Skoda Kodiaq 1.5TSi 150PS SEL Automatic - Lease - £2,490 Deposit - 36 Months x £236pm - 10k Miles - Total Cost £10,750 @ Simpsons Skoda
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Skoda Kodiaq 1.5TSi 150PS SEL Automatic - Lease - £2,490 Deposit - 36 Months x £236pm - 10k Miles - Total Cost £10,750 @ Simpsons Skoda

34
Posted 14th Nov 2019
SKODA KODIAQ 1.5TSi 150PS SEL DSG 7 seats from only £236 per month including VAT.

This offer is available on 'Personal Contract Hire' with just £2490 deposit including VAT. Mileage allowance is 10000 per annum, excess total contract mileage above 30000 will be charged at 8.4p per mile. All prices are inclusive of VAT. Metallic Paint is a chargeable option. 36 month contract. Lower Initial Rental , Higher Mileage Allowance Offers are available

Total £10,750 which works out at £307/mo all in.
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I reckon there are two types of people - people who understand total lease cost versus same term depreciation and those that don't. I suspect some of the former are trolls, however.
Here we go again,if you don't have any interest in lease deals why drop by and comment.
I am quite happy leasing, I have leased some very nice vehicles over the past 6 years, worth in the region of £100k, but total lease costs have been just over £19k over the 6 years.

If I had gone out and bought all these vehicles I can 100% guarantee I would of lost more than £19k.

The best part, people who in the past have criticised my approach to vehicle ownership then go and spend a few grand on a 2 week holiday........
£10,750 - with nothing to show for it at the end of three years? An odd, if popular, way to finance running a car - rather like renting colour TVs back in the day. Apparently cheap, but actually expensive.
Newbold14/11/2019 19:41

£10,750 - with nothing to show for it at the end of three years? An odd, …£10,750 - with nothing to show for it at the end of three years? An odd, if popular, way to finance running a car - rather like renting colour TVs back in the day. Apparently cheap, but actually expensive.


Crazy world we live in, 11k is descent second hand car money but we live in a disposable society where people want the easiest quickest way to keep up with the Joneses on the school run
34 Comments
Bristol street motors cheaper still £10391
£10,750 - with nothing to show for it at the end of three years? An odd, if popular, way to finance running a car - rather like renting colour TVs back in the day. Apparently cheap, but actually expensive.
Newbold14/11/2019 19:41

£10,750 - with nothing to show for it at the end of three years? An odd, …£10,750 - with nothing to show for it at the end of three years? An odd, if popular, way to finance running a car - rather like renting colour TVs back in the day. Apparently cheap, but actually expensive.


Well it’s better than pcp with an APR.
Newbold14/11/2019 19:41

£10,750 - with nothing to show for it at the end of three years? An odd, …£10,750 - with nothing to show for it at the end of three years? An odd, if popular, way to finance running a car - rather like renting colour TVs back in the day. Apparently cheap, but actually expensive.


Crazy world we live in, 11k is descent second hand car money but we live in a disposable society where people want the easiest quickest way to keep up with the Joneses on the school run
I reckon there are two types of people - people who understand total lease cost versus same term depreciation and those that don't. I suspect some of the former are trolls, however.
swayndo14/11/2019 19:53

I reckon there are two types of people - people who understand total lease …I reckon there are two types of people - people who understand total lease cost versus same term depreciation and those that don't. I suspect some of the former are trolls, however.


Not everyone who doesn’t fall for the marketing bs or doesn’t agree with you is a troll
Okay
swayndo14/11/2019 19:53

I reckon there are two types of people - people who understand total lease …I reckon there are two types of people - people who understand total lease cost versus same term depreciation and those that don't. I suspect some of the former are trolls, however.


And there are also people who think they understand PCPs, as well as those who actually do.


moneysavingexpert.com/car…se/
Newbold14/11/2019 20:01

And there are also people who think they understand PCPs, as well as those …And there are also people who think they understand PCPs, as well as those who actually do.https://www.moneysavingexpert.com/car-finance/personal-contract-purchase/


Ah wasnae me that one. I get PCPs. If you GFV is better than what it's actually likely to be you could be onto a winner.
lucas14/11/2019 19:46

Crazy world we live in, 11k is descent second hand car money but we live …Crazy world we live in, 11k is descent second hand car money but we live in a disposable society where people want the easiest quickest way to keep up with the Joneses on the school run


£11k is going down?
Newbold14/11/2019 19:41

£10,750 - with nothing to show for it at the end of three years? An odd, …£10,750 - with nothing to show for it at the end of three years? An odd, if popular, way to finance running a car - rather like renting colour TVs back in the day. Apparently cheap, but actually expensive.


