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I'd want to see a proper quote from the leasing company, rather than a cut and paste e-mail on a web page, but it does it very, very cheap.
Not really.
Pay less than £4000 in total to drive a brand new, nicely equipped Octavia for 2 years and 16000 miles. You insure it like your own car, you service it to schedule, the lease firm usually taxes it as part of the price, you hand it back at the end. As long as you've not damaged it beyond fair wear and tear (google "bvrla fair wear and tear"), which are reasonable IME, no extra charges.
Downsides? You're committed for the period and it can be quite expensive to exit early if you needed to. The excess mileage fees can be steep if your usage changes drastically (but also can be pretty reasonable if negotiated before the end of the lease).
Someone will be along in a minute to tell you how you can buy an old Focus for 50p instead.
Missing, like what?
They obviously have an overstocking issue, so are spanking some cars out. I took advantage of this with a Superb earlier this year (not that cheap, but not far off for a spec'd up Sportline).
Someone will be along in a minute to tell you how you can buy an old Focus for 50p instead.
Financing cars is for mugs. You can buy an old Focus for 50p & spend your weekends fixing it for fun 🙂
I don't think so - it's a *very* good deal. If I needed a new car right now I would be tempted, They don't seem to get the best Trust Pilot reviews though.
Less in leasing cost £3.9k) over 2 years than the depreciation. If anyone’s in the market for a new car like that it’s a bloody good deal. Likewise unsure I’m missing something but don’t think so.
There was a similar deal on the lower spec petrol last year. I opted to buy a 6mth old example and think the cost will be very similar but without the worry of damaging a lease vehicle or limited mileage. Very cheap though and a car that does everything well.
Not really an overstocking issue though is it ?
19 week delivery so not even made yet
Im not generally a fan of leasing, so I would ask what kind of car you could buy outright for <4k, and how much that would be worth after 2 years.
downsides to that are you pay for any problems, and you don’t get the shiny new car feeling.
upside is, you don’t need to worry about some twunt denting the door when you’re parked up, and you will own it.
buying a car, of course, is relying on luck re reliability etc.
It's not vastly different to what I'm paying from Simpsons Skoda. I've got a 2L diesel SE Tech with a higher mileage allowance than that, it's costing me £5K over two years.
I've just looked and they're doing a very similar deal to that one now: https://www.simpsonsskoda.co.uk/pch-offers/se-tech-offer/ - comes in at £4077 in total. Full list of offers at https://www.simpsonsskoda.co.uk/pch-offers/
When I got mine, they were totally flexible over the way you pay - I could opt to front-load more or less money on the deposit, and the monthlies were adjusted accordingly. I could also opt for a longer lease, but it wasn't cost-effective to do so (a third year came out at another three grand).
if it's a business contract is there VAT to be added?
If you look, the £2400 + £60 a month is the personal cost. For business users its £2000 + £50 a month (plus VAT). So the same.
Im not generally a fan of leasing, so I would ask what kind of car you could buy outright for <4k, and how much that would be worth after 2 years.
That is a pretty pointless argument - £4k could buy a 10 year old Golf that could cost that again in repairs over two years. Or a 3 year old Citroen C1 which is a vastly different type of car. And neither is a brand new car and neither has a manufacturer warranty.
agreed, you could be buying a peach or a dog at that price.
Independent lease companies generally get offered a bulk deal from a manufactuer, they then go to market with a very attractive lease deal to generate enough orders to fulfil the commitment to buy in bulk.
They don't make much profit out of each unit so its vital for them to maximise the order bank.
Overstocking is not the issue, at this time those cars are spreadsheet entries in an office somewhere in the Czech Republic.
Buying from a dealer is a better option as you will have full flexibility on colour and spec, and may be able to choose something from a holding compound which should only take a couple of weeks to come in.
Im not generally a fan of leasing, so I would ask what kind of car you could buy outright for <4k, and how much that would be worth after 2 years.
downsides to that are you pay for any problems, and you don’t get the shiny new car feeling.
