Hi Guys,
I'm looking to buy an Audi TT, in the next couple of months.
It has been suggested to me to try vehicle leasing rather than conventional methods.
I'd be interested to hear if any you guys have experience of car leasing or indeed what you thought of the TT if you've had one,
Sharon
X

I know a couple of people who have leased cars without any problems and I have a company car which is leased.  The things you need to be careful of are:

1) How much does it cost - don't forget you give it back at the end of the lease and have no car.  It may be cheaper to buy and then sell after 2-3 years.
2) what does the lease cover eg are you responsible for all the servicing etc
3) The mileage restrictions, my company car is restricted to 12,000 per year and then charged at 12p per mile for any additional mileage, this is not a problem for me as I don't pay it but the other year I did just over 20,000 miles which cost the company an extra £1000.

Steve

Hi Steve,
I have had a few quotes, and to buy a 52, 03 plate I'm looking at approx £16 - 17,000
Thats with approx 25 - 30,000 miles on the clock, the payments for that are around the £350 mark, there or thereabouts.
But, I can lease brand new for round about £380
As for the maintenance, I've had quotes both with and without. I figure without would be the way to go, as I'd only have the yearly services, as it will be covered by a full warranty.
As for never owning it, I'm one of these impatient women, who as soon as I can change it, I want to it drives my husband mad!! I'm very impulsive :rolleyes: Hey I can't help it...I'm female
I'm only doing around the 7,000 miles a year at the moment, so I've chose 10,000 for the quote. I don't think I'd be over that anyway. Can you think of anything where the warranty wouldn't cover anything that the maintenance would?
Cheers,
Sharon

I personally think unless there is financial gain for example through a business then leasing a car is throwing money down the drain.

TT's as you know hold their price fairly well BUT they will also hold a good price in 4-6 years when the younger poorer kids want the sporty car ;-)  BE patient and wait and buy second hand.  At least after  3 years you will get some of your money back and if you buy smart in the first place it will be reasonable amount of money back. I have seen them reasonably priced as I remember watching for one when my twin sister was buyng one.

To lease you are renting a car.  It is like renting a house to me you are just making money for others.

You are bound to be able to get a good car loan rate also. Inteligent Finance are very good with car loans.

Re the maintenance to me would never be a factor in the decision as a car 2 years old will hope fullyhave little problems

Thanks Blue, Yeah I appreciate the point that I'd be 'renting' rather than buying.
You have the exact same sentiments as my hubby - be patient!!
I'm not good at doing patient, but I'm trying :rolleyes:
Did your sister find one? I'd love to know how she found it, I've test drove a few and I love them, not at all practical, but it just makes you smile when you drive one
Sharon
X

My sister bought heres though the Autotrader , private deal. Thing she AA's it HP'd it and it had Service history from Audi.  Very easy to check now.

I will need to try and find out how much she paid but There are there to find it you search.

Practical NO , my sister has an 8 year old and a 18 month baby but won't drive a family Zafira.  Unlike her sensible sister who since getting dogs has scraped the sporty car for the People carrier ( or should I say dog carrier) ;-)

http://www.autotrader.co.uk

Loads on Autotrader for Garages and private. I did my own postcode but put in your own

In theory the warranty should cover most things except for ware and tear eg tyres.  You need to check how much the services cost as some of these can be expensive.  I think the major issue is the excess mileage, not much point having a car stuck in the garage because you've used up the allowance.

I personally am a little dubious about leasing because it does cost you more when you take into account resale etc - it must do because the lease company has to make it's money somewhere.

My daughter leases both of their cars and she's not one to waste money!! ;)  But they are both put through the company, which, I believe, is what makes it worthwhile.

Yip that is it Val. If you have a business there is tax benefits to do it but not if you have not.  IMHO that is  ;-)

Thanks again,  my hubby is a builder who is self employed, so perhaps that's an avenue I could look at tax-wise.
Blue ,thanks for the autotrader link, I've done nowt but search it for the last few weeks , but cheers for it anyway.
The OH is definately not one to waste money.....so watch this space :rolleyes:
Sharon
X

Hi Sharon,

I've got a lease car through my work and yes it's nice to choose a new one every 3 years and not have to worry about maintenance, but I have nothing to show for my expenditure (I pay a contibution to the lease for my personal mileage) at the end of it.  If I didn't have to lease because of my contract of employment I wouldn't do it.  I've just got a new one, very high spec, cos I indulged myself ;) , and suitable for the dogs, but I intend to buy this one at the end of the lease because we get a very good price if we do and the money I've paid to it won't be dead money this time, so to speak.  This will then become my OH's car and I will lease an ickle, very cheap car for work purposes.

If I were you I'd buy!