You do know all cars depreciate and lose money? Outright ownership carries less risks but roughly the same money loss yet I cannot buy a new car outright because of the cost. So either I buy second hand, which I still can't afford to buy outright (& will pay interest on a depreciating asset) and it not have a warranty or ved not included either...
Msx9814/11/2019 20:14

You do know all cars depreciate and lose money? Outright ownership carries …You do know all cars depreciate and lose money? Outright ownership carries less risks but roughly the same money loss yet I cannot buy a new car outright because of the cost. So either I buy second hand, which I still can't afford to buy outright (& will pay interest on a depreciating asset) and it not have a warranty or ved not included either...


I suppose the problem here lies in the car being perceived as a necessity rather than a luxury. Too many people can’t afford a car but feel entitled to one just because and end up in debt instead of working and saving. That’s where these companies make their killings.
Here we go again,if you don't have any interest in lease deals why drop by and comment.
I am quite happy leasing, I have leased some very nice vehicles over the past 6 years, worth in the region of £100k, but total lease costs have been just over £19k over the 6 years.

If I had gone out and bought all these vehicles I can 100% guarantee I would of lost more than £19k.

The best part, people who in the past have criticised my approach to vehicle ownership then go and spend a few grand on a 2 week holiday........
lucas14/11/2019 20:27

I suppose the problem here lies in the car being perceived as a necessity …I suppose the problem here lies in the car being perceived as a necessity rather than a luxury. Too many people can’t afford a car but feel entitled to one just because and end up in debt instead of working and saving. That’s where these companies make their killings.


Except someone can work their socks off and save and buy it outright and still lose money in the depriciation of the car like they would leasing. Car companies aren't corrupt, people are free to make good or bad choices and if someone can't afford it credit checks exist to protect buyer and seller. If someone can't be arsed to work out their income and outgoings that is their fault not a companies. I don't begrudge anyone buying what they want but not will I feel sorry if they can't afford something they choose as part of their lifestyle. I feel sorry for those who genuinely can't afford the cost of living and there are plenty of them. (as well as plenty who buy iphones they don't need and chuff 20 a day...)
lucas14/11/2019 20:27

I suppose the problem here lies in the car being perceived as a necessity …I suppose the problem here lies in the car being perceived as a necessity rather than a luxury. Too many people can’t afford a car but feel entitled to one just because and end up in debt instead of working and saving. That’s where these companies make their killings.


I take it you bought your car outright for cash, right? Well that's just amazing, you are incredible and I'm so proud of you....

Now that out of the way, can we get back to talking about the deal now please?
lucas14/11/2019 20:27

I suppose the problem here lies in the car being perceived as a necessity …I suppose the problem here lies in the car being perceived as a necessity rather than a luxury. Too many people can’t afford a car but feel entitled to one just because and end up in debt instead of working and saving. That’s where these companies make their killings.


Very true. Large numbers of gullible people are being lured into these potentially onerous contracts by apparently low monthly outgoings, thinking they can afford something they actually can't - just to impress the neighbours.

More and more worrying articles in the financial press now about the dangers of these so-called 'deals' and where they can lead. For example:

Car finance guru Graham Hill, the former director of the National Association of Commercial Finance Brokers, warns that this could potentially erupt into the next PPI scandal, which produced windfalls for millions of Britons and cost the UK banking industry £50bn.
“In every PCP contract, you could pull it apart and find somewhere that it has been mis-sold,” he says. “Not intentionally, but the law doesn’t recognise that: mis-sold is mis-sold. I don’t believe the dealers are doing a bad job, what is happening is a lack of clarification. Maybe there’s not enough training.”

Rachel Reeves, Labour MP and chairman of the business, energy and industrial strategy committee, says she wants to see “far more transparency and greater scrutiny of the market”. She warns: “I’m deeply concerned about the risks this poses to both households and the wider economy.

“If someone buying a car suddenly loses their job, they could find themselves saddled with a huge debt running into thousands of pounds that they could be unable to repay.” Reeves points out that unlike other sectors there are “no reliable figures on the level of defaults and arrears on loans so it is hard to assess the true scale of the problem”.
Her concerns are echoed by debt charities, which are encountering issues with car finance.
StepChange has found that 15pc of those who had used-car finance felt that it hadn’t been adequately explained to them and 23pc felt pressured into signing up to a deal.

