General Chat

Looking for advice - has anyone taken out a personal lease agreement on a car before ? I don't mean lease-purchase, I mean a straightforward lease, where the car is never yours. I'm thinking of doing this the next time I change my car. Any views ?

what do you mean paul like rental or montly payments over a period of three to five yearslolxxxxxxxxxxxxxx(:

Hi Paul, My mum as such does this and finds it great as she can update her car when she feels like it with no ties or outstanding payments.The downside is that the car will never be yours really but hey,no real financial concerns with HP.

i think if it's just rental and updating that would be a good way as the way that i do it with mine is a monthly payment for 3 years at two hundred and twenty five pounds per month.thats how much we pay.with that though we had found that if you want another car but haven't payed for the other one you are forced to pay off the debt before taking another car outxxxx(:

my other half is leasing a car through a scheme at work called Your Car For £220 a month he is gettting an A Class mercedes.that cost includes 2 years road tax,fully comp insurance,all costs,services etc.All he has to pay for is petrol.Hes allowed to do 15000 miles a year and he has the car for 2 years and then he hands it back with. He decided to do this cos the last car we bought brand new cost 20k and its now 5years old and only worth just over a thousand,plus services and repairs etc can be very costly,whereas with this new car,he when it needs anything doing to it,Mercedes just bill his place of work,not him lol Anna :-)

that's a much cheaper way ann.maybe more companies should do that for their workersxxxx(:

the thing is, at the moment I have one of these lease-purchase things, where I pay a deposit, then pay monthly installments for 3 years, and then at the end of that period I have two choices; pay off the remnainder outstanding (which will be effectively £6k) or hand the car back - which is what I intend to do - so it's never really going to be mine. I'm currently paying 349 a month for a picasso - I saw that you can lease the exact same model for about 199.

lots of companies are doing away with their company car schemes and givieng people an allowance instead, its less overhead for them to manage. I can't do anything where the company gets the bill, it has to be totally my deal.

i would lease paul.thats a hell of alot of money for a monthly instalment.i have a focus and that two hundred and twenty five a month.i would consider that optionxxxx(:

paul i would suggest phoning a hire company. my mate hires a merc from a company in salisbury for £300 a month and gets his insurance and tax included! one suggestion though, dont get a girls car next time! a picasso??? ha ha ha!

paul what car do you drive ha haxxxxxxxxxxxx(:

oi it's not a girls car it's a family car. a girls car is something like a corsa lol

paul i needed you on my 'im off for a bit' thread. lisa was being a man hater again!

paul i said nice things about you.is that my moddle name now!!!!xxxx(:

nothing new there then. sadly I think I was out to lunch at the same time

I would go for a lease job Paul,my eldest son does it that way.He pays £164 a month ,gets an allowance of 1500 miles a month ,his tax and insurance are paid his service is free he only pays for a second change of tyres in the three years ,and changes to a new car at the end of 36 months[through nissan ] I'm thinking of doing the same myself as it looks to be a much cheaper option in the long run.Fred.ptfg.

Paul I was a fleet manager in a previous incarnation and we leased most of our cars. Nearly all businesses lease capital equipment because that is the cheapest way of raising the money and the equipment (or car) doesn't count as an asset. For an individual that isn't a consideration. Lease or lease purchase are very similar and it is not difficult to calculate the cheaper option. I guess you are really talking about contract hire which includes maintenance. Whichever you choose (and this applies to your present car) you must be very careful about the condition of the car when you return it. The garage will go over it with a magnifying glass and charge you for any damage that they consider is not “fair wear and tear”. This can cost hundreds for a small dent in a door. If a bumper is cracked you can probably find a perfectly good one in a scrap yard for a few pounds. They would buy one from the manufacturer for hundreds. They will also charge you if you had an accident repair that they consider not up to standard. The advice is that when you return the car you should prepare it as if you are selling it (in effect that’s what you are doing). Clean and polish it and inspect it thoroughly for scratches, dents and dings. If they need repairing it will certainly be cheaper for you to do it in advance than to leave it to the lessor. When you negotiate the lease think carefully about the mileage estimate. I had one lessor who charged so little for excess mileage that it paid to underestimate, but generally excess miles are expensive. Finally my own experience tells me that to buy one of these 3 year old cars at auction and run them until they are scrap is the best and cheapest way to own a car. I would be happy to give direct advice if you e-mail me Bob

Paul, my hubby's company does it that way. He gets a monthly allowance which includes a 'benchmark' sum according to his grade to lease the car, plus enough for insurance etc. The only stipulation his firm makes is that the car must have four seats and a hard roof (so no sporty chick-pullers). They can also get a discount if they go for a Ford. He is plumbing in the washing machine at the moment so can't ask him what he pays, but we have a top of the range Scenic, we both like it very much. I think we pay about £300 but I can't be sure. Mandy :)