short term 'nearly new' car leasing

[GrasB]

So I'm looking to buy a new car but really not sure what to get as there are conflicting requirements. The one thing I am sure of is that what I had was no longer the right tool for the job. Yes a test drive will tell me if I like the car or not but it doesn't let me find out if it's the right compromise. My solution is short term 'nearly new' car leasing; lease a used car for 6-10 weeks with less than 9 months & 7000 miles on the clock.

So to this end I have leased BMW 535i 6 month old being delivered afternoon with a 30% reduction in leasing rates & a 1250 mile/month budget instead of 1000 .

 

[cd365]

I didn't know you could lease "nearly new" cars!

 

[twentysix by twentyfive]

So to this end I have leased BMW 535i 6 month old being delivered afternoon with a 30% reduction in leasing rates & a 1250 mile/month budget instead of 1000 .

Useless - pain the the arse for bike carrying

 

[GrasB]

I didn't know you could lease "nearly new" cars!

Neither did I until I asked . My guess would be some leasing companies will & others won't.

Useless - pain the the arse for bike carrying

If it's a GT it isn't

 

[twentysix by twentyfive]

Neither did I until I asked . My guess would be some leasing companies will & others won't.


If it's a GT it isn't

IMHO - if you can't get bikes (plural) including attached mudguards in and out easily it just isn't an option

 

[GrasB]

IMHO - if you can't get bikes (plural) including attached mudguards in and out easily it just isn't an option

So box vans for you then... sorry but I like my cruisers to be a little more luxurious.

This is replacing an Alfa 159 SW so should be much more space inside.

 

[twentysix by twentyfive]

So box vans for you then... sorry but I like my cruisers to be a little more luxurious.

This is replacing an Alfa 159 SW so should be much more space inside.

Nope - nice and comfy Zafira

Bikes go in vertically

 

[GrasB]

Nope - nice and comfy Zafira

Exactly, a box van

 

[Archie_tect]

Do you mind revealing how much money it is a week to hire with the VAT and insurance and all the little extra costs they sneak in?

 

[GrasB]

Do you mind revealing how much money it is a week to hire with the VAT and insurance and all the little extra costs they sneak in?

I have to provide my own insurance as this is a lease rather than hire arrangement, I've 'paid' £30 admin charge for a change of vehicle on my insurance but this has been waved as I ended up owing about £1.50 due to a pro-rata rebate of £28.50 on the Alfa's insurance premium.

I'm contracted to a 1x6 week lease at £720 inc VAT, which is the deposit so no end of month payment this month, with the option to extend over two further 6 week blocks on two more occasions. If I exceed 1900 miles in that period if I exceed that there's an excess mileage charge of 14p/mile. On the car I'll be getting I will pay a significant penalty for exceeding 2640 miles, as the car will have covered more than 9k miles no longer making it 'nearly new'. If I get within 400 miles of 9k miles they will replace the car with another one within 48/h w/out a delivery charge. I will not be paying a delivery charge as I will pick the car up from & drop it off at depo but that would have been an extra £150.

It's worth mentioning this is a £50k car.

 

[Archie_tect]

Is that with full maintenance including tyres and recovery assist?

 

[GrasB]

Maintenance costs are a mute point with this car & the mileage I'm doing. The first maintenance schedules for the car is the first service at 18'000 miles or 2 years & OE tyres are good for 30k miles.

Recovery is taken care of by BMW Emergency Assistance/Connected Drive. Tyre replacement due to punctures are covered by my insurance company - it's worth getting insurance as the cheaper OE tyres cost £360 for the front & £430 for the rear.

 

[Over The Hill]

Is that then £6,240 for the basic car and no extras plus insurance etc. With a limit of 16,500 miles per year.
This then goes on for each and every year you stay with the deal.

I bought an E Class merc last year that I accept is now 7 years old but was similar price when new and similar car. It was £8,000 and I expect it to last for 10 more years and will easily have another 160,000 miles in it and still be worth £3k at the end.

So are you paying £62,000 if you keep this going for 10 years for something you can get for £5k in an older car?

I see my car as cheap motoring and avoid anything where there is a big hit in depreciation. However you own a car (Lease/Hire/Loan), if you take an expensive car when near new you will have to pay for the huge loss in its value somehow. This seems as good as any to take this on if you are happy paying that amount. Problem is that you are placing yourself near the top of the depreciation curve and so must take a big hit no matter how many cars it is over. If you stick with one car (say on HP) then the depreciation slows down as it gets older and the hit is less.

Perhaps I would think differently if I had a spare pile of money.

 

[twentysix by twentyfive]

Exactly, a box van

It does a load of stuff for me and doesn't cost anything like OTH (above) suggests. I'll be thinking of you paying mega bucks and sitting in the traffic jams whilst I'm out on my bike.

 

[Brains]

IMHO - if you can't get bikes (plural) including attached mudguards in and out easily it just isn't an option

After decades of owning Landrovers and Vans we downgraded to a 'car' a few years ago and the issue of how to carry bikes needed some serious research.
The solution is a bike carrier that sits on the towball, I can get the rack from boot to rigged with a bike in a bike in under a minute

This is one of several models available (we have the Strava version)