Mk7 Golf R - Good lease deals..

[berg]

It's not for everyone, but think of it like this. I'm using joke figures to illustrate a point, but bare with me..

You've got £30k.

You buy a car for £30k cash.
You lease a car for £10k over 2 years and keep £20k in the bank.

At the end of 2 years, the car has depreciated £10k. So, the thing you have 'to show for it' is £20k tied up in a depreciating asset. If you sell it, you get £20k and put it in the bank, putting you in exactly the same position as the leaser.

Either way you've had the use of a car for 2 years, and that costs money.

Let's be honest, though. Most people who do this DON'T have the £30K in the bank they just want everyone to think they own a brand new £30K car, when in fact they couldn't actually afford one!

75% of Porsches and BMW are leased or PCP's.

Buying a car with cash outright ie not a loan, not bunged on your mortgage is stupid anyway unless you actually are that filth rich. Why would you tie up all that money into a depreciating asset when you could use your cash to invest in something.

This is why even the rich Porsche owners, lease etc their cars.

HP or buying the car outright in whatever fashion only makes sense if you plan on keeping the car long term ie 6+ years.

If you buy a new car every 2-3 years and you buy from the higher end of the market, it makes more sense to lease.

I agree with Poverty. Buying makes sense if you keep your cars for a long time or you can afford to pay cash for it so are not paying any interest.

[Scottymon]

Yeap I agree too, if you're looking for older cars which have plateaued usually around 3/4 years and plan on keeping it for another 2 years, buying outright isprobably the best way  For a new car, its a no brainer, leasing all day... I'd even suggest leasing if looking for a 1 year old car that you plan on keeping for 2 or so. 

New Golf 7R for £300 a month with no maintenance worries.

[Saintsteve]

Does Wigit lease his cars as he changes his every 4 months when Vw bring something more shiny then the last?

Might be worth asking him why and how he's goes about it.

Wonga

Then you have more money then sense 

Lucky to be in that position if you buy your cars outright.. But I wouldn't wanna calculate how £1000's you've lost in depreciation by changing your cars like you have.
But good for you if your in that position that 90% of peeps aren't .

[candy turbo]

I like the idea of getting a new R on lease but much prefere the idea of an older car being mine to do what i want with
I think for general use lease is a great idea but for the enthusiast buying / bank loan is better idea

[garrardrj]

Yeap I agree too, if you're looking for older cars which have plateaued usually around 3/4 years and plan on keeping it for another 2 years, buying outright isprobably the best way  For a new car, its a no brainer, leasing all day... I'd even suggest leasing if looking for a 1 year old car that you plan on keeping for 2 or so. 

New Golf 7R for £300 a month with no maintenance worries.

Don't forget the 6 x £300 up front , about another £80pm split over 24 months = £380pm = £8700 approx for 2 years motoring 

[rich83]

Does Wigit lease his cars as he changes his every 4 months when Vw bring something more shiny then the last?

Might be worth asking him why and how he's goes about it.

Wonga

Then you have more money then sense 

Lucky to be in that position if you buy your cars outright.. But I wouldn't wanna calculate how £1000's you've lost in depreciation by changing your cars like you have.
But good for you if your in that position that 90% of peeps aren't .

Steve it was a joke. He meant Wonga, the stupid loan company who charge 3567%APR

[GrayMK5GTI]

Does Wigit lease his cars as he changes his every 4 months when Vw bring something more shiny then the last?

Might be worth asking him why and how he's goes about it.

Wonga

Then you have more money then sense 

Lucky to be in that position if you buy your cars outright.. But I wouldn't wanna calculate how £1000's you've lost in depreciation by changing your cars like you have.
But good for you if your in that position that 90% of peeps aren't .

Steve it was a joke. He meant Wonga, the stupid loan company who charge 3567%APR

It's now 3842% APR   

[scooba]

I had a new mk6 R for six  months lost interest at 500 miles and sold it losing £3200 or £540 per month depreciation. hope this helps

[edd666999]

Does Wigit lease his cars as he changes his every 4 months when Vw bring something more shiny then the last?

