Seat LEON HATCHBACK 1.4TSI FR TECH Personal Lease £4548.00 @ National Vehicle Solutions
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Seat LEON HATCHBACK 1.4TSI FR TECH Personal Lease £4548.00 @ National Vehicle Solutions

6
Found 11th Apr
23 x £83.76

Initial rental £2400

Admin fee £239.99

Total £4548

6000 miles per year.

Overall £189.50 a month

Free metallic paint.

6 Comments

I can understand some of the people who want a new hot hatch and have to pretend that they can afford a new car.

Things like this, with a massive 6000 MPA - I will always struggle to understand.

If I was into cars I'd much prefer to save up and buy outright instead of hiring it for 2 years. £6000 can buy you a hell of a lot of car - haha!!

6,000 miles wouldn't be enough for me but it's plenty for some people. If you need more miles then increasing the allowance to 10k per year costs a huge £7.56 extra per month.

The cost of this deal is not £6,000, it's actually less than £5,000, even with the increased mileage allowance. That same money will get you a 5 to 6 year old Leon with about 50k on the clock, part worn tyres, max 1 years VED and warranty. It probably won't break down if it's been looked after, but if it does then once your warranty has run out then that cost is on you.

Not everyone that leases does so to pretend they can afford a new car. There are those that do it as they know it can sometimes work out less expensive than buying outright. You just have to shop around and know the difference between a good deal and a bad deal. Also with leasing you get fixed costs and you don't have a large amount of cash tied up in a depreciating asset.

Everyone knows second hand cars are less expensive than new ones. It's basic economics. A more meaningful comparison would be to compare the cost of this lease with purchasing either with cash or via pcp.

KareemSaid

Things like this, with a massive 6000 MPA - I will always struggle to … Things like this, with a massive 6000 MPA - I will always struggle to understand.



42% of all UK motorists do 6k miles or less:

https://s17.postimg.org/dm8xny2fz/Capture.jpg

KareemSaid

If I was into cars I'd much prefer to save up and buy outright instead of … If I was into cars I'd much prefer to save up and buy outright instead of hiring it for 2 years. £6000 can buy you a hell of a lot of car - haha!!



Such as? A seven year old Focus? Congrats!



KareemSaid

I can understand some of the people who want a new hot hatch and have to … I can understand some of the people who want a new hot hatch and have to pretend that they can afford a new car. If I was into cars I'd much prefer to save up and buy outright instead of hiring it for 2 years. £6000 can buy you a hell of a lot of car - haha!!



I'll never understand why people seem to think that leases are for people trying to pretend they can afford a new car. You need to put some figures and assumptions against owning versus leasing rather than just having that warm fuzzy feeling that you own the car.

What about those of us who have that £7000 and an S&S ISA with which they estimate they can achieve a 7% return annually?

The return on £7000 invested for 2 years at 7% p/a would be £1014.30.

However, for a fair comparison, we'd need to pull the funds needed for the lease out of the ISA and leave the rest invested, i.e. you'd be starting with £4360.01 in your ISA and pulling £83.76 out of it monthly. This reduces the return quoted above to £495.27.

You'd have stuck £7000 in your ISA, paid the overall lease cost of £4566.47 and be left with £2928.80 in your ISA.

In buying, you'd have spent £7,000 on the car and £300 or so in tax. The 6000 miles per year on a Seat lease with longlife servicing means no tyres and a single service. Your purchased car will likely require 4 tyres and an extra service - lets say around £600.

Putting all those figures together means that you'd need to sell your car for £2928.80 + £300 + £600 = £3828.80 to be even with the lease.

A typical car depreciates by 35% in 2 years meaning that your car would be worth £4550.

In summary, if buying a 4 year old Focus and selling after 2 years, you should reasonably expect to save £721.20 over the cost of leasing this new car. I, for one, would be willing to pay the 19% premium to own a brand new Seat Leon over a 4 year old Focus.

The above figures assumes that nothing goes wrong with the Focus - which is well outside it's warranty period. That's a pretty big assumption and any deviation skews the results towards the lease being the cheaper option.

Personally, I change cars every 2 years anyway so leasing avoids the hassle of having to deal with potential buyers when trying to sell a car.
Edited by: "marathonic" 12th Apr

This deal has been available for over a month, I almost went for this but opted for the Ateca.

Heat from me. That's a good price for a nice looking car.
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