Good video. I wish I had this information when I first started leasing 11 years ago. I’m on my fourth lease car now which is due to end in August. I’ve learnt a lot over that time. A couple of things you didn’t mention that I think are important if leasing. 1. Take out GAP insurance which covers the the difference between the insurance payout and the remaining lease payments if the car is written off. 2. Take out separate insurance for body damage and wheels if they are alloy. I paid about £350 for the 3 year lease period for both and on my last car it needed a repair for a dent on a crease line before it went back that would have cost £500 and repairs to the alloy wheels for the inevitable kerbing that would have cost me £100 per wheel so the insurance was well worth it. The one downside with leasing is if you want any extras on the car. You end up paying the full amount for those which is spread over the lease period. For instance, if you want a tow bar fitted and it costs £1000 then that amount will be divided by the number of the months of the lease deal and added to your monthly payment so you pay for it in full but don’t keep it when the car goes back.
Thanks, I cover off the gap cover in another video actually. I think the damage insurance is not that great a deal if I’m honest. Smart repairs and even lease company repairs are so much cheaper these days so I think most normal issues could be resolved for the the £350 in fairness (and they may not happen). My last long term car cost me £60 to refurb an alloy and £45 for a mini valet and I’d done 64k in it. No charges from the lease company. Thanks for watching and joining in 👍👍
My family have leased 8 cars in the last 10 years. I'm on my 4th since 2013. I am unlikely to buy again. Leasing is so much less hassle and if you get the right deal, cheaper too
Great video as always - makes total sense to lease. Just taken delivery of an A4 Avant 40 TFSI for £390 a month on a no deposit deal - 8000 miles over 4 years. Have recommended this channel to loads of people who can’t see the benefits of leasing. Keep up the good work and great content!
Great video. The PCP v Lease example is a real eye opener. I own a 19 year old car from new which I’ll need to replace sooner than later. With 2030 looming the surety of leasing is very appealing. And if I keep another car that long I’ll be 76!
@@DefinitelyNotAGuru Do you offer any private advice? I am a novice at cars and need some advice for next car purchase or cheapest options. All my friends are boy racers and rather not ask them about financial advice or family cars etc.
listening about the allow wheel.... made me go nope... happy to stick with buying and owning my car but its a brilliant idea for someone who is doing low milage and needed a car for a short time. 100% has opened my eyes :) brilliant video btw bud
Thanks very much. They’ve become a lot friendlier with damage of late, I did a video on it a while ago. I guess they’ve finally been properly regulated so have to act reasonably now. Thanks for the support and for commenting! 👍👍👍
@@DefinitelyNotAGuru As i'm going to be buying for re-selling i'm going to stick with my £3-4k buy my focus and rack up them miles haha! But its a massive eye opener for my wife possibly but she loves the Fiesta S we bought haha thought it might put her off being quite boy racer but she loves the leather seats heated seats and the spec £3.7k well spent haha.
We generally own one car (to run into the ground) and lease the other although I’ve had a company car for a number of years but all that changes next week. Video coming on Monday about that!
Why would you lease a car where you have early exit payment fees, servicing, tyres, excess insurance costs and fear of damages and excessive repair costs and so on. I'd prefer to buy a car and sell in three years given the chip shortage for the foreseeable future.
All the things u say you have with any car exc early exit fees but that's simple. ...don't exit early I'm on my third lease and , to be honest, this time , as I'm heading towards retirement I considered pcp on a second hand car but when I compared I could get a brand new car for £30-£40 a month more.
I think Leasing is the way forward but for peace of mind always inc Servicing within the payment,because if you can afford it you’ll probably be able to get yourself a better spec car than you would normally be able to afford, but do make sure you don’t skimp on your mileage expectations… The pricing of cars nowadays especially Electric is crazy and build quality…. well…, it makes A stronger case for Leasing. Enjoyed the video and your opinions and have just subscribed. Btw got lucky 2 yrs ago , bought a Nissan Xtrail heard about the chip shortage and sold it 6 mths later for £5k profit.
My only concern is the post lease inspection. Do they try and make money or are they fair. Mine is 4 years at 16k miles, it will have stone chips and scratches.
