I'm gonna have a look now for the idiots who can't handle it. See what I can buy for £3,200 that does 0-60mph in under 7 seconds, does 47mpg or more, costs £130 or less a year to tax, and has a 5 Star NCAP rating.

Lets see what I can find...

First up here's a BMW (WOW!): http://www.ebay.co.uk/itm/2003-BMW-330D-Manual-6-speed-M-sport-black-/141681671980?pt=LH_DefaultDomain_3&hash=item20fce2bf2c

Oh wait, it's done 160,000 miles. Oh wait it costs £225 to tax a year. Oh wait it only does 42mpg. Oh wait it's only got 4 NCAP stars instead of 5. Oh wait it costs a million pounds to service and will need an MOT doing. Hmm, it's also a 12 year old BMW, people will probably think you're a drug dealer and probably not even a very good one.

Okay, lets try again!

Next up here's another Hot Hatch: http://www.ebay.co.uk/itm/Seat-leon-cupra-1-8t-low-miles-/331570473448?pt=LH_DefaultDomain_3&hash=item4d3323e9e8

Oh wait, it only does 0-60 in 7.5 seconds. Oh wait it only does 33mpg. Oh wait it costs £290 a year to tax. Oh wait it'll need MOT every year. Oh wait this model is so old it doesn't even have an NCAP rating.

Okay, lets try again!

Let's try for another Hot Hatch: http://www.ebay.co.uk/itm/Honda-Civic-Type-R-EP3-2002-Black-/171811676020?pt=LH_DefaultDomain_3&hash=item2800c61f74

0-60 in 6.4 seconds? Check! Oh wait, it only does 31mpg. Oh wait it costs £290 a year to tax. Oh wait it'll need MOT every year. Oh wait this model is so old it doesn't even have an NCAP rating. And it needs a load of work doing. We nailed the speed though!

Try again? Okay!

We were close with a Hot Hatch, lets try just once more: http://www.ebay.co.uk/itm/2004-Renault-Clio-Sport-182-Anthracite-Wheels-A-C-Cruise-Control-Arctic-Blue-/281707978729?pt=LH_DefaultDomain_3&hash=item41971a9fe9

0-60 in 6.9? Check! Oh wait it only does 34mpg. Oh wait it costs £265 a year to tax. Oh wait it'll need MOT every year. Oh wait it only has 4 NCAP stars.

****! Sorry, I give up.

This sort of thread really gets me moist :smile:

For those who understand lease deals: Great deal, right? Might not be a suitable car for you personally, but no denying the financials! Good work, have a gold star. Feel content that you aren't being completely backward in refusing to understand differing points of view.

For those who DON'T understand leasing (and that appears to be a LOT of you):
* This is a NEW car, not used
* Depreciation on a new car bought outright will be MORE than what the lease cost is over 18 months on this car.
* No registration fee to pay on the car's first year of tax
* No VED to pay on new leased car
* Used cars a bit older will need MOT
* Both old and new will need a service!
* Old cars ... ALSO DEPRECIATE! Good god -no surprise there, so don't ignore it
* Buying a used car for £3-£4k requires £3-£4k of cash up-front (i.e. NOW!). That is money you need to either save, or tie up in your vehicle. A risk - especially if your valuation of your car is not what someone else is prepared to pay. It works both ways, however!
* Leased cars (new, I might add!) spread costs out over the term of the lease. This is called cash-flow. This is fundamental to business and life in general. Smooth cash flow, means a smooth life. No bottle-necks.
* Both new/old need insurance
* Old car bought outright means as much mileage as you like, but increased likelihood of repairs required for incremental mileage
* You can sell your used/owned outright car at any time. A lease is a contract. A contract is legally binding. They're not easy to get out of. Buyer beware.
* Both cars can make use of GAP insurance.
* Used cars are not the most recent model in many cases. Some people don't care and view cars as a simple tool. Others may require to be in a newer vehicle for work purposes. People have different wants and needs.

Golden rules for everyone:
If you can't afford the payments, don't do it!
If you don't want a NEW car, don't do it!
If you want to take the risks on buying a used car and the associated benefits of it being reliable and costing next to nil to maintain, before selling onwards, don't do it!
If you don't understand, don't do it!

Platinum rules for everyone:
If it appreciates, BUY IT.
If it depreciates, RENT IT.
n.b. there are occasional exceptions to the rule. Cars are not really one of those exceptions.

If you're still unsure:
Think of a holiday. You spend £2000+. At the end of it, you don't get to keep the hotel to sell on. Nor the swimming pool, aircraft or airport. You have nothing to show for it except a tan if you're lucky. You have had the benefit of enjoyment.

A car is not dissimilar. Lease deals are great for people who want new cars and don't want to tie up vast sums of cold, hard cash up-front. Plain and simple facts. Easy.

If you STILL don't get it:
Log out, and don't try and reply. Ever. On a lease deal. There is no hope for you.

tldr; these deals get hot for a reason. If you don't understand, put some time aside and try to, before spouting utter nonsense and garbage.

Life lesson:

2nd hand cars are cheaper to buy than new ones.

Sure glad I browsed on here tonight, that gem might have passed me by.

£3 for a sandwich?! And what do you have to show for it at the end? Trapped wind...

Go and buy a decent used sandwich from a colleague at work for a fraction of the price. Granary bread tends to be the most reliable and filling...

Ta OP.

Voted hot.

hot deal heat added

edited - should read entire post. lol. Good deal Op. Also - Similar deal here, but comes in at under 3K for a similar spec with 10K miles. http://www.gateway2lease.com/z_peugeot_208_e-thpgtiprestige3dr_16038_leasing.php#.VW32LtJViko

^^ Your right, you need to get a personal quote, got mine a couple of weeks back now for £145 a month. fee's took it just over 3K mark actually, just double checked. I think its a slightly lower spec than OP's though.? The low deposit on these deals appeals more to me as well.

Would you mind posting in more detail please? What payment profile etc.

Spec should be standard as per Peugeot website for the GTi Prestige 3dr.

Sure, Haven't really got any other details than a quote for 6 x 142 and 17 x 142.73 + £150 admin = 3428.24 Gateway couldn't confirm if Pan sunroof came as standard, and I'm still waiting to pull the trigger on one of these deals.

The pan roof and satnav comes as standard on the Prestige version, but not the on the standard Peugeot 208GTI.

BTW: Somehow, I worked it out at under 3K for the rental?? Duhh!! I must have been confusing it with another of the many deals I'm looking at. I'm also looking at / considering the LEON FR deal on Gateway. although this deal may be the one! :smile:

Nice one! I think I'm ALL-IN on this deal then. thanks OP. (Sorry - had to add to this post) This is an amazing deal! I missed the previous version of the similar deal on here, Just read through the comments, and that was pretty damn good. This is just ridiculous. Thanks Again.

Heat

Hasn't this deal been posted once before with other web site also posted in the comments ?

I've just bought a car otherwise I would be all over this.

Better these to lease jobbies than buying, especially if you choose finance.

Nice one op! I'm finding it too hard to resist! Just submitted for a quote and hopefully will get one! The wife is going kill me... The conservatory will have to wait!!

Incredible deal. Can't believe how cheap this is.

166+166+199= £531
not £3196.36
£2665.36 is unaccounted for......

good deal this, do you have to pay insurance also and tax? and tyres?

1+17 is coming up at £149.83 for me incl VAT.

Am i missing something or has it got even cheaper?

I could be wrong but this should be the newer 2015 face-lifted model that is 208bhp, the older 200bhp version did 47.9 mpg the new one (208bhp) is called the e-thp and does 52.3 mpg as quoted on the lease website.

Think you guys should wait and give them a call, they have in their search facility Morris minors, itals, and 1100 :smiley:

lease! to pay someones wages...if that's what you people are into...that's fine by me

Buy a car privately - maintain it yourself with the cheapest parts - resell when done - very little middleman involved there.

Of course you need to be able to check-out a car, maintain a car, sell a car - but hey, everyone learns somehow ;0

Maybe I should have qualified that statement with the word new :smile:

And your talking to someone who keeps a 407 on the road single handed and believe me, its no fun, too tight to change it at the moment though :stuck_out_tongue:

What a useless post...

This is the "new" (if you can see much difference) 208 - http://www.peugeot.co.uk/media/new-peugeot-208-prices-and-specifications-brochure.pdf bottom of page 4

What a useless post... again!

HEAT + SOME!

One of the best lease deals have seen in a decade! :man:

Will apply for this tomorrow, not heard anything from my application to the other company...

seems good

Exceptionally good deal. Shame it's only for 18 months.

A lot of people don't have £5-10K or whatever lying around to get a "decent" used car and if you are inexperienced, you may end up paying much more than you need to.

tease = taking the depreciation hit for someone else, so they can sell on at a profit.

Not for me, but i'm sure plenty who like money to run through their fingers will snap them up.

3k for the use of something for 18 months? no ta

there's no way in hell you need to spend 5 - 10k to get a 'decent' car.

It always makes me laugh when you see 18 year olds in new cars like this, its the height of stupidity, and the start of a painful debt riddled life.

