2016 Kia Sportage 1.6 GDI  1 5dr £3989.60 for 2 years/8000 miles a year @ Leasingoptions
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2016 Kia Sportage 1.6 GDI 1 5dr £3989.60 for 2 years/8000 miles a year @ Leasingoptions

37
Found 13th Jun 2016
Just found this deal on a 2016 Kia Sportage 1.6 GDI 1 5dr on a website. Company is called leasing options. Spoke to the lady and says 8-10 weeks for delivery.

9 payments up front £1071.45 and £119.05 a month, all in with the deposit, monthly payments and admin fee £180 it comes to £3989.60 for 2 years/8000 miles a year.

Best deal i've seen on these, for some reason the £119.05 doesn't show on the web page as it does not let you factor in 8000 miles but the 10,000 miles on 2 years is still £125.00 a month...

contracthireandleasing.com/car…04/
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Original Poster
No £125.05 inc vat for the 10,000 miles and £119.05 inc vat for the 8000 miles deal. I have the company quote through to me...
Original Poster
I'm having one, to good a deal to turn down in my eyes. Just need a cheap car for the next couple of years and this is decent and new...
Good deal
Avatar
deleted1032520
Cracking deal
In the States advice is to keep the deposit to zero as its money lost if an accident occurs.
I can copy & paste the very well written info if anyone is interested as its packed with advice on car leasing.

Edited by: "deany76" 14th Jun 2016
Original Poster
Yeah please do mate
martylaa

Yeah please do mate



Okay, really well written very recent post from the States, hope this helps:

Dealers love leasing because they can make really appealing monthly payment numbers and the formulas to compute those payments are complex enough most salesmen won't really know how they work, let alone the customers, so it makes hiding extra charges much harder to notice.

That said, if you do your homework, just as you are doing, leasing can be a really good way of owning a car if you know what you are doing and follow a few guidelines.

First, never put money down on a lease. You want zero down or you don't want it. Any lease can be written with zero down, but they often use large downpayments as a way to advertise a low monthly payment. You don't want to put money down on a lease because if the worst happens and you have an accident with the vehicle early in your ownership, any downpayment is gone. Keep the money in your pocket and pay a higher monthly payment.

PLEASE NOTE 'GAP' MUST BE TAKEN OUT WITH ZERO DEPOSIT AS THERE WOULD BE A SHORTFALL IF THE CAR IS WRITTEN OFF OR STOLEN.

Second, learn how to calculate the lease payment yourself. There are plenty of guides online, and even apps you can get on your phone like iLeaseCarPro, so you can quickly verify the numbers that any dealer is giving you. If your dealer is not willing to give you every number that goes into calculating your lease payment, find another dealer. Numbers like the money factor and residual are not secret, but many dealers like to make them secret so they can pad them and prevent customers from really knowing what's going on. The residual is set by the manufacturer and can't be altered by the dealer. The money factor is essentially the interest rate set by the lending arm of the manufacturer, and it may be difficult to find the exact number currently being offered, Edmunds forums sometimes have that info for a particular car - so it can be a place for a dealer to hide profit. You should be able to get close to what the real number is though and find a dealer that is somewhere in the ballpark. The buying price is also important in a lease. Negotiate the selling price exactly as if you were purchasing the car. Walk away from any dealer that tells you this isn't possible. You want the biggest spread possible between MSRP and selling price.

A lease can be purchased by the lessee at any time for whatever the current payoff is calculated at. If you keep it until lease end you have a few choices. You can turn it in and just be done with it, you can buy the car outright for the buyout, which is negotiable. You'll often get a good deal here because the dealer would rather sell to you than have to take the car back prepare it for sale and resell it to someone else. If the residual was calculated poorly by the manufacturer, you have a few options. This could mean that the car is worth a lot less than expected (in which case you should turn it in and let them take the loss, or use this knowledge to your advantage to buy out the vehicle at a lower price if you want to keep it) or it could be worth much more than expected, in which case, if the gap is large enough, you could buy the vehicle for the agreed-upon buyout price and resell it for a profit on your own (or use this as leverage with the dealer for getting a better deal on a new car). This is the advantage of leasing that most pundits miss; the bank takes all of the risk of depreciation off your hands, while leaving you with a lot of options for using that to your advantage.

The downsides are really only if you expect to turn the car in and know that you are really hard on cars. I only suggest leasing for people I know who take pretty good care of their cars because you can get hammered pretty hard for damage or excess wear. So be honest about how you care for your cars in making this decision.




