Car leasing companies

Juggler

Member
Livestock Farmer
Location
Anglesey
Thinking of going down the leasing route for the next car, what companies can people recommend? Any pitfalls to watch out for?
 

Robt

Member
Location
Suffolk
We Lease our trucks through Lease Plan. Would never use them again given the choice. Last trucks were through ALD. Would use them again as they were helpful and managed to answer an email in less than a month.
 

benny6910

Member
Arable Farmer
I’ve leased 3 Volvos now,2 though main dealer and current one through the buying group I’m in. Downfalls are them nit picking about tyres,scratches and alloy wheel damage. It was cheeper the last time around rather than purchasing. Only half way through this contract so will wait and see.
 

Derrick Hughes

Member
Location
Ceredigion
I’ve leased 3 Volvos now,2 though main dealer and current one through the buying group I’m in. Downfalls are them nit picking about tyres,scratches and alloy wheel damage. It was cheeper the last time around rather than purchasing. Only half way through this contract so will wait and see.
Been leasing for years , never paid a penny on return , then they stung me big style on the last ones ,so done with it , never again , that was a main dealer as well
 

Tomr10

Member
We Lease our trucks through Lease Plan. Would never use them again given the choice. Last trucks were through ALD. Would use them again as they were helpful and managed to answer an email in less than a month.
What was wrong with them, looks like there joking up with another big player
 

ARW

Member
Location
Yorkshire
We are looking at leasing a vehicle, mainly for tax reasons.
Is there any companies to avoid?
We have been looking at getting one for September time, currently the a Hilux is the cheapest overall, I’m guessing because of the strong resale price
 

Juggler

Member
Livestock Farmer
Location
Anglesey
I'm not convinced it's the way for us to go, basically it would be to replace my Wife's daily drive, not a farm or business vehicle. She doesn't like the thought of leasing and I think we both prefer the thought of buying a 2 or 3 year old car instead but thought we'd have a look at the figures.
Leasing costs look to be expensive for the type of car we're looking at, granted they would also be expensive to buy new but maybe sub 3yo would be better value.
We looked at leasing when we bought her current car new almost 10 yrs ago and there wasn't much in it,, we almost leased but I found a dealer who offered me the car 5k less than my local dealer and that just blew the figures for leasing out of the water, especially as we've kept it so long.
 

Bob the beef

Member
Livestock Farmer
Location
Scot Borders
Looked at leasing several times over last 10 years for farm truck and wife’s car. Can never make the figures work before you get stung on the handback. Plenty farms round here do lease their trucks though and reckon it works for them. Depends on individual circumstances I reckon, I.e. whether you want an asset on the books with usual maintenance costs, or a monthly figure for all your expenses.

we just keep buying 3/4 year old vehicles with low mileage on them and change after 3 years. Change costs are never too exhorbitant
 

Clive

Staff Member
Arable Farmer
Location
Lichfield
Thinking of going down the leasing route for the next car, what companies can people recommend? Any pitfalls to watch out for?

Lex Autolease have been good in the past in our experience

you will get much better deals on pre spec’ed. “stock” cars vs specing your own

only potential pitfall is return condition, be aware you will get charged for any damage beyond wear and tear. It’s often worth having anything rectified yourself ve letting them do it at higher cost

not had any bad experience really though

contract hire looked expensive vs buying last few cars we swaped though, PCP is worth considering as a half way between outright purchase and contract hire / lease
 
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Clive

Staff Member
Arable Farmer
Location
Lichfield
Can’t compare lease vs buying a 3 year old car !

Compare lease with buying a new car

if you want a 3 year old car then yes just buy it !

apples with apples !
 

Sid

Member
Livestock Farmer
Location
South Molton
Lex Autolease have been good in the past in our experience

you will get much better deals on pre spec’ed. “stick” cars vs specing your own

only potential pitfall is return condition, be aware you will get charged for any damage beyond wear and tear. It’s often worth having anything rectified yourself ve letting them do it at higher cost

not had any bad experience really though

contract hire looked expensive vs buying last few cars we swaped though, PCP is worth considering as a half way between outright purchase and contract hire / lease
Be some interesting chats about end of term PCP deals given the resale values now
 

Clive

Staff Member
Arable Farmer
Location
Lichfield
Be some interesting chats about end of term PCP deals given the resale values now

great news for people on PCP - the settlement number will be far below the cars value in. most cases

not a lot to discuss, pay the settlement, sell car on WBAC etc and pocket the difference ! or use that equity to reduce the payments on the replacement car
 

___\0/___

Member
Location
SW Scotland
Problem is your locked in so the pcp company is the winner
Screenshot_20211130_100045.jpg
 

Clive

Staff Member
Arable Farmer
Location
Lichfield
Problem is your locked in so the pcp company is the winner

nope ! you can settle out of a pcp whenever you like and as long as final ballon is lower than market value (most likely the case right now) you are the winner

In contract hire you are locked in however for the term and the hire co would benefit from the rises in used prices not you
 

Sid

Member
Livestock Farmer
Location
South Molton
great news for people on PCP - the settlement number will be far below the cars value in. most cases

not a lot to discuss, pay the settlement, sell car on WBAC etc and pocket the difference ! or use that equity to reduce the payments on the replacement car
That was my understanding, the asset is worth more than the balloon at the end...this time.
 

Clive

Staff Member
Arable Farmer
Location
Lichfield
That was my understanding, the asset is worth more than the balloon at the end...this time.

it's something to be careful of re PCP's as historically its doesn't always work out with positive equity like it will be doing at the moment

some PCP agreements are "regulated" that means you can never end up in negative equity - ie if the ballon is more than the cars value at the end you hand it back and the negative is the finance companies problem not yours

others are unregulated - that could be dangerous as you have to pay the final ballon regardless of if its in positive or negative equity

obviously the regulated type of agreement is preferable (but may cost more interest or fees as a result) ! Although final ballon level is usually set at a very conservative level regardless, of agreement type, negative equity is in no ones best interest
 
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Clive

Staff Member
Arable Farmer
Location
Lichfield
I was having a conversation at Coptec last week with a large tractor manufacturer (Fendt)

why are PCP agreements not more common on farm machinery ? often a user only needs to finance the use of a machine not the capital and PCP offers that and its therefore more affordable / easier on cashflow

with new farm machinery prices getting so high now you would think it would be a useful tool for many farms ?rather than hire purchase or contract hire which are more common ?
 

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