Best value fir money is to buy used after exponential downward depreciation curve flattens, usually 3-5 years, then resell after 4 years, you end up losing 10- 15% of used price you paid, if it’s a sought after vehicle e.g. used f10 M5 2016 will lose £12,000 - 15000 after a 36,000 used price, that’s about £4000 a pear fir a great car.
And you know that oil changes are properly made when you buy recent car. After 5 years and multiple owners, service is discontinued, multiple different workshops, you never know. I just buy a recent one, keep it for 4 or 5 years and GIVE it to my relatives, because i know its well maintained
Totally agree with you ,you payments on a lease will be cheaper than an hp or pcp as they are called now and if you put 10% deposit on a pcp deal and pay a monthly cost the car is depreciating daily anyway so the balloon payment is top value even if the vehicle would turn out to be worth less.remember when you get a deal on a new vehicle there is also VAT added to the actual price which is 20% which you cannot reclaim back and the average depreciation on most cars is approximately 60% nowadays .
I don't spend any more than 3K on a car, keep them for at least 5 years and have never faced any costs apart from routine servicing. Perhaps I've just been lucky.
I was looking at buying my own car at one point but it made more sense to lease. Didn’t want to own something that would depreciate massively. Even if I sold my car after 3 years, the amount of money that it would have cost in that time would have been more expensive than if I had leased for 3 years
As I mentioned in a previous video of yours, we're about to start our first lease. One thing I hadn't considered until now, and which you'll probably be able to advise is; How do you marry up / align the end of your lease, given that it's a fixed term, with the start of a new lease, considering that factory orders can be hit-and-miss on accurate delivery dates?
It’s difficult at the moment but ordering in plenty of time is usually the way to do it. I’d suggest that things will have improved by the time the next one is due so start looking with 4-6 months headroom and you should be ok.
Make your required delivery date very emphatic up front and that you are handing back an existing lease, they can get a car in 10 weeks early and hold it. My merc was a factory order during a model changeover (2020 smiley grill to frowny grill) which caused delays but when I stated I was not prepared to extend the lease of my current car, the supplying dealer loaned me a car for two weeks which we then just swapped over.
I always want to drive new cars as they are more up to date more reliable rather than a car that is continuously degrading and also still costing money after its been paid off due to the depreciation, also I claim a lot through my business as an expense as my car is below the 50 grm km and this is very significant tax saving, for me it's a no brainer and unfortunately I need a good car as I do long trips so it's necessary expense, if it wasn't for that I would use the bus!
Yep. If you look at my more recent videos I’ve done a big car leasing explained video which should answer most of your questions a bit better than this video does 👍
Hmm food for thought , thanks . question: with a pcp you get a gmfv which lately ( due to higher than imagined second hand values) means you may well have a few more grand in equity to put towards next deal. You wouldn’t have this with leasing.
Have a look at some of my other videos where I do direct comparisons (the difference is often HUGE) and then consider what used values might look like in 3 years time, not what they look like right now 👍
Great video, all subscribed 👍🏼 Do you recommend certain sites to find these great deals and can you cover a video of timing your lease car? So how easy is it to gage when to order your next lease when current one is due back. Have you ever been without a lease due to delays, best workaround if this happens? ( sorry so many questions) keep the updates coming
Thanks for watching Shaun. I suggest using the comparison sites like LeaseLoco, Leasing.com, WhatCar Leasing. I don;t think there's a specific time to look for deals, if you're not fixed on a particular car you will always find a great deal. If you're without a car due to delays you have a few options 1) extend your existing lease for a few months, 2) see if the lease company has something similar in stock which they can do a deal on for you, 3) do a car subscription for a few months, 4) buy a cheap runaround for a little while, 5) see if the lease company can get you a cheap hire car. Check out my back catalogue as there are several existing videos that will help you I think.
I have been trying to lease a car through lease loco is it normal for leasing companies to advertise misleading price and make excuses as system error and it was for different colours
I just buy a 3/4 years old cars with big mileage (so prevopious owner was cruising highway). Toyota/Honda/Recent Maza are the most reliable . But some german cars are fitted for highway drive, don't buy any german car who made city drive in warm countries it never holds those 2 things. Go Japanese instead.
