24 months 10 k. Personal deal £72.08 per month inc vat after you pay first month and admin fee
Let’s see if I have the sums right £2400 first month rental £239.99 admin fee 23 x £72.08 monthly payments
so REAL monthly cost is (2400 + 239.99 +(23 x 72.08))/24 = (2400 + 239.99 + 1,657.84)/24
=£179.08
so so that’s the real monthly cost.
Lets discuss the virtues of lease v buy v shed
oh let’s not forget is the car any good for the price
25 comments
Emeye
25 Sep 17#1
It is worth asking if they will do a deal with 1, 3 or 6 upfront payments instead - it maybe a little more expensive over the whole term, but there is less risk should something bad happen to the car during the lease, like a write off.
Also, it's worth seeing if a Skoda dealer can match the deal, as then you may avoid the admin fee - ask for the fleet manager, you're probably wasting your time with the usual sales monkeys on the sales floor.
gazdoubleu to Emeye
25 Sep 17#3
What's the score with a write off, isn't everything covered by car insurance?
rogparki to gazdoubleu
25 Sep 17#4
Nope , probably 60% -70% by car insurance , you'll need Gap insurance for the rest (another rarely mentioned addition to leasing ).
gazdoubleu to rogparki
25 Sep 17#6
Thanks guys I think a 'shed' is looking more favorable for me personally, a nicely depreciated diesel on a credit card with a 2 year interest free period should cover it!
MrSweeney to rogparki
25 Sep 17#19
Ah, the "Grim Reaper" of car lease deals has arrived...
rogparki to MrSweeney
25 Sep 17#20
Forewarned is forearmed - wouldn't you agree ?
CoeK to MrSweeney
26 Sep 17#23
The grim reaper of reasonable discourse I think you mean.
CoeK to rogparki
26 Sep 17#22
If your meaning of rarely is in almost every car leasing deal then yes it is rarely mentioned.
Sc0tchland to gazdoubleu
25 Sep 17#5
You'll need to get GAP Insurance, if the first year isn't covered by your car insurance.
Regprentice to gazdoubleu
25 Sep 17#18
Your insurance wont cover you for the up front payment of £2.4k. Write the car off driving off of the forecourt and you've lost £2.4k. With a lease your insurer sorts out the settlement directly with the lease company and you keep paying the payments til its been settled. You wont see a penny of the insurance money you'll simply be let out of the contract when the insurers settle.
Btw - imho a shed is any cheap car. Anything under 2k id class as a shed. A cheap car for running about in. Ive an 07 plate clio which i paid £675 for 2 years ago. Both MOTs have been £350ish. Cheap to buy, fairly cheap to run. Nothing exciting but its never given me any problems. By that logic i could probably get 5+ years out of my clio for just the £2.4k deposit on this deal. Horses for courses.
Bertz99 to Regprentice
26 Sep 17#24
That isn't strictly true - most insurers will pay the invoice value on a car less than 12 months old (new for old) so you could actually end up depending on your total loss terms of the lease. Hibbers1 on here pointed out that for direct line the new for old only applies if you are the owner rather than the registered keeper (which would match your example). There are also some insurers offering 2 years new for old (would be a little contentious if you were to write off a car every 18 months). As always its down to the fine print on the lease terms and the insurance terms you have, working out what you want gap to cover and then ensuring you take out a policy that covers that - the highest number of complaints raised to the ombudsman is for gap insurance not covering what people thought it. Of course Gap for lease coverage, as it covers less, is also not huge sums. m5rcc has previously recommended ALA which I think presently has a discount code another poster put on here in the last few days.
afroylnt
25 Sep 17#2
Good lease deal & a nice car as well; I am looking to buy though as its cheaper for me to own due to wear & tear issues. This model is only aviailable via a lease.
Might even work out cheaper than the original deal posted. Admin fee is £298.
loofer
25 Sep 17#8
good deal, getting closer to that £4k mark. Assuming this is the latest model, it's fairly decent spec. Still doesn't look great but who cares.
lastjunkie
25 Sep 17#9
forgive my ignorance, but what does shed refer to?
2nd hand; bought from a dealer's shed?
Dr_Lovegod to lastjunkie
25 Sep 17#10
From the following website I don’t own the words may cause lots of banter
Mada06 to Dr_Lovegod
25 Sep 17#11
I don't think that's what it means in this context. I'd be inclined to think it means the trader is selling a part exchange off the premesis rather than on his forecourt for example or perhaps the trader is an amatuer and doesn't own premesis of their own.
gphandley
25 Sep 17#12
A shed is a banger, crap car.
cullies
25 Sep 17#13
only 8,000 miles per year
Daveh1664
25 Sep 17#14
These are surprisingly quick. Same 0 to 60 as a nineties hot hatch
afroylnt to Daveh1664
25 Sep 17#15
Just driven one & agree - quite nippy performance; very driveable.
fr0d0
25 Sep 17#16
£40pm dearer than the recent Mercedes C300 deal on here. Failing to see the attraction.
Guzzle to fr0d0
25 Sep 17#17
A 2yr Merc C300 lease for only £140 per month? When was that posted?
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Opening post
Good price for the car.
24 months 10 k. Personal deal £72.08 per month inc vat after you pay first month and admin fee
Let’s see if I have the sums right
£2400 first month rental
£239.99 admin fee
23 x £72.08 monthly payments
so REAL monthly cost is
(2400 + 239.99 +(23 x 72.08))/24
= (2400 + 239.99 + 1,657.84)/24
=£179.08
so so that’s the real monthly cost.
Lets discuss the virtues of lease v buy v shed
oh let’s not forget is the car any good for the price
25 comments
Also, it's worth seeing if a Skoda dealer can match the deal, as then you may avoid the admin fee - ask for the fleet manager, you're probably wasting your time with the usual sales monkeys on the sales floor.
Btw - imho a shed is any cheap car. Anything under 2k id class as a shed. A cheap car for running about in. Ive an 07 plate clio which i paid £675 for 2 years ago. Both MOTs have been £350ish. Cheap to buy, fairly cheap to run. Nothing exciting but its never given me any problems. By that logic i could probably get 5+ years out of my clio for just the £2.4k deposit on this deal. Horses for courses.
Hibbers1 on here pointed out that for direct line the new for old only applies if you are the owner rather than the registered keeper (which would match your example). There are also some insurers offering 2 years new for old (would be a little contentious if you were to write off a car every 18 months).
As always its down to the fine print on the lease terms and the insurance terms you have, working out what you want gap to cover and then ensuring you take out a policy that covers that - the highest number of complaints raised to the ombudsman is for gap insurance not covering what people thought it.
Of course Gap for lease coverage, as it covers less, is also not huge sums. m5rcc has previously recommended ALA which I think presently has a discount code another poster put on here in the last few days.
fleetprices.co.uk/per…ack
Apparently the 1.5 is the new engine and is potentially more economical.
fleetprices.co.uk/per…203
Might even work out cheaper than the original deal posted. Admin fee is £298.
Assuming this is the latest model, it's fairly decent spec. Still doesn't look great but who cares.
2nd hand; bought from a dealer's shed?
car leasing and gap payments explained university of london