Qashqai on PCP. Gauranteed final value

General Information Forum for the J11 QashQai. (Formerly Order Forum)
big_boz
Posts: 22
Joined: Mon Aug 17, 2015 10:58 am

Post by big_boz »

gibby9 wrote:
ca4lease
Did you mean car4leasing as ca4lease brings up a dodgy looking Japanese site? Unless its along the same line as Lings but even weirder?

Ahhh you spotted my deliberate mistake!
65 Plate Quashqi 1.5DCI Ntec+, 15 Plate Passat GT, 1972 Vw Beetle, 02 Plate Alfa 147

big_boz
Posts: 22
Joined: Mon Aug 17, 2015 10:58 am

Post by big_boz »

AlleyCat wrote:
No dig taken :)

There are a couple of scenarios i can see as problems / risks.

It's a contract so if you lose your job you are stuck paying for something that you don't own.
PCP leaves you in a similar situation but there are different scenarios based on the "deposit" so it can be less catastrophic to walk away from.
A loan and owning the car outright does give you the option to liquidate the entire thing and, whilst you end up with no car, you aren't up the creak (comparatively)

Some of the lease companies really take the "proverbial" with regards to fair wear and tear which can be a gotcha.
Not a problem if you intend to buy the car afterwards but you can end up with unexpected bills.

Additional mileage charges apply to both lease and PCP and, in a scenario where you are a "cash for cars" company driver a sudden change in job requirement could leave you doing much larger mileage than expected.

I accept that last one is more "niche" but it's something that has to be taken into consideration for some people.

I don't necessarily have any issues with PCP/HP/Lease/Buying outright/Loan as each has its place but i think they all have their strengths and weaknesses.

It's always about the deal and hopefully it marries up with the car people want :)
Are you an accountant by any chance, you sound very risk adverse to me! :)

The mileage thing isn't an issue as you can always adjust the agreed miles during the contract, you don't tend to get much back for reducing but if you know you are going to be over it is always cheaper to do so prior to the end. My current VW direct lease even allow you to change the payment date annually which could be of use to some people, but I would tend to air on the side of caution but not over egg it too much when setting the mileage expectation. If you run the numbers there is a big disparity between 8k pa to 10kpa and 15k tends to see a bit of a jump but then above that the gap gets smaller.

The wear at tear thing I totally get, but I think, for any form of finance where you are not going to buy the car outright this applies, ultimately you will pay in the end if you damage the car, be it via charges from the lease company or the inherent devaluation and additional depn come resale time. I have only had the one lease where I had to hand a car back, and being an alfa, this was a no brainer, I had been fine in my ownership but having had alfas I didn't want any unforeseen issues coming out of my pocket so the 159ti I had went back, I had a mobile paint and repairs company come out to me to get rid of a few stone chips and tidy a wheel total cost of £180, but I am sure I would have stung for a lot more had I sent it back as it was……but equally had it been mine, a dealer would have taken money of its trade value so swings and roundabout to my mind.

Every other time (5 leases), the car has never left my possession and I always have sold the car on fairly soon after buying it out at the end for more money which in my man maths I roll into the overall cost. A golf GTD actually netted me several thousand in profit which was a nice little sweetner.

I guess regards the loosing of job scenario, I sort of (playing devil’s advocate) don’t see your point. If you lose your job, and the car gets taken back its probably the least of your worries. Having worked in auto finance in a previous life, I highly doubt it would go very far, maybe a CCJ, but you can clear that when you get a new job, no car finance company is going to bankrupt you over non payment of a lease, and realistically the vehicle belongs to them so they can come and get it and sell it and re-coup probably the vast majority of the net cost of the overall contract. If you are buying new car one assumes you feel you have the where with all to pay for it, if not you probably shouldn't by an means.

Like you say each form of buying a new car has its up and down sides, but to my mind leasing is the most relevant. I am an accountant by the way and I would always advocate leasing, never buy an asset you don’t have to! unless you want to of course…its your choice :lol:
65 Plate Quashqi 1.5DCI Ntec+, 15 Plate Passat GT, 1972 Vw Beetle, 02 Plate Alfa 147
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