental (check the small print) or is it included? If it is, then yes, great deal. Still waiting on @mark to respond on that one. Pete
Localtechie Posted January 13, 2016 Posted January 13, 2016 Very interested in that electric car deal I honestly can't remeber the last time I went more than 30 miles away so will be fine and insured on 2 other cars in case I need to go further afield!
MkII Posted January 14, 2016 Posted January 14, 2016 (edited) But, again, how much is the Battery Rental (check the small print) or is it included? If it is, then yes, great deal. Still waiting on @mark to respond on that one. Pete Apologies. That includes the battery, which is the lion share at £95 a month. So the car is £39 a month. No deposit but £99 admin fee. You get a free replacement if the battery loses capacity below 75%. An updated model if the capacity increases we're told. The included battery holds 26kw with just over 22kw available. I understand the Tesla runs exactly the same tech, just has more cells. which gives it it's 265 mile range. My place of work are offering 13amp charging. The school and potentially the sports centre next door are planning on installing a free charger. Unfortunately you don't get a granny cable in the deal (UK 13Amp plug to Type2) which would take a while to charge to full, but not an issue when you've got all day! They cost anything between £200 & £500 so hoping to find one 2nd hand. Edited January 14, 2016 by MkII 1
Localtechie Posted January 14, 2016 Posted January 14, 2016 Apologies. That includes the battery, which is the lion share at £95 a month. So the car is £39 a month. No deposit but £99 admin fee. You get a free replacement if the battery loses capacity below 75%. An updated model if the capacity increases we're told. The included battery holds 26kw with just over 22kw available. I understand the Tesla runs exactly the same tech, just has more cells. which gives it it's 265 mile range. My place of work are offering 13amp charging. The school and potentially the sports centre next door are planning on installing a free charger. Unfortunately you don't get a granny cable in the deal (UK 13Amp plug to Type2) which would take a while to charge to full, but not an issue when you've got all day! They cost anything between £200 & £500 so hoping to find one 2nd hand. Hi mark can you link me to this deal if still avaliable please? Thanks!
LeMarchand Posted January 14, 2016 Posted January 14, 2016 Hi mark can you link me to this deal if still avaliable please? Thanks! I'd be interested in this too.
FragglePete Posted January 14, 2016 Posted January 14, 2016 Apologies. That includes the battery, which is the lion share at £95 a month. So the car is £39 a month. No deposit but £99 admin fee. You get a free replacement if the battery loses capacity below 75%. An updated model if the capacity increases we're told. The included battery holds 26kw with just over 22kw available. I understand the Tesla runs exactly the same tech, just has more cells. which gives it it's 265 mile range. My place of work are offering 13amp charging. The school and potentially the sports centre next door are planning on installing a free charger. Unfortunately you don't get a granny cable in the deal (UK 13Amp plug to Type2) which would take a while to charge to full, but not an issue when you've got all day! They cost anything between £200 & £500 so hoping to find one 2nd hand. Cool! That's impressive. What's the mileage limit per year? Pete
Steve21 Posted January 14, 2016 Posted January 14, 2016 (edited) I was looking at the Zoe before as an option now I'm commuting so much, but sadfully long legs suck for choosing cars to drive DSG Renault - New and Used Renault Dealer in Morecambe - New and Used Renault Dealer in Barrow-In-Furness http://www.pentagon-group.co.uk/offers/new-car/new-renault-zoe-dynamique-special-offer (Most retailers have "similar" offers but depends whats local I guess) The deals still up there though Zoe Dynamique Nav £83 per month with £83 deposit (3,000 miles) £89 per month with £89 deposit (7,500 miles) £97 per month with £97 deposit (10,000 miles) Plus Battery Rental as below 3,000 Mile (750 miles Per Quarter) £55pm (30ppm excess) 7,500 Mile £80pm (7.5ppm excess) 10,000 Mile £95pm (7.5ppm excess) Quotes on higher mileage on request 100% Electric - Includes Free 7kW Wallbox 2yr PCP and 2yr Battery Rental Steve Edited January 14, 2016 by Steve21 1
MkII Posted January 14, 2016 Posted January 14, 2016 DSG are the cheapest quoted price at the moment. I bought from Greenhous in Shrewsbury who came down a fair bit from their fist price. My deal was for 10500 miles a year.
