have thought about this a few times now and just wondered what peoples views are on leasing cars? and has anyone doing so at the moment.
also what is best trying to get it through a business lease or a personal lease?
anyone got any good links or companys they have used in the past
thanks for any help

 

Evo VIIII 260 can be had for Ł299pm

 

thats excactly what i was thinking
just thinking there must be LOTS of small print tho
also not sure wether to put it through a business or go private

 

I know a couple of people who have leased EVOs through their business but have no direct experience of private leasing apart from the horror stories in the motoring press.

 

ive heard horror stories aswell but some folk have said they wouldnt buy a car again
best prices ive saw infact for the evo were about Ł360 a month and about Ł299 for a scooby.
probably best to go business then.will have to read in to this alot more.
any chance you could find out who they leased through

 

I've been kinda looking into this for a wee while now, I've listed some of the sites that do PCP. Remember you never actually own the car and at the end of the term you either pay a balance to keep it or simply hand the keys back. Also almost all of them come with a mileage limit.


http://www.contracthireandleasing.co...tract-hire.asp

http://www.eborvehicleleasing.co.uk/offers.php

http://www.dsgauto.com/car_leasing/personal/pcp/

http://www.gmcleasing.co.uk/weekly/index.htm

http://www.onlineacs.co.uk/

http://www.freedomcontracts.com/


The Rac also do PCP (Personal Contract Plan)

Hope this helps

SMG

 

thanks for the links mate.il have a read over them all soon.
not really fussed about never owning the car as you would lose thousands buying new anyway.most of the milage limits are anything over 10k whih isnt to bad i suppose.thanks again tho

 

I'll find out over the weekend what companies used and deals my pals have. It deffo was Ł299pm for their EVO VIII 260's.

 

cheers mate.
much appriaciated

 

I do corporate leasing for fleets of 50 and above.

Most of the cheap deals advertised are non-maintenance, 10,000 miles (or less) per annum, and on spread rental payment profile like 6 in advance followed by 35 (ie you have the car for three years but pay 41 instalments.)

It's important to realise that anything with a balloon payment to give you ownership at the end is NOT a lease. It is HP by a multitude of names.

Second, A proper lease will have VAT on the rentals and while VAT registered businesses can recover some or all of the VAT on the rentals, private individuals can't so it is immediately 17.5% more expensive.

If your business is a Limited Company and you are a Director or employee, you will have to pay Benefit in Kind tax on the car, and your business pays NI on the value of the BiK. (Remember that the self-employed can be VAT registered and they have different BiK rules)

As for depreciation, in simple terms, the rental you pay is calculated as follows:
Depreciation (ie Cost to buy the car less expected Residual Value)
+ interest on the debt for the period
+ Maintenance charges (generally NOT included in the cheap rates mentioned above)
+ Road Fund for the period (watch out for future increases)
+ Lessors overhead costs
+ Lessors profit

If the leasing company get the residual wrong that is their problem when you hand the car back, but remember that you may have to pay excess mileage or refurbishment charges.

This is a long-winded way of saying that you shouldn't be seduced by a low front end cost or think you are buying anything - on a lease you are only paying for the use of the car. If you are happy with that and the numbers stack up for you, fine. If not, a more traditional funding method might be better.