I get all the arguments about a well bought used car (that's what I've always done), but people need to understand that this is for a BRAND NEW car with a list of £20K so by all means bring on the comparisons but only if they're LIKE FOR LIKE people. This is a fantastic deal... for comparison purposes only I showed my local Peugeot Garage yesterday (Sunday) this deal and they said they could get ABSOLUTELY NOWHERE NEAR IT using PCP, HP or Lease plans. This deal (and the previously submitted one) are both HOT TO TROT..... Yes it isn't for some, but you spends your money...........

Life lesson:

2nd hand cars are cheaper to buy than new ones.

Sure glad I browsed on here tonight, that gem might have passed me by.

You may not have noticed, but interest rates for savers are naff all at the moment! The amount of interest you'd make on £3200 over 18 months isn't enough to make a significant difference.

worth the money I say

I remember the days when only minis where he luxury hatchbacks

Were the*

You could earn about £270 in interest on that amount over 18 months.

Heat for the spec alone

That sounds ambitious but if it's true that's a nice bonus to go alongside the 'and there's no danger of being left in deep debt over a lease' too

I don't think you are the right type of person for lease purchasing. The whole point is to buy into a small piece of the whole cost. If you want a new car then you do it this way. If you want a second hand car then you take out the same amount of money and buy outright. However that second hand car could cost you more than this in the end. You also have the piece of mind that the lease vehicle will give you trouble free driving and if not then it will be replaced or repaired quickly. It makes perfect sense if you are in the market for a new vehicle but don't want to be contracted into the WHOLE price.

Let me tell you a story which I think encapsulates this issue - I know 2 people, newly living together, both work in the same call centre, both have new/PCPd cars, both cars needed work they couldn't really afford so they came to a mechanic I know to get it "done cheap" (and he'll wait for payday to get paid).

He challenged them over their cars - why are you spending all this money, I could put you both into tidy cars which would cost less a YEAR than you're spending a month on these things.

He was keen enough - but she said no because

"People at work would see I'm driving an old car and I don't want people to see me driving an old car and I don't want to get into an old car when he's driving either"

"But you can't actually afford these cars, you cannot afford to repair them, you're here having it bodged!! - wouldn't you rather have 2 cars and some spare cash??"

"No - I like having a new car"

Fine - if you can afford it - ruinous if you can't.

Just 10k miles for 18months :confused:
I hardly drive long distances, unless we go away for the weekend. However even I do 10k a year alone

And as mentioned in my previous comment that this had been discussed and posted in the comments on the early thread, heat hunter
Cold from me

Clearly not a savvy saver...:wink:

A combination of TSB's 5% current account and M&S Bank's /First Direct's 6% regular saver would achieve this.

Comment

If they have new cars then why do they have to have expensive work done on them. New cars are covered by warranties, another advantage with these lease deals on new cars. It's hassle free motoring in a brand new car.

10k per annum so you can do 15k miles.

Oh right, thanks

I didn't say if I was or wasn't - what I want isn't really the point - I just wanted to highlight the downsides which aren't always in the blurb at the top of the page. If you like the idea of 'car hire' then it's fine, just be sure you have the money and can live with the limitations - oh, and don't pretend £3200 for 18 months car hire (excluding maintenance) is cheap!!

The "second hand cars can be expensive" thing is often an excuse people use when they really just want a 'new car' too. Sure, second-hand cars can end-up costing money but the majority of big bills come to people who buy unwisely or ignore minor faults until they become major ones - they get attached to the car instead of knowing when to bail - that can be expansive but dealer cars/warranties etc. all cost money so...

PCPs run for 2-3 years and in that time there's plenty of consumables you could need which aren't part of a warranty - and that's before you deal with scratches/dents/seats torn and other things which can happen...

Their cars had vandal damage (they can't ignore it, it must be fixed before the car is returned or you'll get a HUGE bill), needed the brakes doing, one needed an exhaust section (damaged by hitting something) and one had a badly kerbed wheel. I think one of the cars also had a "pollution alarm" (Peugeot) which was a small fortune to fix at a dealer but there are ways of making it disappear for a while ;0

Maybe they're careless but this lease is just for the car, you will have consumables/servicing - tyres if you drive it as it's intended - and anything you damage to cover at least.

So now we are comparing a brand new car with a £500-5000 used car with unknown history, varying amounts of milage and unknown future reliability?

Seems fair.

Great deal and well spotted OP
Voted hot - as its a great deal when you factor in buying a new car.

However - it's not for me I am far too frugal/tight for a deal like this.

We bought a 4 year old peugeot 207 4 years ago for £3900 it has been a good reliable car and if I sold it now I would probably get £2250 back - so in my case its cost me £1650 over 4 years - about £450/500 a year after road fund (£30 a year and tyres)

However, if I could afford it and was less frugal I would accept this deal no doubt about it whatsoever - a mate of mine relates lease deals to car hire and this car would be costing less than £6 per day over the 18 months obviously insurance on top of that figure for us I would guestimate 500 ish to insure so an extra 1.50 on top of that... £7.50 a day to lease this caris an absolute bargain and I'm nearly talking myself into it.

incredible deal

It's a fantastic car and a close second to the fiesta ST in terms of driving dynamics, but for comfort, interior and gadgets I think the Peugeot thrumps the ford. BTW the ford was my original first choice but is over £1.5k more to lease over the same period !!!!

Its 10k per year :smiley: and even over that is only 6p per mile so £60 for 1000 miles over.

Think what you must, but karlie88 and evilgazebo both didn't want to post the deal so I posted it on there behalf for HUKD users who CBA reading the old thread to find the Nationalvehiclesolutions deal/link.

People should note what johnpeat is saying you will have to pay for tyres,brakes and any damage - I know I've got a PCP car ATM. However if you do 15k over 18months you'll struggle to wear out anything other than a set of front tyres - even they might not need replacing through.

I'm making no comparisons whatsoever, and I don't now how you've come to that conclusion, based on what I've said.

But as you've brought it up, how is a new car more reliable than say a 5 year old, 40,000 mile car? is the new somehow magically better and wont suddenly break down? are new cars immune from having serious problems from day one? id go as far to say the 5 year old car would be more reliable, due to the fact its been used for 5 years and 40,000 miles without issue, has gone through 2 MOTs and multiple services. where as the new car is an unknown entity, and although it may have been built to spec, has had a PDI, its still unknown as to whether its going to be reliable at that point.

Over 3k for just 18 months? Doesn't seem anywhere near as good as a deal as I've seen posted multiple times before. Had it been for at least 2 years then maybe it would seem more worthwhile.

Yeah, just to be clear I'm not comparing apples and oranges - just highlighting that apples kill some people (cyanide in the pips y'know) and oranges are another option you have ;0

Eyes wide open - wallet carefully prepared ;0

Aren't these French?

Sorry, I jumped the gun a bit there. I sort of came to that conclusion because you said you don't need to spend £5-10K implying you can spend less to get a decent car. You won't find new cars at that price so I can assumed you meant a used car that costs less than £5K. I'd still need the cost of the used car up front and I think you will struggle to get a 5 year old car with less than 40k miles for much less than £3,500.

New cars aren't immune of course but they are less likely and you are covered by warranty regardless.

I don't understand that logic at all. Yes it's worked for 5 years but you don't always know the entire history of a car such as how it was driven, maintained etc. There's also the fact that things wear over time, the next 5 years are using parts that have been used for 5 years already. You can't say that their durability and reliability will be just as good as a result of that and if it does go wrong, the savings you made on a used car start to dwindle.

£3200 for only 18 months (plus mileage restriction) and then what?

Give it back and get on the bus... :-)

10k PA - too low for me. Barely enough miles for commuting let alone personal miles. Thats the problem with all the lease deals posted on here - the mileage seems to be average or less.

This is getting heat as it's obviously a hot deal... Getting a bank loan to buy a car? That's the definition of crazy. Never buy something you can't afford. Buying a car on credit card is another matter but you'll still need to pay off the balance as a lump sum.

I hope you do realise that a car depreciates so as soon as you drive a new car off the forecourt, it would've lost thousands. A new car like this 208 GTi would probably lose around 35% of its value, if not more, in the first 2 years and that would be more than what the lease payments would be.

There must be some amazingly low mileage ex lease cars out there, as we have seen many of these type deals? This deal would see a 18 month old car with just 15k on the clock, barely used and a decent second hand car, so would it be better to, look for one of these and own it outright?

£3200 for 18 months!!! cold

The rule of thumb is to rent depreciating assets and buy appreciating assets
so if you are after a new car and have a spare £20k don't spend it on a new car keep saving and buy a house

Not a bad deal. Would personally not ever buy French cars. They are just not as well made as others.. I even had this confirmed to me when talking to a recovery guy who works for Green Flag - Steer clear of french cars...... when I asked about the most recovered makes. LOL

This is an obvs advert not really a deal someone's found out and about. Hukd is going to the dogs.

Hot... If only I could find a reason to get one! !!

Bikerdanny: it was good of you to start a new thread and it looks like a couple of people may now get this deal who would have missed the older thread. But I suspect you may now be seeing why I wasn't keen to do it myself! :smiley: It's just fresh meat for the trolls and the patronising bangernomics crew. Old threads tend to thin out to a genial peaceful discussion amongst buyers of whatever it is.....