Edited by: "deany76" 14th Jun 2016
Excellent and detailed explanation
deany76

Okay, really well written very recent post from the States, hope this … Okay, really well written very recent post from the States, hope this helps:Dealers love leasing because they can make really appealing monthly payment numbers and the formulas to compute those payments are complex enough most salesmen won't really know how they work, let alone the customers, so it makes hiding extra charges much harder.That said, if you do your homework, just as you are doing, leasing can be a really good way of owning a car if you know what you are doing and follow a few guidelines.First, never put money down on a lease. You want zero down or you don't want it. Any lease can be written with zero down, but they often use large downpayments as a way to advertise a low monthly payment. You don't want to put money down on a lease because if the worst happens and you have an accident with the vehicle early in your ownership, any downpayment is gone. Keep the money in your pocket and pay a higher monthly payment.Second, learn how to calculate the lease payment yourself. There are plenty of guides online, and even apps you can get on your phone like iLeaseCarPro, so you can quickly verify the numbers that any dealer is giving you. If your dealer is not willing to give you every number that goes into calculating your lease payment, find another dealer. Numbers like the money factor and residual are not secret, but many dealers like to make them secret so they can pad them and prevent customers from really knowing what's going on. The residual is set by the manufacturer and can't be altered by the dealer. The money factor is essentially the interest rate set by the lending arm of the manufacturer, and it may be difficult to find the exact number currently being offered, Edmunds forums sometimes have that info for a particular car - so it can be a place for a dealer to hide profit. You should be able to get close to what the real number is though and find a dealer that is somewhere in the ballpark. The buying price is also important in a lease. Negotiate the selling price exactly as if you were purchasing the car. Walk away from any dealer that tells you this isn't possible. You want the biggest spread possible between MSRP and selling price.A lease can be purchased by the lessee at any time for whatever the current payoff is calculated at. If you keep it until lease end you have a few choices. You can turn it in and just be done with it, you can buy the car outright for the buyout, which is negotiable. You'll often get a good deal here because the dealer would rather sell to you than have to take the car back prepare it for sale and resell it to someone else. If the residual was calculated poorly by the manufacturer, you have a few options. This could mean that the car is worth a lot less than expected (in which case you should turn it in and let them take the loss, or use this knowledge to your advantage to buy out the vehicle at a lower price if you want to keep it) or it could be worth much more than expected, in which case, if the gap is large enough, you could buy the vehicle for the agreed-upon buyout price and resell it for a profit on your own (or use this as leverage with the dealer for getting a better deal on a new car). This is the advantage of leasing that most pundits miss; the bank takes all of the risk of depreciation off your hands, while leaving you with a lot of options for using that to your advantage.The downsides are really only if you expect to turn the car in and know that you are really hard on cars. I only suggest leasing for people I know who take pretty good care of their cars because you can get hammered pretty hard for damage or excess wear. So be honest about how you care for your cars in making this decision.



Clear as custard.

First paragraph doesn't even make sense to me - dealers love contracts because it makes hiding extra charges harder??? Why would a dealer love this?

Does a single word of this apply to contracts in the UK?

Are there any UK contracts around as examples you can quote with zero down payment, I haven't seen one?
nihcaj

Clear as custard. First paragraph doesn't even make sense to me - dealers … Clear as custard. First paragraph doesn't even make sense to me - dealers love contracts because it makes hiding extra charges harder??? Why would a dealer love this? Does a single word of this apply to contracts in the UK?Are there any UK contracts around as examples you can quote with zero down payment, I haven't seen one?



Hi
Yes I think he got his words mixed up in 1st paragraph. Should say 'harder to notice' (I have now updated) - thanks for pointing it out.
I understand its a different country but maybe someone might get something useful from it.
Perhaps we should press for zero down here? as he has a valid point.

