Does anybody know anything about it?
I literally know nothing on the subject and wondering if anybody can shed some light on how it works exactly? Is it dodgy? What are the pros and cons etc
Cheers
Car Leasing?
Does anybody know anything about it?
I literally know nothing on the subject and wondering if anybody can shed some light on how it works exactly? Is it dodgy? What are the pros and cons etc
Cheers
In many ways it's very simple, you lease the car you want for a given term & number of miles. Pay a fixed amount every month for (say) 36 months. Maintenance and tax are often included. At the end of the term you hand back the keys. A guy I know is leading a new 518d for €700 per month for 36 months. The same car would cost €50k to buy.Originally Posted by Peter-E36
Does anybody know anything about it?
I literally know nothing on the subject and wondering if anybody can shed some light on how it works exactly? Is it dodgy? What are the pros and cons etc
Cheers
The pros are you have a new car that you don't need to worry about at a broadly similar total cost of ownership over the lease period . The downside is that you own nothing for all that you spend.
Why would you want to own a depreciating asset?
Lets face it, none of us ever hold on to a car for very long.
@Peter
Leasing, HP, PCP are all very different things.
Leasing is basically renting the car and all you have to do is put fuel in it and tax and insure it. Everything maintenance-wise is covered including tyres generally. Its more expensive than other financing options, you never own the car but it is the most hassle free way of motoring.
Jesus thats a serious wedge of dough for 3 years in a 518d
25k euro shock!!
I can see plenty do it i just never understood the logic
Some people just like the security of buying and owning.Why would you want to own a depreciating asset?
Lets face it, none of us ever hold on to a car for very long.
My problem with leasing means your stuck with the same car for 36 months. I've only owned 2 cars for that long.
Why not buy it when its 2 years old for 25k drive for 3 years and sell for 15kWhy would you want to own a depreciating asset?
Lets face it, none of us ever hold on to a car for very long.
@Peter
Leasing, HP, PCP are all very different things.
Leasing is basically renting the car and all you have to do is put fuel in it and tax and insure it. Everything maintenance-wise is covered including tyres generally. Its more expensive than other financing options, you never own the car but it is the most hassle free way of motoring.
Makes more sense then chucking 25k out the window on the motorway
It mainly works for business users who fall into a low BIK band due to the miles they drive, it wouldn't work for me at all sadly (unless I got a crew cab)Why not buy it when its 2 years old for 25k drive for 3 years and sell for 15kWhy would you want to own a depreciating asset?
Lets face it, none of us ever hold on to a car for very long.
@Peter
Leasing, HP, PCP are all very different things.
Leasing is basically renting the car and all you have to do is put fuel in it and tax and insure it. Everything maintenance-wise is covered including tyres generally. Its more expensive than other financing options, you never own the car but it is the most hassle free way of motoring.
Makes more sense then chucking 25k out the window on the motorway
There are also hidden fees such as if you go over the average mileage which they dictate then you pay in the region of €100 for every thousand km or part of, that you have exceeded.
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And if there are scrapes on the car or if the tyres are too bald etc
Hmmm... I love hassle free
Would make sense if it's an M4 or something if maintenance, tax and even tyres are included! But if a 518d is that much then I don't want to know how much something interesting would be
Good to know though!
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