Car leasing companies

[Robt]

What was wrong with them, looks like there joking up with another big player

Just zero customer service skills. Took months to get a quote out of them. We placed the order in May 2019. They eventually placed the order with VW in Oct 2019. So all this meant our truck were delayed. Then when i chased them in in March 2020. They had mistakenly cancelled their own order with VW.... It cost the min the end as we got a free upgrade to next model. They never answer their phone. I had to resort to Twitter to even get a phone call back..

 

[Tomr10]

Just zero customer service skills. Took months to get a quote out of them. We placed the order in May 2019. They eventually placed the order with VW in Oct 2019. So all this meant our truck were delayed. Then when i chased them in in March 2020. They had mistakenly cancelled their own order with VW.... It cost the min the end as we got a free upgrade to next model. They never answer their phone. I had to resort to Twitter to even get a phone call back..

O dear a friend has had something similar were they didn't ask him about a delivery date and just picked a random date months Into the future

 

[Clive]

Just zero customer service skills. Took months to get a quote out of them. We placed the order in May 2019. They eventually placed the order with VW in Oct 2019. So all this meant our truck were delayed. Then when i chased them in in March 2020. They had mistakenly cancelled their own order with VW.... It cost the min the end as we got a free upgrade to next model. They never answer their phone. I had to resort to Twitter to even get a phone call back..

most car dealers are a joke right now - customer service seems to be at all time lows in my recent experiences

 

[michael N123]

I hate spending 10k on a car never mind 20k on one you have to give back

 

[Robt]

O dear a friend has had something similar were they didn't ask him about a delivery date and just picked a random date months Into the future

Oh we specified a date. Sadly we have to use them, (Company policy). They also did the same on our latest 2 x Ford Rangers! Took our order but didn't place dealer order for 6 weeks. So frustrating!

 

[thesilentone]

most car dealers are a joke right now - customer service seems to be at all time lows in my recent experiences

What go's around, comes around.

At the moment demand for s/h is high, so there is very little dealing,they are in supply mode. If you don't like it, tough is the attitude.

But nothing is forever..............

 

[Scholsey]

View attachment 1000556

Obscure watchman film reference, done well to shoehorn that in but good work!

 

[tomg]

If you have no interest in buying the vehicle after the PCP term (which most people don't) then PCP is quite an expensive way of having a car. Your paying much higher monthly payments than leasing the same motor

 

[thesilentone]

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[Clive]

If you have no interest in buying the vehicle after the PCP term (which most people don't) then PCP is quite an expensive way of having a car. Your paying much higher monthly payments than leasing the same motor

monthly payments should be far lower on PCP over the same term than hire purchase as PCP only finances the capital repayment of the depreciation, not the entire value which is financed on an interest-only basis

PCP finances the use of an asset whilst giving an option to extend or buy in the future if you wish and offers the possibility of building some equity in the asset whilst protecting against negative equity situations (regulated agreements)

Contract hire finances just the use of an asset, no option to buy or extend in the future or any possibility of building any equity in the asset, no risk of negative equity

Hire purchase finances acquiring an asset, big risk of negative equity but also you get 100% equity after than final payment is made


PCP and Contract hire will always be lighter on cashflow / capital requirement over the same period vs Hire purchase

 

[ARW]

We need another 4x4 to replace our little run around car, we are considering leasing a 4x4 through one of our business's as this business can pay £5k a year tax, so we think we may as well pay that in lease hire and reduce the tax bill and gain another 4x4
One of my friends leases about 10x vehicles and they always send them away to get dents ands scratches sorted before they go back, his thinking is getting them repaired rather than a deduction will be cheaper and even if you owned the vehicle your resale value is also effected by the dents and scratches
I've never been a fan of not owing my machines however the tax reasons have benefits

 

[Robt]

We need another 4x4 to replace our little run around car, we are considering leasing a 4x4 through one of our business's as this business can pay £5k a year tax, so we think we may as well pay that in lease hire and reduce the tax bill and gain another 4x4
One of my friends leases about 10x vehicles and they always send them away to get dents ands scratches sorted before they go back, his thinking is getting them repaired rather than a deduction will be cheaper and even if you owned the vehicle your resale value is also effected by the dents and scratches
I've never been a fan of not owing my machines however the tax reasons have benefits

If you put a car though the business . Who pays the BIK on it? Think they tightened the rules on “pool cars “ ???

 

[tomg]

monthly payments should be far lower on PCP over the same term than hire purchase as PCP only finances the capital repayment of the depreciation, not the entire value which is financed on an interest-only basis

PCP finances the use of an asset whilst giving an option to extend or buy in the future if you wish and offers the possibility of building some equity in the asset whilst protecting against negative equity situations (regulated agreements)

Contract hire finances just the use of an asset, no option to buy or extend in the future or any possibility of building any equity in the asset, no risk of negative equity

Hire purchase finances acquiring an asset, big risk of negative equity but also you get 100% equity after than final payment is made


PCP and Contract hire will always be lighter on cashflow / capital requirement over the same period vs Hire purchase

The PCP deal on the Hyundai Kona we have coming was £450/month with a £2.5k deposit. Same deposit on a lease deal and we're paying £280/month Inc maintenance.
The dealers never give you a leasing option unless you specifically ask, they always push pcp.
I've never yet come across someone who has paid the balloon payment to actually buy the car, they just take a new deal on a new car.
It maybe slightly different now with the increase in the second hand values but I've not come across someone who at the end of the term has actually got equity in the car.

This chap explains it a bit more

 

[Bob the beef]

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 !

Absolutely, but the OP was asking for opinions on leasing, and I gave my experience. We have chosen to do something different which suits our business better

 

[Netherfield]

Chap up the road had a car with ALD finance on the number plates, as soon as the mileage got close to 5,000 the company he worked for gave him another one.

He had 3 different cars within one calender year, I asked him why, he didn't know or care as long as he had something decent to drive around in. No particular make either, VW, Skoda,Ford, Renault, Nissan,BMW.

Must have been a reason, no idea why though.

 

[ARW]

If you put a car though the business . Who pays the BIK on it? Think they tightened the rules on “pool cars “ ???

We don't pay BIK on the pickup as its 100% work, wife's car for personnel

 

[Lincsman]

Are there any companies that loose money so I can have a car cheaper than buying?

 

[Robt]

We don't pay BIK on the pickup as its 100% work, wife's car for personnel

so new car you are thinking of is a pickup? I though the new car was for your wife hence my question on BIK. sorry didnt register when i first read it!

 

[Highland Mule]

Are there any companies that loose money so I can have a car cheaper than buying?

Tax advantages and bulk buying discounts mean that they can afford to make money and still be cheaper than you buying.

 

[FonterraFarmer]

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.

Long??? 10 years isn't long, the youngest car /ute here is 25!!!