Anybody lease cars?
08-04-2005, 08:40 PM
#1
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Anybody lease cars?
I can have a car on lease from work but dont know if its a good deal or not, i really want a new car as an everyday drive cause i'm sick of driving a shitheap, i've got a quickish car to tinker and mess so was thinking about a car form work. I work for Toyota and can only have a corrolla or avensis (dont want, old mans car) they've just face lifted the corrolla and the new T sport looks quite good, the engines a bit similar to the CTR but obviously not as good and just a bit shy on power. I can get one of these for £195 a month and all i have to pay for is insurance and petrol, is this a good deal or can i find summat similar privately? theres no lump sum or owt just rag it to death and give it back when your done so the £195 a month is dead money in effect.
If i where to buy my own car i'd only have about 2500-3k to spend and i doubt very much i'd get a nearly new decentish daily runner for that so the T sports kind of appealing in that sense, dunno wether to bother or not
If i where to buy my own car i'd only have about 2500-3k to spend and i doubt very much i'd get a nearly new decentish daily runner for that so the T sports kind of appealing in that sense, dunno wether to bother or not
08-04-2005, 09:07 PM
#3
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Cheers for the link Gareth, but looking at it 99% of em cost more a month than what i can get from work plus you have to pay for tyres and servicing which i wont do on a toyota, seems like i'm getting a reasonable deal from work, if i didnt have a pissing loan repayment every month then i'd consider summat a bit more expensive 
08-04-2005, 09:14 PM
#4
Take the Toyota mate. If you lease a car in your own name the repayments are plus VAT and seeing as you won't be VAT registered you can't claim it back. Equally, with PCP's or leases there are return conditions with regards to mileage and wear and tear. In both cases there is a balloon payment due and the return conditions can slaughter that if the car isn't within the terms. If it's a PCP the balloon is down to you to find and if a lease this can be adjusted dependant upon the return conditions.
Check the return condition etc on the Toyota as well - believe m,e it won't be a case of cane the arse off it and hand it back, I can assure you...........
Check the return condition etc on the Toyota as well - believe m,e it won't be a case of cane the arse off it and hand it back, I can assure you...........
08-04-2005, 09:15 PM
#5
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I lease the Roadster in my Siggy from work, but I only got it cos they did a special promotion with free insurance in the package.
Ordinarily I (or any of my friends and family) can lease any Smart, Merc, or Chrysler through my Company all for a pretty small monthly amount (eg: C Class Coupe = £170 per month, Smart ForFour 1.1i = £85 per month...... SLK230 = £240 per month) which all sound like great figures but when you have to insure them on top its not so great.
Im guessing your Company lease scheme operates pretty much in the same way that ours does, all the cars will be on gauranteed buy-back agreements, you have a limit on the number of months and the number of miles. They will pay the Tax but you have to pay for Servicing, tyres, damage etc.....
Most people I work with lease a Merc on the scheme and they all say its great as an 'interim' car, but if you're looking long term ie a couple of years its just dead money down the pan.
Considering you have to pay insurance on top of your rental I would say it would work out quite pricey leasing thru Toyota, when compared to buying a run around reasonably cheap and insuring TPFT.
Its always an option worth looking into tho, see what it'll cost you to insure and work out your true monthly cost over the number of months you lease over.
Be very aware of your Return Conditions too............... now this im an expert on as its what I do for a living
All buy-back agreements have Return Conditions, these usually state a minimum tyre depth, limited depth of dents and number in total, no abrasions to paint work that have penetrated thru to metal, w/screen free from abrasions, interior in a valeted condition and everything in working order, again no burns, rips or scratches blah blah blah...... Read the small print very carefully, you could think you got a bargain deal until you go to hand it back and you get hit for £1000s rectification work, even if you thought it was returned in a reasonable condition. Also excess mileage, check what the PPM rate is if you go over the limited amount of miles as again if the rate is set high you could end up with a big bill at the end.
Rahhhh, I sound like im at work now so im gonna shut up lol
Ordinarily I (or any of my friends and family) can lease any Smart, Merc, or Chrysler through my Company all for a pretty small monthly amount (eg: C Class Coupe = £170 per month, Smart ForFour 1.1i = £85 per month...... SLK230 = £240 per month) which all sound like great figures but when you have to insure them on top its not so great.
