Conor:
yourhavingalarf:
trevHCS:
If its a personal lease then he’s the one stupid enough to get one under that.
Personal leasing avoids…
The massive depreciation that occurs with new vehicle full purchases.
No it doesn’t. The car still depreciates the same as one bought any other way. How do you think that is funded? Also you’re getting it with other people’s money being put upfront and
There is a larger chunk of depreciation to take into account when buying vs leasing from one of the big boys. The bigger leasing companies will have agreements with HMRC to reclaim the VAT on cars where little ones and those buying, even if for a business, cant.
So the minute you buy a brand new car and drive it away its worth 20% less than it was becasue you cant recharge the VAT.
As for all the above prattling on about how a leasing price is formed its simple.
E.g.
Car list price = 20,000
- Estimated future value 7,000
= depreciation of £13,000
Total cost = £15,433
Now depending on the lease you are on you will probably either be on a 1x35 or a 3x35 so either:
Congratulations sir your new car is a deposit of £428.69 followed by 35 months at the same low low price, can i get you a pen?
or
Congratuations sir, your new car is a deposit of £1281.39 followed by 35 months at the stunningly low price of £406.13.
The flip side of the argument is owning outright and unless you have heavy deposits available 0% is hard to come by and i’m assuming interest rates of around 6% ish so we go instead:
£20,000 - 1000 deposit = 19000 x 0.18 (6% x 3 years) = £3420 +19000 = £22,420 /36 = 622.77 per month. Total amount payable £23,419.99.
Now of course you have the same £1030 of additional costs built in that the leasing company has so in this very bare bones example the Total Cost of Ownership is £24,449.99, £9,016.99 more expensive than leasing a vehicle over the same time period but you have to consider three things:
- what have you got at the end of the agreement? A car worth more than 7k or several weekends looking at buildings full of grey dull saloon cars trying to find something you like for another three years of £450 a month.
2)If L Easing Ltd are pricing based on a future value of 7k, they probably think its going to be worth at least 8.5k at the end of the agreement. Its a cliche but true, when I was selling cars at least, that 1 lady owner sold a lot quicker and for a much better price than the cars that we bought at auction when WeBuyEmYouBashEm.com defleeted their cars.
- Unless you work for a big company who can afford to pick up for the employees mistakes, as mentioned above, you will be panicking in the last weekends of the lease trying to get dents pulled out and scratches smarted in and ■■■■■■■■ yourself over the 6.5ppm excess milage charge on the car which you had on a 15k p/a lease but you’ve done 57k in since you got it and are now facing a £780.00 bill. With ownership if it gets dinged, you can get it fixed in your own time, and if you go over mileage, the only time it could hurt you is while you are on the initial finance package, because you might find yourself wrong way if you need to sell it and have done mega miles, its worth 9, you owe 12 etc.
As for the OP, stuff happens, if you are in and out of tight places all the time sometimes it goes wrong.
There are however three things which, with a half decent bloke in a wig, you might be able to use to turn the tables. At least, they indulge my petty need to spite the idiots that make our job harder every day.
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Its in the customers site, which is private land, which means insurance doesn’t apply.
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The muppet in question parked his car right next to the Loading Bay, which by definition will have large vehicles on and off. He could and probably did foresee the issues and still parked there. Thats contributory negligence, fix it yourself chump.
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Its a customers premises, there is insufficient segregation between private vehicles, pedestrians and commercial vehicles. Representatives of the company didn’t try to warn you ahead of the collision but did chase you down after it to make sure that you owned up to your mistake…
I’m sure under the Health and Safety at Work Act 1974 these sites have an obligation to the health and safety of visitors? They have put you in that risky situation where all it takes is a moments loss of concentration from the driver of that audi and you are trapped between Vorspung Durch Technik and Eastbound and Down! Call in the HSA quick!!!
) to charge their drivers for any damage that they do. 