fiza Posted January 14, 2016 Posted January 14, 2016 The plug in car grant that these deals partly rely on is changing on 1st March. https://www.gov.uk/government/publications/plug-in-car-grant
zag Posted January 15, 2016 Posted January 15, 2016 The plug in car grant that these deals partly rely on is changing on 1st March. https://www.gov.uk/government/publications/plug-in-car-grant Fully electric cars should not be effected with any changes. The grant remains £5,000 EDIT: Actually looks like on march the 1st its going down to £4,500 for zero emission cars
SteveBentley Posted January 15, 2016 Posted January 15, 2016 What's the deal with MOT and Servicing on a 4 year lease? On a 3 year lease you'll be handing it back as it comes due for MOT, but does the company you're leasing from take care of the first MOT on a longer lease?
cpjitservices Posted January 15, 2016 Posted January 15, 2016 Ive just bought my self a galaxy (actually a VW with a blue oval badge) - used, 120,000k ... cant whack it for £500 spondoolies! Loads of room, just had an engine rebuild so should be good for another 100k I did look at HP but couldnt afford it unfortunately.
fiza Posted January 15, 2016 Posted January 15, 2016 Fully electric cars should not be effected with any changes. The grant remains £5,000 EDIT: Actually looks like on march the 1st its going down to £4,500 for zero emission cars Part of that guidance states : Electric vehicles must be able to travel a minimum of 70 miles between charges. So I assumed from that sentence that electric cars would be subject to the grant change.
cpjitservices Posted January 18, 2016 Posted January 18, 2016 In just over 11 years I have spent in total £16023.50 on cars and maintenance (115,676 miles) That's £121 a month ( and will be dropping over time) to run 2 cars. Highlights include. Volvo 850 T5 Galaxy 2.3 Ghia Scorpio Cosworth V6 24V Mondeo 24V V6 Mercedes C230 Jaguar S-Type V6 BMW 530D Jaguar S-Type V8 Presently I think I have paid for assets of ~£2000 I expect that to lease similar to what we currently run would be £700 a month. over 11 years £92,400 with no assets. So as a financial descision I can't make finance stack up in any way shap or form by a seriously large margin. TT Ive just binned my S Type (Proper Jag) for my Galaxy!!
denzal2k4 Posted January 18, 2016 Posted January 18, 2016 Volvo 850 T5 Had one of these not long ago,dented, shedlike, lowered, dump valve, mildly tuned 235-240bhp BEAST!
denzal2k4 Posted January 18, 2016 Posted January 18, 2016 (edited) So I've been looking into leasing for ages and finally took the plunge beginning of October ad went for a Nissan Leaf all electric, same stats as the Zoe above basically (but nicer and with better gadge IMHO) previous car was a 2011 1.6TDCI Seat Leon, here's how the figures worked out for me: Leon purchased £10,000 had for 2 years resold for £5800 (height of the VW scandal ) Fuel per month £175, 50 mile round trip daily So straight away fuel and depreciation cost me £8400 in 2 years Nissan Leaf (showroom car so loads of extras), Deposit £3500 Monthly lease £130 Charging £1 per night Total cost over 2 years £7350 Plus its got me almost £3k leftover from Seat sale, I'm straight into a shiny new car, minimal servicing cost, zero tax, free recovery if I run out of juice. Combined with free chargers at every motorway services means I could drive to Scotland for free! I've been converted to leasing and electric cars and look forward to getting the new 200 mile leaf in 2 years time. Edited January 18, 2016 by denzal2k4 1
zag Posted January 18, 2016 Posted January 18, 2016 (edited) Yeh I was going to say the new 200 mile electric Leaf is coming out at some point, but because you are on leasing thats not really a problem! Just upgrade in 2 years Sounds like an excellent deal. Also shows just how much cars depreciate from the showroom if you buy them on hire purchase or outright! Edited January 18, 2016 by zag 1
howartp Posted January 18, 2016 Posted January 18, 2016 I'm watching this thread with interest. I drive cars like Renault Kangoo / Peugeot Partner Tepee / Citroen Berlingo. Was seriously looking at the electric Kangoo 2 years ago, but it's van only - I do often carry passengers. I hadn't looked at any leasing though; was outright purchase with bank loan I looked at. Hoping electric versions of above might hit market by summer 2017 when this ones paid off. (Peugeot at moment)
twin--turbo Posted January 18, 2016 Posted January 18, 2016 Ive just bought my self a galaxy (actually a VW with a blue oval badge) - Actualy a combined effort, unfortunatly most of the bad bits came from VW/Seat. What year is it? Petrol or Oil Burner.
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