Gareth T
Member
Registered: 14th Feb 06
Location: newcastle
User status: Offline
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Alot of people seem to be buying brand new and going down the lease scheme these days. keeping a car for 2-3 years and trading it in for a new one, it seems to be the best way (talking to people who have done it)
is there many membrs on hete who do this? No MOT yo pay for, servicing and tax included in your monthly payment.
Seems to be the way forward.
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Graeme
Premium Member
Registered: 26th Jul 04
Location: Northampton
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Well obviously you wouldn't pay for a mot if you traded it in with in the 3 years would you?
If you looks into it. It's pretty expensive imo. You pay all that money out and have nothing to show for it.
You shouldn't really be having to replace anything bar tyres in the first year apart from normal servicing.
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AndyCorsaSport
Member
Registered: 12th Feb 06
Location: Horsforth, West Yorkshire
User status: Offline
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You aren't "trading" it in, you have nothing to trade. You hand it back and take out lease on another car.
Waste of money really, will never own anything. Better off getting a 3year finance deal.
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Corsa_Sport21
Member
Registered: 13th Apr 08
Location: Leven, Fife. Drives : 205 GTi
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Better off just buying something you can afford to pay for outright.
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
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i've bought 3 new cars.
i get them cheaper with my discount and any problems get fixed for free.
obviously you pay for the privilege and you lose money, but the same would apply if you bought a used car and had to pay to get problems fixed.
also, the scheme im on, you can trade in or sell privately. i sold my focus private and got 2k back after paying the finance off, which i wouldnt have seen if i had traded in.
[Edited on 04-03-2012 by Ben G]
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Corsa_Sport21
Member
Registered: 13th Apr 08
Location: Leven, Fife. Drives : 205 GTi
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Its not really "buying" them though if you havn't paid for it.
You don't really "own" it if you have to give it back in 3 years or whatever.
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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I think it's a fine plan if you're happy with the monthly payments - it's hassle free motoring and you get to drive around in something a bit shiney with a nice smell inside...
You can definately get more car for your money with a standard loan and a 3-5year old car - but then you get the potential pitfalls of MOT failures and major servicing.
I've never bought new, but my last two cars have been one year old at time of buying. Most dealers will offer similar packages on their demo cars (as my last two have been) as you would if buying brand new, so this is what I've done to get more spec for my money.
If/When I get bored of the CTR, I'm hoping to be in a position to spend another ~£15k but this time on a car which is 3-5 years old so I can get a MUCH higher spec vehicle with the worry of it falling apart or costing a fortune come MOT time. My Missus should have a daily driver by then for me to fall back on, and get back to the world of "I hope it starts" motoring 
I see the "save up and only buy what you can afford" brigade have already shown up, but I really don't see the harm in paying for something monthly. You pay your interest, you're rewarded with something shiny. If you feel it's worth it to not worry about MOT's and shit like that - then go for it.
Lotus Elise 111R
Impreza WRX STi
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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Some lease schemes (PCP?) give you the option to buy the car after three years anyway - so with the right deal there's nothing stopping you from having a car at the end of it if you really love the car.
Lotus Elise 111R
Impreza WRX STi
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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the only buy what you can afford brigade are the same people who will live at home with their mums forever because they dont have 200k in cash to buy a house.
stupid argument, you can afford it, you're just paying monthly instead of one big hit.
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Jambo
Member
Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
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If you lease it you can't afford it[/corsasport]
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Corsa_Sport21
Member
Registered: 13th Apr 08
Location: Leven, Fife. Drives : 205 GTi
User status: Offline
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quote:
Originally posted by Ben G
the only buy what you can afford brigade are the same people who will live at home with their mums forever because they dont have 200k in cash to buy a house.
stupid argument, you can afford it, you're just paying monthly instead of one big hit.
Im in that brigade, but havn't lived at home for about 6 years. Don't have 200k cash either.
Are you now saying that not only did you lease you're cars, but you paid for you're own house with cash??
If so then WOW, slightly different approach to you're normal " look how much i earn" posts that you're famed for.
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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no mate, i'm saying you haven't bought a house because you have a mortgage, which in your case means you shouldn't have mortgaged a house because you can't afford it.
also not sure what you're on about with the ''how much i earn'' shit either. i don't own a tag heuer watch or have a portfolio manager and i get average pay for people in the private sector so i think you are just talking shit to provoke some sort of argument.