I already have one, but it's tempting me to get another for the wife

Incredible deal, although 18months is an odd term length

Very good point Mr gazebo, the old thread just has the serious buyer like me there now.

the reliability of any car is unknown whether it be new or used. however the new car will have a warranty to cover potentially expensive repairs.

there are other advantages to a new car like lower road tax and better fuel economy. offset these against the lease price and it's cheaper still.

I've always bought older cars outright and they do cost less month on month but until the depriciation hits rock bottom it is costing you month on month.

this calculator is good, I've tried it with my 2nd hand bought outright car vs lease car deals and the difference per month is not much (yet I'm driving a 7 year old 60k car....not a new one!!!)

http://www.thisismoney.co.uk/money/cars/article-1633412/Calculator-True-cost-running-car.html

I had a new 206 once where the screws from the drivers seat came loose. The seat eventually came out altogether and the dealership sent me back on the road with a seat that was not attached to the car. I wouldn't buy a Peugeot again, if they gave it away.

It's a Peugeot. Cold.

Spot on

I cannot comprehend how this is a good deal? I mean I can outright buy a similar car maybe a few years old for the same price. Here, I need to give it back.

Tempted by this offer as if purchased new, depreciation would be much more. Yes I understand a cheap second hand car is cheaper. But a new top spec car is a treat that most can't afford to buy outright. Life is about living and doing a lease deal isn't going crazy. The only thing that puts me off is the 8 weeks plus wait for delivery of this car. Heat.

Just so I fully understand your post, you are saying "don't lease your car because you have to service it, put oil and other consumables in it and change the tyres when they're below the legal limit"?

I own my car outright but am considering a lease - but silly me has been doing all these things with my used car too. I hadn't realised they weren't really needed and I have been wasting my money.

They don't , therealjhohnpeat just talks rubbish, that's all. Including comparing a new car to a used one, implying it's some sort of fair comparison or insight. You get them on every lease thread. As sure as the sun will rise tomorrow, there'll be someone on HUKD on a car lease deal telling people they could run second hand cars for less. Comparing apples with pears and forgetting how much people like the surety of NOT having to go to the cheap garage, worry about breakdowns & bills, MOTs, sorting out road tax, depreciation, blah blah blah.

It's got really boring.

It's ridiculous isn't it? £1m for a house in London I could by 10 in Blackpool for that. Yes, but it's not in London. Same sort of stupid comment. £100 a head for lunch at a Michelin 2 star - I could feed myself for £3 with a sandwich. I could go on...

Critical thinking needs to be taught at school IMO.

£3 for a sandwich?! And what do you have to show for it at the end? Trapped wind...

Go and buy a decent used sandwich from a colleague at work for a fraction of the price. Granary bread tends to be the most reliable and filling...

Something else to bear in mind when considering the initial deposit size (1month, 3 month, 6month, etc) the cost over 18months is practically the same but monthly payments are less the larger your deposit. On my sister's last two lease deals she has continued to rent the car after the end of the initial term at the same monthly cost, meaning the deal becomes even better value if you have placed a larger deposit. (I am aware that this does not always happen, but thought I'd mention it.)

I'm gonna have a look now for the idiots who can't handle it. See what I can buy for £3,200 that does 0-60mph in under 7 seconds, does 47mpg or more, costs £130 or less a year to tax, and has a 5 Star NCAP rating.

Lets see what I can find...

First up here's a BMW (WOW!): http://www.ebay.co.uk/itm/2003-BMW-330D-Manual-6-speed-M-sport-black-/141681671980?pt=LH_DefaultDomain_3&hash=item20fce2bf2c

Oh wait, it's done 160,000 miles. Oh wait it costs £225 to tax a year. Oh wait it only does 42mpg. Oh wait it's only got 4 NCAP stars instead of 5. Oh wait it costs a million pounds to service and will need an MOT doing. Hmm, it's also a 12 year old BMW, people will probably think you're a drug dealer and probably not even a very good one.

Okay, lets try again!

Next up here's another Hot Hatch: http://www.ebay.co.uk/itm/Seat-leon-cupra-1-8t-low-miles-/331570473448?pt=LH_DefaultDomain_3&hash=item4d3323e9e8

Oh wait, it only does 0-60 in 7.5 seconds. Oh wait it only does 33mpg. Oh wait it costs £290 a year to tax. Oh wait it'll need MOT every year. Oh wait this model is so old it doesn't even have an NCAP rating.

Okay, lets try again!

Let's try for another Hot Hatch: http://www.ebay.co.uk/itm/Honda-Civic-Type-R-EP3-2002-Black-/171811676020?pt=LH_DefaultDomain_3&hash=item2800c61f74

0-60 in 6.4 seconds? Check! Oh wait, it only does 31mpg. Oh wait it costs £290 a year to tax. Oh wait it'll need MOT every year. Oh wait this model is so old it doesn't even have an NCAP rating. And it needs a load of work doing. We nailed the speed though!

Try again? Okay!

We were close with a Hot Hatch, lets try just once more: http://www.ebay.co.uk/itm/2004-Renault-Clio-Sport-182-Anthracite-Wheels-A-C-Cruise-Control-Arctic-Blue-/281707978729?pt=LH_DefaultDomain_3&hash=item41971a9fe9

0-60 in 6.9? Check! Oh wait it only does 34mpg. Oh wait it costs £265 a year to tax. Oh wait it'll need MOT every year. Oh wait it only has 4 NCAP stars.

****! Sorry, I give up.

Do providers like these generally give an offer to buy at the end of the lease and if so, is it usually at a reasonable price?

May be a cheaper way of owning the car from new outright if that's your thing.

Some of these comments are hilarious; first of all this is a great deal regardless of your opinions on leasing. Personally I don't lease, however this is tempting even to me. Why preach to everybody to purchase used cars? Where will you get your used car if nobody ever bought new?

'Rent depreciating assets' - this car would probably depreciate more than the cost of this deal over this period. It's peace of mind, covered by warranty, and a monthly payment that people can afford. Plus it's very nice to have a new car with all the latest tech.

Hot deal OP, vote from me

Lol good effort for trying though :wink:

Oh great 3 grand for a car I have to give back again

I feel like a lot of users on HUKD need to realise that not everyone comes on here to penny pinch on a small budget. A lot people just want to enjoy their money for less....

This was posted a few days ago!! Tempted me then too, wish it would do one and stop making me consider it!

One key point you're missing in your comparisons - in each of those other options you still have a car after 18months to sell on or continue to use, with a lease you hand it back with nothing to show for your 3 grand.

edit* i'll add I'm not against leasing in general but you can't really compare like to like for 2nd hand cars. i.e. I normally have a decent weekend car and a "run-around" for going to/from work (and a classic car for summer and one for the wife... anyway) the run-around almost always costs me circa £1000, I'll run it for a year then more often than not sell it on again for the same money or very close to it. once or twice I've even made a profit (including mot costs etc.) if you can find a good one cheap enough initially.

What's the chances of this deal being around in August?

Sorry you're right. Forgot to add it's French car with a limit on how far you drive.

If people didn't buy new or lease cars as much, used cars would be more expensive. I'm not a fan of leasing cars but I'm voting hot for two reasons...

1. My point above
2. £3200 for a BRAND NEW CAR (allbeit 18 months) That you won't loose anything on, need to spend a penny on apart maintenance and wear and tear. I'd be surprised if you even need tyres if you stick within 10k allowance.

Under warranty for three years *shrug*.

Rough numbers from a quick search on auto trader so please take with a pinch of salt:

2015 208 GTi 0k £20,000
2014 208 GTi 6k £14,000 £500/m
2013 208 GTI 18k £12,000 £167/m
2009 207 GTi 25k £6,000 £125/m

So for a new car it beats the depreciation, without the outlay, therefore hot in my book. This does not even take into account interest in your bank if you have the money, or interest on the loan if you don't. Or the favorable mileages listed.

If you're looking at purchasing cars over 3 years old, that's a completely different circumstance and does not apply to this deal.

What I find hilarious is why people are comparing this deal with a used car.

Clearly those people would never consider a lease deal and prefer their motors fully-owned with an MOT and all the problems that comes with - and that's fine and everything, it's called an opinion and I respect that, but what the hell has it got to do with this deal? Leasing and owning are 2 seperate things. What is there not to understand here?

This is a hot deal with regards leasing and should be voted as such. Not voted cold because of it's total irrelevance to buying something outright.

Voted Hot becasue it's a great lease deal.

good points but how much time do you spend trying to find and purchase a road worthy car for £1000? How much is your time worth? How often do they need a big repair? and so on...

Voted cold.

Sick of this hotukleases crap these days.

Buying a used car is pot luck. You can get lucky and spend nothing but the purchase price and run it or you can be unlucky and get lemon.

I bought a Octavia VRS for £1200 banged some new tyres on it. So call it £1500, and its needed nothing but a service since 2 years owndership.

That said, it will be due a cambelt end of this year which cost around £300 with a service.

What you are perhaps failing to appreciate is that if you spend £3200 on a car, in 18 months you'll have a car worth probably £2700-£2800, depending on usage etc. With this deal, you'll need another £3200 for the next year and a half, or whatever.
Even with higher fuel consumption and paying higher tax for 18 months, you're still likely considerably better off. Also quite likely can get considerably cheaper insurance.
Always amused when people decide to buy a new car to 'save money', when likely they could keep using their old 'less efficient' car for considerably less 'Total Cost of Ownership'.
Sure, if you want the status of driving around in a new car (even if it is a fast shopping cart), fair enough - but don't try and justify the choice with it being a money-saver.

