Is this a good Car Lease deal?

9
Found 15th Apr
Okay, so I'm thinking of getting my first lease. Advice/opinions please!

VW New Polo SE, RRP is £15935.

3 year contract. 10,000 miles.
Deposit: £1127.38
Monthly: £187.90.
Fees: £0.

TOTAL: £7703.88 over 3 years.

****

Alternatively there is a deal on the VW website:

3 year contract. 10,000 miles. Maintenance, Service and Tyres included. Also includes 1 year insurance (for me it'll cost £555).
Initial: £644.36
Monthly: £214.79

TOTAL: £8161.94 over 3 years.

Thoughts?

****

Alternatively I have found the same vehicle and contract for...

3 year contract. 10,000 miles.
Initial: £612.43
Monthly: £204.14
Fees: £0.

TOTAL: £7757.33 over 3 years.
Community Updates
  1. Ask
Groups
  1. Ask
9 Comments
Have you looked at PCP? The only maintenance you are going to need on a new car is servicing, tyres and brake pads. These cost nothing really especially if your doing under 30k for the term, also VW are giving away 2 years servicing at the moment free meaning you only have to pay for tyres and brake pads once for your mileage and they are offering some steep discounts on new cars at the moment due to low sales. My friend bought a Tiguan yesterday.
Edited by: "cmdr_elito" 15th Apr
I don't know but honestjohn.co.uk has a lot of good information on all types of ownership methids.
Original Poster
cmdr_elito10 m ago

Have you looked at PCP? The only maintenance you are going to need on a …Have you looked at PCP? The only maintenance you are going to need on a new car is servicing, tyres and brake pads. These cost nothing really especially if your doing under 30k for the term, also VW are giving away 2 years servicing at the moment free meaning you only have to pay for tyres and brake pads once for your mileage and they are offering some steep discounts on new cars at the moment due to low sales. My friend bought a Tiguan yesterday.


Thanks for the info. I also noticed VW include 1 year insurance for free. That could be the clincher.

I haven't looked at PCP because that usually costs more with a balloon payment at the end which I'm not too keen on.
Edited by: "Eden0032" 15th Apr
Eden00327 m ago

Thanks for the info. I also noticed VW include 1 year insurance for free. …Thanks for the info. I also noticed VW include 1 year insurance for free. That could be the clincher. I haven't looked at PCP because that usually costs more with a balloon payment at the end which I'm not too keen on.


Well the payment at the end is if you want to own the car, a lease you won’t own the car anyway so your no worse off. You can hand the car back at the end of the 3 years PCP and get another one new one on PCP or buy the car out.

I’m a high mileage driver and PCP was much cheaper than lease for me especially as mine was 0% (ford).
Edited by: "cmdr_elito" 15th Apr
Those are all terrible prices. The lease deals on this site which generally go hot have you paying 20-25% of the cars value over two years with about 8000-10000 miles.
The deals you are looking at are around 50% of the cost over 3 years.
If you search for Polo lease on this site there lots of old deals which give you some idea of what would be good eg Polo GTI for £4200 over two years, slightly better model than the one you are after for £3600 over two years.
If a car was £10000 over two years I wouldn't expect it to be £15000 over three years, because at the start of the 3rd year you are driving a two year old car, so maybe £13000 or less would be better.

Maintenance isn't worth anything because they are under warranty, service is worth maybe £100 for one year and maybe £200 for other and tyres probably wouldn't need replacing within the three year period.

To get a good lease deal I wouldn't say "I want car X with Y trim and Z engine, now what the best price?" I would be open to lots of different cars and see whats the best deal at the time. I can't stress enough how woeful those prices are, maybe search for lease on this site.
If you have your heart set on the Polo, then this appears to be the going rate at the moment. Yes, cheaper deals have been available in the past, but prices have generally gone up over the last few months.

It may or may not be worth waiting for a better deal. Who knows? Or if you want to save a bit of money now, you could get the SEAT Ibiza with the same engine for about £25 per month less. You could also get a SEAT Leon for a little bit more than the Polo.
Edited by: "Guzzle" 15th Apr
Guzzle8 m ago

If you have your heart set on the Polo, then this appears to be the going …If you have your heart set on the Polo, then this appears to be the going rate at the moment. Yes, cheaper deals have been available in the past, but prices have generally gone up over the last few months. It may or may not be worth waiting for a better deal. Who knows? Or if you want to save a bit of money now, you could get the SEAT Ibiza with the same engine for about £25 per month less. You could also get a SEAT Leon for a little bit more than the Polo.


Or get a Fabia and get the slightly more powerful 110 ps version of that engine, get an extra gear and save even more money due to it being a Skoda. Have the estate for work and it certainly goes!
The easiest way to see if it’s worth it is to compare how much the lease deal will cost you over the period to how much the car will be worth. For example, if a lease cost you £7703 over 3 years, have a look and see how much you could buy or sell a 3 year old polo with 30,000 miles for. If you could sell the polo for say £10,000, I’d suggest the lease isn’t worth it.
On a side note, not for everyone I understand, but this lease would cost you £7703 and you had the car back at the end of it. You could buy a Dacia for £6k, add additional warranty to take it to 5 years for about £500 (if I remember right) and you have a cheaper car. Ultimately, buy it for 6k with a 3 year warranty and give it away at 3 years old and you’re still £1703 better off, or even better, sell it and you should still claw back a few grand.
Edited by: "ktm666" 16th Apr
For what its worth, I have learnt that its much better to go for the deal rather than a specific model.

My Mrs wanted a Golf, couple of years back, and oddly the Golf R was £70 a month cheaper than a low spec 1.4 SE.

Sciroccos seem to be dirty cheap at the moment due to them not being made anymore.
Post a comment
Avatar
@
    Text

    Top Discussions

    Top Merchants