Lease plan - what would you go for ?

Honest John Back Room » Motoring discussion
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Wed 26 Mar 2008 20:35
Lease plan - what would you go for ? - Richie_green
Hi

I am looking to buy a new car having had problem after problem with the last 3 used cars I have purchased.
Been looking on the net and I am interested in the lease plans where we pay a deposit and then pay a monthly payment for a period then hand it back at the end/pay to keep it.
We need a family car and have a budget of around £230 per month - can anyone recommend suitable vehicles? I like the look of the Nissan Qausqai

Subject line tweak

Edited by Pugugly on 26/03/2008 at 20:48

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Wed 26 Mar 2008 20:45
What would you do? - Falkirk Bairn
You might get a Qashqai for £230 but the mileage would be very resticted - go over the mileage and you would be penalised at may be 6-8p per mile.

Taking on a PCP is dangerous in that you are committed on day 1 to pay the 24/ 26 payments - breaking a contract involves heavy penalty charges.
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Wed 26 Mar 2008 20:49
What would you do? - Richie_green
So whats the best option for us with this budget? Does HP work the same way?
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Wed 26 Mar 2008 20:51
What would you do? - Avant
I've never seen penalty charges as such on PCP contracts, but you do get negative equity if you end the contract too soon - you need to go at least 2/3 of the way through to break even in terms of what the car is worth v. what you owe on it.

The monthly payment also depends on the deposit you are able to put up (possibly the trade-in value of your current car less what if anything you still owe on that).

With HP your monthly payments are higher because you are paying the whole price (plus interest of course) over the contract perios, instead of having a balloon payment at the end.

If you're not sure, best to get a dealer to do some sums for you - and make sure they are willing to explain it in terms that a reasonable person can understand.

Edited by Avant on 26/03/2008 at 20:53

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Thu 27 Mar 2008 09:44
Lease plan - what would you go for ? - Man without a plan
Op, check out www.lingscars.com

Shocking website, but I have heard good things about this mad woman's company....

Lots of lease companies advertise good headline rates i.e. "£99 a month" but don't tell you (until the small print) that you have to pay £1k or £2k deposit, plus a fee for this and that...

From what I understand of lingscars, you just pay what it says i.e. £99 including VAT 3+23 = 3 x £99 up first payment followed by 23 payments of £99...

Check for yourself but thats how I understand it.
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