So buy a used car for £3,200 and drive it for 15,000 miles - in 18 months time I can sell it for £2,800?

Please post this type of car and I'm sure it will become the hottest deal of all time - £400 for 15,000 miles of driving is well worth the money.

I like you.

Hot deal - perfect to fill the gap for me whilst moving house.

Terrible deal. I make my own car in the garage every few years, cuts out the middle man and saves a fortune.

NVS -Rude staff , took 3 days to get back to my initial enquiry ,
VS - Dealt with in a clear and concise manner , got my acceptance back to me very quickly .
I know the whole debate regards set up fees if rife , in my opinon its well worth paying a little more for the serivce @ VS.

Its a matter of attitude to risk though, isn't it?

A used car for £3200 will be either old or high mileage or a low spec crap model, you'll be lucky to get a 1 owner full history car for that price. So, in the best case, after 18 months, you are probably correct. But the worst case is that it goes wrong, you are forced to spend £500 to fix it, then something else goes wrong etc etc - so £166 a month to not have that risk is good value for many people, if they also value a new car on their drive, why not? Its their money.

And I say this as someone who accepts a high level of risk, I tend to buy used high mileage cars, one owner, full history, 4/5 years old. It works for me - but I know that I could get a massive garage bill at some point.

It's certainly doable, a few years back I bought a delivery miles VW Polo 1.2 for 8k from a dealer for my wife to learn in (new model imminent, clearing old stock). 18 months later I sold it for 6800 as demand for decent small engined cars had rocketed due to fuel prices etc. On the flip side the Mercedes C220 I traded in against the polo had dropped 6 grand in value in the 18months prior so you win some you lose some, more so the latter with cars lol.

You'd have to pay me to drive a Peugeot, not the other way round.

Terrible cars.

Hi,

This looks like a great deal, have glanced through the thread, and probably being dumb, but would you contact your insurance provider and ask for an 18month quote on a deal like this? Or just do a 12month and ask for an additional 6 months? Or is insurance included ?

Those people comparing this deal to buying a secondhand car instead - do you also post the same rubbish on threads about deals on new LED TVs?

LED TV deal cold because you could buy a secondhand had 23" CRT telly cheaper?

Or on a deal for a box of Kellogg's Cornflakes? Cold because you could have bought Tesco's own-brand rice crispies cheaper instead?

A deal is a deal if it's the cheapest price for THE SAME ITEM.

Some people seem to suffer from keyboard incontinence and can't just scroll past a deal that's not suited to them.

Instead they have to dribble out some pearls of wisdom which are frankly no help to anyone and would be better kept inside their little heads.

Better to remain silent and be thought a fool than to speak out and remove all doubt. (Abraham Lincoln)

TSB would get you £78 per annum, after Basic Rate Tax, so say £117 after 18 months, based on the max deposit of £2 (that would earn interest)

So the M&S regular saver would net you another £153?

Not disputing, would just like to see how you do it?

It was mentioned that you'd earn a small amount of interest on £3200.

So what I did was use an example of opening 2 x TSB Plus accounts (one sole and one joint), placing £2000 in one and £1200 in another. Then by using the drip feed method, placing £300 per month into a 6% regular saver.

If you did this over 18 months then you'd earn £270ish gross interest - of course, adjust accordingly if you're a basic/higher rate taxpayer.

What was the difference in mileage from when you bought it at £8k and sold it at £6.8k?

Finance now accepted. Having problems with insurance, was £750 under my name as the owner, then put lease company as owner and it goes to £5000. Any ideas how to get this down??

Did anyone receive and email upon application? I filled the form out a few hours ago but have heard nothing, not even to acknowledge a pending decision.

I haven't seen one single post from you that makes any sense, and yet here you are, firing them one after the other, in a leasing deal, although you are saying you are not interested in leasing, and yet you post more than the people that are.

You always forget to mention important aspects when comparing costs, wanting a new car it is not just about being a snob. Most people already had their share of second hand cars and know what they involve.

A second hand car costing per year less than this per month? Seriously? The road tax alone would be more than that. On a leased car, road tax is zero, on a second hand car is anything up to 300. And what about MOT? Another £40 but how often will an old car pass it considering the new regulations regarding corrosion and emission and bushes, that are no longer advisories but fails?

And what about warranty? Is your buddy buddy mechanic going to sign a document to warranty the repairs and the car for 2 years (which is the duration of the leasing usually).

And what about tires? With a second hand car, it is easy, you want brand new tyres, you have to buy them, there is no other way, nobody will sell their car right after they put tires on it. And they are the thing that connect you to the road, and helping you not die in an emergency!

some people put a cost on their lifes and the ones of their children, a second hand car, with older tech, older tires, older brakes (that usually under-perform, usually at 60% the initial breaking efficiency, which is already lower compared to the efficiency of a new high performance car), all these combined, often results in 20m or more breaking distance.

Just give it a rest man, people got your point, for you, a second hand car is better, as along as you said you are willing to study how to repair a car, how to buy a car, how to sell it... some people are paid £20/hour in their respective field and don't want to repair cars, or deal with dubious sellers, and then with dubious buyers... Between researching buying options, researching what would make a good second hand car, servicing it after buying, and then posting an add, paying for an add (it is £60 for an add on Autotrader by the way! Why not add that to the costs??), and then dealing with buyers, I would rather prefer having a new car. What is one supposed to do, take time off work to meet buyers?

There are also other advantages, like having free breakdown cover included, better fuel economy, better handling, better and more toys on the car (look at the sat nav in this deal, I know I would be getting the latest maps and technology) etc..

You were already educated by others that you can earn another £280 during the period for the £3200 you could keep in the bank instead of investing in a second hand car. Add them all up, you will end up paying the same or less, but for a brand new car, much safer, fun to drive, clean, reliable.

Seriously, just skip one lease deal if you can... make it a will power exercise.

I can see that you had fun there, but it's all nonsense.

What you should have been looking for is cars that would depreciate by roughly £3200 over the same period (perhaps deducting the cost of finance if required).

i.e buy a £10k used car and sell it for £7k in 18 months.

That's more what people do in reality.

Yeah, all the motoring journos seem to think the Fez is the better deal.

http://www.carmagazine.co.uk/car-reviews/comparison/2013/ford-fiesta-st-vs-renaultsport-clio-200-vs-peugeot-208-gti-giant-test/

Still a terrific little hot hatch though that Peugeot.

Well it is IMHO. I don't think Peugeot have mate a great GTI since the 306 GTI-6

Well Spotted. Your right. Damn! But, how do you know that I'm not a Hobbit?

(btw: Yes, I know.) :wink:

What is the retained value for one of/this deal after 18 months I'm pretty sure that you would lose more than £3,200 as a trade in during that time so all you are paying for is the lose of value or less.
All arguments as to what else you could buy are just a waste of time because if some one finds this for them then it's a, nearly said a rude word there, good deal.

But then you would be better off with this deal surely? A £10k car will likely need repir work /MOT/ servicing etc over the 18 months as well

On the spot!
Read no further.

Compared to a leased car, it is also costing you extra:
- road tax (every year)
- MOT (every year)
- repairs (as you have no warranty)
- breakdown cover (every year)
- time (is money) to research for the car to buy and to sell later on and deal with the above (MOT it is taking a few good hours)
- safety (definetely a new car will have better breakes)
- fuel (better economy on new cars)

I run both a lease car for work and a 13 year old sporty type car for the summer. Believe me, the 2002 car is a money pit. It costs me Six to Eight Hundred Pounds a year in maintenance just to run it.(before tyres and MOT) For it's class it's considered a "quality" brand. Running an ageing car is more a labour of love than a life choice on matters that are meaningful, like, the ability to guarantee getting to work on time etc. Considering the need for absolute reliability, I would choose a cheap option like this lease for a guaranteed daily commute every time.

I have swapped cars every 5-6 years generally.

If i purchased a new Peugeot 208 gti now for £20,000, kept if for 6 years and then sold it for a realistic £5000 (probably less?) it would have cost me, in very basic terms, £15000 for that car's ownership - excluding the obvious maintenance, insurance, tax, petrol, etc.

It would need MOT's and possibly additional maintenance in those years as it aged, which would probably increase with time - cambelts, plugs, tyres, etc

Alternatively, in that 6 years, I could take 4 of these lease deals at a total cost of around £13000 - would possibly increase slightly, but not by much.

I could keep the same type of vehicle or even change manufactures and specs. It would always be under warranty, have no MOT costs and would be brand new every 18 months.

The running costs with a new car would probably be cheaper, especially when changed every 18 months

Am I missing something obvious?

And, in an extremely selfless act, I am letting people buy my 'fully tested' (read that 'redlined in every gear change') 208gti every 18 months :smiley:

Seems like a cracking way to own a new car if that is how you normally motor?

With 5k miles/annum here's a good deal. http://www.gateway2lease.com/z_peugeot_208_e-thpgtiprestige3dr_16038_leasing.php#.VW7nGM9VhBc

works out to £2876.86 over 18 months

I'm doing plenty of comparisons, but as soon as I put the leasing company as the owner its making the quote astronomical. Can't be the only person having this issue.