Peter Tutton, head of policy at debt charity StepChange, says: “We think the FCA keeps needing to look at this market … it’s a hotspot, cars are expensive, people need them and they are focused on the car not the credit.”
The burden of monthly payments running into hundreds of pounds will be too much to handle for some in a recession as unemployment jumps, leaving drivers needing a car without one. Some fear that issues for consumers could ripple out to the wider economy.

Conservative MP Steve Baker, a Treasury committee member, warns: “I’m alarmed by the situation in car loans.
“The parallels with housing in the run up to the global financial crisis are appalling. The potential human costs of excess cheap credit are grave indeed.”
The car finance market is smaller than the sub-prime mortgage bubble that capsized the global economy a decade ago. Healthier banks have taken on a smaller proportion of the loans, too. But that risk has been pushed elsewhere.
The bulk of the exposure is on car manufacturers and dealers’ own finance houses. PCP becoming the main product in car finance has been a boon to the industry, particularly the more premium automotive manufacturers.
The model encourages churn and drivers using car finance pay 68pc more than consumers buying their car outright, according to Auto Trader.
That exposure could come at a cost and economists at the Bank of England warned in 2017 that the industry is “increasingly vulnerable to shocks”. It worried that the industry was building credit risk on the assumption that used car values would remain solid.
The Bank estimated that the whole automotive industry accounted for around 4pc of GDP while Germany and its car giants are particularly exposed to any cracks surfacing.
Falling global car sales have already turned the screw on its flagship carmakers and, with the UK the German car sector’s biggest market, problems emerging in car finance could exacerbate its industrial woes.
“Like any borrowing it can serve a purpose but it can blow up on you,” warns Prof David Musto at the University of Pennsylvania, reflecting on the US market.
“It’s always a risk. These guys are salesmen, this is how they make their money.”
If the risks of the car finance market are as great as some fear, consumers, lenders and policymakers must hope the wheels never fall off.
KCooperman14/11/2019 20:46

I take it you bought your car outright for cash, right? Well that's just …I take it you bought your car outright for cash, right? Well that's just amazing, you are incredible and I'm so proud of you....Now that out of the way, can we get back to talking about the deal now please?


Yes I did. As you wish, these deals are for gullible suckers
lucas14/11/2019 20:49

Yes I did. As you wish, these deals are for gullible suckers


I'd rather be a gullible sucker than a fool.

Buy appreciating assets like houses, lease depreciating assets such as cars. Yet so many people rent their houses and buy their cars.

Fair enough if you pick up a 2nd hand car for 5 grand and it lasts you years, but you're at constant risk of repair bills. I'd pay for the peace of mind thanks.
Newbold14/11/2019 20:48

Very true. Large numbers of gullible people are being lured into these …Very true. Large numbers of gullible people are being lured into these potentially onerous contracts by apparently low monthly outgoings, thinking they can afford something they actually can't - just to impress the neighbours.More and more worrying articles in the financial press now about the dangers of these so-called 'deals' and where they can lead. For example:Car finance guru Graham Hill, the former director of the National Association of Commercial Finance Brokers, warns that this could potentially erupt into the next PPI scandal, which produced windfalls for millions of Britons and cost the UK banking industry £50bn.“In every PCP contract, you could pull it apart and find somewhere that it has been mis-sold,” he says. “Not intentionally, but the law doesn’t recognise that: mis-sold is mis-sold. I don’t believe the dealers are doing a bad job, what is happening is a lack of clarification. Maybe there’s not enough training.”Rachel Reeves, Labour MP and chairman of the business, energy and industrial strategy committee, says she wants to see “far more transparency and greater scrutiny of the market”. She warns: “I’m deeply concerned about the risks this poses to both households and the wider economy.“If someone buying a car suddenly loses their job, they could find themselves saddled with a huge debt running into thousands of pounds that they could be unable to repay.” Reeves points out that unlike other sectors there are “no reliable figures on the level of defaults and arrears on loans so it is hard to assess the true scale of the problem”.Her concerns are echoed by debt charities, which are encountering issues with car finance.StepChange has found that 15pc of those who had used-car finance felt that it hadn’t been adequately explained to them and 23pc felt pressured into signing up to a deal.Peter Tutton, head of policy at debt charity StepChange, says: “We think the FCA keeps needing to look at this market … it’s a hotspot, cars are expensive, people need them and they are focused on the car not the credit.”The burden of monthly payments running into hundreds of pounds will be too much to handle for some in a recession as unemployment jumps, leaving drivers needing a car without one. Some fear that issues for consumers could ripple out to the wider economy.Conservative MP Steve Baker, a Treasury committee member, warns: “I’m alarmed by the situation in car loans.“The parallels with housing in the run up to the global financial crisis are appalling. The potential human costs of excess cheap credit are grave indeed.”The car finance market is smaller than the sub-prime mortgage bubble that capsized the global economy a decade ago. Healthier banks have taken on a smaller proportion of the loans, too. But that risk has been pushed elsewhere.The bulk of the exposure is on car manufacturers and dealers’ own finance houses. PCP becoming the main product in car finance has been a boon to the industry, particularly the more premium automotive manufacturers.The model encourages churn and drivers using car finance pay 68pc more than consumers buying their car outright, according to Auto Trader.That exposure could come at a cost and economists at the Bank of England warned in 2017 that the industry is “increasingly vulnerable to shocks”. It worried that the industry was building credit risk on the assumption that used car values would remain solid.The Bank estimated that the whole automotive industry accounted for around 4pc of GDP while Germany and its car giants are particularly exposed to any cracks surfacing.Falling global car sales have already turned the screw on its flagship carmakers and, with the UK the German car sector’s biggest market, problems emerging in car finance could exacerbate its industrial woes.“Like any borrowing it can serve a purpose but it can blow up on you,” warns Prof David Musto at the University of Pennsylvania, reflecting on the US market.“It’s always a risk. These guys are salesmen, this is how they make their money.”If the risks of the car finance market are as great as some fear, consumers, lenders and policymakers must hope the wheels never fall off.


