Leasing

[chriscls]

I was thinking about buying an 07 Mas QP. Now I may want to lease a new Ghibli.

Never leased, any advice is greatly apprecriated on the pros, cons and just the general surprises. Some great offers both business and personal. Personal packages are avg £725 PCM with an 3/38 structure.

 

[regbuser]

or just under 600 > Maserati Ghibli Saloon contract hire | £591.37 per month | Applied Lease | ID: 30676414

 

[stevehg]

Just check that the excess mileage fees are reasonable, and that the end of term return provisions for wear & tear follow industry standards, or again are reasonable.

Lastly, be aware that when you add optional extras you often end up effectively paying for these in full over the lease term, so for example - adding £10K of extras on a £60K car will have a much greater impact on monthly lease cost than the 1/6 proportional addition.

 

[stevehg]

or just under 600 > Maserati Ghibli Saloon contract hire | £591.37 per month | Applied Lease | ID: 30676414

Except when you factor in initial payment that works out to ~£813 a month over 24 months, whereas OP's lease deal is ~£782 a month over 38 months

 

[k187]

Just remember on a business lease you'll pay benefit in kind tax. This is calculated based on emissions and your current tax band. You can find calculators online for it.

As an example I have a c220 on business lease, and I own my own business. The OTR price is just shy of 40k. Because I'm in the 40% tax band I would need to take out 66k from the business and pay 26k in tax to purchase that car. Also depreciation over 3 years could be as high as 45% (potentially).

However on contract hire the company would pay 45% of the value of the car over 3 years (roughly speaking) and claim back half the vat. I would then pay about 7k in benefit in kind (tax). Overall the saving is about 15k if you do the sums.

The downside is you would be limited on mileage, and also if for some reason you didn't do many miles the car would be worth a lot more after 3 years than you're actually given back for it.

On personal lease unless you really want to change cars every 3 years, you're paying interest for no reason. It could still make sense if 1) you don't have the money or would pay more income tax than the APR on the lease to get it or 2) you get a great deal with the car discounted to a level you wouldn't get without the lease applied, in which case the effective apr becomes low enough to be worth it.

 

[chriscls]

Would anyone know if the leasing companies UK wide exclude Northern Ireland customers/

 

[bpsorrel]

You could try the company I use - their quotes are very competitive. Don't know about N.Ireland, but they say free nationwide delivery... give 'em a call!

Maserati Ghibli Saloon V6d 4dr Auto | Business Car Leasing | Select Contracts

 

[chriscls]

You could try the company I use - their quotes are very competitive. Don't know about N.Ireland, but they say free nationwide delivery... give 'em a call!

Maserati Ghibli Saloon V6d 4dr Auto | Business Car Leasing | Select Contracts

Thanks, how does this work? Lets say I want a Mas, does the company contact my local dealership or one within their preset network? Would the likes of paint swirls be classed as "wear and tear" ?

 

[mat8n]

Can anyone shed some light where leasing is concerned?
I am employed as an employee for my own business.
Could I lease a car? The rates seem really good to me?
The car would only do low miles, maybe 5k a year if that, and mainly personal use with maybe a small amount of commuting?
Is this possible?

 

[Meldrew2]

The rates seem really good to me?

Often the rates advertised need VAT to be added - so the extra 20% tax makes the rates more similar to PCP prices.

There is usually a clause like "business users only" - this is because retail prices advertised are supposed to include VAT.

 

[Bobby Dazzler]

Thanks, how does this work? Lets say I want a Mas, does the company contact my local dealership or one within their preset network? Would the likes of paint swirls be classed as "wear and tear" ?

I ordered a white car to avoid the risk of swirl marks at the end of the contract ...seriously!! It was going to be black until the point I signed the final form!!

 

[mat8n]

I have my own vat registered business. I know I can claim vat and such like(I have an accountant).
I pay corporation tax on my business, the wage I draw is negligible.
I'm just after the basic pointers.

I don't understand leasing. Never been in a situation where it was viable before.
My own car is personal, my wife has a car. I'm saving cash to buy a Bentley gtc but I'm thinking about leasing a RR evoque for the Mrs(as a business car)?

 

[chriscls]

I have my own vat registered business. I know I can claim vat and such like(I have an accountant).
I pay corporation tax on my business, the wage I draw is negligible.
I'm just after the basic pointers.

I don't understand leasing. Never been in a situation where it was viable before.
My own car is personal, my wife has a car. I'm saving cash to buy a Bentley gtc but I'm thinking about leasing a RR evoque for the Mrs(as a business car)?

Your posts are not particularly as helpful as the others. I am a novice to leasing and simply wish to hear from others on the forum.

I ordered a white car to avoid the risk of swirl marks at the end of the contract ...seriously!! It was going to be black until the point I signed the final form!!

Good call Bobby, I have shortlisted blue, black and white. I feel white is probably worth the dirtiness over swirls.

 

[Bobby Dazzler]

On personal lease unless you really want to change cars every 3 years, you're paying interest for no reason. It could still make sense if 1) you don't have the money or would pay more income tax than the APR on the lease to get it or 2) you get a great deal with the car discounted to a level you wouldn't get without the lease applied, in which case the effective apr becomes low enough to be worth it.

Here's a good example of #2 described by k187 above. This 520d M-Sport is such a good deal I might get one just so I don't miss out!!

Claris Vehicle Solutions Ltd

 

[chriscls]

Here's a good example of #2 described by k187 above. This 520d M-Sport is such a good deal I might get one just so I don't miss out!!

Claris Vehicle Solutions Ltd

Good deal but warranted with no maintenance and 8k allowance. I would personally do 12-15k

 

[Bobby Dazzler]

Good deal but warranted with no maintenance and 8k allowance. I would personally do 12-15k

You can ask for quotes with increased mileage. The price doesn't jump as much as you'd think.

 

[chriscls]

You can ask for quotes with increased mileage. The price doesn't jump as much as you'd think.

Yea, the miles is not the issue, I would "need" maintenance cover on a Mas as you would expect.

 

[Bobby Dazzler]

Yea, the miles is not the issue, I would "need" maintenance cover on a Mas as you would expect.

Full maintenance (including tyres) seemed to be fixed price (£20 per month) on the cars I enquired about, none were Masers but similar engine and value.

 

[chriscls]

Full maintenance (including tyres) seemed to be fixed price (£20 per month) on the cars I enquired about, none were Masers but similar engine and value.

Yea I am giving this some serious though. Do the cars come from a local dealership though or within the lender's own network?

 

[Bobby Dazzler]

No idea, waiting to hear which dealer will supply mine. I would be surprised if it's a local dealer, and if it is then I suspect it will be a coinkydink.