What happens at the end of the lease when you want to lease another car. Is there a period in between the old car is collected and new one delivered which then leaves you without a vehicle for a period of time?
If that happens you can usually extend the lease until the new one comes (if you get the new one from the same company), otherwise order early and tell them up front the date that you will need the car.
Vehicles are sauced from manufacturers, distributors and finance companies. You get exactly the same car as if you'd bought it from a dealer and still use your local dealer for servicing, earranty issues etc. The brokers on LeaseLoco are all vetted and work under FCA rules and guidelines. Most make very little per lease so do large volumes of leases (which also helps them secure better prices).
Thank Jim . I already lease a vehicle which I leased from a dealership,the car I leased was in there showroom in the colour and spec I wanted. The lease ends in about six months,i your opinion when should I start looking for another deal ,as I don’t want to be left with out a car. Thanks again.
@@davidlloyd498 you should start looking right now, most brands still have long waiting lists for deliveries. Your current provider will most likely let you extend your current arrangement on a month by month basis so you’re not left without a car if it comes to it but if you get looking now then you’ll probably be ok.
Hi I have watched your video on leasing a car can you pay the total lease cost upfront say 250 a month x36 months 9000 + 3 months up front 750 total 9750
I purchased a Toyota van 26 years ago for £12000 and its done 210000 miles and still got it.I also go a Landrover 17 years ago, done 75000 for £30000 and still got it.???
I like the idea of leasing but ten thousand miles a year isnt enough I would have a new car on the drive then end up having to walk evewhere not take trips to the coast in summer etc to keep the miles down
I paid £7k for a two year old Vauxhall GTC automatic 6 years ago. It has cost me absolutely nothing apart from the usual tax / insurance / MOT / petrol / oil and servicing. So for three years lease costs, I have bought my own car, kept it for SIX years and it is still worth at least half of its price all day long.
I paid 2k for an 8 year old Mitsubishi Colt automatic in 2015 and am still driving it today. In 8 years all it's cost me is fuel, tax, servicing, consumables, etc. So for 6 months of lease costs I've driven it for all these years and can still sell it for £500 with a year's MOT. You can make any number of these sort of comparisons but they're not very useful as you aren't comparing like for like. For me, leasing is an option to consider if you want to buy a brand new car, have relatively low annual mileage, want to stay on mfg warranty and MOT free during your use, and it's a car that may not hold its value particularly well. The more you diverge from the above, the less likely it is that leasing might be for you.
Hear me out… Say I’m going to get a personal loan, 25k at 7% for 5 years, so say around £450pm Would I not be better to take 25k of equity out of my mortgage (3% rate) and then make overpayments to my mortgage of £450pm…
Could you expand on that at all? I understand the negative side of compound interest working against you but if you pay it off in the same time as a personal loan you have basically just got a personal loan at the rate of your mortgage
@@samgains8388 you’ve answered it yourself. Compound interest. Mortgage loans tend to be one of the most inefficient ways of borrowing, especially for a depreciating asset. Do some googling and you’ll soon see what I mean.
@@DefinitelyNotAGuru that’s only the case if you leave the extra amount on the mortgage for the entire term. Overpayments and clearing the additional within a few years allows you to take advantage of the lower rate
@@samgains8388 Sam, you know your plans far better than me, you asked if it's a good idea to borrow against a mortgage to buy a car and my answer is, and always will ben NO. If you think otherwise that's totally cool 👍
You'll pay more in the long run for a leased car than you will if you buy a car and keep it for years. You could face excessive wear-and-tear charges. just pointless makes no sense
Leasing is a fools game. You have a car that's worth £40K you lease for 3 years and pay around £13K after 3 years then you get a new car and do the same thing for another 3 years. Every 3 years you pay £13K and you have no car to show for it. It's a waste of money. It only makes sense if you're rich and you like having a new car every 3 years.