All very interesting except this is a PCH offer....nothing to do with PCPs.
HHUKD14/11/2019 22:00

All very interesting except this is a PCH offer....nothing to do with …All very interesting except this is a PCH offer....nothing to do with PCPs.


Yes - though the two are very similar, and PCH deals are arguably even worse than PCPs.


moneyadviceservice.org.uk/en/…car
Different strokes... I *think* I can lose less buying a new one at Drive The Deal and selling after 3 years. Sell after 2 years is probably better (better resale with warranty still available). Then repeat. All with a 2.9% 7 year loan (to keep payments low, but repay early). At least with 3 kids I know I worry less than with a rental...
These lease threads are like being stuck in Groundhog Day. If it's not for you then move on, maybe it suits somebody else.

My wife travels a lot for work and gets a car allowance. She needs a reliable car and doesn't want the hassle of selling one every couple of years so she leases. I on the other hand prefer to buy high-spec and high-mileage second-hand cars and keep them for 4-5 years. Sometimes maintenance can be expensive and selling the car on difficult but I'm ok with that.

Leasing works for her, buying works for me.
Edited by: "phishwak" 15th Nov 2019
If a lease is not for you move along, life is too short.
Newbold14/11/2019 22:46

Yes - though the two are very similar, and PCH deals are arguably even …Yes - though the two are very similar, and PCH deals are arguably even worse than PCPs.https://www.moneyadviceservice.org.uk/en/articles/leasing-a-car


They are quite different. One is a type of PURCHASE and the other is a type of HIRE.

Thank you for posting a scaremongering PCP link on PCH thread.
HHUKD15/11/2019 06:09

They are quite different. One is a type of PURCHASE and the other is a …They are quite different. One is a type of PURCHASE and the other is a type of HIRE. Thank you for posting a scaremongering PCP link on PCH thread.


I'm afraid you're yet another one missing the point and misunderstanding the similarities between all these types of contract.

There are technical differences, yes, but essentially the aim is the same - for motor manufacturers and dealers to confuse the buying public into thinking they can afford a £40,000 vehicle instead of their usual £20,000 vehicle by manipulating the monthly payments into relatively small, apparently affordable, sums.

This is precisely the same approach that led, mainly with property, to the 2007/8 economic collapse, and there's now more and more evidence that we're heading the same way again.

Some people can afford these so-called deals, and that's fine. Others think they can, but will find that they can't when times become tougher - that's the problem.
margamboy14/11/2019 20:31

The best part, people who in the past have criticised my approach to …The best part, people who in the past have criticised my approach to vehicle ownership then go and spend a few grand on a 2 week holiday........


I think that says more about you than them. A decent holiday is much more life-enriching than any car.

