Car Leasing for 2nd car

For years now, in addition to my main motoring interest the Coupe! I have been getting by driving around in £1000 - £1500 10 year+ old used cars for a 2nd car & I'm getting a bit tired of having to maintain two cars etc.

I am a low-mileage per year urban/town driver (less than 10'000 miles) & use the second car for a 5 mile drive to work, shopping, fetching & ferrying my niece around etc etc

I have just had a promotion + a decent pay rise, so I thought this may be the opportunity to enjoy something newer.

I have no interest whatsoever in funding a new car via finance or a bank loan etc, I have been considering a personal lease scheme - which seem to be getting very good value recently & more & more popular.

Yes I know you are basically 'renting a car out' but for what I want it looks like I could get something for less than £100 a month.

I know you will never own the car - but with the mass depriciation I wouldn't want to own it anyway! - I already own my perfect car - a Fiat Coupe but obviously you have no worry of reliability, maintaining the car, breaking down etc & of course the opportunity to drive a brand new car! (which I have never done in my entire life & I'm 40 years old)

a rough quote I looked at was a Citroen C1 1.2 Flair 5 door initial down payment of about £700, then £89 per month inc road tax. I wouldn't have a problem with a 3 year lease.

so basically I am asking - does anyone on here lease their 2nd car?, is it a good option for my requirements. Are these quotes true or are there always extra costs on top?

Can anyone recommend any good value/service companies? - or ones to avoid!

Sorry I don't know much about it having never looked into it!

Thanks in advance

I lease my only car (a Seat Leon). I did all the sums, took into account my needs and it was the best way to get the car I wanted.

The headline price you see quoted will normally be true, but with some caveats. The thing that significantly pushed the price up is mileage, so you should be ok (most are quoted with either 8 or 10k annual mileage).

Maintenance is usually extra as well.

Cheers, yes 8K miles would be perfect.

All my UK road trips away are done in the Coupe of course

Yes I know servicing & wear & tear items are extra - but same as any new car you buy.

I currently drive a 2004 1.6 Zetec Fiesta for my daily use, which isn't that good on fuel round town (about 34mpg) & tax is £100 for 6 months.

I've only had it 10 months & its cost me nearly £400 in maintanance & repairs already & I don't have time to maintain 2 cars I'm trying to do my house up.

Seriously considering it if I can get something suitable for under £100 a month

Usually there's an arrangement fee also.
If going for that car i would go for something like this

https://www.vehiclesavers.com/car-leasing/citroen/c1-airscape-hatchback/1.2-puretech-feel-5dr.html

Only 1 month down which is your first payment then another 17 at £119.

I would have a lease car but not for that duration of three years. Your payments stay exactly the same as the car value continually decreases.

The above link you pay £2142 over the term for the lease which is likely less than the depreciation occurred in 18 months. Thats how i would make it work for me.

Yes - examples of different deals exactly what I'm looking for thanks

No, not that particular car - that was just an example of what would suit my needs for my monthly budget etc.

Not a bad spec either for that class/lease price - A/C, Bluetooth, DAB etc

If I was going to go into the £120 a month bracket prob go for the new Fiesta.

I'd be happy to put down more than 1 month down in return for £100 a month or lower.

This is what i was looking at for the wife recently.
http://www.pentagon-vauxhall.co.uk/offers/new-car/vauxhall-corsa-sting-special-offer

Stripes are optional thank god.

Yes some of the Finance deals are very good too now. but I would just start again at the end of the agreement with another new car or give it back, so still renting a car out as such.

I missed out of this unfortunately by a day.
http://www.hotukdeals.com/deals/peugeot-...an-roof-2216026

For £160 a month it would of suited us.

If you spot any great deals post them here. I am now of the same mind. Swap for a new car every 2 years and keep payments the same or drive them down.

You can get the new facelift Corsa VXR for £149 deposit and £149 a month.

Decent performance for not a lot of money.

http://www.astonvauxhall.co.uk/new-car-p...-personal-lease

I'm not clued up on this at all, so you might be aware and know more about this. I was surprised that my colleagues friend who had leased a Fiat 500 had to MOT it before returning the vehicle at the end of three year lease. This may be common practice? and probably not a problem on a three year old car.
Obviously she was happy enough, to take another lease.