Or you could pay the £40k own a car for 9 years that will probably end up being worth about £5k - you'll have been out of warranty for probably 6 years, be paying road fund licence on it, buying tyres, replacing parts and getting it MOT'd for 6 of those years - it's a different way of doing things, each has their own merits but neither is a fools game. Leasing is massively misunderstood. If it's not for you, don't do it.
@@DefinitelyNotAGuru you're renting a car for your entire life and have nothing to show for it. You can pay 40K but you still have a car at the end. The amount you spend on maintenance is the same if you lease. You still have to service, pay for damages and tyres if you lease also. Only thing you don't pay for is an MOT which is £54 at best. If you service your car every year you won't need to replace huge parts
@@koba1556 It's just a different mindset mate, you can either pay to own a new car or pay to own a used one. There aren't too many 9-year-old cars that have never failed an MOT or had a new set of brakes, tyres, an exhaust, some kind of electronic sensors, a battery etc. Not to mention the rising cost of road tax. I'm not trying to sell leasing to you, nor do I care how anyone else chooses to spend their money, I'm just explaining that those who choose to lease are not "fools".
I have been offered a mazda 2 for no upfront payments and that is for one year before handing it back and getting another new mazda. I would be crazy not to do it for £169 with no road tax and no servicing costs
This guy need more subs... excellent content...I have more subs. My content is rubbish (apart from my daughter singing !!
I will check out your channel. Thank you Pablo 👍👍👍
Good video. I wish I had this information when I first started leasing 11 years ago. I’m on my fourth lease car now which is due to end in August. I’ve learnt a lot over that time. A couple of things you didn’t mention that I think are important if leasing.
1. Take out GAP insurance which covers the the difference between the insurance payout and the remaining lease payments if the car is written off.
2. Take out separate insurance for body damage and wheels if they are alloy. I paid about £350 for the 3 year lease period for both and on my last car it needed a repair for a dent on a crease line before it went back that would have cost £500 and repairs to the alloy wheels for the inevitable kerbing that would have cost me £100 per wheel so the insurance was well worth it.
The one downside with leasing is if you want any extras on the car. You end up paying the full amount for those which is spread over the lease period. For instance, if you want a tow bar fitted and it costs £1000 then that amount will be divided by the number of the months of the lease deal and added to your monthly payment so you pay for it in full but don’t keep it when the car goes back.
Thanks, I cover off the gap cover in another video actually.
I think the damage insurance is not that great a deal if I’m honest. Smart repairs and even lease company repairs are so much cheaper these days so I think most normal issues could be resolved for the the £350 in fairness (and they may not happen). My last long term car cost me £60 to refurb an alloy and £45 for a mini valet and I’d done 64k in it. No charges from the lease company.
Thanks for watching and joining in 👍👍
I have always bought second hand cars , your information has really opened my eyes into the possibility of a having a new car , thanks
Thank you 🙏
Really valuable and no BS advice. Thanks for taking the time to make these videos. Keep them coming!
Thank you 🙏
My family have leased 8 cars in the last 10 years. I'm on my 4th since 2013. I am unlikely to buy again. Leasing is so much less hassle and if you get the right deal, cheaper too
Thanks for sharing! 👍
Great video as always - makes total sense to lease. Just taken delivery of an A4 Avant 40 TFSI for £390 a month on a no deposit deal - 8000 miles over 4 years. Have recommended this channel to loads of people who can’t see the benefits of leasing. Keep up the good work and great content!
Thanks for helping to get the word out on the channel, much appreciated 👏👍
@Jonathon- that sounds like a cracking deal. Whereabouts did you take that lease from if you don’t mind sharing? 🙏🏽
Wow never thought about leasing b4. Thank you, I will look into it
Plenty of content on my channel to answer your questions 👍
Great video. The PCP v Lease example is a real eye opener. I own a 19 year old car from new which I’ll need to replace sooner than later. With 2030 looming the surety of leasing is very appealing. And if I keep another car that long I’ll be 76!
Thanks Rich 👍
19 years mate, good going! Good for the planet as well👍
@@Hellomynameis93 Thank you
going around watching all your videos, you deserve more subs!!
I know, right? You should see my social media followers, that's a much more depresing number! 👍
@@DefinitelyNotAGuru Do you offer any private advice? I am a novice at cars and need some advice for next car purchase or cheapest options. All my friends are boy racers and rather not ask them about financial advice or family cars etc.