And road tax, don't forget road tax, you pay 0 road tax for a leased car.

I've only really started looking at lease deals on here but there seems to be a pattern, are people not allowed luxuries? can you imagine if all threads were the same?

Smartphone - cold, you can get a nokia for a tenner

Smart Watch - cold you can get a casio for £6.99 that does the same thing

Branded T shirt - cold, can get one in Primark for £2, but wait that's even colder due to slave labour

Soft Toilet paper - cold, use yesterdays tabloid

There is a big difference between Need and Want, some people just want (what they perceive to be better) and are fortunate enough to have the finances to do it, let them enjoy it. I would have loved the Audi lease that came up, but its above my pay grade, so regardless of the depreciation, its great for those after it.

It depends on what you get.

Let's take Mini as an example. A lot of those cars come with a five year TLC package, which includes servicing. You can get models that will still have that remaining for 18 months, with around 10,000 on the clock, for £10-11k. I'd take a low mileage 2-3 year old Mini over a Peugeot any day.

Personally I would much rather get a good car that cost a lot more brand new than something bland and generic like this one.

Here's some inspiration: Honest John / Top 25 Used Cars for £10k


Also, remember....£10k was a figure I plucked randomly. Anything you can buy now and sell for £3200 less (minus any finance costs) in 18 months can compete with this deal. Could easily do this with £15k cars

Im earning basic wages about £8-9 an hour and i wouldnt lease this car. BUT if i earned £20 an hour your explanation makes perfect sense.

Can anyone confirm the exact specs of this, and if it is indeed the 2015 facelift model? I've looked on the Pug website at their pdf and it seems to suggest a lower model than the GTi. I'd imagine this deal is due to the lesser specced version with the lower bhp perhaps? I also love the red/black colour, is that an option for this package?

This sort of thread really gets me moist :smile:

For those who understand lease deals: Great deal, right? Might not be a suitable car for you personally, but no denying the financials! Good work, have a gold star. Feel content that you aren't being completely backward in refusing to understand differing points of view.

For those who DON'T understand leasing (and that appears to be a LOT of you):
* This is a NEW car, not used
* Depreciation on a new car bought outright will be MORE than what the lease cost is over 18 months on this car.
* No registration fee to pay on the car's first year of tax
* No VED to pay on new leased car
* Used cars a bit older will need MOT
* Both old and new will need a service!
* Old cars ... ALSO DEPRECIATE! Good god -no surprise there, so don't ignore it
* Buying a used car for £3-£4k requires £3-£4k of cash up-front (i.e. NOW!). That is money you need to either save, or tie up in your vehicle. A risk - especially if your valuation of your car is not what someone else is prepared to pay. It works both ways, however!
* Leased cars (new, I might add!) spread costs out over the term of the lease. This is called cash-flow. This is fundamental to business and life in general. Smooth cash flow, means a smooth life. No bottle-necks.
* Both new/old need insurance
* Old car bought outright means as much mileage as you like, but increased likelihood of repairs required for incremental mileage
* You can sell your used/owned outright car at any time. A lease is a contract. A contract is legally binding. They're not easy to get out of. Buyer beware.
* Both cars can make use of GAP insurance.
* Used cars are not the most recent model in many cases. Some people don't care and view cars as a simple tool. Others may require to be in a newer vehicle for work purposes. People have different wants and needs.

Golden rules for everyone:
If you can't afford the payments, don't do it!
If you don't want a NEW car, don't do it!
If you want to take the risks on buying a used car and the associated benefits of it being reliable and costing next to nil to maintain, before selling onwards, don't do it!
If you don't understand, don't do it!

Platinum rules for everyone:
If it appreciates, BUY IT.
If it depreciates, RENT IT.
n.b. there are occasional exceptions to the rule. Cars are not really one of those exceptions.

If you're still unsure:
Think of a holiday. You spend £2000+. At the end of it, you don't get to keep the hotel to sell on. Nor the swimming pool, aircraft or airport. You have nothing to show for it except a tan if you're lucky. You have had the benefit of enjoyment.

A car is not dissimilar. Lease deals are great for people who want new cars and don't want to tie up vast sums of cold, hard cash up-front. Plain and simple facts. Easy.

If you STILL don't get it:
Log out, and don't try and reply. Ever. On a lease deal. There is no hope for you.

tldr; these deals get hot for a reason. If you don't understand, put some time aside and try to, before spouting utter nonsense and garbage.

Excellent. Well done, great post.

Peugeot drivers ...

+1. My '02 AMG sporadically throws faults - some of which are cheap and some of which are eye-watering (new hydraulic pump for your roof Sir? £1000 for the part please..). My Golf R cost exactly £206 per month, regardless...

Another excellent post.

Lovelybeer... Very well said. As long as you don't get into debt and financially your sound, able and capable. Life is about enjoying yourself. Otherwise what's the point. Previously Id never touch a lease car, prefer to save my own money and buy a car outright. However getting older, wiser and seeing how life can be cut short. I am very tempted by this deal and for 18 months I can have a nice top spec car, that doesn't effect my house renovations or family life.

That's a stupid rule!!

The only thing that costs money that really appreciates is property. Everything else starts losing value when you buy it.

Do you rent your computers, phones, furniture, clothes, tools, crockery....I could go on like this for a while, but I'm sure you get the point.

Essentially lease deals are for people who like to play it safe. You get a bog standard car (new or not, you're not impressing anyone with a Peugeot hatchback) but you know what it's going to cost over X months.

For other people who are happy to play the risk/reward game, they know they could potentially get a much better car. For a lot of people, servicing etc comes secondary to how nice the car actually is. Personally I'll take the small risk of buying a dud to potentially get a really good car for the same money.

Can we have that a bit more balanced please?? Rather than merely PRO leasing...

* This is a NEW car, not used Correct
* Depreciation on a new car bought outright will be MORE than what the lease cost is over 18 months on this car. Correct (usually)
* No registration fee to pay on the car's first year of tax correct, as the owner is the lease company
* No VED to pay on new leased car correct
* Used cars a bit older will need MOT only cars that a 3+ years older
* Both old and new will need a service! correct, though very old cars will often be MUCH cheaper to service (but more unreliable)
* Old cars ... ALSO DEPRECIATE! Good god -no surprise there, so don't ignore it Correct, but exponentially less than a brand new car
* Buying a used car for £3-£4k requires £3-£4k of cash up-front (i.e. NOW!). That is money you need to either save, or tie up in your vehicle. A risk - especially if your valuation of your car is not what someone else is prepared to pay. It works both ways, however! A lease also requires cash up front as a non-refundable deposit/admin fees.
* Leased cars (new, I might add!) spread costs out over the term of the lease. This is called cash-flow. This is fundamental to business and life in general. Smooth cash flow, means a smooth life. No bottle-necks. Fine as long as you can afford the repayments in a years time!
* Both new/old need insurance Correct
* Old car bought outright means as much mileage as you like, but increased likelihood of repairs required for incremental mileage correct
* You can sell your used/owned outright car at any time. A lease is a contract. A contract is legally binding. They're not easy to get out of. Buyer beware. correct
* Both cars can make use of GAP insurance. correct, though if you own the car you don't need GAP, if you lease it, its usually MANDATORY
* Used cars are not the most recent model in many cases. Some people don't care and view cars as a simple tool. Others may require to be in a newer vehicle for work purposes. People have different wants and needs.correct, as people using for work purposes will often find the mileage is too restricting on Lease deals.
******Other factors you forgot to mention******
* Any damage that is done to the lease car will be charged for upon return. Please be careful in supermarket car parks!
* There are usually clauses that state you must use parts that are of equal specification (e.g premium tyres) upon returning
* If you buy, you OWN the car - you can do what you like to it (modifications/upgrades etc). You cannot modify a lease car in any way, shape or form
* If you buy, once the car is paid off (if bought on finance), you then feel the full benefits of owning as you wont have large monthly outgoings to pay for the car anymore.

Golden rules for everyone:
If you can't afford the payments, don't do it!
If you don't want a NEW car, don't do it!
If you want to take the risks on buying a used car and the associated benefits of it being reliable and costing next to nil to maintain, before selling onwards, don't do it!
If you don't understand, don't do it!
ALSO:
If you are worried about possible damage to the lease car, don't do it!
If you have concerns about your financial stability, don't do it!
Platinum rules for everyone:
If it appreciates, BUY IT.
If it depreciates, RENT IT.
n.b. there are occasional exceptions to the rule. Cars are not really one of those exceptions.
ALSO:
If you are a high mileage user, DON'T RENT it.
If you're still unsure:
Think of a holiday. You spend £2000+. At the end of it, you don't get to keep the hotel to sell on. Nor the swimming pool, aircraft or airport. You have nothing to show for it except a tan if you're lucky. You have had the benefit of enjoyment.
A car is not dissimilar. Lease deals are great for people who want new cars and don't want to tie up vast sums of cold, hard cash up-front. Plain and simple facts. Easy.If you STILL don't get it:
Log out, and don't try and reply. Ever. On a lease deal. There is no hope for you.tldr; these deals get hot for a reason. If you don't understand, put some time aside and try to, before spouting utter nonsense and garbage.



Final note: I agree with much of what you say, but there are Pro's and Cons to both buying and renting that need to be pointed out fully, not just the advantages of renting/disadvantages of owning.