Cheers, but bit more than I want to spend per month & performance isn't on the radar at all (I have my performance vehicle )

My choice will be all about economy (50mpg + ), low insurance & a few toys will be a nice bonus 99% of this vehicles use will be 5 mile journeys or less in a very congested town, & alot carrying a 6 year old.

oh & must be 5 door

I will take a look at other vauxhalls though if price is right

I have a Swift on PCP. I'm now into my 2nd year.

9000 miles a year, deposit of £500 and a monthly repayment of £118.

When it went in for it's first service the salesman said I could swap it for a brand new one if I wanted to. Unfortunately they could only offer me a 3 door Swift. at the moment I still need a 5 door.

After the 3 years I'm going to get a Swifty Sport. Salesman quoted me £149 a month.

There are some good deals out there at the moment, if you want to a Fiat to keep your Coupe company, how about a 500 Pop 1.2 £119 deposit and £119 a month.

That's an amazing deal!

Wow that really is.. may look into this

On the Corsa deal it's 5000 miles PA - is that enough?

I pay £380 all in on my Scirocco TDi with unlimited milage, servicing, repairs, MOT's and insurance. That's over three years.

Challenge for me is that I'm bored of it already (1 year left) and want to change it. I don't have the option until after the three years.

That's over £13K I will have spent for the three years term, after which I simply give the car back.

Whilst it's lovely to have a brand new car, my thought process is that for the money, would it have been better to have just taken a loan and purchase a car out right.... That way I can change it when I want, coupled with the fact that I will have an asset (albeit depreciating) to show for the £13K I will have spent.

It worked for me at the time, but i'm not sure I will do it again at the renewal date..

It is a great deal on that Corsa! - not what I want though.

I'll never pay more than £120 a month for a lease car

Interesting real-world figures. It looks like one can buy a nearly new one for about 20k. A 3 year old one sells for 10-12k. Balance running costs and remove trade-in value and you have you 13k. It does not really very much different value than buying outright.

That corsa come with road tax for the terms which helps.
£380 is quite alot, but if you purchased you will still have insurance mot etc.
I think a short term lease is the way forward if considered.
I will enquire about the corsa and feedback.

Do you ned gap insurance with a lease car though?

Be very interested in any feedback. If the figures are £149 deposit and £149 a month, I'd be seriously tempted to get my wife one.

Gap insurance is offered along with the usual paint care applicant, internal scotchguaring etc. I took out the Gap on my Swift, cost me £100 for the 3 years.

Just called,£149 is the amount if you are a vauxhaull partner discount qualifier.
Both myself and partner are, which can be NHS, govrment,millitary and large organisations.
I have been quoted for 10,000 miles.
£176 down and £176 per month for the remaining 23 months.
Includes road tax, metallic paint option and aa roadside.
For 3 payments down you are looking at £482.50 down and £162.19 a month.

friendly guy called Martin. The new vxr hasnt officially hit the showrooms yet but have limited edition corsas avaliable for viewing and test drives which are similar in design.

Excuse my spelling as i am on my phones

Pentagon are offering a similar deal so it might be worth trying to play them against each other for a better deal.

http://www.pentagon-vauxhall.co.uk/offers/new-car/new-vauxhall-corsa-vxr

Sorry for the hijack jlow. The leasing does seem a very feasible thing to do if the deal is right.
Seriously looking at that corsa straight away means we don't have to pay car tax for two years. Atm our civic is 18 pound a month ish. Bring vxr monthly to £158. Vxr first year tax is £295 and second year £201.

There's a leasing comparison table on whatcar website with some good deals on c1's ect so worth a look.

Coupedummy you deal thief

http://www.hotukdeals.com/deals/corsa-vx...auxhall-2232821

Too right great deal! I was following the 208gti deal so good alternative

Are you going to order the VXR?

Think so.. We need to look at a corsa later for sizing.
Also where we are first thing is vxr badge removal.

3 month lead time as well so gives alittle time to sell a coupe, a civic and adjust to payments.

CD, do you think you'll do think you'll do the 10k miles a year? If not, you can always take the 5000 pa contract and at the end of the 24 months take the 6.64p hit on the extra miles.

In fact, if you take out the 5k per year deal, do 10k miles the hit works out at £256 a year. Add that on to the £149 and in theory you're paying £170 a month.

I spoke to my Suzuki dealership last night about finishing my current PCP early. The outstanding balance on the finance is less than what the car's worth even taking into account the exit fee. Makes the VXR very tempting.

