Lease/PCP offers

Today I have been idly browsing finance offers for cars I do not really want but it beats work you know.

This bit of bastardry looks a good deal for Scheissewagen fans and the PCP finance is 4.9% through Audi.

Wouldn’t smoke it m’self, but you enjoy l’il buddy, life is hard without a Little Something :100: :ok_hand: :fist_right: :fist_left:


Being naive on these things could you talk me through the maths. What is the deposit, monthly cost, situation when the contract runs out etc etc?

Is it always a case of a leap of faith re the deposit? I.e you hope and to a degree expect for it to just roll over to a new car after the contract runs out but there’s no guaranteee of this?

The deposit on these is flexible, which in turn affects the monthlies. Term is also flexible, typically between 24-48 months.

At the a PCP, you can:
a) Return the car (like a lease) for nothing, assuming you haven’t exceeded the agreed mileage
b) Pay the GFV (guaranteed final value) and own the car.

You can play around with various scenarios here:

Although that’s not the model, it’s closest to the selling price of the one on offer so the numbers won’t be a million miles off.

What’s wrong with your current car, or just fancy a bit of window shopping therapy?

It’s not an M4.

This. Just boredom as I said. 30% discount is quite eye-catching.

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Audi tho’


And with option A what happens to the deposit?

I’ve repeatedly just bought a car and can’t see that changing but it’s worth monitoring.

It’s gone.

I’ve always bought my cars, but it’s not always the best plan.

My Hyundai Ioniq Electric is a £30k car, but on the lease deal it’s under £200 a month. It’s a 6+23 deal, so I pay £1200 in month 1, then £200 a month for 23 months. Then I give it back. Maintenance is all included.

So I get to use a car for 2 years, and pay about 20% of its price. I think that’s great value - I get the best two years of it, and is a first generation electric car really going to last for 10 years+?

I’ll probably buy used when this expires; with any luck I’ll be able to get a Hyundai for under £20k, but at least I’ll know if it’s worth getting.

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You can buy a nice car for £5800 that’ll still have some tangible value after 2 years even if you deduct the cost of a couple of services.

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It’s all a balance. You will have more than a service on a car that is £5800, you will have tyres, brakes, repairs etc.

My Brother in law bought a Saab for about that price, electric power steering failed, couldn’t be fixed sold for a huge loss. Bought a Volvo, fan belt snapped and slipped under the cam belt, dead engine total loss.

Of course the main appeal of electric at the moment is the saving in fuel which covers 50-75% of the lease. Which is why I went for it.

I did the maths, looking at the total costs to run my old car versus getting the new car. There wasn’t much in it - the savings from services and fuel (my large petrol estate is a bit of a disaster with all the short runs) mostly offset the lease costs. The fact that the new car is electric, with zero tailpipe emissions, is what did it. It was cheaper than buying an older Nissan Leaf, and is a lot easier to run (longer range).

I get the appeal of electric cars particularly if you can charge at home. I’m just not sure it’s a decision you could yet make based on economics. As it moves that way no doubt it will attract more in the way of taxation.

Other half has a new lease chance this year as her current company car is up for change.
She is considering the Tesla performance but having the same dilemma about practicality in the real world.

Have you done the maths? I did. You might be surprised; if you have a long regular commute then it could be much cheaper than ICE cars.

As it stands I think I can charge for £1.80 per week or less. If this is the case then it will be cheaper than running my old car, even though that now has zero depreciation.

The glory days of when Brighton used to have free charging, that made sense for me to hire a leaf at the time for a year. I think in a years time I will get another electric car for commute. I’m just waiting for the next batch of cars to be released like the id3 and then a bit longer for the deals to appear.