I'd rather chat to someone about their adventurous holiday; hearing about the culture, wildlife, landscape, food etc. than with a car nerd telling me about the amazing heated seats, 0-60 acceleration etc.
margamboy14/11/2019 20:31

Here we go again,if you don't have any interest in lease deals why drop by …Here we go again,if you don't have any interest in lease deals why drop by and comment. I am quite happy leasing, I have leased some very nice vehicles over the past 6 years, worth in the region of £100k, but total lease costs have been just over £19k over the 6 years.If I had gone out and bought all these vehicles I can 100% guarantee I would of lost more than £19k.The best part, people who in the past have criticised my approach to vehicle ownership then go and spend a few grand on a 2 week holiday........


So it’s ok for you to comment and give your opinion then hypothetically judge other people for spending on something meaningful and life changing like an expensive holiday but unless they agree with you then people shouldn’t comment? The heat of this deal at -95 proves the popular opinion
SuffolkLad22215/11/2019 09:03

I think that says more about you than them. A decent holiday is much more …I think that says more about you than them. A decent holiday is much more life-enriching than any car. I'd rather chat to someone about their adventurous holiday; hearing about the culture, wildlife, landscape, food etc. than with a car nerd telling me about the amazing heated seats, 0-60 acceleration etc.


That's not the point I was making, I am lucky enough to be able to do both and I rank a good holiday high, if people like myself spend a few thousand on a nice break then I have no problem with it. But for one I would not go on a holiday deal and slate it because you could get a holiday in Spain for half the price, and secondly people I speak with question my leasing of vehicles then on the same breath have been putting £200 a month away for a 2 week holiday, I need a reliable vehicle for work and just don't want the hassle of repairs so leasing works for me, if someone is happy to drive around in £5k 10 year old BMW and then have their annual holiday I also have no problem with it, I would not question that logic, but it seems fair game to question those who lease cars instead of buying old bangers.
lucas15/11/2019 09:20

So it’s ok for you to comment and give your opinion then hypothetically j …So it’s ok for you to comment and give your opinion then hypothetically judge other people for spending on something meaningful and life changing like an expensive holiday but unless they agree with you then people shouldn’t comment? The heat of this deal at -95 proves the popular opinion


If someone gets a new car and that safely gets them and the family out for days away in the country and back and forth to work in safe reliable way that can also be life changing.
margamboy15/11/2019 10:08

That's not the point I was making, I am lucky enough to be able to do both …That's not the point I was making, I am lucky enough to be able to do both and I rank a good holiday high, if people like myself spend a few thousand on a nice break then I have no problem with it. But for one I would not go on a holiday deal and slate it because you could get a holiday in Spain for half the price, and secondly people I speak with question my leasing of vehicles then on the same breath have been putting £200 a month away for a 2 week holiday, I need a reliable vehicle for work and just don't want the hassle of repairs so leasing works for me, if someone is happy to drive around in £5k 10 year old BMW and then have their annual holiday I also have no problem with it, I would not question that logic, but it seems fair game to question those who lease cars instead of buying old bangers.


You said "The best part, people who in the past have criticised my approach to vehicle ownership then go and spend a few grand on a 2 week holiday....".
I'm struggling to interpret this as anything other than you believing that a car is more important than a holiday.

Your subsequent explanation seems to have little relevance to that statement.
SuffolkLad22215/11/2019 10:25

You said "The best part, people who in the past have criticised my …You said "The best part, people who in the past have criticised my approach to vehicle ownership then go and spend a few grand on a 2 week holiday....". I'm struggling to interpret this as anything other than you believing that a car is more important than a holiday.Your subsequent explanation seems to have little relevance to that statement.


Well it is partly true for me, because without a reliable vehicle I would not be able to get to work to pay for a nice holiday, so in order of priority a car is more important as it helps pay for the holiday and supports lots of other activities I involve myself that give me more pleasure than 2 weeks in the sun such as our annual Skiing holiday in the French Alps, where I need a large and reliable 4x4 vehicle.
Edited by: "margamboy" 15th Nov 2019
margamboy15/11/2019 15:08

Well it is partly true for me, because without a reliable vehicle I would …Well it is partly true for me, because without a reliable vehicle I would not be able to get to work to pay for a nice holiday, so in order of priority a car is more important as it helps pay for the holiday and supports lots of other activities I involve myself that give me more pleasure than 2 weeks in the sun such as our annual Skiing holiday in the French Alps, where I need a large and reliable 4x4 vehicle.


I hope your sons Ollie and Tarquin are well
I don’t understand. I was lucky to get a Skoda VRS (a £30k car) for under 5k over two years. Coming to the end of the lease, Skoda have now offered to sell the car (to friends/family) for £15k. £5k+£15k=£20k which is a lot less than the £30k. Tell me what’s wrong with leasing
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