Might be worth asking him why and how he's goes about it.

Wonga

Then you have more money then sense 

Lucky to be in that position if you buy your cars outright.. But I wouldn't wanna calculate how £1000's you've lost in depreciation by changing your cars like you have.
But good for you if your in that position that 90% of peeps aren't .

Steve it was a joke. He meant Wonga, the stupid loan company who charge 3567%APR

It's now 3842% APR   

its actually 5853%

And if you decided to borrow £35000 for 2years you would pay back £4,097,100 or £170,712 a month

[swgti]

It's horses for courses isnt it and its an argument that will go on as long as the ED30 Vs R32 debate lol.........I never thought I'd entertain a PCP but my mate got a new 11 plate 3 series m-sport diesel the same time I bought my 6yr old Mk5 gti, his deposit was very similar to the one I put down on the golf and his payments were only around £20-30 more a month more, by the time I traded my golf in when we added up depreciation, running costs and finance payments my golf had cost me nearly as much as his BMW at the same point!!! Fair enough I got some cash back towards my next car but he goes next month to choose his brand new BMW.

Cars hemorrhage money regardless it's just up to you how you do it and what you want from it.

[garrardrj]

I'm sorry but i can't believe the above from swgti 

In two years your mate would nearly have paid as much in payments as your car cost to buy , you would have got back at least half what you paid for it in 2 years ??

Your mate will need to find another upfront payment to get his new BMW too ??

You'll need to explain more to convince me 
 

[Poverty]

I'm sorry but i can't believe the above from swgti 

In two years your mate would nearly have paid as much in payments as your car cost to buy , you would have got back at least half what you paid for it in 2 years ??

Your mate will need to find another upfront payment to get his new BMW too ??

You'll need to explain more to convince me 
 

I did the same calculations for my sister once, pcp vs buying outright on a polo.

Pcp did work out more expensive over 6 years, by like 2k, but she would have had two new cars vs the 1 bought outright.

Although you could argue you would get some of that money back via less maintaince as the pcp car will always be in warranty.

[swgti]

I'm sorry but i can't believe the above from swgti 

In two years your mate would nearly have paid as much in payments as your car cost to buy , you would have got back at least half what you paid for it in 2 years ??I hadn't paid for my car outright by this point, i worked out what it'd cost me in deposit, finance payments, maintenance and repairs and then what I was given as trade in, divide that by the time I had it gave me a similar deposit and a monthly figure very similar to what he was paying each month.

Your mate will need to find another upfront payment to get his new BMW too ?? Not as far I am aware he doesn't as long as he stays with the same dealer, not sure if the agreed amount he gets for his car on trade in then allows for cash to be put towards the new deal.

You'll need to explain more to convince me 
 

[Sunglasses Ron]

One thing I would check if going for this deal is how much less it would be without maintenance. 20k miles won't require much in regards to tyres and servicing unless you drive like a tit everywhere. 1 set of tyres and an oil and filter change will be around £750 if you shop right. If it's a car for the wife (which is what I do) then I wouldn't go near maintenance on a low mileage lease, all the car will need is an oil change over 2 years.

TC - yes you will need to get any repairs sorted when the car goes back, but if you spanked a kerb or scuffed the lotus on a post, would you just leave it or get it repaired?!?!   I can't see how that is any different to be honest, unless of course you run round in a £500 sh*tter?
The wife changes her Citroen C3 this week for a A1 S-line (both on lease) and we have just had 2 big scuffs smart repaired on the back bumper (whole bumper sprayed), whole side skirt painted, bottom of the passenger door filled and sprayed and also the mirror cap. £350 all in and a cracking job too believe it or not. Either way the car goes straight to auction.
You just need to make sure that you don't give the lease company any reason to bend you over for any repairs (scratches, dents, chips in windscreen etc). That's where they'll get money back if you're not careful.

[Top Cat]

I agree with everything you mention Ben. Lots of people might not get their cars tidied up though because they think they can just swap it for a new one 2 years later. As long as you know what these deals are all about then i don't see any problem with them.