Latest lease deals

[pjs]

Looks like MB still have some cars to shift, just been emailed a flyer with these deals.

This looks the best value, there are also some c class sport saloosn and coupes at similar price.


2012 New Mercedes E220 CDi Executive SE Estate Automatic

+ Satellite navigation 50
+ 17" chrome alloy wheels
+ Sports suspension
+ Heated seats - LED running lights
+ Climate & cruise control
+ Leather upholstery
+ 3 years - 10,000 miles per annum
+ 6 x 35 - £309.99 + Vat per month
+ Business & Personal contract hire
+ Call 0845 2020158
+ Part exchange now available on all lease offers.

(Mods - hope this is seen as helpful - I am in no way associated with this company other than leasing my car from them).If it breaks the rules then edit the phone number out

 

[tylerdurden]

I'm a noob to PCP/ lease.

My understanding is this is basically a 3y rental for £310 per month + VAT= £372.

Over 3 years thats £13392.

Now suppose you bought the car with cash (assume 10% discount on RRP) and its worth 55% less at 3y and 30k. How much would that have cost? My guess is about the same?

For me I have never gone for a PCP deal because of my perceived loss of car at the end of the deal. Owning outright means you still have a car and don't have to sell if you don't want to.

 

[JohnDeere8530]

always better to own outright in my book. you have something at the end and if you buy the right model without too many toys and you sell right you will beat any pcp/lease etc. after all they have to make a profit and cover themselves for worse case scenerios

 

[wemorgan]

The lease debate has been done to death.....but I've a few questions:

Does 6 x 35 actually mean 6 + 35 ie. deposit of 6*(£309.99+VAT) ?

Are those options actually what most buyers want? Entry level diesel engine for economy yet it has large alloys. Also it's an estate, so I imagine a family car but it has sports suspension making it uncomfortable.

I imagine it's just me not knowing the new car market, but those options seem to contradict one another IMHO and might be why there are deals on those cars.

 

[Dieselman]

The lease debate has been done to death.....but I've a few questions:

Does 6 x 35 actually mean 6 + 35 ie. deposit of 6*(£309.99+VAT) ?

Are those options actually what most buyers want? Entry level diesel engine for economy yet it has large alloys. Also it's an estate, so I imagine a family car but it has sports suspension making it uncomfortable.

I imagine it's just me not knowing the new car market, but those options seem to contradict one another IMHO and might be why there are deals on those cars.

People do want that sort of spec, all show, no go... sport models sell/lease/rent well.

6+35 is exactly that, a deposit of 6 payments, then 35 further payments.

 

[st4]

People do want that sort of spec, all show, no go... sport models sell/lease/rent well.

6+35 is exactly that, a deposit of 6 payments, then 35 further payments.

You're right and if buying again it would only be sport or AG spec I'd look at even with a car with peashooter exhausts.

Even the base engine cars aren't slow. The bigger engined 6 pots are proper quick and bigger wheels and firmer suspension make them less wallowy

 

[Harrythedog]

Is there an option to purchase the car after the term ends, has anyone done this?

 

[RichardM]

Yes normally there is but I've been disappointed in the past with the offer price, it's been well above trade/auction price. In the end the cars go to auction anyway but I hear they want to discourage this so they sell you a new lease rather than you buy the current car from them.

 

[A210AMG]

The latest engines are hardly slow?

17" alloys on a S212 estate will NOT look big so doubt a hard ride? I would not think they do 16".

If you don't mind the spec you are given then lease deals can work well, you know up front the costs of the car for 2 or 3 years.

No doubt almost another model will be out in 3 years or at least a facelift or two which means if you buy one outright that will have and affect. Leasing it means it doesn't matter what happens you pay the same per month and then walk away. In 3 years you get the next deal on lease.

For some this works well, no need to tie up a large amount of money in a car yet drive a luxury car. Warranty for the three years you own it and also (I think tax) is included.

 

[@MARK]

Is there an option to purchase the car after the term ends, has anyone done this?

On my last car I did a 24 month lease. At the end of 2 years, similar cars were selling for £25k ish, my final value was £18k

Even if I hadn't loved the car to bits, I would still have bought it at that price and sold it on. As it was, I ran it for another 2 years.

I suppose the question will be, will the car be worth the final lease value (or more) at the end of the term or if the deal is right, does it really matter.

Having said all of that, the car mentioned does look to be a very odd spec.

EDIT

Sorry. I just spotted it was the Executive which means airport Taxi spec.