@@TheFrazzyo not really but drop me an email
Great video and advice! Thanks. I have been trying to work out how to get my next car and this has really helped
Glad it helped! 👍
I've leased 3 cars and taken the maintenance package each time. Never paid more than £35 a month. It's great peace of mind
Great, it can vary massively so always deal dependent 👍
listening about the allow wheel.... made me go nope... happy to stick with buying and owning my car but its a brilliant idea for someone who is doing low milage and needed a car for a short time. 100% has opened my eyes :) brilliant video btw bud
Thanks very much. They’ve become a lot friendlier with damage of late, I did a video on it a while ago. I guess they’ve finally been properly regulated so have to act reasonably now. Thanks for the support and for commenting! 👍👍👍
@@DefinitelyNotAGuru As i'm going to be buying for re-selling i'm going to stick with my £3-4k buy my focus and rack up them miles haha! But its a massive eye opener for my wife possibly but she loves the Fiesta S we bought haha thought it might put her off being quite boy racer but she loves the leather seats heated seats and the spec £3.7k well spent haha.
We generally own one car (to run into the ground) and lease the other although I’ve had a company car for a number of years but all that changes next week. Video coming on Monday about that!
Why would you lease a car where you have early exit payment fees, servicing, tyres, excess insurance costs and fear of damages and excessive repair costs and so on. I'd prefer to buy a car and sell in three years given the chip shortage for the foreseeable future.
Great, it’s your choice mate 👍
All the things u say you have with any car exc early exit fees but that's simple. ...don't exit early
I'm on my third lease and , to be honest, this time , as I'm heading towards retirement I considered pcp on a second hand car but when I compared I could get a brand new car for £30-£40 a month more.
You can get maintenance packages with the car.
I think Leasing is the way forward but for peace of mind always inc Servicing within the payment,because if you can afford it you’ll probably be able to get yourself a better spec car than you would normally be able to afford, but do make sure you don’t skimp on your mileage expectations…
The pricing of cars nowadays especially Electric is crazy and build quality…. well…, it makes A stronger case for Leasing.
Enjoyed the video and your opinions and have just subscribed.
Btw got lucky 2 yrs ago , bought a Nissan Xtrail heard about the chip shortage and sold it 6 mths later for £5k profit.
My only concern is the post lease inspection. Do they try and make money or are they fair. Mine is 4 years at 16k miles, it will have stone chips and scratches.
Excellent content,will certainly consider leasing
Glad you found it useful
Thanks for this - really useful vid.
Thanks very much
Brilliant video mate, keep it up.
Very kind mate, thank you 🙏
I'm so glad I found you, definitely going to lease, so much sense, great work mate👍
Thanks Gary. Keep watching and tell your friends mate 👍
Best value fir money is to buy used after exponential downward depreciation curve flattens, usually 3-5 years, then resell after 4 years, you end up losing 10- 15% of used price you paid, if it’s a sought after vehicle e.g. used f10 M5 2016 will lose £12,000 - 15000 after a 36,000 used price, that’s about £4000 a pear fir a great car.
Much depends on the used car market and how reliable the car is.
And you know that oil changes are properly made when you buy recent car. After 5 years and multiple owners, service is discontinued, multiple different workshops, you never know. I just buy a recent one, keep it for 4 or 5 years and GIVE it to my relatives, because i know its well maintained
Totally agree with you ,you payments on a lease will be cheaper than an hp or pcp as they are called now and if you put 10% deposit on a pcp deal and pay a monthly cost the car is depreciating daily anyway so the balloon payment is top value even if the vehicle would turn out to be worth less.remember when you get a deal on a new vehicle there is also VAT added to the actual price which is 20% which you cannot reclaim back and the average depreciation on most cars is approximately 60% nowadays .
👌
Love those new A3's
me too
Great price for that car - wow! never realised quite what the deal was with leasing
That A3 is a great little car too
Useful insights. Thank you.
Thanks
I don't spend any more than 3K on a car, keep them for at least 5 years and have never faced any costs apart from routine servicing. Perhaps I've just been lucky.