Lesley

PS, well, maybe ickle, but it'll still have to be a wee bit flash and possibly not quite so cheap as I'd like :D

We had one of these a couple of years ago

<a class='url' href='http://www.autotrader.co.uk/CARS/motoring/hir/hl-1.jsp'>http://www.autotrader.co.uk/CARS/motoring/hir/hl-1.jsp</a>

The value of the car to the value of the balloon payment was quite large in the lease companies favour so we just handed the car back :)

We now have just opted for a good old fashioned bank loan now which means at the end of the day once the loan is paid off the car will be ours ;)

But Lucy, at the end of the bank loan, would you keep the car or would you go ahead and get another?
I can see the point buying if it was my intention to keep the car, but I never do :rolleyes:
At least, if I lease it, I'll get a new one every two to three years and not have to worry about the car being worth less than the outstanding finance if I want to trade in earlier than I should, because either way I'm going to have payments, be it lease, bankloan or hp
But if I intended to keep it, I would definately go for the bankloan or the hire purchase
Sharon
X

Hi Sharon

Bear in mind that with a lease there may be financial penalties for handing the car back before the end of the agreed lease.  Mine has this written into the agreement; there is what starts as a substantial cost early in the lease and which then goes down by increments throughout the length of the lease.  So if you got bored of it too soon it would cost you a lump sum to give it back

Lesley

Balliesmum you are frightening me ;-) 

I think your husband needs to put the lead back on your ;-) LOL ( Just kidding BTW)

Right think about it sensibly.. if you pay £380 per month  now and buy it and after 4 years you will have a car worth X amounf of money so you can trade it in. Say the trade in value of your car is £10,000  next time you payments will be a lot less because you have a trade in so the amount owing will be less. So next car is £18,000 for example less the £10,000 you will only finance the £8000.  This would or could half you next lot of payments.

If you lease it will always be the same. payment and you will never own a thing.

What happens 5 years down the road if you can't afford to pay £380 a month. You will have to give the car back.

If you own it at least you can sell it clear off any finance and buy a cheaper car with the surplus of money beween what the car is worth and what you owed.

There is no logical way to lease a car UNLESS you have a business that you can off set against taxes.

Going to be blunt here BUT I think you are certainly are letting your heart rule your head ;-)

No, I've finally made up my mind :rolleyes: I've decided that I'm going to buy!!
I'm going to take it over four years, so it'll definately be worth more than any outstanding finance, be it HP or loan, if I decide to sell it earlier than I should, which with my track record is a good thing
Oh how well you know my hubby! He was threatening to use a leash on me to STRANGLE me ;-)
Now I've just got to keep searching until I find the one that says Buy Me!!
Sharon
X
Maybe I'll win the lottery tonight and I can look at Lamborghini's.................. better not go there ;-)

If you have the finance from the dealer (assuming your buying brand new ) then in most finance contracts there is a clause called VT Volutary Termination. This means that you can give the car back as long as you have paid at least half of the amount you had on finance including intrest, Yes you will be without a car but if your having problems with it then it does come in very handy. Were doing this in April as the car we have (used for work though) has had nothing but problems and has had some very expensive repair bills shouldnt be getting those kinds of bills seeing its only 2 years old but because were high mileage users warrenty is all used up so we will be glad to see the back of it. I would see who will give you the best deal rates wise and try to put a deposit down seems to help them get their figures to a level where your happy as well as them.

Thanks Sonny
X

Now then Sharon, we've persuaded you to buy rather than lease, so now it's time to persuade you that you really don't want to be looking at a brand new one because as soon as you drive it out of the garage it will lose value due to depreciation   Look for one with just a few thousand miles on the clock; practically new but much better sense financially ;)

Bet you wish you'd never asked now and just gone out an leased something flash :D :D :D

Lesley

Yes exactly , that is what I said in err lets see post 1 or 2 ;-) :-D

Buy 1 year plus old and buy wisely..

I think we will have to take her in hand ;-)

:o sorry Blue,  missed that on your earlier posts!  Yes, we will need to take her in hand :D  Now then Sharon, listen to your Aunties Blue and Lesley :D :D

Better still - buy an old banger and then save up until you can pay cash for a car :D :D Do it the old fashioned way :D

Daisy

Oh Daisy, Daisy .... that's far too hard
Save.. me...impossible
Well I have bought one today, black, almost 2 years old, gorgeous ;-) and
I got it for a great price.
Auntie Blue & Auntie Lesley - are you not proud of me :rolleyes:
Ta muchness,
Sharon
X

Yes Sharon we are very proud of you indeed :)  In fact, your being sensible and not buying a brand spanking new one or leasing one has made you our favourite niece :D :D

Enjoy your car :D

Lesley

Thanx Auntie Lesley, you're a star......