This is what sold it to me. I can spend £5K over two years and have nothing to show at the end of it. Buying rather than leasing, the same amount of money would net me something like a 7-year old Focus. At the end of the two years I'd have... a 9-year old Focus. It then effectively becomes free motoring, but it's getting to the age where big-ticket items start needing to be replaced (or it needs to be fixed with a new one). Plus if I buy and the engine falls out six months later I'm boned, whereas with the lease I've got a warranty for the entire time I have the vehicle (plus breakdown cover, accident management service and so forth).
If I were to buy new, at the same cost as leasing I'd pay for the car in like 8-10 years. And then I'm in the same position as before, nicer car than the Focus but it's a decade-old car. Nearly-new used to be a great option, but when I looked there weren't great savings to be had - I couldn't find anything similar to the lease deal which wasn't actually more expensive.
The other option is bangernomics, get something for a grand and run it into the ground. And life's to short for that, I like driving too much and do too many miles to justify an unreliable rustbucket.
So for £2.5K a year, I can have a top spec, brand spanking new car every two years in perpetuity. Seemed like a no-brainer to me.
check their postcode on google maps street view TF1 5QX
Buying from a dealer is a better option as you will have full flexibility on colour and spec, and may be able to choose something from a holding compound which should only take a couple of weeks to come in.
Pick one of those, but yeah. I had free reign on colour, engine etc, if I was happy to wait for a few months. Alternatively, "there's six cars just come into port, you can have one in a fortnight" but they were all the same 2.0TDi engine and I had a choice of three colours.
Do they live in the castle?
When you hand the car back at the end of the 2 years, do you get the deposit back? Or do you use it as a deposit on the next one?
Its not a deposit its an advance rental
Ah
When you hand the car back at the end of the 2 years, do you get the deposit back?
I think every one of us here would be signing up for that deal!
I keep looking at this, but i do c18k a year which pushes the price up a bit.
Not a deposit (although sometimes referred to as that). It's just the initial payment. You end the agreement with nothing.
When you hand the car back at the end of the 2 years, do you get the deposit back? Or do you use it as a deposit on the next one?
Lol if only. Lots of similar deals on non Skodas can be also found if you don't want your mates to laugh at you :-).
I must be getting old because I like the styling of Skodas. Which is weird because it's us oldies that remember the days when Skodas/Ladas were a laughing stock. I remember the days of looking though Parker's Car Price Guide to see what was the cheapest car out there - I think it was a place especially reserved for the Zastafa Yugo.
Lots of similar deals on non Skodas can be also found if you don’t want your mates to laugh at you :-).
When I was looking, the Skoda was the cheapest deal for a car of that class by a very long way. I'd be interested to see what these "similar deals" are that you refer to. The price I was quoted for my first choice, a Mondeo, was almost double the Octavia.
Mates laughing at you for owning a Skoda? It's not 1995 any more. The Octy is lovely, it's mostly the same bits as VW / Audi with a different badge.
Im not generally a fan of leasing, so I would ask what kind of car you could buy outright for <4k, and how much that would be worth after 2 years.
That's assuming you only have £4000 at the moment. If you have more you could buy any car at any price and sell it after 2 years. The cost is then the difference, plus whatever running costs are included in the PCP deal, to make a meaningful comparison. You'd also need to factor in the interest you could earn on that money if you didn't have to pay upfront but at the current rates that's going to be diddly squat.
Lots of ways to slice it.
I must be getting old because I like the styling of Skodas. Which is weird because it’s us oldies that remember the days when Skodas/Ladas were a laughing stock.
If you were really old (and probably not British) you would remember the days before that when Skodas were pretty swish motors*. I can remember when Nissans were a bit comical, Mitsubishis were called Colts in case Grandad associated them with Zeros attacking his ship in Singapore. More recently Hyundais were a bit, well you know, "naff".
*Back in the 30s they were so swish they even had a model called the "Superb"!
https://www.telegraph.co.uk/motoring/columnists/neil-lyndon/7922478/Skoda-has-the-last-laugh.html
So for £2.5K a year, I can have a top spec, brand spanking new car every two years in perpetuity. Seemed like a no-brainer to me.