Luckier thank me for sure 😂👍👍
Great video do you use a specific leasing company to source your cars? Or random garages dependant on model...
Just LeaseLoco these days (link on my website) as it’s a big comparison site and the companies on there are all vetted etc. saves hours of searching!
My 12 years old car costed me £3k to maintain and repair (this year alone). Wish I had leased for the past two years.
👍
I was looking at buying my own car at one point but it made more sense to lease. Didn’t want to own something that would depreciate massively. Even if I sold my car after 3 years, the amount of money that it would have cost in that time would have been more expensive than if I had leased for 3 years
Leasing is a great affordable way of getting into a new car. The A3 I use in the example here is a great car in a very nice spec.
As I mentioned in a previous video of yours, we're about to start our first lease. One thing I hadn't considered until now, and which you'll probably be able to advise is; How do you marry up / align the end of your lease, given that it's a fixed term, with the start of a new lease, considering that factory orders can be hit-and-miss on accurate delivery dates?
It’s difficult at the moment but ordering in plenty of time is usually the way to do it. I’d suggest that things will have improved by the time the next one is due so start looking with 4-6 months headroom and you should be ok.
Make your required delivery date very emphatic up front and that you are handing back an existing lease, they can get a car in 10 weeks early and hold it. My merc was a factory order during a model changeover (2020 smiley grill to frowny grill) which caused delays but when I stated I was not prepared to extend the lease of my current car, the supplying dealer loaned me a car for two weeks which we then just swapped over.
Nice video Jim. Has anything changed in 3 years apart from the prices?
Nope
Hi Jim, When on PCH contract and there is a major fault with the car... who picks up the tab for repairs & a replacement vehicle?
It'll be under warranty if it's a 3 year deal so manufacturer (local dealer) would deal with both elements.
We’ve got a great series on the best monthly deals we can find - check out episode one here ruclips.net/video/NK8Kji7SxMo/видео.html
I always want to drive new cars as they are more up to date more reliable rather than a car that is continuously degrading and also still costing money after its been paid off due to the depreciation, also I claim a lot through my business as an expense as my car is below the 50 grm km and this is very significant tax saving, for me it's a no brainer and unfortunately I need a good car as I do long trips so it's necessary expense, if it wasn't for that I would use the bus!
👍👍
Great video. What happens when your lease finishes and you want to get a new one. Do you pay deposit again?
Yep. If you look at my more recent videos I’ve done a big car leasing explained video which should answer most of your questions a bit better than this video does 👍
Thanks for the content. I might have missed this, but it's still your responsibility to insure the car, right? Or is it the leasing company's?
It’s yours 👍
Hmm food for thought , thanks . question: with a pcp you get a gmfv which lately ( due to higher than imagined second hand values) means you may well have a few more grand in equity to put towards next deal. You wouldn’t have this with leasing.
Have a look at some of my other videos where I do direct comparisons (the difference is often HUGE) and then consider what used values might look like in 3 years time, not what they look like right now 👍
Great video, all subscribed 👍🏼 Do you recommend certain sites to find these great deals and can you cover a video of timing your lease car? So how easy is it to gage when to order your next lease when current one is due back. Have you ever been without a lease due to delays, best workaround if this happens? ( sorry so many questions) keep the updates coming
Thanks for watching Shaun. I suggest using the comparison sites like LeaseLoco, Leasing.com, WhatCar Leasing. I don;t think there's a specific time to look for deals, if you're not fixed on a particular car you will always find a great deal. If you're without a car due to delays you have a few options 1) extend your existing lease for a few months, 2) see if the lease company has something similar in stock which they can do a deal on for you, 3) do a car subscription for a few months, 4) buy a cheap runaround for a little while, 5) see if the lease company can get you a cheap hire car. Check out my back catalogue as there are several existing videos that will help you I think.
I think you'll find buying a one or two year old car outright is the cheapest option.
Ok
What are your thoughts on leasing a preowned vehicle?
It doesn’t seem to make much financial sense to me, deals are very rare and monthly cost is often the same as on a brand new car.
