New pickup,lease or buy?
- Thread starter Drillman
- Start date
- Location
- Aberdeenshire
I prefer to lease. Keep in mind that a farm vehicle might not have the same value at the end of contract as other users which might incur a payment.
warksfarmer
Member
Think the days of leasing pickups are long gone. We’ve leased them for 15 yrs but bought the last one and will be buying another this autumn for March 24 delivery.
The lease prices I’ve seen so far are extremely high. Look at used values and buying is the cheaper option as long as you can afford to carry the purchase till you move it on after a few years.
That’s why I asked the question as already own one where it seems buying was a much cheaper bet than leasing.
I just wondering how and why others choose the lease option!
We always buy, be it tractors, forklifts pickups or anything else. Generally by the end of the lease period you've parted with as much brass as you would buying the thing, then have to give it back! In essence you never stop paying.
If you buy and find it's really good, or the job gets tight, you can make change time wait. Equalling if it's crap it can go sooner!
That said, I've never financed any vehicle to ride about in, and have never paid more than 10k for any of them.
As a general rule we buy then at 4-5yo with 100k on, I have them for 5yrs or so & put 50-60k on them, then they become the farm truck til they reach the end of the line.
If they get anywhere near a grand a year or 10p/mile in depreciation I'd class it expensive motoring
If you buy and find it's really good, or the job gets tight, you can make change time wait. Equalling if it's crap it can go sooner!
That said, I've never financed any vehicle to ride about in, and have never paid more than 10k for any of them.
As a general rule we buy then at 4-5yo with 100k on, I have them for 5yrs or so & put 50-60k on them, then they become the farm truck til they reach the end of the line.
If they get anywhere near a grand a year or 10p/mile in depreciation I'd class it expensive motoring
Nearly
Member
- Location
- North of York
Auctions
warksfarmer
Member
Found the opposite over the last 20 yrs of leasing tractors and vehicles until the last 18 months. 70 plate ranger Wildtrack, 3 yrs, 20k miles per year, 3 years £270/month + vat. 3 payments down. Total cost £10,530 + vat.
Goes back in March 24 but it will be replaced with a purchase. When that arrived in March 21 we also bought a 70 plate Amarok because at the time a lease was £680/month + vat, so buying that was far cheaper as it’s now done 30k miles and still worth what we paid for it according to the local vw commercial centre. The new vw Amarok though is going to be pushing £50,000 to buy. Final prices are imminent.
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How much was the Wild track to buy back then?
Personally, £3.5k per year is too much for a runabout, but I'm not doing the miles you are
- Location
- West Kent
my 19 plate was £24,000 including 2k scrappage for a navara with a snapped chassis. 4 years 0% finance, £480 per month.
WBAC price today £21,230
ollie989898
Member
Speak to your accountant first regarding your present circumstances. I do not believe leasing would ever be cheaper than owning unless you have one of those unicorn vehicles that magically increases in value over time but then they seem to cost more to buy in terms of sticker price as well.
If you are leasing you also have to consider it's value when they take it back which means you need to be rather careful on farm as that caper gets expensive very fast.
If you are leasing you also have to consider it's value when they take it back which means you need to be rather careful on farm as that caper gets expensive very fast.
warksfarmer
Member
Ordered it in Jan 21 and it arrived March 21 and from memory with the tow bar and rear canopy the otr price was about £30,000 + vat. I’d have to get the paperwork out to be sure though.
- Location
- Bury St Edmunds, Suffolk
Do you lease HGVs though?
No, we always bought them, usually on finance but not leased. To make that stack up drivers need to be out every night and maxing hours every day. Our work didn't really work like that.
It does make sense for tramping though, wherever you are in the country there is backup then.
We've been out of haulage since June 2019
TripleSix
Member
- Location
- Helmsley, North Yorkshire
I priced to lease a van in 2020 but 25k+ miles a year makes it prohibitively expensive.
Stw88
Member
- Location
- Northumberland
Trouble is these new pick ups are a nightmare once out of warranty. Fathers Nissan has just been in for 2 new turbos, 4 week wait for parts and a 4k+vat bill it’s only done 60k miles. Thats on top of all the other problems it’s had over the last couple of years. Even the service manager said he’s glad they’ve stopped selling them as the newer they got the more problems they had. Picking a new Isuzu up next week, 5 years warranty, plan to change at 4 and keep them new.
Hilly
Member
- Location
- Scottish Borders.
Fella was here the other day in a sanyong pickup , latest model , second ones hes had loves them 5 year warrenty , i felt it looked really good , i like the look better than new hilux . But dont know much else about them …..
If you have the cash , buy then sell at year two. If you don’t. Lease for 4 years. You are doing very low annual miles do be prepared to get stung in lease , hence why I say buy. Bit if you do buy/ budget £2000 to get paintwork done and valet before you sell at 2 years. It will make you £4000
Also if you buy, don’t go for basic bit for a top spec
Did he buy it or was it given…. I looked at them. They are very low and have terrible resale which is all relevant if look in at cost or ownership.
Stw88
Member
- Location
- Northumberland
Father liked the look of them but their worth nowt 2nd hand is the problem.