How do you find the Golf R i'm very tempted. What lease deal did you go for?

It's NOT a stupid rule. If you *can* rent something that depreciates, it is common sense. The fact that you CAN'T rent computers, furniture etc, does not mean that it is a stupid rule. It means that there isn't a market for renting underpants and sofas. There is a market, for renting/leasing cars.

Similarly, businesses have options to lease more things than the standard consumer, so that means the rule applies. Many businesses rent, rather than buy, due to how they can report things on the balance sheet and see cash benefits. The same is not always applicable to the general consumer, but cash flow is king. If you can successfully argue against this, consider yourself a revolutionary economist and go fetch a Nobel Prize.

Nobody has said that this lease will impress anyone (you're obviously bothered by a brand - good for you)

Good for you on being a risk-taker. We need more people like you, or lease deals wouldn't exist - my heartfelt thanks go out to you.

All positive comments about this deal so i have applied for one myself. Thanks everyone

Not sure why most people would want this. Not only is a niche car - 3dr hot hatch - but loans are at 3% which means for this monthly fee you could own a used 3dr 208 outright at the end of the lease period and leverage that toward owning something even better, eventually working your way up to owning a brand new 208 GTI outright if you so wished.

You can rent furniture. You can rent televisions and computers. These services have been around for ages. In fact, a lot of companies offering these services died out (remember Radio Rentals?) because people chose to own stuff instead, since it's is usually preferable (if only for emotional rewards) than renting.

Cash flow is king for businesses, not people. People are more complex.

And anyway, let's assume you were right about not being able to rent things. That would you mean you just invented a rule that is impossible to follow - by your own admittance! To follow your rule, what exactly are you suggesting people rent? Other than cars obviously.

Either way, this whole argument is ignoring resale value of vehicles. If I purchase a vehicle now that will be worth £3000 less in 18 months, then financially it is the same. If you use finance then it's also the same in terms of cash flow.

What's the difference between paying £166 a month for a lease and £166 a month to finance a loan? There isn't one.

There's just a like button ya know...

So in your example is the Peugeot London and the Michelan star restaurant?

I understand your point but you're assuming just because something is new it's automatically better than something used. This is only ever the case with underwear. Certainly a used VW is infinitely better than a new Peugeot.

Not a bad deal though if you don't mind driving a Peugeot. You'll forever be quickly adding the words "it's a GTI though" every time someone asks you what you drive. And you'll always feel a little dirty.

I'm sure most people are aware of the benefits/risks of owning a car. However, your points:

Most cars depreciate at a 30% p/a basis. Not all, but most - when driven and serviced typically. This is how most businesses account for ownership on PPE.

Many leases require a small admin fee and only 1 month deposit up front. Small lump sum, agreed, but not the full cost of the vehicle in advance.

GAP is not mandatory on leasing. Check out the insurance ombudsman - it's not even legal for them to enforce you take it out. I have checked. They suggest you do, however, but you don't have to take it. You are at risk, of course.

Work purposes - lease deals are not restrictive to only x miles - many deals can be found for higher mileage requirements - the principles on leasing are still 100% valid for those who want new cars. 20k miles a year from new, will still be efficient compared to buying outright.

When handing back, your lease firm should adhere to leasing with BVRLA. If they don't, buyer beware. BVRLA set guidance on cosmetic damage that is very lenient. Check it out. Private buyers are less likely to be as forgiving.
http://www.bvrla.co.uk/

Modifications...well, that's personal preference. I wouldn't dream of them. It is for a certain demographic who enjoy that sort of thing and 99% of those people don't buy new to modify. Always exception to the rule, however.

Tyres, yes that's valid. But service packages can be added to lease deals to cover this for additional monthly payments. I have a service deal that is £300 over the 20k miles term of the deal. It covers maintenance and tyres over that time, which at a main dealer would be £500 or service charges and £600 for one full set of "original" tyres. That's my scenario, YMMV. But yes, you're right - many stipulate the original tyres. Expect to pay £150 per corner versus £50-£100 for other brands of reputable quality (as an average). Over two years, assuming one full set of tyres at around £75 premium, that's £300 more on a lease.

That £300 would normally pay for most of a service package. No brainer in my opinion, so thanks for pointing it out :smiley:

Re damage to lease cars - if comparing lease with owing, damage to an owned car will reduce the resale value therefore increasing depreciation and the cost of ownership. So it makes no odds to point it out on a lease deal FOR COMPARISON, but people do need to be aware that they will have to pay for repairs before handing it back.

Re affording repayments - I think the benefit here is that there are no surprises, costs are fixed. If you cant afford the repayments then you should NEVER take out the credit. I guess you could lose your job leading to financial problems, but then you could end up with a massive used car repair bill and not afford that, so there are potential financial pitfalls to both.

Re owning at the end- good point, for these repayments over 24 months you would be able to borrow around £3000. Then the car would need no further repayments, but potentially more additional costs in maintenance.

This car will not depreciate £3,000 in 18 months, I think that's the key piece of information here. If I go out and buy a hatchback tomorrow for £6,000 then it will depreciate £1,000 in 18 months. Unless my emotional wellbeing depended on having a brand new car, I don't see the value.

It's a general rule for renting. If you can't find something to rent, don't blame me. I can rattle of things to rent if you like, but it's not relevant to this deal. The principle of renting a depreciating asset, however, is relevant.

Resale is not ignored on used vehicles, as I pointed out: they still depreciate (circa 30% a year average), and this is reflected in the risk vs reward argument. If you have a star car, excellent - minimal costs involved! But your cash is still tied up regardless.

£166 p/m for lease vs loan, well, if you can find finance that is cheaper than a lease on a new car over the same time period, you should post it as a deal, as it will be scorching hot :smiley: Otherwise your principle is correct. But finance is usually a lot more expensive than leasing - even more so on used cars (interest rates).

I agree with you.

In fact I did something similar. Bought an immaculate Mini for £7k a couple of years ago. Probably worth about £5k now. Sailed through two MOTs, had a major service, other than that hasn't been anywhere near a garage.

I can afford something better now but I love the little thing. It's mine. Where's the love in leasing eh?

Your entire lengthy point is rather invalid as you can't buy a Peugeot 208 for £3200 as you seem to state that you can in your opening line. Also, if your bothered about MPG and tax and yet also want a fast car you're always going to end up compromising. And the Peugeot is exactly that - a huge compromise.

has anyone got the link for the document that breaksdown what standards lease providers look in regards to bodywork/alloy damage upon return at the end of the term?

It says things like scratches can be up to 1-2cm etc (I've plucked that figure off the top of my head) but if you've seen the document you'll know what I'm talking about!

I know its been posted in threads countless times but I dont have the link.

See my post on BVRLA http://www.bvrla.co.uk/. They're lenient to a degree.

The general rule for leasing is to treat it like you would your own car: you'd pay for repairs on your fully owned car as well, but probably wouldn't care much for stone chips and a minor ding. I personally wait for a few to be incurred and get them sorted at once for economies of scale :smiley:

Yeah good point, probably worth waitin guntil the final month of the lease before repiring smaller things.

It's relevant because your argument for promoting this deal is that you should rent items that depreciate.

Let's ignore my puerile comment about underpants.

Why don't people rent their furniture and electrical goods if renting is best?

This might sound irrelevant, but the answer might give you a clue as to why not everyone wants to lease...and it's not because they're too stupid to understand the financial side of things.

New car versus used car? MADNESS. Who would do such a thing? On HUKD, of all places?!

That's my Mrs out then :neutral_face:

Comparing a car with a car.

The worth of "new" is a subjective and personal thing. Your new car becomes used the minute you turn the engine on.

Because, there isn't a large market for renting such things. But it exists. Heard of Brighthouse? "Rent-to-own retail chain offering home electronics, domestic appliances and furniture."

The market for renting cars is huge. That's why it's a competitive market.

Renting from Brighthouse is not as competitive. Reasons? People don't often sell TV's and sofas after two-three years. If we were all as materialistic on such goods - like cars - we'd see a competitive marketplace.

The rule is valid, but doesn't mean it is easily applied in day-to-day life. It is in business. And a lot of people on here understand that - so can see why it's relevant to this car deal. Instead of picking holes in the facts of depreciation, focus on that :smiley:

Exactly! If you don't care for a new car, doesn't mean that this deal isn't good.

A car isn't used the minute you turn the engine on. How else do they check it works before delivery?!

Love in leasing? Being able to redline a performance hatchback, taking along some British B roads on a sunny Sunday morning, chucking it into a few corners, hard braking before the corners etc. All in a controlled manner, of course, and within national speed limits.

You hand the car back, then some poor HUKDer who loves owning used cars has to change the brake pads within a few months and their turbo has gone a couple of years down the line...

Maybe if you spent your time getting additional training in your field of work instead of trying to make some false economy repairing yourself on old banger, you could earn more? Just a thought, didn't mean to be offensive.
Also, the £9/hour you earn now, is that money in hand? Cause you might actually earn much more but a part you don't see, because it goes into your tax/pension, but it is still money earned, that is yours or will be yours in various tax credits/pension and such.

My point was that not everybody can or have to or should try to become car mechanics/traders just to save some money, as their time would be much better spent in their field of expertise.