What happens if you put say £2000 down (on a more expensive car) & had an accident here?
I thought parts of it were helpful.
Afterall they have a fair few cars on the road.
cheers

Edited by: "deany76" 14th Jun 2016
deany76

HiYes I think he got his words mixed up in 1st paragraph.I understand its … HiYes I think he got his words mixed up in 1st paragraph.I understand its a different country but maybe someone might get something useful from it.Perhaps we should press for zero down here? as he has a valid point. What happens if you put say £2000 down (on a more expensive car) & had an accident here?I thought parts of it were helpful.Afterall they have a fair few cars on the road.cheers



Surely zero down would only make a difference if the contract ended with the vehicle being written off... as I understand it, you would need GAP insurance to cover losses here as this would not happen here if the insurance did not cover the full value, you would have a fair bit still to pay.
nihcaj

Surely zero down would only make a difference if the contract ended with … Surely zero down would only make a difference if the contract ended with the vehicle being written off... as I understand it, you would need GAP insurance to cover losses here as this would not happen here if the insurance did not cover the full value, you would have a fair bit still to pay.



I'm not an expert in leasing sorry but it seems its better to put zero or as little as possible down as in the event of an accident initial deposit maybe lost. Not sure if its write off or major damage or both.

Edited by: "deany76" 14th Jun 2016
nihcaj

Clear as custard. First paragraph doesn't even make sense to me - dealers … Clear as custard. First paragraph doesn't even make sense to me - dealers love contracts because it makes hiding extra charges harder??? Why would a dealer love this? Does a single word of this apply to contracts in the UK?Are there any UK contracts around as examples you can quote with zero down payment, I haven't seen one?



Zero deposit lease in the UK (cant recommend company) but shows they ARE available

hippoleasing.co.uk/ex-…ars
Worth noting that there a is a deal fthat the gutless 1.6 PETROL besides the dodgy GDI name that implies a Diesel version.
It's a good price but I'd pass if I was in the market. Not voting as while it is cheap, it's a false economy in this instance.
If you put £2k down then have an accident you lose your £2k the insurance and gap fills in the blanks.
So if you put zero down you lose nothing and insurance and Gap still fill in the difference in the occasion of a write off or large claim.
Oneday77

If you put £2k down then have an accident you lose your £2k the insurance … If you put £2k down then have an accident you lose your £2k the insurance and gap fills in the blanks. So if you put zero down you lose nothing and insurance and Gap still fill in the difference in the occasion of a write off or large claim.



Then GAP for folks new to leasing: hotuk lease deals should always mention the importance of taking out GAP or push for zero deposit.
https://www.abi.org.uk/Insurance-and-savings/Products/~/~/media/16515033DA6341D0A4FB00ED908528B7.ashx
cheers



Edited by: "deany76" 14th Jun 2016
anyone know if there is an automatic option available?
Banned

deany76

Then GAP for folks new to leasing: hotuk lease deals should always … Then GAP for folks new to leasing: hotuk lease deals should always mention the importance of taking out GAP or push for zero deposit.https://www.abi.org.uk/Insurance-and-savings/Products/~/~/media/16515033DA6341D0A4FB00ED908528B7.ashxcheers



Deany stop giving misleading information about being able to buy a lease, etc... Pretty much everything you said is crap and incorrect.
Banned
wish it was 3k lol.
iv never bought lease, normally buy outright
amarchavda

anyone know if there is an automatic option available?



You can only have an auto in higher trim levels with the 2.0 diesel or the 1.6 turbo petrol - bumps up the cost quite a lot.
deany76

Zero deposit lease in the UK (cant recommend company) but shows they ARE … Zero deposit lease in the UK (cant recommend company) but shows they ARE availablehttp://www.hippoleasing.co.uk/ex-demo-no-deposit-lease-cars



Yes, 4 year terms, (so not much point leasing, where the benefit pf leasing is to miss out on the short term depreciation you get with buying, so you might as well just buy) thought I hadn't seen any 2 year deals before.
Oneday77

If you put £2k down then have an accident you lose your £2k the insurance … If you put £2k down then have an accident you lose your £2k the insurance and gap fills in the blanks. So if you put zero down you lose nothing and insurance and Gap still fill in the difference in the occasion of a write off or large claim.



In this event, does the contract actually END, or does the car just get replaced?
NathanGB

Deany stop giving misleading information about being able to buy a lease, … Deany stop giving misleading information about being able to buy a lease, etc... Pretty much everything you said is crap and incorrect.



I suspect it might be, hence why I posted, but the point is, what IS the reality for deals in the UK? I have seen a couple of deals I was tempted with, but it is lack of depth of knowledge that is one thing that puts me off.

We all know how to BUY cars, (and what happens when you write one of those off!) but long term first hand experience in various situations we can relate to seems lacking for leasing.
NathanGB

Deany stop giving misleading information about being able to buy a lease, … Deany stop giving misleading information about being able to buy a lease, etc... Pretty much everything you said is crap and incorrect.