I think we will but need to check how miles since we owned the civic.
New car novelty will proberbly add note miles as well as myself using it. Sure she does 6-8 ATM. See your point on the mileage though...

My work car is leased, Honda Civic 1.6 diesel with a 3 year maintained lease doing 20k per annum. £140 per month.

That must be on a Business lease...

Man in the street would bite many hands off to get a fully maintained Civic for £140 per month!

Have you found anything suitable jlow?

We've been doing the numbers so maybe making the car tomorrow on the vxr. Popped into a Vauxhall dealership today who shook my hand and sent me packing telling me I should take this deal as they couldn't even offer a lower model at this amount.

Yes thread hacked by performance car discussion.... ha. Not what I want - I need the mgp high & insurance low

I think the Citroen C1 is a good short term lease choice for my needs - it's definitely the best equipped in it's class for under £120 per month, got DAB, touchscreen, A/C Bluetooth etc & for a bit more that Airscape roof is a nice toy, my niece would love it

Example:

http://www.vehiclesavers.com/car-leasing/citroen/c1-airscape-hatchback/1.2-puretech-feel-5dr.html

the normal model (non airscape) can be got for £100 per month

if I do go ahead & it's a success, I will consider a bigger/more performance car for number 2

Just case now of finding the right deal!

Would it be better for 18 momths as the option? Might you miss second year servicing?

Yes 12 or 18 months initially which ever is the best deal obviously the longer one

Yep, business lease.
It was one of those offers that popped up, had to look over it a few times to find the catch. No catches.
Just popped up at the right time.

When the New registrations come out do the prices tend to go up for leasing? or is it nothing to do with it?

Most companies say 'all our cars are brand new?'

Unsure, but I think the best offers are to promote sales for the new reg.saves cars hanging about waiting to be sold I guess.

Thanks to Danthemanc it looks we will be getting a 2015 corsa vxr in stone grey in Sept. Excited but nervous.

We now need to shift a coupe 20vt and civic ep2. Cinq for life though..lol

Good choice of colour. I would of chosen grey too. I've owned a 2008 Corsa VXR about 5yrs ago. They're a fun car and the recaro front seats are fantastic. The dash wasn't great but the dash in the facelift you will be getting looks like a huge improvement. For the money they're currently available for, they're a performance bargain. Enjoy

It's a new reliable car for the Mrs and some sporting fun for the weekend for me. we didn't want a colour that draws more attention than it may already does.

Jlow cheap and cheerful?
http://www.nationalvehiclesolutions.co.uk/Citroen-C1-1.2-FLAIR-5-DOOR-68HP-Personal-Lease/37608

Very cheap motoring with 10k miles

It may seem like a cheap deal when you look at just the monthly repayments of £74.69 However, if you take into account the initial rental of £448.14 and the Admin fee of £199.99, over the 12 months you're actually paying £128.70 per month!

That's the thing i don't have to pay with the vauxhall dealer. Admin fees.

Does a lease car come with any fuel? Just a question, a tank of fuel would certainly be nice.

Mines on PCP and it came with a full tank of fuel and they threw in mats as well

http://www.hotukdeals.com/deals/citroen-...windows-2236466

Have you moved forward with this jlow?

Our car gets delivered end of sept and currently being built.

Ok just an update, go the paperwork now so car cant be far off. I know it has been built, awaiting quality checks and delivery.

Should be on our drive by the end of the month.

We have also had an upgrade inherently as the my16 model comes with onstar system built in. Car has a full internet connection to provide wifi to devices, panic button, vehicle assistance(lock and unlock car etc).

Looking forward to it now.

The car will be delivered with 10 litres of fuel. When asked to collect,will they fill the tank (tank is only 45 litres) they said they would throw another 10 litres in.

Not really worth it for us as we would have to collect it from Leicestershire for another £11 of fuel.

I've just ordered a C1 airscape feel 1.2 puretech to share with my 17 year old daughter. I wouldn't want to endanger her by sticking her on the coupe insurance! Direct with Bristol Street, £297 then 23 x £97. 10 week wait for it to be built though. £12000 car (includes metallic paint) £2500 to 'borrow' it for 2 years. I can't believe it will be worth anywhere near £9500 by that point.

Bargain motoring. A decent spec motor aswell. Think it's the way forward for some. So that car equals £110 a month or so with road tax included?

Cheap motoring from a-b.

Our vxr is supposed to arrive this week to the dealership but I am going to put it off if possible until the 28th as its payday.

