Car leasing advice

STONEISLAND · 23-05-2008, 09:53

Does anyone here lease cars for personal use?

If so please help.

Does the price include insurance, tax and MOT? Do you really need the service agreement which is expensive on a new car?

Also can you braek contract after say 6 months?

Can anyone recommend the best company to use which is good value?

Is it value for money if you would like a new car or best just to get a loan?

TIA

haydnwalker · 23-05-2008, 10:49

I don't know much about car leasing but I do know that you can break the agreement at any time but the penalties are usually substantial (sometimes more than the actual monthly payment on the lease!)

I have looked into this for both business and personal use.

The main companies are automotive leasing (leaseplan.co.uk) masterlease and lex auto leasing that I know of (though there are probably many more).

It really depends on the mileage you drive and the kind of car you get on how cost-effective it is.

Read MoneySupermarket's Guide here ===> http://www.moneysupermarket.com/car-leasing-guide/1

STONEISLAND · 23-05-2008, 11:42

Quote:

Originally Posted by haydnwalker

I don't know much about car leasing but I do know that you can break the agreement at any time but the penalties are usually substantial (sometimes more than the actual monthly payment on the lease!)

I have looked into this for both business and personal use.

The main companies are automotive leasing (leaseplan.co.uk) masterlease and lex auto leasing that I know of (though there are probably many more).

It really depends on the mileage you drive and the kind of car you get on how cost-effective it is.

Read MoneySupermarket's Guide here ===> http://www.moneysupermarket.com/car-leasing-guide/1

Thanks for link I will have a read.

superbiatch · 23-05-2008, 12:04

I think it depends on what you agree, but when i've leased in the past for personal use its been up to me to purchase tax, MOT and service the vehicle. Beware of going over agreed mileage - you will get ripped off. If you think you might go over the allowance, plan for it well in advance.

STONEISLAND · 23-05-2008, 12:07

Quote:

Originally Posted by superbiatch

I think it depends on what you agree, but when i've leased in the past for personal use its been up to me to purchase tax, MOT and service the vehicle. Beware of going over agreed mileage - you will get ripped off. If you think you might go over the allowance, plan for it well in advance.

If thatÃ¢â‚¬â„¢s the case surely that would make it very costly??

superbiatch · 23-05-2008, 12:10

Quote:

Originally Posted by STONEISLAND

If that’s the case surely that would make it very costly??

I was quite lucky and ended up owing a few hundred quid. A friend however who didn't read the small print ended up owing more than three times what I did as it was 6p per mile over your agreed amount

Is there any reason in particular why you're considering leasing? I'm in the process of purchasing a new car (well used one) which is 2 years old so has depreciated as much as it should. I've looked at all the options, but it seems the best way for me.

**Paul M** · 23-05-2008, 12:11

I have leased my car for the last few years (from Vauxhall).

SOSAGES · 23-05-2008, 12:40

go for that crazy chinese woman - my brother has a very fancy car for Ã‚Â£500 a month and seems very happy.

http://www.lingscars.com/
i know the site makes it look like its run by a child but its a very good business model...

STONEISLAND · 23-05-2008, 12:42

Quote:

Originally Posted by Paul M

I have leased my car for the last few years (from Vauxhall).

Does it inclued insurance? How much?

**Paul M** · 23-05-2008, 13:10

No, you sort out your own insurance (I use Tesco).

I did not take any service option either as its not worth it on most modern cars (the car is only serviceed every two years). I had a brand new Meriva (Design) for < Ã‚Â£200 per month. Ive just extended it for another year (at reduced cost).

STONEISLAND · 23-05-2008, 13:14

Quote:

Originally Posted by Paul M

No, you sort out your own insurance (I use Tesco).

I did not take any service option either as its not worth it on most modern cars (the car is only serviceed every two years). I had a brand new Meriva (Design) for < Ã‚Â£200 per month. Ive just extended it for another year (at reduced cost).

See Ã‚Â£200 is very good but I would have thought that would inclued insurance fo that a month

Do you think its good value?

**Paul M** · 23-05-2008, 13:19

Yes, IMO its good value. I prefer to sort my own insyrance anyway.