Hi Nathan

I did say that its what the Americans do. They have a fair few leases there.
Clearly everyone should have GAP unless they have it in writing the deposit covers depreciation on a UK lease.

What have I said thats 'crap'.?

Cheers

EDIT
No need to reply just noticed you have two posts in your profile.

Edited by: "deany76" 14th Jun 2016
kotr

Why would you lease a car if you only drive under 8000 miles a year. … Why would you lease a car if you only drive under 8000 miles a year. Wouldn't it be better to buy a car outright for 4 k and own it


Depends on if you like to gamble?
Prefer to have a new car every 2-3 years?
Don't miss the equivalent of approx. £200 every month?
etc.
nihcaj

Clear as custard. First paragraph doesn't even make sense to me - dealers … Clear as custard. First paragraph doesn't even make sense to me - dealers love contracts because it makes hiding extra charges harder??? Why would a dealer love this? Does a single word of this apply to contracts in the UK?Are there any UK contracts around as examples you can quote with zero down payment, I haven't seen one?



​There are plenty of zero down payment options here in the UK, you simply have to ask for a quote. My own was zero down payment and through Alphabet. Most example quotes are 3 or 6 month down payments, but you can ask for anything you like.
Deany I have to agree that having a lease myself and researching it extensively beforehand, a lot of what is in that thing you posted is nonsense and is either wrong or doesn't apply here.

I suggest you take it down as it is now at the top of the thread and is downright misleading.

To me, leasing is really as simple as adding up the total payable over the contract length, adding in any fees and dividing it by the contract length. That number is what it will cost you to drive the car each month. Is that too much? How much would it cost to PCP? What will depreciation be? What will it be worth at the end? Do I really want a new car?

Those are the questions you need to be asking yourself, not "what is the money factor" and "how can I get the dealer to take 0 months down payment?"

As someone else said, here you are liable for the value of the car - most insurance companies replace old for new if its less than a year old so you will need gap insurance to cover your lease after the initial year (but I think a lot of companies will only do the gap insurance from new so don't wait).
djbenny1

Deany I have to agree that having a lease myself and researching it … Deany I have to agree that having a lease myself and researching it extensively beforehand, a lot of what is in that thing you posted is nonsense and is either wrong or doesn't apply here.I suggest you take it down as it is now at the top of the thread and is downright misleading.To me, leasing is really as simple as adding up the total payable over the contract length, adding in any fees and dividing it by the contract length. That number is what it will cost you to drive the car each month. Is that too much? How much would it cost to PCP? What will depreciation be? What will it be worth at the end? Do I really want a new car?Those are the questions you need to be asking yourself, not "what is the money factor" and "how can I get the dealer to take 0 months down payment?"As someone else said, here you are liable for the value of the car - most insurance companies replace old for new if its less than a year old so you will need gap insurance to cover your lease after the initial year (but I think a lot of companies will only do the gap insurance from new so don't wait).



Hi

The US zero payment assumes GAP is taken out. I will ammend the post.

Cheers
The amount of deposit you pay has nothing to do with the amount an insurance company will pay out in the event of a total write off. If you buy a brand new car, it’s said to depreciate in value as soon as you drive it off the forecourt. If you were to be involved in an accident a week later and the car was written off, normal car insurance would pay out for the current value of the vehicle, as opposed to what you paid for it brand new. Similarly with a lease YOU would be paid the market value of the car and would need to agree payment with the lease company, which maybe more or less than the insurance company pays you. If you feel this is a risk then take out Gap insurance, as mentioned at the start if you saved for a car and paid in cash then wrote it off you would be in the same situation and maybe short of cash to buy same car again.

Leases are relatively simple, if a car costs £20k and after 2 years is estimated to be worth £15k, then you are getting a loan of £5k, lease company adds on a percentage like any other loan to get a total cost this is then split over the term of the contract. Higher deposit lower monthly amounts, there have been a number of deals on here in recent weeks where it has been pointed out that total cost is the same despite a 3/6/9 month deposit.