 

[Dieselman]

YIn the end the cars go to auction anyway but I hear they want to discourage this so they sell you a new lease rather than you buy the current car from them.

That's correct, it's what leasing is all about, controlling your next purchase as well as the current one.

 

[trapperjohn]

But you have to like what you lease and it has to be reliable. Not always the case for some brands eh.

 

[Dieselman]

But you have to like what you lease and it has to be reliable. Not always the case for some brands eh.

I take it you mean Mercedes?

 

[Dryce]

I'm a noob to PCP/ lease.

My understanding is this is basically a 3y rental for £310 per month + VAT= £372.

Over 3 years thats £13392.

6+35 = 41 payments - that's £15252

For me I have never gone for a PCP deal because of my perceived loss of car at the end of the deal. Owning outright means you still have a car and don't have to sell if you don't want to.

As long as people understand what they're doing they can decide on the value of the deal to them. If you like a new car every 3 years then it's a way of setting up the cost with relatively little up front.

Personally - like you - I prefer to own.

 

[hawk20]

6+35 = 41 payments - that's £15252

Personally - like you - I prefer to own.

Exactly! And people say these deals are cheap as chips. They really aren't. You pay the full depreciation over the period you own the car plus interest on capital tied up. Suit a lot of people but dirt cheap they are not.

 

[@MARK]

Exactly! And people say these deals are cheap as chips. They really aren't. You pay the full depreciation over the period you own the car plus interest on capital tied up. Suit a lot of people but dirt cheap they are not.

It's relative. Compared to buying a brand new car on straight HP, it is a lot cheaper.

But to a lot of people (myself included), my car has always been a monthly payment. At the same time, for a long while I was driving up to 40,000 miles a year on business so changing cars quite often and often selling on for not a lot due to the high mileage. As a non DIY person, having a 4 year old car with 160,000 miles on the clock simply isn't an option so I was forced to change every 18 months to 2 years.

I never made money when I came to sold the car and often thought renting a car would be an easier way just to fix the cost and also make the whole renewing and selling somebody elses problem.

Lease isn't quite the same as renting but I am able to stick a brand new £40k car on the road with no miles on the clock (rather than a £20k on the road that already has 20,000 miles on the clock) with a full 3 years worth of warranty

I don't have to worry about how much it is worth at the end of the term because I can just hand it back and get another one.

My monthly payment today is pretty much the same as I was paying on cars 6 years ago so it works for me.

 

[JohnDeere8530]

the cheapest way of owning any given car of a given age is always to buy well outright ie brokers etc, run it for how long you want and sell well on s/h market. This way you are not contributing to the profit margins of brokers, paying for their fancy ads and other needless fixed costs they have

I do understand that not everyone is able to do this, so leasing does have its place for sure, you can get hold of a decent car for little money up front.

However as said earlier it is not the cheapest route, be under no illusion it is

 

[@MARK]

However as said earlier it is not the cheapest route, be under no illusion it is

Depends on your definition of cheap.

Just like my mortgage, I don't focus on the total paid back (because my mortgage is a big scary number) but instead I focus on how much per month I have to pay out.

After all, over the last 10 years, my employer has paid me well over £1 million but broke that fantastic number down into monthly chunks.

So as my money comes in monthly so I budget for it to go out monthly and in the case of a car, buying one once and once only just isn't reality so why buy outright (and pay outright) for something that I am going to have to replace in a few years anyway.

 

[JohnDeere8530]

Depends on your definition of cheap.

Just like my mortgage, I don't focus on the total paid back (because my mortgage is a big scary number) but instead I focus on how much per month I have to pay out.

After all, over the last 10 years, my employer has paid me well over £1 million but broke that fantastic number down into monthly chunks.

So as my money comes in monthly so I budget for it to go out monthly and in the case of a car, buying one once and once only just isn't reality so why buy outright (and pay outright) for something that I am going to have to replace in a few years anyway.

I personally dont live from month to month and try and look at the total cost of ownership of any said product of value such as a car. I will pay for something in the most cost effective way. If finance was at 0% then I would go this route as this would be cheaper than self financing, however that said this is not too common. Generally buying outright assuming you dont need to borrow is the cheapest route.

The only caveat is if you have the means to pay for a car but you can get a better return on the money to be invested as a lump sum elsewhere than the extra costs associated with leasing, then this would obviously be the way to go. However in these times unfortunately these opportunities are normally few and far inbetween !

 

[Red C220]

The tag monkey is excelling himself today.