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Volkswagen Tiguan - purchase or lease?

9
Found 7th Oct 2014
I'm looking to get a new car and can't decide between leasing or buying.

I currently do around 20,000 miles per year. I've looked around and have found a Tiguan for lease at £312 per month for 4 years.

contracthireandleasing.com/car…92/

If I go on the VW website and do a comparison for finance to purchase the same model with the same deposit and length of finance it gives me the following information..

Average miles per year: 20,000
Deposit: £936.00
Deposit Contribution: £2,750.00
47 monthly payments of: £372.76
Retailer cash price: £24,890.00
Acceptance fee:* £125.00
Optional final payment: £7,745.40
Option to purchase fee: ** £60.00
Total amount payable: £29,011.12
Total amount of credit: £21,204.00
Excess mileage (per mile): *** 6.0p
Representative APR: 7.2% APR
Rate of interest: 6.85% fixed

So by my calculation to lease I'd be saving £60 per month which is about £2,800 over the term. Leasing I obviously just give the car back, but if I financed it through VW (yes I know there are other finance options available) I'd need to £7,800 ish to purchase the car outright at the end of the term. Now as I'd have save £2,800 if I leased then I'd need to sell a 4 year old Tiguan with 80k miles on the clock for around £11k to break even based on lease v purchase. (I've done a quick search on autotrader and found a 2010 Tiguan match with 78,000 miles on the clock for just under £10k so in my mind leasing would be more cost efficient).

Have I got that right? If anyone who has experience leasing v purchasing could give me some things to consider it would be much appreciated as I've never leased before.
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9 Comments
carwow.com

Try there for some quotes on the finance. You should save a good deal.

There are a few other sites to try but I can't think of the names but I'm sure this free bump will put someone in viewing distance that can offer the relevant links in the morning.
Banned
Or if you buy it you could just keep it for another 4 years and not pay anything during that time.
That pcp quote would enable you to trade it in towards deposit on next car if in equity too, with a lease you get nothing and would have to pay to fully repair all marks and niggles, curbed wheels etc before hand back where as pcp you could habd back as is and it would be valued as it is at that time.
You could also trade in or settle at any time on pcp but your stuck for 4 years with a lease, if circumstances change
On a 2 year deal lease could be ok but 4 years id probably go pcp
Old question I know but maybe useful to someone...
Tilson have a reasonable lease deal on a 6+23 deal at £222 inc vat for 10k miles. 20k miles is probably available if you call.

tilsungroup.com/vol…621
I'd be careful about getting a tiguan, depending on their age they are known to have clutch problems, something to do with the dual mass flywheel. My husbands clutch failed just 2 weeks outside of its 2 year warranty and it cost £1500 to fix, vw were not in the slightest bit interested. He does approx 15-20k miles per year too so it only failed at 45k miles - not exactly as massive mileage given that the vast majority of these miles are carried out on long motorway journeys with relatively low clutch wear and tear.
Google it and you will find a few people had the same problem.
It is my understanding though that if you were to have the car on lease this would be fixed though so may this would be a better option than buying.
Incidentally, I think vw may have fixed the problem on newer cars now.
Original Poster
I've ordered one now - went through CarWow and got about 20% discount, the car I ordered had a list price of £26,110 and I got it for £21,307.

Yes it's the older model now, but it comes really well spec'd, and the car is still brand new (built in December), just waiting until March to get the new plate on it.
hockeygod76

I've ordered one now - went through CarWow and got about 20% discount, … I've ordered one now - went through CarWow and got about 20% discount, the car I ordered had a list price of £26,110 and I got it for £21,307. Yes it's the older model now, but it comes really well spec'd, and the car is still brand new (built in December), just waiting until March to get the new plate on it.



Why wait, the car is only going to devalue in that time so any advantage of the 'new' plate will have been lost by the nearly 3 months of waiting for it. Just jump in the car now and start enjoying all the comforts that it will provide you with and the peace of mind knowing that the new cars warranty will take care of any faults rather than risking problems with whatever you currently drive.

At the end of the day the 15 plate means nothing other than when the car was registered and any real car nut will know your car is the old version. It doesn't impress anyone and if you are enjoying the idea of impressing the neighbours then just remember that the majority of people buy new cars at the change over, 3 new cars turned up in my street in the first week of the 64plate coming out.
Edited by: "Astec123" 19th Jan 2015
Astec123

Why wait, the car is only going to devalue in that time so any advantage … Why wait, the car is only going to devalue in that time so any advantage of the 'new' plate will have been lost by the nearly 3 months of waiting for it. Just jump in the car now and start enjoying all the comforts that it will provide you with and the peace of mind knowing that the new cars warranty will take care of any faults rather than risking problems with whatever you currently drive. At the end of the day the 15 plate means nothing other than when the car was registered and any real car nut will know your car is the old version. It doesn't impress anyone and if you are enjoying the idea of impressing the neighbours then just remember that the majority of people buy new cars at the change over, 3 new cars turned up in my street in the first week of the 64plate coming out.



Agreed, you're gonna wait another 6 weeks to get your car (which is already several weeks) old, just so you can get the new reg plate!? #nobodyreallycares
Original Poster
bobdylan

Agreed, you're gonna wait another 6 weeks to get your car (which is … Agreed, you're gonna wait another 6 weeks to get your car (which is already several weeks) old, just so you can get the new reg plate!? #nobodyreallycares



You cared enough to post about it...

I'm waiting because I've bought a personalised 15 plate to put on the car, if I drive it now I can't put it on it.
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