Im guessing your Company lease scheme operates pretty much in the same way that ours does, all the cars will be on gauranteed buy-back agreements, you have a limit on the number of months and the number of miles. They will pay the Tax but you have to pay for Servicing, tyres, damage etc.....
Most people I work with lease a Merc on the scheme and they all say its great as an 'interim' car, but if you're looking long term ie a couple of years its just dead money down the pan.
Considering you have to pay insurance on top of your rental I would say it would work out quite pricey leasing thru Toyota, when compared to buying a run around reasonably cheap and insuring TPFT.
Its always an option worth looking into tho, see what it'll cost you to insure and work out your true monthly cost over the number of months you lease over.
Be very aware of your Return Conditions too............... now this im an expert on as its what I do for a living
All buy-back agreements have Return Conditions, these usually state a minimum tyre depth, limited depth of dents and number in total, no abrasions to paint work that have penetrated thru to metal, w/screen free from abrasions, interior in a valeted condition and everything in working order, again no burns, rips or scratches blah blah blah...... Read the small print very carefully, you could think you got a bargain deal until you go to hand it back and you get hit for £1000s rectification work, even if you thought it was returned in a reasonable condition. Also excess mileage, check what the PPM rate is if you go over the limited amount of miles as again if the rate is set high you could end up with a big bill at the end.
Rahhhh, I sound like im at work now so im gonna shut up
lol
08-04-2005, 09:38 PM
#6
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I know most of the in's and out's, i dont pay for servicing, tyres or tax all i pay is the fixed monthly payment and to insure it, theres no limited mileage but if the mileage goes over halfway between its second and third service in its 2 years (2 year schemes) then i have to pay for the 3rd service, but the chances of me doing that are nil. so compared to your deal with the mercs i'm a bit better off with no servicing or maintenance, there is a damage thing but its only cosmetics and interior stuff. I know i would be better in a cheap run around with TPFT thats what i'm doing now!!!! i'm just sick to death of doing the weekly run in a pile of cack, and a slow pile of cack to boot! its ragging time, 8500rpm here we come 
08-04-2005, 09:44 PM
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Im very surprised you wouldnt have to pay for tyres, but they could have a fleet contract which will explain the inflated rental price.
If you're sure its as good a deal as you say then coolio, I would be a little wary of signing up to a 2 year agreement, our scheme is 9 months at a time. Ask where you stand should the car need to go back in for warranty / break down work, do they provide a replacement car and if so for how many days.
On the other hand, the used car market has dropped considerably in the last year, you could find yourself with a W / Y plate car with low miles on it that'll only cost you £2k, all depends what you are looking for really.
If you're sure its as good a deal as you say then coolio, I would be a little wary of signing up to a 2 year agreement, our scheme is 9 months at a time. Ask where you stand should the car need to go back in for warranty / break down work, do they provide a replacement car and if so for how many days.
On the other hand, the used car market has dropped considerably in the last year, you could find yourself with a W / Y plate car with low miles on it that'll only cost you £2k, all depends what you are looking for really.
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08-04-2005, 09:50 PM
#8
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we get 4 tyre vouchers when the lease starts to be exchanged for tyres as and when there needed, warranty work is done through work, i drive to work leave key's at security car then gets taken to local dealer (2 mins) and if its not back before i finish work i get a pool car which is usually just another newish toyta of some sort. I say 2 years but for a 1 month penalty payment i can hand the car back when i like, i could take it over a year when but the monthly payment goes up £15-20 or so, think i might have a look in the trader before i go for it just to see what i can get for 2-2.5k, thanks for your advice clare 
08-04-2005, 09:54 PM
#9
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No probs Matt, it does sound like a reasonable deal, good luck with whichever route you choose 
ps: not sure what sort of car would suit your needs but my best mate recently bought a Saxo VTR, she was looking at X reg and newer, I couldnt believe how much the price has dropped on a car like that, they were all around the £2.5k mark!
ps: not sure what sort of car would suit your needs but my best mate recently bought a Saxo VTR, she was looking at X reg and newer, I couldnt believe how much the price has dropped on a car like that, they were all around the £2.5k mark!
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