Car leasing

[Carlos]

Jeebus

Look at that Dealer Contribution figure!

You can save over £9000 on list without haggling, including the interest charges. They must really want to shift those

You keep the dealer/BMW contribution if you settle after the cooling off period. Finance it for a month and pay a months interest if you don't like finance.

You'd expect that to be worth £30k after 2 years. Seems a great deal for a new 7 series.

[Jobbo]

D still rather buy a previous shape 7-series to avoid the new grille, but it seems a reasonable deal if you particularly want a new one.

Not a lease of course.

ETA: this may not be the case because the amount of credit is more than £25k, but usually you can voluntarily terminate a finance agreement and return the car after half the payments have been made. If that does apply, that point comes after about 12 months due to the size of the dealer contribution. Effectively you could treat this as a flexible lease for anything between a year and 4 years, simply handing the car back at any time after the first year with no further payments (other than damage and excess mileage).

[Sundayjumper]

Has it got a really measly mileage allowance ? It's the kind of car you'd normally buy for long distances, and that usually ruins any lease deal.

[Mito Man]

Says 8000 miles per annum - good for London if you have a chauffeur, have it idling for half a day at a time

I’m not a fan of leases, was speaking to a friend who said he spent about £50k on them over close to 10 years
No fancy cars either, just base spec saloons!

[Foz]

That new grille

[Jobbo]

Says 8000 miles per annum - good for London if you have a chauffeur, have it idling for half a day at a time

I’m not a fan of leases, was speaking to a friend who said he spent about £50k on them over close to 10 years
No fancy cars either, just base spec saloons!

So the same as £5k per year depreciation and zero interest - doesn’t sound madly expensive depending on what exactly he’s been running.

[Mito Man]

Yes I’d guess he’s driven £130,000 worth of new cars over 10 years for a much more reasonable £50,000.
I am a bit weird though as I’d actually want to own something I guess.

[Rich B]

Yes I’d guess he’s driven £130,000 worth of new cars over 10 years for a much more reasonable £50,000.

...and never had a car out of manufacturers warranty or (presumably) received a single unforeseen bill.

Cars cost money, very few ways of reliably avoiding that fact.

[Sundayjumper]

Cars cost money, very few ways of reliably avoiding that fact.

Mito seems to have it nailed.

[Carlos]

Yes I’d guess he’s driven £130,000 worth of new cars over 10 years for a much more reasonable £50,000.

...and never had a car out of manufacturers warranty or (presumably) received a single unforeseen bill.

Cars cost money, very few ways of reliably avoiding that fact.

Or paid for road tax, roadside recovery and tyres (or very few).

I've bought cars for CASH, finance and leased them and you never know the lowest cost route until you move it on. I don't get why people insist one way or the other is DIW.

[Rich B]

Cars cost money, very few ways of reliably avoiding that fact.

Mito seems to have it nailed.

[Mito Man]

Just thinking it’s a big chunk of money whatever way you look at it. Many 2 car households with both cars leased, extrapolate it over say a 30 year period and it’s the price of a house

[Carlos]

Just thinking it’s a big chunk of money whatever way you look at it. Many 2 car households with both cars leased, extrapolate it over say a 30 year period and it’s the price of a house

If we pick one car from your household, say the 6 series. How much has that cost in depreciation, finance costs, servicing and maintenance etc ?

[Rich B]

Just thinking it’s a big chunk of money whatever way you look at it. Many 2 car households with both cars leased, extrapolate it over say a 30 year period and it’s the price of a house

Grown ups do indeed pay money for things like cars, houses and many other things.

[V8Granite]

For 4 cars over 6 years with roughly 25000 miles a year overall.

7350 in tax
6600 in insurance
4500 in tyres
£9000 in servicing (my own labour bar the ML in its first 2 years)
Non service items is hard to quantify, probably between 5 and 10k

This is for quality parts, more servicing than recommended, lots of use etc but that’s still nearly 30k before you buy the cars or put fuel in. The biggest issue is not knowing what will come up, I could need a new valve block for the gearbox when I start it in the morning, that’s 1500.

Is leasing a cheap way to run a car, definitely not, is it a known cost with virtually no hiccups along the way, definitely and if I didn’t do my own maintenance I think at least 1 of our cars would be leased.

Dave!

[simon_g]

I added up the total cost of our four leases (all over 2 years each) and with total cost spread out it's been between £4600pa (M135i) to £3200pa (egolf now). Average across all of them is about £3800pa.

The last everyday car I owned outright (Fabia vRS) depreciated £6800 in 2 years, or £3400pa - and that wasn't new, it was a 6 month old ex-demo that had already lost a big chunk of value. True, I could have just kept it much longer and the depreciation would have levelled off but those engines were a ticking time bomb and I was a bit bored of it by then anyway.

There's always cheaper ways to do motoring but it's been a really affordable way to be in the cars I wanted at the time, no surprise costs, no weird stains from previous owners, and I'm usually thinking about what to have next after a year or so anyway. I keep expecting the cheap leasing train to derail and I'll have to actually buy something but it seems to still be going strong if what you want and the deals are close enough.

[Mito Man]

Just thinking it’s a big chunk of money whatever way you look at it. Many 2 car households with both cars leased, extrapolate it over say a 30 year period and it’s the price of a house

If we pick one car from your household, say the 6 series. How much has that cost in depreciation, finance costs, servicing and maintenance etc ?

Well that was a £55k car new so it’s lost over £50k in depreciation alone. I wouldn’t buy one new though.

If I had to spend £50k ish on cars over 10 years I’d go for a low mileage 2 year old Alfa Giulia 2.0 280ps for £20k keep it for 5 years, then sell and buy something else similar in price.

Actually just browsing used cars and I see that the quadroglio is now £37,000. Fuck it, I’d pick that and spend the rest on maintaining it.

[Carlos]

Sounds like a big chunk of money to me.

[dinny_g]

It all depends on what you want really. Car of your dreams, go ahead and buy it. A mode of transport you need, like an estate or a 6 seater, or you fancy now, like a Coupe or 2 seater etc then lease. At least IMO.

I ski a lot but have never bought skis. Each trip I choose what I fancy and rent - it’s always bang up to date gear. I own rather expensive boots but always rent the skis.

Buy or Lease is always down to what you do. Leasing your dream car for 3 years is Not the right call, even if it’s cheaper, if you have to give it back at the end and can’t get another one.

[Rich B]

Just thinking it’s a big chunk of money whatever way you look at it. Many 2 car households with both cars leased, extrapolate it over say a 30 year period and it’s the price of a house

If we pick one car from your household, say the 6 series. How much has that cost in depreciation, finance costs, servicing and maintenance etc ?

Well that was a £55k car new so it’s lost over £50k in depreciation alone. I wouldn’t buy one new though.

If I had to spend £50k ish on cars over 10 years I’d go for a low mileage 2 year old Alfa Giulia 2.0 280ps for £20k keep it for 5 years, then sell and buy something else similar in price.

Actually just browsing used cars and I see that the quadroglio is now £37,000. Fuck it, I’d pick that and spend the rest on maintaining it.

actual people don't often have all the cash sat waiting at the beginning of these 10 year scenarios...