Interesting, thanks
You're welcome
For car leasing, will they cover the MOT and maintenance?
If you choose a fully maintained deal (which costs more), it would also include tyres generally
I guess the only downside is that you're stuck with a car for a long time if you decide you don't want it or fancy a change - what happens then?
generally you have to pay back 50% of the remaining payments in order to hand a car back but you’d need to check your particular agreement.
Not really, as you can even lease for a year and it will still work out cheaper than buying a car when you split it monthly
I have been trying to lease a car through lease loco is it normal for leasing companies to advertise misleading price and make excuses as system error and it was for different colours
Yes but if you find a case of it make sure you report it to LeaseLoco
Who takes care of Insurance?
You
Don’t forget to like and subscribe 👍🙏
excellent advice, thanks a lot ! is it possible to walk away from a lease if my situation changes ?
Yes but it’s expensive, often 50% of the remaining payments.
I just buy a 3/4 years old cars with big mileage (so prevopious owner was cruising highway). Toyota/Honda/Recent Maza are the most reliable . But some german cars are fitted for highway drive, don't buy any german car who made city drive in warm countries it never holds those 2 things. Go Japanese instead.
Cool 👌👍
What if your credit rating isn't great?
It needs to be pretty good
What happens at the end of the lease when you want to lease another car. Is there a period in between the old car is collected and new one delivered which then leaves you without a vehicle for a period of time?
If that happens you can usually extend the lease until the new one comes (if you get the new one from the same company), otherwise order early and tell them up front the date that you will need the car.
@@DefinitelyNotAGuru nice one. Very informative. Thank you 👍
@@wojna1980 thanks for watching
Jim . How reliable are these brokers,and how do brokers sauce their vehicles ?
Vehicles are sauced from manufacturers, distributors and finance companies. You get exactly the same car as if you'd bought it from a dealer and still use your local dealer for servicing, earranty issues etc. The brokers on LeaseLoco are all vetted and work under FCA rules and guidelines. Most make very little per lease so do large volumes of leases (which also helps them secure better prices).
Thank Jim . I already lease a vehicle which I leased from a dealership,the car I leased was in there showroom in the colour and spec I wanted. The lease ends in about six months,i your opinion when should I start looking for another deal ,as I don’t want to be left with out a car. Thanks again.
@@davidlloyd498 you should start looking right now, most brands still have long waiting lists for deliveries. Your current provider will most likely let you extend your current arrangement on a month by month basis so you’re not left without a car if it comes to it but if you get looking now then you’ll probably be ok.
It seems like a great way of getting a new car for not very much money, is there a catch?
Nope
Are there limits on who can lease, such as age, self employed retired etc?
Not to my knowledge (18+ I guess) but you need a decent credit history.
Hi I have watched your video on leasing a car can you pay the total lease cost upfront say 250 a month x36 months 9000 + 3 months up front 750 total 9750
No
Why carnt you pay in full surely the risk factor for the lease company is less@@DefinitelyNotAGuru
Your monthly payment shows that you'd haven't buggered off to Dubai with their car.
I purchased a Toyota van 26 years ago for £12000 and its done 210000 miles and still got it.I also go a Landrover 17 years ago, done 75000 for £30000 and still got it.???
And 26 years of road tax, repairs, maintenance, depreciation and tyres. Not knocking you mate, there’s just more than one way to look at it. 👍
I like the idea of leasing but ten thousand miles a year isnt enough I would have a new car on the drive then end up having to walk evewhere not take trips to the coast in summer etc to keep the miles down
You can choose your mileage, doesn’t have to be 10k
@@DefinitelyNotAGuru yes but at a cost, probably to the point where it's not feesable
Is it a Personal Lease Purchase that you do?
PCH personal contract hire. PCP is not for me.
I paid £7k for a two year old Vauxhall GTC automatic 6 years ago. It has cost me absolutely nothing apart from the usual tax / insurance / MOT / petrol / oil and servicing.
So for three years lease costs, I have bought my own car, kept it for SIX years and it is still worth at least half of its price all day long.
Well done 👌
I paid 2k for an 8 year old Mitsubishi Colt automatic in 2015 and am still driving it today. In 8 years all it's cost me is fuel, tax, servicing, consumables, etc.
