Any good A35 lease deals about?

[Deleted member 6183]

You are missing the point - buying for cash ( albeit funded from a separate loan) means you own something - renting gives you nothing but a dream and a poor credit rating

Rubbish, having well managed credit actually improves your credit rating.

 

[Tom911t63]

It’s your money- I will enjoy my early retirement

Knowing the government, by then the retirement age will have gone up to 80 !!

Live each day to the full I see it. May not even make it that far.

 

[Lennox]

Knowing the government, by then the retirement age will have gone up to 80 !!

Live each day to the full I see it. May not even make it that far.

Yip lost too many friends on the journey so far.

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[Tom911t63]

Yip lost too many friends on the journey so far.

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Same here, Enjoy each day. Rather do it now.

 

[SarahAnn200]

Another very controversial option no doubt is when you start driving, buy something cheap like a crappy metro and save while you are running that one and slightly upgrade the car each swap. Buy one a couple of months old rather than brand new and the only difference is a v5 that nobody sees but the dealer has taken the new car depreciation and you have a car that's paid for. I've also bought 3 new ones at the right price but they didn't feel any better or different to a pre reg so I'm not hung up on having zero owners on the v5. Two brand new cars have had more miles on (200/250 miles) compared to pre regs with 11 and 50 miles on. Just another route that means no debt and not as much depreciation

 

[Doodle]

Your example figured are flawed as the deal illustrated costs c£29k over 3 years with no residual value.

That's not what my example shows at all? The asset, and any residual value, is only relevant if you intend to keep the vehicle.

£30k purchase price, after 3 years it is worth £15k.

If you change the car at this point, you've spent £15k on depreciation for those 3 years of ownership.
Leasing the same car for 3 years costs you £12k. £3k more in your pocket.

 

[Deleted member 149005]

Knowing the government, by then the retirement age will have gone up to 80 !!

Live each day to the full I see it. May not even make it that far.

Ergo - that’s exactly why I retired early

 

[Deleted member 149005]

That's not what my example shows at all? The asset, and any residual value, is only relevant if you intend to keep the vehicle.

£30k purchase price, after 3 years it is worth £15k.

If you change the car at this point, you've spent £15k on depreciation for those 3 years of ownership.
Leasing the same car for 3 years costs you £12k. £3k more in your pocket.

I refer you to the screen shot posted by Lennox showing a total 3yr lease cost of £28.5k - not £12k

 

[Lennox]

Another very controversial option no doubt is when you start driving, buy something cheap like a crappy metro and save while you are running that one and slightly upgrade the car each swap. Buy one a couple of months old rather than brand new and the only difference is a v5 that nobody sees but the dealer has taken the new car depreciation and you have a car that's paid for. I've also bought 3 new ones at the right price but they didn't feel any better or different to a pre reg so I'm not hung up on having zero owners on the v5. Two brand new cars have had more miles on (200/250 miles) compared to pre regs with 11 and 50 miles on. Just another route that means no debt and not as much depreciation

It's not the prereg issue I just want the best deal and the latest tech. Often only to be had on new regs...

I'm a big kid and cars are simply a big toy I can use to get places. Most people see them at utility only, I don't.

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[Doodle]

I refer you to the screen shot posted by Lennox showing a total 3yr lease cost of £28.5k - not £12k

The list price for the new A45 in Lennox's screenshot is over £50k.

The figures I gave were based on those for my own leased Cupra.

 

[Lennox]

I refer you to the screen shot posted by Lennox showing a total 3yr lease cost of £28.5k - not £12k

The A35 is closer to the £12k (£14400). Again hence I went for that!!!!! [emoji1787][emoji23][emoji1787][emoji23]

The car was £39,800 list (premium pack plus metallic Plus delivery) and my local dealer was not giving discount on them as there was a waiting list apparently (BS). So anything less than £25,400 at end of 3 years and 30k I'm quids in. Time will tell.

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[SarahAnn200]

It's not the prereg issue I just want the best deal and the latest tech. Often only to be had on new regs...

I'm a big kid and cars are simply a big toy I can use to get places. Most people see them at utility only, I don't.

Sent from my SM-N9600 using Tapatalk

My c43 is the new 385bhp, lots of tech and was less than your a35. List price £54k, bought for £37k.
My c43 is a nicer place to be than my partner's a35.
You are happy and I'm happy, that's all that matters. Just different ways of doing it

 

[Lennox]

My c43 is the new 385bhp, lots of tech and was less than your a35. List price £54k, bought for £37k.
My c43 is a nicer place to be than my partner's a35.
You are happy and I'm happy, that's all that matters. Just different ways of doing it

Hilarious. Yes we are.

