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New Ford via Leasing?
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Old 12-03-2017, 14:35   #1
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New Ford via Leasing?

Ok its time for a new car, I was looking at a 2nd hand but people at my work have this lease thing.

I'm looking at a Focus ST, S-Max & Mondeo (non-ST)

How does it work, what are the pro's and con's, I have been told the more deposit you pay the less monthly you pay.

What happens at the end of the term (2 years IIRC)

Servicing, I've been told you can pay upfront for this, but it it worth it.

What isn't covered under any warranty, I guess tyres, brakes.

I don't know about insurance as I have never bought a new car so obviously I can't give the Insurance company a reg to get a quote.

Then road tax which now the system is carp in getting a new one without valid insurance.

If you've leased a Ford I've listed I'd be grateful if you could give an idea of figures for the car.

You can PM if you want to keep things private, I won't share this info.
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Old 12-03-2017, 14:57   #2
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Re: New Ford via Leasing?

Leasing is basically just long term rental.

I have leased my cars for the last 17 years and would not do it any other way.

The last 10 years from here : https://www.nationwidevehiclecontracts.co.uk/

I dont take the servicing option, as its quite expensive monthly.
They do the road tax, not you, all you have to do is the insurance.
(Insurance sites will give you quotes for model, you dont need a reg).

If you actually take a car, you will get the reg number in advance of the car.

(My daughters lease from them as well).

Pricing depends on things like estimated miles, initial payment, and the lease period (2,3 or 4 years).

This is an example of what you were looking for ;

https://www.nationwidevehiclecontrac...-5dr-74305.htm
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Old 12-03-2017, 17:23   #3
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Re: New Ford via Leasing?

A lot of ex- Motabilty hirers are going this way too, either because Motability's terms are getting stupid, or because they have had their disabled mobility payments stolen by the DWP.
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Old 12-03-2017, 19:09   #4
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Re: New Ford via Leasing?

What happens at the end of a car lease period, you hand the car back and have nothing to show for it or you continue leasing?
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Old 12-03-2017, 20:08   #5
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Re: New Ford via Leasing?

do you get another brand new car?
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Old 12-03-2017, 20:31   #6
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Re: New Ford via Leasing?

Quote:
Originally Posted by Hom3r View Post
do you get another brand new car?
Only if you pay for it - you just start the process again.
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Old 12-03-2017, 23:38   #7
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Re: New Ford via Leasing?

Quote:
Originally Posted by SnoopZ View Post
What happens at the end of a car lease period, you hand the car back and have nothing to show for it or you continue leasing?
You have nothing.

Alternatives include what is called pcp personal contract purchase.

At the end of that you can pay the balloon payment to keep the car.

Another way is to buy the car MUCH cheaper through one of the many sites available and arrange your own finance, typically at much lower rates.

A quick online search shows the car mentioned above available over £6000 cheaper brand new.
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Old 13-03-2017, 00:19   #8
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Re: New Ford via Leasing?

Quote:
Originally Posted by SnoopZ View Post
What happens at the end of a car lease period, you hand the car back and have nothing to show for it or you continue leasing?
Yes, you hand it back, and lease another.

---------- Post added at 23:19 ---------- Previous post was at 22:59 ----------

Quote:
Originally Posted by Julian View Post
Another way is to buy the car MUCH cheaper through one of the many sites available and arrange your own finance, typically at much lower rates.
Yes, you can almost certainly buy new cars cheaper than the price they quote, but unless you plan on keeping it for 5+ years, then buying a car is not really any cheaper than leasing it.

To get the same level of payments, the finance would have to be over a much longer period (or much higher payments over the same period). You also have to arrange to sell it when you decide to change.

In very simple terms, leasing costs are worked out from the initial cost of the car, minus what they think they will get back for at after x years, divided by x years (with a bit of profit for them of course).

For example, a friend of mine leased a Ford Fiesta, £12,500 to buy new, at £130 per month, over 3 years. The total cost to them (with initial rental, plus fees) will be £5,120. To buy it (even at say £10,000, if they could get it that much cheaper) would be about £300 month for a loan (to hit £130 a month, the loan would have to be over about 8 years).

Leasing is not for everyone, but if you want a new car every 3/4 years, and lowish payments, its pretty hard to beat.
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Old 13-03-2017, 15:50   #9
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Re: New Ford via Leasing?

Ford PCP contracts are good as the APR is very low; I'm buying my wife's Fiesta this way, no deposit and just over £200 per month for two years. After that there are three choices:

1. Hand the car back, nothing else to pay
2. Hand the car back as a trade in for your next new car using the value as a deposit
3. Make a final payment (in our case c £5K) and keep the car

I took out a servicing plan on my Focus, excellent value. They cost out your servicing over four years, give you a discount (I think 10%) and you pay by monthly direct debit. So, you are paying today's prices for servicing for four years and with a discount
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