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Total amount payable £65,000.......Some idiot is going to do this. Cloud thought....” I can afford this depreciating asset... if I pay a £1000 down- got that since I sold my Mum’s Astra- and then all I need to do is still live at home and pay £1000 a month out of my job working at the garden centre”. ......


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And not even be the ones to run the engine either.
I wouldn’t touch Apex or SSC with a barge pole.


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🤣  The sanity goalposts move. Especially after a year of lockdown. 😂

I think you'd have to be stark raving mad to pay £53K for a used Golf R. You could get a used A45s for the same price.

This is an interesting idea, assuming you're only thinking about a new car.  Given that it loses, say, 50% of its value in 3 years, who covers that £20K depreciation? Leasing companies are run as prof

3 hours ago, Booth11 said:


Certifiably mad.  Someone will pay it though.  Mind you many will think paying 43/44k for a Golf is beyond the realms of sanity.  🤐 😁

I thought it was borderline insanity when we spent £35k on a Golf! 🤣

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3 hours ago, kevintaper1 said:

Tbh I think anybody payingn£40k for a golf is mad, that's why I lease, let some other idiot take the hit on deprecation, emoji23.pngemoji23.pngemoji23.png

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This is an interesting idea, assuming you're only thinking about a new car.  Given that it loses, say, 50% of its value in 3 years, who covers that £20K depreciation? Leasing companies are run as profit centres, so someone has to pay for it. Have you done the sums of lease vs buy to prove your assertion?

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5 minutes ago, Chris7.5R said:

 

This is an interesting idea, assuming you're only thinking about a new car.  Given that it loses, say, 50% of its value in 3 years, who covers that £20K depreciation? Leasing companies are run as profit centres, so someone has to pay for it. Have you done the sums of lease vs buy to prove your assertion?

 

Spot on,if leasing cost less over the 3 years many more would do it including me.Like you say all these companies have to make a profit,use someone like DTD to buy a new car and you already have a massive head start against the future depreciation.

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5 minutes ago, Chris7.5R said:

 

This is an interesting idea, assuming you're only thinking about a new car.  Given that it loses, say, 50% of it's value in 3 years, who covers that £20K depreciation? Leasing companies are run as profit centres, so someone has to pay for it. Have you done the sums of lease vs buy to prove your assertion?


I am paying £18k to lease mine over 4 years. Deposit and monthly is a lot less than the equivalent pcp and includes road tax. 

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1 minute ago, Aid7072 said:

 

Spot on,if leasing cost less over the 3 years many more would do it including me.Like you say all these companies have to make a profit,use someone like DTD to buy a new car and you already have a massive head start against the future depreciation.

 

Given that buying new cars is just a bloody stupid way to throw money away, we do it anyway.

Best to reduce the outgoings to less than a raging torrent though.  🙂

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This is an interesting idea, assuming you're only thinking about a new car.  Given that it loses, say, 50% of its value in 3 years, who covers that £20K depreciation? Leasing companies are run as profit centres, so someone has to pay for it. Have you done the sums of lease vs buy to prove your assertion?
My golf R will cost me around £15k total in 3 years including 6 months upfront,, you lose the Vat straight off going out the show room, so there 8k allready, I'm pretty sure over the piece leasing is the way to go unless ya want to own a car out right which I don't now, lost so much on brand new cars over the years on depreciation

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19 minutes ago, kevintaper1 said:

My golf R will cost me around £15k total in 3 years including 6 months upfront,, you lose the Vat straight off going out the show room, so there 8k allready, I'm pretty sure over the piece leasing is the way to go unless ya want to own a car out right which I don't now, lost so much on brand new cars over the years on depreciation

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The VAT is gone yes but the car doesnt lose that amount suddenly in resale,the figures have never added up for me leasing on a personal and business point of view if you buy carefully.

I bought a pre reg 7.5R which I kept 21 months and lost £4k so no chance a lease would have come close.

Buying cars outright suits me,they are often gone after 2 years so the freedom to change them when I want is essential.

Granted it's not the most economical way of doing things but theres so many cars I like,Already fancy a 4wd M3 once they are readily available after launch later this year and i dont even have my 8R yet.

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I always look at the options carefully and a lease has never been close to the cheapest option for me.  Maybe that’s because I add a few extras, but I always assume they don’t add anything to the residual value when I’m working it out, so that doesn’t really make sense although it depends on how the lease company is structuring the deal (to state the obvious...)

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5 minutes ago, Martin2 said:

I always look at the options carefully and a lease has never been close to the cheapest option for me.  Maybe that’s because I add a few extras, but I always assume they don’t add anything to the residual value when I’m working it out, so that doesn’t really make sense although it depends on how the lease company is structuring the deal (to state the obvious...)

 

I'm with you on that,no value in a lease for me.

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I try not to get in to the pcp vs lease vs buy as a lot a people don’t understand the merits of each.

 

I have purchased cars all three ways over the years and I will explain why leasing works for me.

 

I have pcp’d a few cars and the only car I didn’t end up with negative equity was an S3. I lost my arse on the first mK7 gti... lucky sold private and broke even. Granted these were low deposit options which always increases chances of negative equity. 

 

If I bought cars cash my need to change them would increase..... I have owned a lot of cars and back in the day would change every 6 months just because I could. Leasing means I don’t do this and therefore waste further money. 

 

I only ever get the cheapest deals and don’t add many options when I lease.

 

I have had some bargains over the years £2k down and £107PM on a mK7 GTI for me and £142 on a GTD for the wife. This is very cheap motoring over 3 years.

 

Currently have the my Mk8 R which I pay £340 a month for and the wife has A35 premium at £330. Again £2k or so down on each.

 

I like cars and won’t drive something I don’t like. But I also have to balance wants and needs with the fact I retire relatively early so need to pay off my mortgage. I bought my first place at 19 so should be in an excellent almost mortgage free position but due to some very poor personal decisions I started again at nearly 30. So any lumps of cash I pay off mortgage or use it improve my home to increase the ltv. I don’t want to invest heavily in a depreciating asset like a new car at the min. The £150/£200 a month I save on a lease payment over a pcp payment is money off my mortgage. That could possibly change in the future but I would never buy a brand new car cash unless I was planning on keeping it many years.
 

I like to set a budget, get the car I want and like the idea of handing it back with nothing to pay. Again leasing ticks the box for this.

 

leasing isn’t for everyone. If my son was living at home at 18 and came to me for advice on leasing or pcp’ing a car my advice would be no. Save and get a roof over your head and worry about a nice car once you have achieved this. 
 

Leasing can work very well in the right circumstances. 


 


 

 

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