Car leasing
- Thread starter starplayer
- Start date
BorrisiaTeeth
Member
Exactly, just keeping on top of oil and coolent levels, + a £20 code reader from Amazon (a garage will charge you £50 - ££80 is for one code read) and a socket set from Halfords (for example) combined with some sort of device with YouTube and you can keep an old car running easily.
Environmentally friendly, and **** loads cheeper.
JustTheGent
Well-known member
The mentality behind driving a vehicle on lease or using PCP, etc is pretty common place. People sign up to a liability based upon their income and are willing to watch that money disappear. As this tends to be long term behaviour, the amount of money that goes by the wayside can often be huge. In some cases you might have several finance deals within the same household.
Vehicles from the last 15 years or so can last a really long time. But you've just got to do a bit of research and make sure the maintenance is right. A lot of engines will basically run forever if maintained, it's often electrics and unneeded technology that goes wrong. There's a sweet spot to be had, you want a vehicle modern enough so it has good protection from corrosion, but not too modern as they started applying technology that breaks and costs a lot to fix.
Vehicles from the last 15 years or so can last a really long time. But you've just got to do a bit of research and make sure the maintenance is right. A lot of engines will basically run forever if maintained, it's often electrics and unneeded technology that goes wrong. There's a sweet spot to be had, you want a vehicle modern enough so it has good protection from corrosion, but not too modern as they started applying technology that breaks and costs a lot to fix.
Acklam_Lad
Well-known member
Bit of maths for you…
I leased a car in 2020 for £340 a month. Brand new 10 miles on the clock. I got a service package included as a bonus for the 3 years I was leasing and of course 3 years breakdown cover as standard.
Insurance was 30quid a month and tax was included in the lease.
£370 and 36 months = 13320
After the lease I handed it back with no penalty and all that 36 months had cost me was two tyres… £220 quid
Total £13540
Just had a look on auto trader for the same car using that price point. Loads of cars available but they are all 4-5 years old, various mileage from 30,000 up to 80,0000.
I have no idea on condition of the running gear, suspension, breaks etc. I could literally drive one off the forecourt and run into massive bills. I would be looking at MOT costs and anything that brought up. I’d still need tax and insurance. So my equivalent of £370 a month is now £400 plus.
All for a 4-5 year old car.
Or I can start again with a brand new car on a lease under the same terms… £370 a month with the insurance and service pack.
Full warranty if it goes wrong
Tax included
No MOT
Full breakdown cover included
I know which I will be sticking with
YouAreMyBoro
Active member
It's horses for courses isn't it. We just bought a brand new car on finance. We had our last one from nearly new and ran it until it died. Well done the same with this one.
Personally I'd have got a year old car and saved a few grand on the depreciation but wife wanted new.
Acklam_Lad
Well-known member
Yeah it definitely is. I love cars and they are much more than just a box on wheels to me.
It’s down to personal choice and there is no right and wrong answers…. Just different options and you go with what’s right.
Just bugs me when I see people say it’s wasting money etc… it’s not wasting a thing. I’m paying for a service I am using and enjoying
Laughing
Well-known member
I love working on my cars. Saves me money and it is very satisfying.
The rx8 is in bits for a complete rebuild at the minute.
Also the rx8 is now worth more than I paid for it, much more. Not so much the mondeo.
BorrisiaTeeth
Member
Exactly this. As you say, it’s also very satisfying. And with YouTube etc anybody can do it (once you dig through the infighting and b1tching on message boards)
I got quoted £1k for my old (56 plate) 3ltr Hardtop z4 from we buy any car.
Still got it as obviously that was derogatory. Kept it in my grans garage which she cant even open the door of (fortunate position I accept)
Changed the rocker gasket cover and a general tidy up and it’s now worth roughly 10x that. Keeping it though.
Definitely horses for courses. If maintaining or doing up cars is your thing then go for it, I’m sure you can write down the numbers and justify it. If having a new car under warranty is your thing then go for it too, I’m sure you can write down the numbers and justify it.
YouAreMyBoro
Active member
2 days before I traded my car in the engine light came on. Was a coil pack issue, was quoted £200 to fix, figured out the part and the fix, did it myself for £56 and it took 15 mins effort. The trade in was only 1k so was pleased I could fix it myself. I love being able to fix my own stuff when I can, it doesn't feel as easy now as when I had my beloved old Nova though.
Glover_elbow
Well-known member
I couldn't think of anything worse than spending my weekend under the bonnet of a car. I remember the 70s when my dad and most other blokes would do it as a regular occurrence on the weekend out of necessity. Hassle free motoring is the way to go. A once a year service and no work in between.
Laughing
Well-known member
You need scanning software these days and the parts are more complex and interact with each other more so fault finding it's more difficult.
Couldn't beat the old ford x-flow for simple repair and maintenance.
starplayer
Well-known member
Can you still get Haynes manuals for modern cars or have they become defunct? I remember getting one for my Citroen GSA Club spècial. Not sure why as the only tools I had was a feeler gauge 
Angelmatty
Active member
A mate of mine few years ago was banned for 2 years
He started using public transport and walking everywhere
Now has his license back but hires a car for few days when needed he said crazy but the best thing ever to happen to him was the ban.
Saved a fortune and now says you only really need a car for a few days here and there if you plan correctly
Glover_elbow
Well-known member
It all depends where you live not really practical in the north east but big citys like london Birmingham then public transport is king
Angelmatty
Active member
Agree he does live in Darlington and uses the train a lot