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[Bobby Dazzler]

But for those who’ll buy another new car in a few years time anyway, then that doesn’t really matter: had they bought the car in cash then the same value would have disappeared in depreciation during the same period of time.

but they still have an asset of some value at the end of 3 years

You’re looking at the situation as someone who doesn’t want a new car every 2/3/4 years, and so whether it’s lease, PCP, HP, or cash, it will look very expensive. For those who do want to regularly replace their car with a brand new one then the most important thing is how much it costs in the 2/3/4 year cycle, and buying cash isn’t always the cheapest. By definition they don’t want the car at the end of the agreement.

For others they would rather finance a car than tie up capital in a car which they don’t intend to keep, whether that be to own their home, invest in their business, invest in other ways, etc. To them, cars may be seen as a liability rather than an asset because the vast majority lose value quickly, and so would prefer to put their money into an investment, ie an appreciating asset.

Vive la difference.

 

[Deleted member 149005]

A fair reply but in my experience, very few, if any, people who “ rent” (lease, PCP, whatever) simply don’t have the capital to set aside to “invest” elsewhere. They are merely renting the dream.

Buying a new car every 2-3 years is the most expensive way to run a car...It makes much more economic sense to buy at 2-3 years old from a dealer with a 1-2 year warranty.

 

[Deleted member 37751]

A fair reply but in my experience, very few, if any, people who “ rent” (lease, PCP, whatever) simply don’t have the capital to set aside to “invest” elsewhere. They are merely renting the dream.

Buying a new car every 2-3 years is the most expensive way to run a car...It makes much more economic sense to buy at 2-3 years old from a dealer with a 1-2 year warranty.

Whilst I completely agree with all of your points the problem here is you’re comparing apples with pears - the #1 reason people lease/PCP etc cars is because they want a *new* car (or as new as their budget allows) and the financial ramifications are secondary at best.

Good example of what’s being discussed: I’m good friend with a jeweller who *always* leases a brand new car (C-Class or E-Class type cars) and will spend up to £350+ VAT per month on one. His business partner has the same allowance but uses that to buy slightly older but will own it after XYZ years. My friend quite happily justifies his leasing by saying “who’d want to own a depreciating asset?” which is true but what he won’t accept is that he’s effectively paying interest on a depreciating asset too!

I’ve learned over the years to keep my opinions to myself on matters of financing a car, those who know know and those who don’t are happy being blissfully unawares
and if they’re not hurting anyone then why let it bother me? Although, having said that, it takes all my willpower not to intervene when I hear of car salesmen giving financial advice that is patently wrong and very misleading...

 

[Deleted member 37751]

Rubbish, having well managed credit actually improves your credit rating.

Even being relatively *bad* with credit in a lot of cases can be better than having *no* credit history whatsoever!

 

[Deleted member 6183]

You’re looking at the situation as someone who doesn’t want a new car every 2/3/4 years, and so whether it’s lease, PCP, HP, or cash, it will look very expensive. For those who do want to regularly replace their car with a brand new one then the most important thing is how much it costs in the 2/3/4 year cycle, and buying cash isn’t always the cheapest. By definition they don’t want the car at the end of the agreement.

For others they would rather finance a car than tie up capital in a car which they don’t intend to keep, whether that be to own their home, invest in their business, invest in other ways, etc. To them, cars may be seen as a liability rather than an asset because the vast majority lose value quickly, and so would prefer to put their money into an investment, ie an appreciating asset.

Vive la difference.

To compare properly we should look at a new car cost over whatever timescale on lease/pcp and then look at a 3 year old car and cost up depreciation/finance costs/warranty cost/service plan/MOT on the same timescale and see which one comes out on top.

 

[bob6600]

Well, that escalated fast!

 

[Deleted member 149005]

Whilst I completely agree with all of your points the problem here is you’re comparing apples with pears - the #1 reason people lease/PCP etc cars is because they want a *new* car (or as new as their budget allows) and the financial ramifications are secondary at best.

Good example of what’s being discussed: I’m good friend with a jeweller who *always* leases a brand new car (C-Class or E-Class type cars) and will spend up to £350+ VAT per month on one. His business partner has the same allowance but uses that to buy slightly older but will own it after XYZ years. My friend quite happily justifies his leasing by saying “who’d want to own a depreciating asset?” which is true but what he won’t accept is that he’s effectively paying interest on a depreciating asset too!

I’ve learned over the years to keep my opinions to myself on matters of financing a car, those who know know and those who don’t are happy being blissfully unawares
and if they’re not hurting anyone then why let it bother me? Although, having said that, it takes all my willpower not to intervene when I hear of car salesmen giving financial advice that is patently wrong and very misleading...

Fair enough - but i was merely responding to the “financial sense” point with an alternate, more economically literate, course of action

Apart from property, over the longer term, and certain goods and chattels that are used (in daily life), i cant think of an asset that doesn't depreciate.



I guess I'm old school and prefer to own things, with the freedom that brings. It cannot be a coincidence that since the boom in financing cars and easy/instant credit, this country has experienced a massive financial crisis and is not far off another.

But we are all free to fund our lives how we choose.