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And reached the end of the lease, if you did, what was the price like to keep the vehicle relative to market price of a similar car.
I’m considering it and would likely want to keep the vehicle at the end of the lease for a period.
I'm with ZenAuto (part of Zenith), and I'm interested in this too as my lease runs out in February. Their contact says that you can't buy the car after the lease which seems daft to me, so let us know what they offer you.
Note that ZenAuto have been brilliant to deal with and recommend them for a private lease. They've even reduced my monthly payments based on me doing less miles than I originally thought I'd do.
Not an EV, but my last car was leased from Zenith. I asked for a price to buy at the end of the lease and they came back with a price that was nearly as much as the local VW dealership was asking for a similar age and spec car.
Zenith wanted £19,950 for my 3 year old Tiguan. Local dealer forecourt price for similar was £22,000.
When I pointed out that the dealer had probably paid about £15k - £17k for that car Zenith dropped the price to £19k for me and said they were confident of getting that at auction!
I declined and now have a nice EV on lease (Kia EV6).
Had I really wanted to keep the Tiguan I would have paid what Zenith were asking at it was a bit cheaper than a dealer and I knew the full history of the car.
I work in the sector but not for Zenith.
Most lease companies will give you a price and you might be able to negotiate a bit, but don't expect too much discount.
Most of their profit is generated by selling the vehicle at auction, so they're not going to cut into that and sell it than less than they can make at auction.
And contrary to logic, it's more hassle and cost (process wise) selling to an individual, so there's not much incentive for them to discount.
Doesnt matter who the lease co is, you will get offered a price (if indeed they want to sell you the car) you accept or dont.
Just check auto trader etc to see what similar cars to yours cost to buy.
I got a really good deal purchasing a lease car 5 yrs ago, sold it for a profit 2 years later, but I think those days are gone.
Can you afford to buy it cash? Dont forget loans are quite expensive at the minute, you just need to weigh up the cost of purchase to just getting another lease
Thanks all.
I know I’ll be able to see if it’s a good deal at the time but it’s too late then if my business case is predicated on a purchase price akin to auction sale price (say).
I probably have bikes to work operation in my head a bit, where purchase price is a fraction of market value, which obviously doesn’t apply here.