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contract hire/car leasing

Discussion in 'Personal' started by anon1369, Jan 21, 2011.

  1. I am super fortunate that a family member has offered to get me a car on contract hire for a couple of years as a present. This is due to my car being written off in a car accident and me being unable to afford a new one with the pennies I have been given for it as it was rather old.
    Obviously I have been given a price limit but as I am contacting companies I find out all the good deals have shot up in price due to the VAT rise.
    Can anybody recommend any good websites or companies? I have spent hours on google but there is too much to search through. Also, as I am only looking for a 2 year deal most prices are quoted for longer deals.
    I am in the NUT but I don't know if this will entitle me to discount anywhere.
    Thanks in advance.
     
  2. I am super fortunate that a family member has offered to get me a car on contract hire for a couple of years as a present. This is due to my car being written off in a car accident and me being unable to afford a new one with the pennies I have been given for it as it was rather old.
    Obviously I have been given a price limit but as I am contacting companies I find out all the good deals have shot up in price due to the VAT rise.
    Can anybody recommend any good websites or companies? I have spent hours on google but there is too much to search through. Also, as I am only looking for a 2 year deal most prices are quoted for longer deals.
    I am in the NUT but I don't know if this will entitle me to discount anywhere.
    Thanks in advance.
     
  3. Hi, afraid I can't be of much helo as I've got my car over 3 years and I got it when they were knocking £2000 off for swapping your old banger. I think it is possible to get a lease over 2 years but 3 years is normally the minimum people go for. The monthly payments will be very high over 2 years I would have thought. I've got a Fiat 500 worth about £10,000 which I got for £8000 with the discount. I pay £150/month over 3 years.
     
  4. Sorry - 'help' not 'helo'
     
  5. It's pretty much the dearest way to run a car!
     
  6. yup.
    I wouldn't lease a car. The big nasty shock comes after 3 years.
    Great as company cars, not as private cars.
    IMO, of course [​IMG]
     
  7. As John Paul Getty said, " If it appreciates, buy it. If it depreciates ,lease it." There a lot of good three year lease deals out there and as average hatchbacks can depreciate by at least 60% by the beginning of the fourth year (What Car Magazine) it would be madness not to look very closely at leasing.
     
  8. But you need to be very careful about the contract - the mileage, the "Restwert", etc (sorry, can't think of the English word for Restwert) otherwise you end up paying an arm and a leg after the 3 years over what you would have paid with a normal bank loan.
     
  9. blazer

    blazer Star commenter

    I lease mine through these people
    http://www.lease-hire.co.uk/

    When I was getting quotes they were the most competative. Their are various deals. I know you are not piking up the bills but all the companies ask for a 3 month payment up front. make sure you tell them the real mileage you are going to do as the quotes on the screen are often for 10K or 12K.

    When I took mine out in 2008 I reckoned the leasing deal has saved me about 4 grand over the cost of buying new then having a 3 year old car worth only a tiny fraction of the purchase price.

    The lady I deal with is Lauren Greenhalgh <lauren@lease-hire.co.uk>

    She is very helpful.

     
  10. I lease through Peugeot. I had my first one and was worried I would get a massive bill at the end as I had gone way over my mileage. However, I still had equity in the car once they had taken their guaranteed price at the end of the term and was able to use this to pay the excess mileage. I then swapped the car for a new one. For me, the scheme works very well.
     
  11. If you are under the mileage you are also up s.hit creek without a paddle.
    My ex BIL had a very large leasing company (which he sold for several million, jealous, moi?) and he always said leasing for the private man is an asset for me, it is mug's game for the leasee as they lose, I win.
    I have looked into the whole leasing thing and I am still of the opinion, you are better off getting a bank loan.
     
  12. Thanks for all the responses. As I said this is only a temporary measure for 2 years and I will not be paying for it. There would be no MOT or tax to pay leaving me with just insurance, petrol and repairs (fingers crossed there wouldnt be any!)
    I have found a brilliant deal for just over &pound;100 a month which seems very reasonable. The person who is paying for this also has a leased car and would not do it any other way which is why they have given me this option. After the two years the car will go back to the leasing company and I will be responsible for finding and buying my own car. So at least I have got a bit of time to get myself sorted!
    I don't think I myself would lease a vehicle if I were paying it myself nor would I buy brand new. However, as its not me paying I havent really got an option and this is how they want to do it, so I'm more than happy to go along with it. As I said, I am extremely lucky!
     

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