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High mileage lease car

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Darbyand
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High mileage lease car

Post by Darbyand »

My work pattern is changing in the New Year and I'm looking to lease a nice car that will spend a lot of time on the motorway (c.2,000 miles a month). The problem is I know very little about cars so am struggling to put together more of a brief than that for anyone reading this post. Budget circa £300 a month incl VAT. We already have a Zafira family car replete with car seats/scratches/suntan cream handprints which I'll keep as local runabout and for family holidays....but I do still want a 4 door for the new one as from time to time I'll ferry the kids around in it.

Any ideas/further info needed? Any tips on the leasing minefield...better to deal direct with manufacturer when decided on a model or go via a leasing expert?

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Zimmerman
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Re: High mileage lease car

Post by Zimmerman »

I'm not sure lease cars lend themselves to having 24k a year on them.

Most (although haven't looked in to it for a few years) penalise you for whacking mileage on.

Are you not in a position to buy something?

A golf tdi or passat (if you want something bigger) with 100k on the clock could be picked up for <£5k and would be good for 200k miles.

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Darbyand
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Re: High mileage lease car

Post by Darbyand »

I need something new. The work is time critical so needs to happen on the day it's scheduled (within reason). We've lost a bit from car break-downs in the past and of course hefty repair bills.

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murf
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Re: High mileage lease car

Post by murf »

Zimmerman wrote:I'm not sure lease cars lend themselves to having 24k a year on them.
Most company leases will be for about that mileage so the lease companies will be well set up for it.

No idea about private leases but with company ones you go on a contract with an expected mileage and are charged accordingly - with penalties if you go over (think I'm on 3 years / 75k). Don't ask me about prices etc as I'm not involved in paying for it!

You can often get better deals for popular makes/models that will hold their value as you are basically being charged for depreciation rather than cost. Things like BMWs and Audis can therefore be relatively cheap for their list price.

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unc.si.
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Re: High mileage lease car

Post by unc.si. »

Been looking for a runaround for the missus and thinking of leasing. Only looking at 15k miles but Merc A class, A3's and BMW 1's come in at around the £300 mark with Golf's and Leon's between £250 to £300.

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tommymooney
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Re: High mileage lease car

Post by tommymooney »

Just a thought, have you considered borrowing the money as a personal loan at around 4% interest and then owning the car? At least then whenever you are done with it the residual value is yours.

buy a nearly new diesel Focus for £10k:

http://www.autotrader.co.uk/classified/ ... 268510242/" onclick="window.open(this.href);return false;

payments about £300 a month, but in 3 years with 100k miles on it will still be worth, I don't know, £3k?

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murf
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Re: High mileage lease car

Post by murf »

tommymooney wrote:Just a thought, have you considered borrowing the money as a personal loan at around 4% interest and then owning the car? At least then whenever you are done with it the residual value is yours.

buy a nearly new diesel Focus for £10k:

http://www.autotrader.co.uk/classified/ ... 268510242/" onclick="window.open(this.href);return false;

payments about £300 a month, but in 3 years with 100k miles on it will still be worth, I don't know, £3k?
Add on servicing costs, tyres, windscreens (+ insurance??)

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tommymooney
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Re: High mileage lease car

Post by tommymooney »

Yes. A google around looks like Which do some comparisons on Buy v Lease on some popular cars if you sign-up

http://www.which.co.uk/cars/choosing-a- ... s-leasing/" onclick="window.open(this.href);return false;

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