Fiesta ST
Has anyone ever done this?? if so how was it? im after a 182
[Edited by jimmyriddle on 22 March 2005 at 5:23pm]
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Anyone ever leased a car
- Thread starter jimmyriddle
- Start date
Has anyone ever done this?? if so how was it? im after a 182
[Edited by jimmyriddle on 22 March 2005 at 5:23pm]
P
peterh2
My 182 is leased see http://www.hr-leasing.co.uk/index.php?page=cars for more information.
Must say I was very happy with the service I have received from them as well.
Fiesta ST
ah this is the company ive been looking at.....how long did it take you to get it?? how much etc??
Quote: Originally posted by Dan on 22 March 2005
why do you want to lease one?
Appears to be around £6700-£7000 to lease a 182 for 3 years (limited to 30,000 miles). If you buy one now new to your own spec for £12k you would only have to sell it for £6k in 3 years and you would still be better off. Judging by current 3 year old 172 costs you could do a good 20,000 more miles in those 3 years and still be at least £1000 better off.
I would like to hear what the benefits are but I cant really see at the moment, Id imagine the T&Cs ae quite harsh, a decent loan and a purchase of a 182 would appear to be a better option.
A Direct Line loan at 5.9% APR used to purchase a very low miler would probably work out cheapest.
Youd need a good credit history to get that APR but youd save a fortune on both the purchase price and interest compared to a dealer finance scheme (assuming no 0% finance is available on new) by buying a car with a few hundred miles on it or simply a pre-registered example.
Direct Line offer some of the cheapest loans around and are certainly worth a look if you are financing a new vehicle, and no, I dont work for them!
Fiesta ST
i simply cant afford a new one at the mo, just an option. just got a mail back now >>> an initial rental of 585+vat then 11 payments of 195+vat, this is for a 2 yr contract as well.
Fiesta ST
nah martin i need all the advice i can get..........this price comes with tax and maintanance, i am looking into gettin a 2nd hand 172 for bout 7500 to 8000 but that works out at 245 a month over 3 yrs so im at a cross roads, im sh*te at sums but i get it to 3218 alltogether for the lease. would the 182 not lose this much in 2 years anyway?
Heres the math, you could get a better deal I reckon mate. Im no expert on 172/182s so please done take this as gospel, but Ill try and help.
Lease Cost (Basic Exclusing Servicing etc)
Initial Deposit £687.38
11 Monthly Payments of £229.13 = £2520.43
Total for 2 years of leasing: £6415.62
Purchase Cost
javascript more_info200511185758007,124, CARS ,9,200511185758007,490,560;">U color=#0000ff2003 RENAULT CLIO 2.0 16V Renaultsport 172 Cup 3dr Hatchback,/U 3 Doors, Manual, 3 Door Hatchback, Petrol, 19,700 miles, . met blue,frsh,cd,ew,airbags,1yr warranty,alarm,cat1 immobiliser,immaculate throughout,reduced price for quick sale
@ £7995
24 monthly repayments of £353.75
Interest (APR 5.9% fixed): £490
TAP £8490
Guestimated resale value: £5700
TCO for 2 years: £2790
Over 36 months itd be:
Interest (APR 5.9% fixed): £732.16
Monthly: £242.56
TAP: £8732.16
Resale: £3500-4000
Just slightly cheaper than the lease!!! Of course its the 172 but its an 03 with low miles. Not a bad deal in my eyes at least. At least you own the car.
My maths are mailto:cr@p">cr@p everyone so feel free to correct them. Think its right though. Not sure on the resale figures.
Hope this is helping.
Cheers,
Martin
If its only £2500-£3000 or so for 2 years then Ill do it myself as that is EASILY less than the depreciation. I cant see that being the right figure. I would guess on that being a yearly figure not a full contract term figure.
If an 03 172 is selling for £8k now, thats about £3k off list price in depreciation, and I think that is over priced a bit. So assuming £3k for the lease over 2 years, where do the lease company make their money?
Am I overlooking something here? They get stuck with a 2 year old car afterwards, so all you are doing is paying them back depreciation surely? Where is the profit?
Thats why I was wondering about the small print, Im guessing you get hammered if you go over the agreed mileage and Id be suprised if other constraints arent in place.Quote: Originally posted by MartinS on 22 March 2005
Am I overlooking something here? They get stuck with a 2 year old car afterwards, so all you are doing is paying them back depreciation surely? Where is the profit?
Fiesta ST
lol the guy quoted me wrong, it was 23 payments of 192+vat. maybe just look into a 1 yr lease, just thinking of the pros and cons, if i get a 3 yrs old 172 for 8000 then its out of warranty and im running the risk of shelling out to fix it if it goes bang, but then again itll be my car, also im not that keen on tieing myself to a loan for 3 years (lookin for house etc). im stuck.