I'll give you an example based on my old banger, a Mazda 6 2004, compared to a 2 years lease:
- Road tax: Mazda: £580/2 years. Lease: 0.
- MOT: Mazda: £80/2years + repairs. If it passes MOT. Considering the new rules regarding corrosion, it won't. Lease: 0. Time spent to do the MOTs: too long. Plus repairs: too long again.
- break-down cover: Mazda: £80/2years. Lease: 0.
- Fuel: Mazda: quite a lot, not the best on fuel. Lease: lots of cars achieve 2x better mpg now.
- Tires: I am always finding hard to justify spending on new tires for a car that is near it's end of life and never know if it would pass next MOT. Lease: included.
- safety: well, braking on this car is weak, what do you expect... it's an old car. Tires are so-so. Shock absorbers play an important role in the breaking distance, guess what, they are not new either! How much would you price that?

You get the idea... make your calculations before dismissing leasing. This is for a 200bhp car, with the latest gadgets, but there are even cheaper deals, for as low as £80/months.

And you'll always feel a little dirty. That made me laugh out loud. (I don't disagree BTW)

Honestly, I think it's probably the best all round car I've driven. It can go from regular Golf family hatchback to rally monster at the touch of a button. Motorway driving is made hugely more relaxing by the radar controlled Cruise control. Economy (for a 300PS car) is not bad, if you are on a long run. It has all the bits and pieces you could want or need. The handling is just ridiculous. It's fast (but not super super fast - it doesn't keep up with my AMG but then 3.2 V6 with a 'charger vs. 2.0l four pot with a blower, so.....). It's four wheel drive when it needs to be.

I'm sure you've read the 'professional' reviews on line. They usually end with "it's all the car you'll ever need". I'm inclined to agree to the point I'm saddened at the idea of having to hand it back, but then I get a nice new car again...so hey ho!

If you sift through HUKD you'll find this was a big deal - I ended up paying £172 pcm + VAT. Yes you read that correctly (6+23, 5k, XS @ 6p + VAT).

HTH - feel free to PM if you want more information

Barbs

An immaculate Mini for £7k? That is your non-specialist opinion, you are not a car mechanic, are you?
And you didn't do a full check, I assume. In fact, for all we know, it could have been leased and drove in the red zone quite a lot and the engine compression might be 30% lower than what is should be. Which in turn might cost you 30% more in terms of fuel. Of course, I assume it is not a 200bhp horse power engine as the car in this deal, and it has no panoramic sunroof, satnav and so on? So why even compare the two?

Did you measure the break pads and discs before buying? If you did, congrats, most of us do not. Again a gamble.

Also, you seem to forget you had to have £7k cash in the first place! Invested in a 100% risk-free bank account with 5% interest, this would earn you another £700 (more actually) in interest in the two years.

You also paid for MOTs, road tax about £600 during the two years.

You gambled £7000 or your money in a second hand car that could die on you soon after (and still can, as you have no warranty). Some people pay extra for warranty for their phones, let alone for their cars.

You assume you will get £5000 for it... but you don't know actually. You will have to prepare the car for sale, post an add (£60 on Autotrader) and wait for the tire-kickers...

But add the numbers up, I find you didn't come out cheaper in the end.

Heat,
This should just about get me through my midlife crisis.
Wanted a Focus ST but too expensive,nearly bought a Kawasaki Z800 but didn't want to die so this for 18 months then a sensible boring plug in will do nicely.

People talking about breakdown cover. Does that come with this? Where does it say?

Many do...

Personally im happy with the work im doing right now.My work is not the main question here:-). We shouldnt take this matter to a totally different direction.
I said if i earned more this deal would be appealing to me. This deal is not for me but i dont have any problem with that. I can see that it can work out well for some people.

I meant immaculate visually, of course I couldn't be sure what was underneath the surface. You make the gamble sound like the odds of flipping a coin. Almost everyone buys and sells used cars without issues.

I hope you're not using "extended warranty" purchases to advocate leasing! They're the least savvy consumers of the lot. Read what Martin Lewis says about insurance and extended warranties.

I'm not going to go into a massive amount of detail on the finances, but MOTs and tax have been around £300. The 5% savings account you mention completely ignore tax btw.

All those things about engine compression etc might be true for all I know. But I do know it's mine and it's not a Peugeot. I'm happy with that.

Many do but the vast majority don't.

Perhaps to be more precise, hardly any people that have the cash to purchase outright will rent those products. It's fairly obvious what market Brighthouse is aiming for.

I guess a lot depends on whether you see a car as a 'possession' or a 'tool'. I am tempted with this, It will cost you less than the depreciation on the same car over the same time period, doesn't need cash tied into it, no car to sell at the end of it, etc...
Yes you can argue you are spending over £3K with nothing to show at the end of it, however my current car (that was bought used) has cost me around £4.5K over the last 2 years in depreciation, MOT costs, unplanned maintenance, etc, so this would be a better deal.

If it's a 1.6 diesel Mini, it uses a Peugeot developed diesel engine. True fact.

The THP engine in the 208 GTI was also a joint venture between Peugeot and BMW. The early ones had cam chain problems on the Pugs, Citroen C3, and the Mini Cooper S

There will however typically be an admin fee, similar to the registration fee. Some leases charge you VED.


Service costs on new cars likely to be lower.


Well not necessarily. You can easily buy a £2k car that doesn't depreciate over several years.


No it doesn't, ALL used car dealers LOVE people without cash, as they will finance it for you.


But you can do that without a lease, using PCP. And some leases have high upfront payments. Further, leases introduce other complications, such as 'gaps', e.g., if your car gets written off then essentially you have lost the value of your upfront payment.

Cashflow in today's 0.5% base rate market is not such a big issue for very many people.


Yes but you need to explain the added complexity of a mileage limit on leases. If you get a 5k lease and do 10k then that can be very expensive.


A used car isn't necessarily that easy to sell in fact. New cars on finance are not necessarily able to clear the finance. The cost of getting out of your lease won't exceed the remaining payments.

Also you forget that if you dent the panels and kerb the alloys on your £1k used car, you don't have to pay to repair it, but you have no choice about paying for damage to a leased car - and probably most of the time there WILL be damage.


Sorry you need to explain why this might be useful, it's just a meaningless buzzword otherwise.


Eh, it's not necessarily about not caring. You can buy a used S-Class for let's say £10k and stick a dateless number plate on it. There's no way to drive a new one (bought or leased) for that kind of cost. Yes, you'd rather have the newer one with better gadgets and fuel economy, but it costs so much that it's out of the question.

Most people don't *require* a new vehicle, unless you are a taxi driver or something.


Platinum my a***. It's not a simple equation like that at all.

If you rent a depreciating asset all you are doing is shifting around the cost of that deprciation. It doesn't, normally, make it cheaper. In fact it should make it more expensive because you are involving extra admin in the process. You still have to pay for the depreciation.

There are cases where cars go out for 2.5p, like this, because the manufacturer is dumping them on the leasing company rather than lose face by selling them for a pittance at retail. But that's not the rule at all.

If I want a particular style of car than a lease might be cheaper, it might not. You really have to consider ALL the costs, and that includes servicing, depeciation, cosmetic damage, and typical repair bills.



Most stupid argument in history. A hotel costs £15 million, I haven't got £15 million in the bank, I do have £2000 though. Plus whereas I will use a car every day for several years, I only need a hotel for a week.

And virtually NO-ONE, actually ties up 'vast sums of cold hard cash' when buying a new car. The overwhelming majority of new cars are financed, typically on PCP.

Moreover, the alternative to leasing or buying a new car is to buy a used one. Most people in this country can pay cash for a used car. That used car might cost £500, it might cost £5,000 or even £50,000.



I get it just fine, this is a very good deal, but you have spouted a lot of bilge and misleading information about lease in general.

I appreciate people with no intention of ever buying anything like to write a load of rubbish, but it does not help the people who do want to buy.
I'll ask again, has anyone else who have gone for this deal enquired about insurance and found the price to be whacked up massively when adding the lease company as the owners and registered keepers.

I'm very tempted with this as my every day car and keep my SUV as the family car for days out and long trips. Any indication how long this deal is about for? I need to go test drive one before thinking further.

Plenty of cars that would be possible for - for instance a higher spec german motorway barge already on 125k is unlikely to devalue massively in that time.
The Laguna I paid £750 for did 4 years for a total of around £150 a year in depreciation (could have got more, but wanted a quick sale). Didn't service it as much as I should have, saving more money. About 35k miles in that time I think.
But, it wasn't a shiny new car with a shiny new number plate on, so wouldn't do well for the snobs :smiley:. Wasn't great on fuel. Still cost me a hell of a lot less over the time than friend's who bought new German diesel hatchbacks which were good on fuel at the same time.

From experience of others, there's still a good risk that you'll have problems with a new car that will end up with you spending time and possibly money getting sorted - for instance the people that have had hand brakes let go and the car roll in to other vehicles/a wall/etc.

I'll bite!