Because it is based on what the car will be worth at the end of the period, cars with higher depreciation like Fords cost more to lease, and best bang for your buck is often found in executive market as the depreciation on these cars are less.
scottishpunter

The amount of deposit you pay has nothing to do with the amount an … The amount of deposit you pay has nothing to do with the amount an insurance company will pay out in the event of a total write off. If you buy a brand new car, it’s said to depreciate in value as soon as you drive it off the forecourt. If you were to be involved in an accident a week later and the car was written off, normal car insurance would pay out for the current value of the vehicle, as opposed to what you paid for it brand new. Similarly with a lease YOU would be paid the market value of the car and would need to agree payment with the lease company, which maybe more or less than the insurance company pays you. If you feel this is a risk then take out Gap insurance, as mentioned at the start if you saved for a car and paid in cash then wrote it off you would be in the same situation and maybe short of cash to buy same car again.Leases are relatively simple, if a car costs £20k and after 2 years is estimated to be worth £15k, then you are getting a loan of £5k, lease company adds on a percentage like any other loan to get a total cost this is then split over the term of the contract. Higher deposit lower monthly amounts, there have been a number of deals on here in recent weeks where it has been pointed out that total cost is the same despite a 3/6/9 month deposit.Because it is based on what the car will be worth at the end of the period, cars with higher depreciation like Fords cost more to lease, and best bang for your buck is often found in executive market as the depreciation on these cars are less.



Most of that rings true, but as for depreciation, some executive models lose money like a dam collapse loses water!
nihcaj

Most of that rings true, but as for depreciation, some executive models … Most of that rings true, but as for depreciation, some executive models lose money like a dam collapse loses water!


Agreed all depends on the car, all I was pointing out was that a car that is cheap to buy may not necessarily be cheap to leases. The other factor that lease companies have influence over is the total cost of the car, if there is excess supply or they buy in bulk they can get a lower price manufacturer than they would be willing to give an indivual customer.
I just got this for a little less if you play the companies off against each other then will drop a little. Better then the £215 per month Kia wanted for the same thing !

Re gap for a first time leaser in simple terms do I need it ? And do I have to take out the gap insurance with this company as they sent me a quote or can I go else where ?

Thanks
louisetinkerbell109

I just got this for a little less if you play the companies off against … I just got this for a little less if you play the companies off against each other then will drop a little. Better then the £215 per month Kia wanted for the same thing ! Re gap for a first time leaser in simple terms do I need it ? And do I have to take out the gap insurance with this company as they sent me a quote or can I go else where ? Thanks



Looks like i'm in the same boat, looking at getting this model/deal for a total of £3960 (£1296+ £180, then 23 x £108 @ 8000 miles)

same query regarding insurance, whats the best option
never done a lease deal before
Edited by: "BignRed84" 16th Jun 2016
BignRed84

Looks like i'm in the same boat, looking at getting this model/deal for a … Looks like i'm in the same boat, looking at getting this model/deal for a total of £3960 (£1296+ £180, then 23 x £108 @ 8000 miles)same query regarding insurance, whats the best optionnever done a lease deal before



I got mine for 10,000 miles so speak direct
louisetinkerbell109

I just got this for a little less if you play the companies off against … I just got this for a little less if you play the companies off against each other then will drop a little. Better then the £215 per month Kia wanted for the same thing ! Re gap for a first time leaser in simple terms do I need it ? And do I have to take out the gap insurance with this company as they sent me a quote or can I go else where ? Thanks


Hi
Please see post #34, gap is a must in my view.
hotukdeals.com/dea…827
also
https://www.abi.org.uk/Insurance-and-savings/Products/~/~/media/16515033DA6341D0A4FB00ED908528B7.ashx
hope this helps
Edited by: "deany76" 16th Jun 2016
BignRed84

Looks like i'm in the same boat, looking at getting this model/deal for a … Looks like i'm in the same boat, looking at getting this model/deal for a total of £3960 (£1296+ £180, then 23 x £108 @ 8000 miles)same query regarding insurance, whats the best optionnever done a lease deal before


Hi
Please see post #34, gap is a must in my view.
hotukdeals.com/dea…827

also
https://www.abi.org.uk/Insurance-and-savings/Products/~/~/media/16515033DA6341D0A4FB00ED908528B7.ashx

hope this helps
Edited by: "deany76" 16th Jun 2016
louisetinkerbell109

I got mine for 10,000 miles so speak direct



8,000 is well enough though for me, thanks anyway

being a newbie to Leasing, can someone confirm if you can sort out your own finance or do you have to go through the leasing company, Thanks

Edited by: "BignRed84" 16th Jun 2016
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