Pretty much. No tax, 2 services max. My daughter will be 2 years wiser and able to buy her own car and I'm sure I'll be ready for something with a bit more power. Good luck with your VXR, say you're away on holiday til then!

I'm looking at leasing an Abarth 595 for a year from Fiat at £199 per month. It's a fair bit more expensive than the C1 but then it's probably slightly quicker.

I am actually on holiday till then. Hopefully at spa Italia and Nurburgring. Back on the 28th...the vxr has had loads of orders and the vxr online forum is quite good so I'm sure everything will be good. It will be the wife's car but I will be borrowing it mainly I think.

The Abarth looks very nice, what's the deposit down on that?

It's an initial payment of £199 plus 11 payments of £199 - so no deposit as such it seems. That's part of the appeal.

I should add it's the Turismo 160bhp model with leather trimmed seats and 17" wheels.

Looks more expensive than £199 a month!

Here's the details

http://edm.variouk.com/view/a1ICZtZzNNOvxlP9

I Googled to see what they look like, £199 is a bargain. (I wasn't questioning your deal) The two tone cars look good, are you going for pastel?

I'm probably going for flat red (the standard colour) - I'll see what's available. I'm not too fussed - I'm only planning on keeping the car for a year at which point I'll have a better idea of what I need with my new job/location. The only colours I wouldn't consider is the blue or beige

Agreed bit of a bargain. If we had found a decent 12m deal we probably would of done something like that.

Finally got the paperwork through for the 595 Turismo yesterday - took Fiat Fleet Services 10 days to process - the poor sales guy at Desira Bury (St Edmunds) was pulling his hair out.

Will pick it up next weekend when we take Charlie to Cambridge.

Hope to see it in this neck of the woods soon!

Wow. That was quite quick.

Our vxr finally gets delivered on Monday after ordering in July.

The car was in stock -but I think the paperwork took longer than the car would have taken to build

Here she is

Face book like. Well, love actually.

Those seats are lovely.

How many miles on the clock and how much petrol did they give you in the end?

8 miles on the clock and ten litres with delivery. Just done a couple of miles in it. But nervous as officially not our car. Remus exhaust is a nice addition as slightly throaty on acceleration

Looks very tidy, CD, nice one!

As Stepdaughter's Mini has finally died (again), I am interested in at least exploring the lease option for her. Chatting with MeanRedSpider on Saturday (over a very tasty coffee and walnut cake) there was mention of some leasing that includes insurance. All sounds a bit too good to be true for a 21-year-old, but can anyone point me to such a thing?

Here's the Fiat one, Jim

http://www.fiat500withinsurance.co.uk

I've not read the T&Cs

I'm pretty sure I've seen that Vauxhall are doing something similar.

PS - does coffee come in a teapot?

Nice car CD - interested to hear how it goes. Get mine on Saturday

A lot of car for the money. 7 more weeks wait for me. I've no idea what to do with my 20vt plus. Not in great condition, strong engine but needs clutch and cam belt. Decisions decisions!!

Thanks for the linkage, MRS, I'll follow it up tomorrow.

PS - Tea comes in a teapot, coffee-and-walnut cake comes on a plate! Wouldn't catch me drinking the wretched stuff when there's a a proper brew on offer!

the subtleties of language

BTW - the Fiat comes with one of those driver monitoring black boxes so I'm sure it's aimed at relatively new drivers.

And just *who* has access to the data from that box?

Looking at the deal, I don't think it'll work for Stepdaughter. The insurance is for one year out of the 3 and I don't think she'll get on with the black box after driving her own way for a couple of years.
I think she will have to revert to trying to find a cheap, reliable shed.

Jim, have a look at Marmalade.

My daughter passed her test last week and is now looking at getting a car. She's now at Uni and as the Course isn't a full 5 days, she's got herself a job and has money to throw at a car.

I've looked at the reliable shed route but a new car through Marmalade (with the Insurance) or the deal MRS has linked are now on the list.

Thanks bezzer. I looked at Marmalade yesterday, but I'm still not convinced that Stepdaughter will be able to spare £175 a month (minimum) consistently. When I ran the simulation, it only gave an insurance contribution, plus she commutes around 200 miles a week and has a boyfriend who lives 100 miles away, so her mileage might be a problem.

To be honest, it's always going to be a struggle on a low wage with high insurance and mileage. I'll keep looking for options...

