Confirmation on Lease vs Purchase costings

[Hertsman]

Apologies for hi jacking this thread (seems the best one to) for selfish purposes but know some really informed folk are on the MK 7 forum and need their general advice without starting new thread.

Landmark date coming up for Wife in October and I want to lease a Mini Cooper Chili Pack Auto for her as a surprise and could go to local dealer and just pay the price

expected mileage would be low, 5k at most, so it has me looking at lease but PCP also if the deal better?

So what seeking is best option on value to achieve a Mini Cooper Chili Pack Auto for October (so when best time to start process)

All advice greatly appreciated

It would probably best to ask the guys over on the mini forums:

http://www.mini2.com/forum/

Knew that was an option, but some really informed and trusted guys here who understand this stuff generically aside from VW so will see what response get here first as its more the best places and types of deals to look at opposed to the car itself.

[Exonian]

Apologies for hi jacking this thread (seems the best one to) for selfish purposes but know some really informed folk are on the MK 7 forum and need their general advice without starting new thread.

Landmark date coming up for Wife in October and I want to lease a Mini Cooper Chili Pack Auto for her as a surprise and could go to local dealer and just pay the price

expected mileage would be low, 5k at most, so it has me looking at lease but PCP also if the deal better?

So what seeking is best option on value to achieve a Mini Cooper Chili Pack Auto for October (so when best time to start process)

All advice greatly appreciated

The 'go to' guy on the BMW forums TRL (username) seems to recommend this guy when it comes to MINI's, same dealer group I'll assume: gareth.roberts@berrymini.co.uk maybe try dropping him a quick email to test the water.
Aside from that and as per the cheap £95 lease deals they did on GTI's very briefly last year the only other way of getting the very best price is when the leasing companies get a promotion deal from time to time. There were several deals on MINI's last year so it can be a matter of just keeping your eye keenly on the leasing company websites. The very best deals tend to be quite short lived.

[Exonian]

Back on topic as far as VW's go.

Leasing comes into it's own when VW finance or another of the big finance companies are doing a promo deal and the car you want is on special and you don't want any extras. You'll pay fractionally more car insurance on a lease but don't pay VED as mentioned previously.

Right now buying outright would be the best option if you can find a car to spec as VW are dropping £3250 off the original list price of all runout Golfs and plus the dealer discounts you can secure. If you have no part ex or are prepared to accept rock bottom trade price for your part ex then the brokers (IF they can get stock) will be knocking out, as an example, a 3 door GTD for just over £20k brand new. Purely using that model as the base line car being as it's the cheapest performance model and going on 'no extras' as it's pretty well equipped anyway. Even though there's a FL model in the wings, getting a brand new GTD for a whisker over £20k can't be sniffed at.

There are no current PCP deals on Golfs so the £3250 discount looks even better if you can get a low rate personal loan and a big dealer discount.

Basically it's all in the timing as to which is the better deal.
If you have a part exchange that's fairly new that would be a pain in the derriere to try and sell privately then the waters are muddied quite a bit.

[wigit]

Leasing gets expensive when you are a fussy about options and colour as you end up paying the full amount of the options over the full term.

GTD and GTI when they got Nav had a decent spec and look ok in red of white

I was going to keep my Blue R as a daily but when the silly estate lease deal came on it was a no brainer to sell it and shove the money in the bank, only options I had were winter pack and carnet as estate looks ok in white and it is 'just a car' to get me from A to B

Mini deals are a bit scarcer and I have to admit there options confuse me

As for buying or purchasing VWs I am going back to what I always thought of I would only by a limited GTI or there are daft discounts like we have.

[brown.jamesa]

Cheers all,

So on the basis that I will be selecting a FL 7 speed DSG 5 door GTI model when available and adding the digital dash, Sat Nav, Leather + Speaker package.

 I am pretty sure that cash purchase is the way to go as I cant see any reason why leasing is cheaper (it wont be, as why are they doing it as a business).

Thanks

[Exonian]

Cheers all,

So on the basis that I will be selecting a FL 7 speed DSG 5 door GTI model when available and adding the digital dash, Sat Nav, Leather + Speaker package.

 I am pretty sure that cash purchase is the way to go as I cant see any reason why leasing is cheaper (it wont be, as why are they doing it as a business).

Thanks

With those extras then buying will be the only viable option unless you get a very cheap lease deal over say 3 or 4 years to account for the options prices which you will have to stump up and lose the full value of, unless you can get a personal quote for leasing it that way through a VW dealer directly where they may allow a little bit of leeway with the options if they're going to sell the car off the forecourt at the end of the lease.

Personally I'd drop the leather, even if red checks aren't your thing.

As said elsewhere, if there's a PCP deal running then just pay it off within the cooling off period if that's the best way to secure an up front discount. As the GTI may well come with the 6 speed DSG at first as per the German configurator then you may have a bit of a wait for the 7 speed. If that's the case then the initial interest in the FL model may have dropped a little and there may be better promo deals about. It can be hard to second guess what VW will do.

[fredgroves]

If you can find a lease company with a web based configurator pricing tool then you can play around and see which options are fully payable by you.

Just check the VW site for the cost of the option then divide by the number of months of the lease and see if magically the monthly cost increases by exactly that amount...

When I looked it was some and some, 19's for example were 100% paid by me on my company lease scheme. (I decided they weren't worth the money) Whereas NavPro wasn't. It might be that you think f**k it, I'll do it anyway (I did with HBA) but best you are well armed with facts before you drop the dime.

They definitely do try and rip you off...

[p3asa]

Cheers all,

So on the basis that I will be selecting a FL 7 speed DSG 5 door GTI model when available and adding the digital dash, Sat Nav, Leather + Speaker package.

 I am pretty sure that cash purchase is the way to go as I cant see any reason why leasing is cheaper (it wont be, as why are they doing it as a business).

Thanks

Having just bought an R and saved up around half the purchase price I was toying getting a cheap loan, paying off the VW PCP deal and then paying so much back into my account with the rest going to pay the cheap loan.

I know its cheaper in the long run but I just can't stomach putting everything into a car then come 4 years team my money is at the mercy of a dealer on how much goes to the next car

[brown.jamesa]

Cheers all,

So on the basis that I will be selecting a FL 7 speed DSG 5 door GTI model when available and adding the digital dash, Sat Nav, Leather + Speaker package.

 I am pretty sure that cash purchase is the way to go as I cant see any reason why leasing is cheaper (it wont be, as why are they doing it as a business).

Thanks

Having just bought an R and saved up around half the purchase price I was toying getting a cheap loan, paying off the VW PCP deal and then paying so much back into my account with the rest going to pay the cheap loan.

I know its cheaper in the long run but I just can't stomach putting everything into a car then come 4 years team my money is at the mercy of a dealer on how much goes to the next car

What I try and do is save a set amount of money per month into a savings account (same figure as a lease would cost) and when I have reached my goal, buy a new car with part exchanging my current car which I own outright.  Then as soon as I have brought my new car, repeat the process again.

The hardest part is the first purchase and also the temptation of spending the money saved on other toys :-)

[drisser]

The biggest thing affecting this is how long you will keep the car.  leasing is great if you get a special deal and happy to change again in 2 years..  however its still money after something you wont own.

If you like to keep cars longer then you will get the benefit of paying it off and therefore not having the ongoing cost, as well as the depreciation dropping off..

Horses for courses really - it only costs you wedge when you go and trade in and re-commit !