Car Leasing

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Car Leasing

Postby DeanX on Mon Jan 27, 2014 8:00 pm

Well basically my car playing up again and ive been floating around the idea of leasing a car some time now, anyone else here done this and anyone have an opinions on good/bad points to doing it

any help appreciated :)
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Re: Car Leasing

Postby EWJ on Mon Jan 27, 2014 10:22 pm

I've my last two cars on hire purchase. Not sure if thats what you mean.. Basically shop around for the best rates and dont be afraid to walk away. Also! only lease what you can afford.. Don't go crazy.
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Re: Car Leasing

Postby Synaphix on Mon Jan 27, 2014 11:05 pm

When me and the ex were in Shropshire for awhile coming into the country we had one of these, they were good (I think we used Europcar or Enterprise from Birmingham airport) and convenient but make sure you do have the funds for them and additional charges that can be thrown at you - obviously something can be found better than their deals probably. As above just lease what you can afford, walk away and if its tempting look around to compare if it can be gotten cheaper.

I would also say, set yourself a budget you can live with, make a list of cars that you find worthwhile for you and your needs and then compare prices as best you can for those. Weigh the pros and cons against each other before making any lease. As a personal view on these things if you had two cars and one was a bit more expensive but you would live with the other choice then take the cheaper one to save yourself a bit unless money is not an issue.
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Re: Car Leasing

Postby Azzy on Fri Feb 07, 2014 6:14 pm

I've had my last 2 cars on this way of purchase.
I'd be careful on certain cars as if you get a car that does not retain it's value, after the agreed period, when you come to trade it back in for a new one or sell to pay the remaining debt, the car may be worse than that value.

I was fortunate with my first car that it was worth more earlier in the plan, my current car though, problems are with the car, not the plan.
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Re: Car Leasing

Postby Little_Devil on Thu Mar 13, 2014 9:03 am

Leasing is good if you are either self employed or run a business, which is what this type of arrangement is aimed at. This is because the majority of the lease can be written off against tax if you are self employed, and all of it if its a business. The difference being (with self employed) a proportion of the time it is considered to be for private use, with a business you can say it is solely for business purposes. This of course gets added into both your profit/loss and cash flow balance sheets as a fixed monthly amount out. This makes it easier for a business in many ways, since there is no depreciation value to add in.

The other fact with lease hold is that you never actually own the item, so a service charge is usually added into the price, to cover servicing costs.

Whenever you consider something like this, you need to take everything into account and look carefully at the contract, Some companies will fob you off by calling a contract lease hold, when it is nothing more than a HP contract in disguise,or as Azzy has said above a PCP.

The majority of lease hold vehicles have a term time, at the end of which you give the vehicle back and get another new vehicle.
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