blonde poker forum
Welcome, Guest. Please login or register.
July 24, 2025, 04:34:34 AM

Login with username, password and session length
Search:     Advanced search
2262399 Posts in 66606 Topics by 16991 Members
Latest Member: nolankerwin
* Home Help Arcade Search Calendar Guidelines Login Register
+  blonde poker forum
|-+  Community Forums
| |-+  The Lounge
| | |-+  Car leasing.
0 Members and 1 Guest are viewing this topic. « previous next »
Pages: [1] Go Down Print
Author Topic: Car leasing.  (Read 1281 times)
Mohican
Hero Member
*****
Offline Offline

Posts: 1196



View Profile WWW
« on: August 25, 2015, 11:51:14 PM »

In lay-mans terms, what are the options open to me? I understand you can pay a fixed monthly term and at the end of the deal pay off the rest,hand the car back or take a new deal. Any explanation of the pro's and cons appreciated.
Logged

Cymru am byth
Longines
Gamesmaster
Hero Member
*****
Offline Offline

Posts: 3795


View Profile
« Reply #1 on: August 26, 2015, 09:35:12 AM »

I'm no expert but what you've described is a PCP. A lease is more like hiring a car - you pay an up front amount, a monthly amount and then hand the car back. No option to buy, no 'equity' to take into the next car.

Pros are a new car, fixed outlay and it can be cheaper than a PCP or the depreciation if you had bought outright. Cons are you have nothing to show for it at the end and you'll need to find the up front amount for the next car.

I'm due to pick up a new car next month, first time I've leased. £380 a month all in (£2k down and £333 a month) for a £45k car seemed like a good deal. With dealer incentives etc. etc. the BMW dealer was still looking for £550+ a month for the same car on PCP.

Reading the last 20/30 pages of this thread is helpful:
http://www.pistonheads.com/gassing/topic.asp?h=0&f=23&t=1346121&mid=0&i=9160&nmt=Best+lease+car+deals+available%3F&mid=0

Logged
DaveShoelace
Hero Member
*****
Offline Offline

Posts: 9165



View Profile WWW
« Reply #2 on: August 26, 2015, 07:20:38 PM »

In lay-mans terms, what are the options open to me? I understand you can pay a fixed monthly term and at the end of the deal pay off the rest,hand the car back or take a new deal. Any explanation of the pro's and cons appreciated.


As Longines said, this is PCP which you are describing.

I did PCP for the first time last year and I love it. I know nothing about cars and my wife uses it more than I do for long commutes, our last car was starting to worry me it would break down on her. PCP worked out perfect for us because we get a brand new car with a warranty, so we have very little anxiety about it breaking down etc. I worked out that the amount I would generally pay every three years for a new car and repairs was the same/less than what I am paying with PCP, so for a non-car savvy type I love it.

Plus the whole building up equity thing means hopefully I'll always have new/ish cars, which is a nice thought.

If you know your stuff with cars, IMO you are probably better off getting finance and looking for a good deal. But if you are a 36 year old bloke who still describes them as 'red ones' then I'd recommend it.
Logged
Pages: [1] Go Up Print 
« previous next »
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.21 | SMF © 2015, Simple Machines Valid XHTML 1.0! Valid CSS!
Page created in 0.131 seconds with 20 queries.