1. Admin fee already covered in subsequent posts.
2. Service costs for service alone, very comparable. For additional consumables, equally comparable, but perhaps more likely on a used vehicle that is closer to wearing out discs/pads/tyres.
3. Find me a £2k car that won't depreciate when doing 10k miles per year.
4. Who mentioned buying a used car for £3-£4k on finance? Oh - you did. Nobody else has. Dealer finance often double-digit and will still need a deposit comparable to an admin fee on a lase.
5. PCP - good point - but requires a deposit too. A valid comparison, but again, that's not the comparison people are attempting to make (note: buying a used car outright etc). See my other point on "gaps" for gap insurance. Note as well that *many* deals out there require minimum one payment up front. Just look around or ask - the firms are happy to help.
6. Additional mileage varies. Buyer beware, obviously. Usually 6-7ppm + VAT. My point is that your own used but perfectly good car, is mileage unlimited, with an increasing risk of repairs needed the higher you go. Also obvious.
7. Not sure what your point is, but common sense prevails: you don't borrow something, abuse/damage it and expect to give it back without recourse. Again, buyer beware, but BVRLA guidance can help you there. It's not all that bad.
8. See point 5 above. People often point out the "danger" of losing your up-front payment. I'd suggest gap insurance on any new car - leased or otherwise. It also makes sense on some used cars, but not all. I assume you know what gap insurance is, so will stop there.
9. My wife has to have a vehicle under 3 years old to qualify for car allowance. This is a case whereby she *needs* a new car at least once every three years. A big portion of firms stipulate similar rules. My point remains.
10. Sorry you don't understand. I won't try to elaborate any further, other than to say "exception to the rule" is written quite clearly for all to read. Sorry again if you missed that bit.
11. Also sorry if you struggle to grasp what is referred to as a "concept". Not sure what else to add here.
12. Bilge, perhaps. But less so than the other 99% of ill-informed posts.

Good day, sir :man:

My qoute went up by £50 when I inputted that a lease company owned the vehicle, not a deal breaker for me. but something to consider.

It may be useful to advise which insurer this is - as mentioned, on our Admiral Multi Car policy, we've been advised it is not something they change premiums for.

Too many trolls on here today.

What I don't get is why people comment on a deal that they have no interest in? :confused:

You don't see me commenting on those Steam game computer deals. Why? Because I have no interest in it and don't intend purchasing the product.

Well fundamentally a £2k car cannot depreciate beyond zero.

But I sold my S80 53 2.5T plate for I think £1800 70,000 miles about 4 years ago. The buyer got a good deal and I don't think they would be much less than that today on 100,000 miles.

It's not that hard to do.

You really need to add up ALL the costs of motoring. On a £20k car depreciation is (usually, excluding sometimes specialist cars) a significant cost. On a £2k car you don't need to worry about it.


I'm not sure what your point here is really. You can get the £4k financed cheaper using a personal loan if you want, but putting up strawman arguments based on what uninformed HUKD 15-year-olds say about buying new cars aren't terribly relevant - you need to consider how cars actually ARE sold, not how internet keyboard warriors think they are.


They aren't really comparable. The mileage charge is guaranteed, the repair cost is unknown.


My point is that if you are selling a used car minor damage isn't a problem. It is on a lease, and it should be part of your cost analysis.


Fair enough, but such posts as your always get about 300,000 likes so it's not quite as it seems - most people do understand that leases can be a good deal, clueless people just make more noise.

Just to clear something up here - a number of people in this thread seem to think this is a fully maintained lease - it's not (or I'm reading it wrong) - it's just for the use of the car???

You will have to service the car (at least once), tax it, replace any wear and tear items (tyres, maybe brakes) and - and this is a biggie - repair any damage you or anyone else causes.

If it was your own car, you could choose if/when/how/with who to repair any scratches or issues but with a lease car you need that done reputably/with paperwork to prove it before it's returned (issues with lease cars tend to result in silly bills being sent to you otherwise)

Sure, it's warranted but damage is still a real thing - wear and tear is a real thing - vandalism/parking prangs happen - child seats can damage seat fabrics and so on. It's like renting a house, some 'wear and tear' is fine, anything outside of that isn't and the lease company can and will chase you for the cost of putting anything right (at a silly rate)

All stuff to be aware of - it's not £3200 and no other costs by any means...

Doesn't make sense. People interested in buying cars are posting here.

What would be the point of only people wanting the deal posting? You'd only get one side of a discussion then.

I think i'm right in saying that when you look for insurance they are the registered owner, you are the registered keeper - it makes a difference of about £50-£100 over a year.

1. Your example is anecdotal, rendering it nothing close to being a standard matter of fact. Your point on a £20k car is excellent - the point here is that the rental costs in total, are likely to be quite a bit less than the depreciation over the same time period.
2. What's the cost of getting £4k on a personal loan? Not that it's relevant to a new car deal vs buying/financing personally a new car, but still - personal loan if you like. The used car route is still moot for those of us interested in new cars alone. I appreciate value can be had, but that's not what is being put forward as a deal. Else we'd end up with a lot of auto-trader deals. Those are unique, while this is available on (assuming so) mass.
3. A risk. One a lot of people don't want to take. Mileage charges are as you say, known. Risk of repair? Who knows!
4. You also need to consider that a used car buyer may be fussy and waste your time trying to haggle. Put simply: let's assume that the vast majority of people don't want to drive something that has taken part in what appears to be a destruction derby. To answer your point fairly: minor damage is also not a problem on a lease. Check out the BVRLA guidelines!
5. Don't hate something I take a guilty pleasure in :smile: who cares about how many "likes" a post gets? If people are even remotely concerned by volume of likes or badges on an internet site, they probably need to re-evaluate their priorities.

Just through money supermarket. The admiral qoute may have stayed the same but I wasn't paying attention as they weren't the cheapest. I'm actually with admiral now so may give them a call and see if they can lower the price over the phone.

Worth doing, as some insurers will note that it is a lease car, and not someone trying to 'front' or similar.

It's ridiculous. The lease company advise it's Peugeot finance who are both the owners and registered keepers, which they should be. Put that into go compare and it's gone from a few hundred for a quote to a few thousand.

Shock horror... everyone is different and would like to spend their money how they want to. Why people insist on coming onto lease deals and preaching about how THEY think someone else should spend their money is baffling.

Mr partner and I comfortably earn over the average UK household income and have no dependants (as well as the benefits of living up North!). We fell in love with the Golf GTD last weekend and are in the process of ordering one on a lease.

Yeah we could go and get a lot of different used cars for £10-15k or whatever - and that's great. Honestly I'm happy for you that you have the time and don't mind searching for a quality older used car.

We however, are happy paying for maintenance free motoring for a car that we absolutely adore, cannot wait to drive and will enjoy driving every day until we hand it back and choose another car that we love.

I imagine quite a few of the people interested in this deal could probably hand over the £3200 up front if they wanted to - it's not all about the money!

The point of my post is: there are people for whom these deals are great and there are those for whom this won't be viable. Please clog up the thread with your unwanted opinion if this isn't for you. Trust me, lease drivers have heard it ALL before...

Does anyone know if the rear seats fold down? Probably not but I know some small hatches do have folding rear seats.

If you bought a USED car for £3200 and sold it 15k miles and 18 months later, I'd be surprised if;
a) The car was anywhere as good as the one being advertised here
b) it didn't cost money you weren't expecting (tyres/brakes/other annoying problems)
c) The servicing was much cheaper than the £99 it would cost to service the 208 at 10k miles (Oh 60k miles sir, that'll be a major cambelt service please ...)
d) It was as cheap on tax and insurance as this one, whilst having similar performance/economy

Also to the person saying they would have a £10k mini, you do know the Mini has the same engine as this one, albeit older and more troublesome (google it)

I tried the older / faster / better route but the fact is with a new car, it is all covered by warranty and you don't spend your time wondering, what will break next / will it pass its next MOT

It's not for everyone, but this is a cracking deal

Just phoned admiral, went from £800 under my name to £990 with Peugeot as the registered keepers, which the girl said would be the correct way. Not the end of the world, but still annoying as it's the same person driving regardless of the actual owner!

Thanks, just to check will they all fold flat if I wanted them too? I'm thinking if I wanted my dogs in the back (with the interior covered over first of course).

You can't put a price on peace of mind....

Sorry don't know in regards to that, prehaps watch the peugeot carbuyer 208 video as they normally show stuff like that although the GTI may have a different tpye of rear bench. Peugeot live chat is helpful when I used it - http://www.offers.peugeot.co.uk/ - should be a tab on the right of this page.

2 year PCP on this car works out to £3769 deposit and £264.01 x 24 which totals £10105.24. This lease deal seems scorching...

I didn't raise the original point above, but out of interest, I googled this engine.

On Wikipedia, this is lumped together with the older N14 without variable valve timing and with the timing chain (death rattle) issue found on 2007-2010 R56 Cooper Ss.

Whereas until the launch of the R56, MINIs from the last four years used the updated N18 (higher horsepower than the original MINI N14 implementation, better mpg and VVT)?

So which engine does this one take after?

Looks an amazing spec, and wouldn't mind a 2 year lease (guess it's just a matter of searching). It ticks all the boxes! Now for the insurance to see what it'll cost me... £1013.36 :o FML!

Might be a silly question, but if I do go for this, can I continue leasing at the same rate after the 18 months (like a mobile contract)?

This isn't the 208bhp version. It is the 200bhp version unfortunately
The 208bhp version is a special edition by Peugeot sport.

If u could confirm then that would be great. Looking at Peugeot spec sheets only the special edition has 208bhp