It might be cheaper to move the boyfriend.

Although I'm still waiting to have a conversation about this with stepdaughter, it is definitely back on the table as a possibility.
Even if she does 10k miles per year, this will only add £13 per month onto the total.

What I'm not sure about is what happens at the end of the 4 years; is she obliged to pay the "balloon" payment of around 4k or can she simply hand the (painstakingly cared-for) car back and walk away?

Also, I presume she *must* abide by the service intervals; how much will it cost to have a brand new car ramped and stamped over 4 years? My guess is not a vast amount?

I'm still trying to work out the cheaper option of a £1k banger maintained on a shoestring or £200-ish per month plus maintenance for a shiny new Fiat 500.

If money weren't so tight, the PCP would be a no-brainer.

Given that he owns his own house in Newbury, considerably closer to us than where she currently lives, I'd be more inclined to move the Stepdaughter. Though I suppose that then makes the commute to Cambridge a bit pricey...!

I'm snot sure I would take a 4 year lease. At that point expect an mot and possible niggles unless maintenance is included

As I'm nearly two thirds of my way through a 3 year PCP, here are my thoughts.....

If she can stretch to a PCP deal, do it. I'd not bother with a Maintained one as it's highly unlikely she'll have to replace tyres, exhaust, shocks etc. But see what the difference is between a maintained and none maintained deal is. As for servicing, yes it has to be serviced at the Manufacturers intervals (It doesn't have to be done at the Main Stealers). With mine it's at 9k which just happens to be my annual mileage. The salesman has told me to bring it back just before it's 2nd Birthday and they'll swap it for a new one (They offered me a new one at 12 months but it was a 3 door and at the time I needed 5 doors).

If she decides to keep it for the duration of the contract (PCP, not lease), she has 3 options, hand it back and walk away, pay the balloon payment and keep it, or use the 'equity' (Current value minus the Guaranteed Future Value) in the car as a deposit for another one. Option 3 is what the majority of people do.

One thing to remember though, if you do intend to to use the equity for another car, the final valuation is dependant on the condition of the car. Ford knock £100 off the GFV per scuffed alloy, £50 per panel with a dent and if the interior is dirty they can knock off £200 for a valet! Very easy to lose £500+ equity). So she does need to take care of it.

Sorry for waffling....

That's really useful to know, bezzer - not waffle at all!

We are looking at PCP, not lease. I agree that maintained is probably needlessly expensive.

So, as long as the car is in good condition, she has no liability for the balloon payment if she decides not to keep it at the end of the 3 or 4 years?

I think 3 years would be better if affordable.

Yep, after 3 years just hand it back. And as you said, as long as it's not turned into a complete shed, she has nothing to pay.

The GFV is usually set at a generous level to encourage you to take another car. This does reduce by a fair bit if you go into a 4th year. However, if you have no intention of buying it, it's not an issue.

Got the Abarth today. Quite a nice and fun little car - pretty quick and nicely put together. Don't much like the instruments - not very ergonomic - but the rest of it seems good.

Any picture Mrs. Would be cool to see this. There was a very good deal pcp for a corsa. £500 down and 99 a month.

http://www.pentagon-vauxhall.co.uk/offers/new-car/vauxhall-corsa-sting-special-offer

Would need to arrange more miles though.

Yup. The app I use to upload pics to my account seems to have lost my account details so I need to sort that

Nice!

Thanks, Jim. It has an embarrassingly hopeless turning circle for a small car (someone suggested that this might be related to the positioning of the intercooler) so I now know why it comes with parking sensors

Well, as a former 20VT owner, I'm sure that simply adds to the nostalgic feeling!

Absolutely. Even more so as a former Alfa 33 owner. I will be reviving the parking techniques I've needed for those cars

So after a few weeks we still have the new car bug. The vxr is pretty poor on mpg but we didn't buy it for that. Averaging about 26mpg.
Car is fab especially the inbuilt wifi. Service was great from order to delivery and wouldn't hesitate using Aston Vauxhall again. Problem I having is prying away from the Mrs. She's lived in it since we have had it.

Looking at all the different brokers I think again I would prefer to order direct through a dealer again. You generally save on arrangement fees and can communicate directly.

Looks good CD.

The interior is light-years ahead of the Corsa D VXR I owned many years ago, although, I loved the Recaros in mine so it's good to see they're still included. I'm sure the MPG will improve once you add a couple of thousand miles.