[Edited on 04-03-2012 by Ben G]
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Corsa_Sport21
Member
Registered: 13th Apr 08
Location: Leven, Fife. Drives : 205 GTi
User status: Offline
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I don't have a mortgage.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Merc C220 CDI Sport on order
Full maintenance contract (tyres, service, Tax for 3yrs), 3+35, £400 a month.
Halfers with the Mrs & a old soft top M3 for fun.
Deffo the way to go IMO!!
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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My justification for this over buying is :
1. I dont have £32000 to pay cash.
2. To buy the same car on straight finance would be a much higher deposit and monthly payments, then i'd need to sell it on, maintain it myself etc.
3. This will cost us about 2.5k each per year to have a brand new fully maintained car.
4. In 3yrs time i'll be happy to hand it back & get a nice new one.
5. This way we can have one nice new reliable car (to share but mainly hers) & I get to satisfy my urges with something old/enjoyable/unreliable etc etc & can chop & change it as I see fit.
[Edited on 05-03-2012 by Colin]
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richc
Member
Registered: 24th Mar 07
Location: Ilkeston
User status: Offline
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I think i will lease my next car. Ive done finance, loan and outright all all sorts of value cars and i believe lease is the way forward if you like 'new'. People say you are much better off finance or the like, but the depreciation of the thing is a joke when new. It might have cost you 7 grand in them 2-3 years in lost value and then you still have to try and punt it on in the end. With lease you have paid for your time (just like depreciation), yet you just hand it back and job done. You can go and get your self another one or go and buy a banger as you arent tied down.
*also a car could depreciate alot more than expected (due to demand, oil prices etc) so you could loose more than planned. Obviously, your lease price will remain the same.
[Edited on 05-03-2012 by richc]
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pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline
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I don't like the idea of paying for something and not actually owning it (renting the car?) which is why I bought mine outright...
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richc
Member
Registered: 24th Mar 07
Location: Ilkeston
User status: Offline
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quote:
Originally posted by pow
I don't like the idea of paying for something and not actually owning it (renting the car?) which is why I bought mine outright...
So if you sell your car for X in 2/3 years time, and it works out you have lost more in depreciation than the monthly payments on lease, you would be happy just because you like the idea of 'owning' it? 
'Cut your nose off to spite your face' springs to mind.
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adiohead
Member
Registered: 28th Sep 01
User status: Offline
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I never used to get leasing, but I do now.
It all depends on whether you want to fall in love with your car and keep it forever (like I did with my Zetec-S), or if you just want something new every few years without the hassle of actually owning it.
[Edited on 05-03-2012 by adiohead]
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Jambo
Member
Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
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quote:
Originally posted by richc
quote:
Originally posted by pow
I don't like the idea of paying for something and not actually owning it (renting the car?) which is why I bought mine outright...
So if you sell your car for X in 2/3 years time, and it works out you have lost more in depreciation than the monthly payments on lease, you would be happy just because you like the idea of 'owning' it?
'Cut your nose off to spite your face' springs to mind.
No mate, if you don't own it you can't afford it.
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pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline
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quote:
Originally posted by richc
quote:
Originally posted by pow
I don't like the idea of paying for something and not actually owning it (renting the car?) which is why I bought mine outright...
So if you sell your car for X in 2/3 years time, and it works out you have lost more in depreciation than the monthly payments on lease, you would be happy just because you like the idea of 'owning' it?
'Cut your nose off to spite your face' springs to mind.
You could argue for and against all day long but I did my maths and this is better for me.
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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Here we go 
I used to be totally against leasing, but these days, I can see why it appeals to some people.
I still wouldn't do it personally, but if you commit to it, you can keep having a brand new car every 3 years and although you wouldn't have anything to show, it's hassle free.
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James
Member
Registered: 1st Jun 02
Location: Surrey
User status: Offline
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Carrera 4S is £1200 a month
The big disadvantage for me is that £1200 a month probably isn't dissimilar to the finance options for a brand new C4S, but I would never buy a brand new car, so for that reason, I'm out.
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adiohead
Member
Registered: 28th Sep 01
User status: Offline
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quote:
Originally posted by Colin
Full maintenance contract (tyres, service, Tax for 3yrs), 3+35, £400 a month.
With this, does a man come round and put the new disc in the window before you wake up?
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Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
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Once my missus is working I fully intend to get her something nice, new and tidy on a PCP or lease type deal. I'll settle my finance on the CTR and either mod the hell out of it or buy something really old, really fast and really stupid with cash so if/when it breaks I can just drive around in our boring leased audi or whatever
Each to their own, but leasing definately has its place.
Lotus Elise 111R
Impreza WRX STi
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