So for 6 months of lease costs I've driven it for all these years and can still sell it for £500 with a year's MOT.
You can make any number of these sort of comparisons but they're not very useful as you aren't comparing like for like.
For me, leasing is an option to consider if you want to buy a brand new car, have relatively low annual mileage, want to stay on mfg warranty and MOT free during your use, and it's a car that may not hold its value particularly well.
The more you diverge from the above, the less likely it is that leasing might be for you.
Car lose so much money if buying brand new so leasing is probably the best bet
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I just turned off at the point you get it valeted for £30 & it looks pristine before you give car back
Ok
So you want to hand it back untidy or dirty?
Hear me out… Say I’m going to get a personal loan, 25k at 7% for 5 years, so say around £450pm
Would I not be better to take 25k of equity out of my mortgage (3% rate) and then make overpayments to my mortgage of £450pm…
No
Could you expand on that at all? I understand the negative side of compound interest working against you but if you pay it off in the same time as a personal loan you have basically just got a personal loan at the rate of your mortgage
@@samgains8388 you’ve answered it yourself. Compound interest. Mortgage loans tend to be one of the most inefficient ways of borrowing, especially for a depreciating asset. Do some googling and you’ll soon see what I mean.
@@DefinitelyNotAGuru that’s only the case if you leave the extra amount on the mortgage for the entire term. Overpayments and clearing the additional within a few years allows you to take advantage of the lower rate
@@samgains8388 Sam, you know your plans far better than me, you asked if it's a good idea to borrow against a mortgage to buy a car and my answer is, and always will ben NO. If you think otherwise that's totally cool 👍
Great content m8 can you help. Do I need gap insurance?
I did a video on Gap insurance, search my channel and you should find it - all explained there. Short version is that it’s not a bad idea 👍
You'll pay more in the long run for a leased car than you will if you buy a car and keep it for years. You could face excessive wear-and-tear charges. just pointless makes no sense
That's a common argument made by people who don't fully understand the benefits of leasing and probably have a different ideas about car ownership.
You can't lease a car as a new driver can you?
I think so, as long as you’re old enough to
Just wayyyy to expensive atm
Ok
Why would someone dislike this video???? some people lol
Can’t please everyone 👍
, 👍
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Leasing is a fools game. You have a car that's worth £40K you lease for 3 years and pay around £13K after 3 years then you get a new car and do the same thing for another 3 years. Every 3 years you pay £13K and you have no car to show for it. It's a waste of money. It only makes sense if you're rich and you like having a new car every 3 years.
Or you could pay the £40k own a car for 9 years that will probably end up being worth about £5k - you'll have been out of warranty for probably 6 years, be paying road fund licence on it, buying tyres, replacing parts and getting it MOT'd for 6 of those years - it's a different way of doing things, each has their own merits but neither is a fools game.
Leasing is massively misunderstood. If it's not for you, don't do it.
@@DefinitelyNotAGuru you're renting a car for your entire life and have nothing to show for it. You can pay 40K but you still have a car at the end. The amount you spend on maintenance is the same if you lease. You still have to service, pay for damages and tyres if you lease also. Only thing you don't pay for is an MOT which is £54 at best. If you service your car every year you won't need to replace huge parts
@@koba1556 It's just a different mindset mate, you can either pay to own a new car or pay to own a used one. There aren't too many 9-year-old cars that have never failed an MOT or had a new set of brakes, tyres, an exhaust, some kind of electronic sensors, a battery etc. Not to mention the rising cost of road tax. I'm not trying to sell leasing to you, nor do I care how anyone else chooses to spend their money, I'm just explaining that those who choose to lease are not "fools".
@@DefinitelyNotAGuru fair play but paying for something and not owning it is a weird concept to me
Are you getting paid for this? not being funny, genuine question.
No so please like and subscribe 👍
It seems like a great way of getting a new car for not very much money, is there a catch?
no
I have been offered a mazda 2 for no upfront payments and that is for one year before handing it back and getting another new mazda. I would be crazy not to do it for £169 with no road tax and no servicing costs