Is that including everything (insurance, tax, servicing etc?).
Is that including everything (insurance, tax, servicing etc?)
Well no (apart from any VED that is due which is usually covered in the lease payments) but the other costs also have to be paid on any other car - along with MOT if it is >3 yrs old.
Mates laughing at you for owning a Skoda? It’s not 1995 any more. The Octy is lovely, it’s mostly the same bits as VW / Audi with a different badge.
They make you a hit with the ladies too
Why has no-one mention getting your brother in law to make the initial agreement? That's always betterer.
Is that including everything (insurance, tax, servicing etc?).
There was an option to add extra cover for things like tyres and servicing. For a two year lease it didn't seem cost-effective, it's on some long-interval service plan and at the point it'll need new tyres I'll be handing it back. (Sod's law, two weeks after receiving it I had a puncture.) If I were keeping it for longer I'd probably have gone for it.
Insurance is killing me though. I've had company insurance for like 15 years, no NCD because I was hit & run whilst parked up overnight and they class it as own-fault as there's no third party to claim against. First year was North of £1700 (and my automatic renewal just came through and it's gone UP £50), bastards.
Lol Angeldust - what babe magnet are you driving? You keep slagging Skoda's off so it must be good...
And yes I own a Skoda and no I don't think it's amazing but neither is a VW etc.
Which is weird because it’s us oldies that remember the days when Skodas/Ladas were a laughing stock.
I remember when the Skoda/Hyundai dealership opened in Grantchester, Cambridge because my Gran won a brand new Estelle in a competition.
Awful car, hilarious handling though.
Angedust trolls Skoda drivers at every opportunity 🙂
Skoda dealers will usually match this sort of deal and sometimes improve it.
The benefit is you can lay down much less up front.
I got a Karoq 1 DSG for 450 down and 220 a month. The dealer gave me a 350 cashback loyalty. So I only put £100 down deposit.
20,000 mile servicing too.
Blisteringly cheap for a new motor.
Lease prices fluctuate a lot though.
People on net specialise in comparing lease deals to used cars. And forgetting a reheated take-away is not the same has home cooked steak.
Lada Nivas are more durable than any modern crappy SUV and used by mountain rescue, Foresters and Hunters in much of Eastern Europe and Russia in tempratures down to -40 C
A family member has a 2001 Octavia that has just passed 800K with only a clutch replacement.
Mock them at your peril! 🙂
Any deal on Simpsons is the same as any Skoda dealer can get.
Not surprised about the long wait - the factories all shut down over summer so lead times are hooge.
I’d be interested to see what these “similar deals” are that you refer to. The price I was quoted for my first choice, a Mondeo, was almost double the Octavia.
Along with "pfft, that's not a good price", a common thing said on leasing threads is that a 'premium' brand is often cheaper than the 'cheap' brands because of the better residuals. And yet I've never seen a 3 series for £160/month.
Company I use, bloke I know has a similar deal on various spec models of that skoda. I'm not due a new deal for 5 months or I'd be having one.
My last 2 cars have been Skoda lease cars, Octavia Scout, now a Superb. The deals appeared to be better than the other brands I looked at. Generally, the dealer deals are better as they include metallic paint and have no admin charge. Broker deals tend to focus on low monthlies but high deposit but the total cost is similar.
I'd be happy to keep the current Superb but I don't think they are allowed to sell it to the person who leased it for some reason.
I've been offered to buy two of my lease Skodas to purchase.
They weren't amazing deals but you can bid back.
And yet I’ve never seen a 3 series for £160/month.
Because a Skoda and a 3 series are not comparable. The best way to judge lease car value is a percentage of what you would pay for the car outright (new).
I'd want to drive one with the 1 litre engine before committing through fear of it being underpowered but otherwise it looks good.
I was close to leasing when I changed my car at the beginning of the year, i was looking at Seat Leon estates. The 1.8 TSI FR was about £300 a month over 2 years with just 1 month up front. That was 18k miles too, and interestingly 18k was cheaper than 12k.
I bought my mates 330D in the end, but was close to taking the lease. The hassle free definitely appeals