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Personal Contract Hire

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bigc218 View Drop Down
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    Posted: 11 Jan 2017 at 10:06pm
I may have not mentioned but my deal through work covers tax, insurance and maintenance so I literally put fuel in. Having seen so much of my cash lost through depreciation on my last few cars I am happy to walk away after 2 years with nothing. 

It may not suit me forever but currently it's a good deal. 
2016 kia sportage isg 4 1.7d. Fusion white
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Signman View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Signman Quote  Post ReplyReply Direct Link To This Post Posted: 11 Jan 2017 at 9:58am
Indeed Garynic2 - the way some people treat possibly the second or third greatest expense in life (behind their home & family) does make me wonder.

Although I cover 20k miles a year they are mostly easy, off peak motorway ones and a couple of stone chips is about the worse of it for me - but some of the tatty interiors and scuffed wheels/bumpers on many under 3 year old cars which I conclude are mostly on finance does beggar belief.

On the matter of my deal, I was quite chuffed with myself but I think I did well because I waited for the initial February 2016 new generation rush to die down and I went for the luxury/safety features of the less popular 4 rather than the fashionable sportiness of the GT Line. For the new 2017MY and the changing economic outlook I'm not so sure my dealer could be so generous?
2016 Sportage '4' 1.7crdi Gun Metal - From 13.4.16 Lovin' it. 20k miles covered ave 47mpg
2014 Sportage Black Edition 1.7crdi 25.7.14-13.4.16. 37k+ enjoyable miles covered, averaging 48mpg.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote garynic2 Quote  Post ReplyReply Direct Link To This Post Posted: 11 Jan 2017 at 9:13am
Originally posted by Signman Signman wrote:

You can do many pcp's with little or no deposit? Some lease agreements are 3+ or even 6+ monthly payment to begin so a typical £300pm lease would need £900 or even £1800 down plus the first month?

I made no actual monetary deposit my 2014 sporty had £1k equity (dealer's valuation less redemption of previous pcp as I did it early), plus I got £2k discount off list and the Kia pcp added £500 deposit allowance and free 3 year service plan. I also got free paint protection and mud flaps fitted.

seems a good deal...well done youEmbarrassed

my car was £990 deposit and first payment begins after 1 month.....I am quite a fanatical cleaner of cars so have no worries about fair wear and tear policy. Have you seen some of the examples they give of what is not acceptable lol......

Can't believe there are people out there who abuse cars so muchAngry
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Signman View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Signman Quote  Post ReplyReply Direct Link To This Post Posted: 11 Jan 2017 at 9:08am
You can do many pcp's with little or no deposit? Some lease agreements are 3+ or even 6+ monthly payment to begin so a typical £300pm lease would need £900 or even £1800 down plus the first month?

I made no actual monetary deposit my 2014 sporty had £1k equity (dealer's valuation less redemption of previous pcp as I did it early), plus I got £2k discount off list and the Kia pcp added £500 deposit allowance and free 3 year service plan. I also got free paint protection and mud flaps fitted.
2016 Sportage '4' 1.7crdi Gun Metal - From 13.4.16 Lovin' it. 20k miles covered ave 47mpg
2014 Sportage Black Edition 1.7crdi 25.7.14-13.4.16. 37k+ enjoyable miles covered, averaging 48mpg.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote garynic2 Quote  Post ReplyReply Direct Link To This Post Posted: 11 Jan 2017 at 8:21am
Never really considered PCP as the deposit is so high.....
Kia Sportage 1.7CRDi ISG 4 Silver Frost
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Signman View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Signman Quote  Post ReplyReply Direct Link To This Post Posted: 11 Jan 2017 at 8:14am
2010-2013 I leased a Mazda 6 with full maintenance/service/tyres.
60,000 miles cost me the best part of £18k with no choice to keep the car or use any 'equity' for the next lease 3 months up front.
Hand back was ok because it was mint, but increasingly I read of leasing companies trying to argue about fair wear and tear and I would not want that stress every time.

My 2016 Sportage will cost me on pcp £13k for 36 months/60k miles with free servicing as part of the deal (so only tyres and VED to worry about) which is a HUGE £5k saving on the leased Mazda (which was also a cheaper vehicle list price).

Unlike the leased Mazda, with the pcp Sportage I have the option to buy it for £11.5k, chop it in for another Kia (with maybe a few quid in my favour when it's valued) or hand it back after discussing fair wear and tear. The £5k saving over 3 years and the options available make pcp my favoured choice.

Edited by Signman - 11 Jan 2017 at 8:20am
2016 Sportage '4' 1.7crdi Gun Metal - From 13.4.16 Lovin' it. 20k miles covered ave 47mpg
2014 Sportage Black Edition 1.7crdi 25.7.14-13.4.16. 37k+ enjoyable miles covered, averaging 48mpg.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote garynic2 Quote  Post ReplyReply Direct Link To This Post Posted: 11 Jan 2017 at 8:01am
I think the price you were quoted is madness. Just looked up a GT line which would be about £7500 for 2 years. Yes you would own the car and yes it would be cheaper in the long run.
But using your scenario I could lease the same car 3 times taking us to 6 years and I would have paid less. You would be the proud owner of a 6 year old car, I will have nothing
Leasing is not for everyone I agree, it is only my second lease and my last car which I had to reject was fully paid for with cash. When I got my refund it was at that moment a light went on and I realised that having all that money depreciating on the driveway was crazy. The lease car has no real commitment except for 3 months deposit and then you rent as you go.....This suits me at the moment, and remember I am driving a £27000+ car for £1000 deposit. You are running an ageing car having to deal with MOT's, road tax etc......And you tipped up £23500 for the privelage.
The real way to save money in a car is to buy used at about 12 months and run it into the ground, a friend paid £12k for a Nissan Quahqai and it is still going strong at 160k but each to their own. Maybe next time I will do similar.....Leasing gives me 2 years breathing space without any commitment or hassle....

Edited by garynic2 - 11 Jan 2017 at 8:18am
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Kigoiuk Quote  Post ReplyReply Direct Link To This Post Posted: 10 Jan 2017 at 11:44pm
I priced up a lease on a 2.0 manual gt line after deposit and monthly payments it came to £10.556 
for two years 
if I did it again with another new car after two years for the same period and no price change it would cost another £10.556
after four years a total of £21.000 and no car 

yet I paid £23.500 for a GT line with 5 years service included and after 4 years I would still own a car worth around 40 to 45% of its new value and still with 3 years warranty and one years servicing left  . or say £10.000 worth of Car 

If you do the maths you will find in the LONG RUN it is more cost effective to buy than lease .

the only benefit of leasing is you get a new car every 2 years on the above example .
and you do not empty your savings of one large lump sum .

whatever way you choose to Drive a Sportage ,
if your happy paying for not actually owning the car then all well and good .

I'm a bit old fashioned in that I prefer to actually own the Car .


I may change my point of view if the figures to lease where more attractive but at the moment they are not .
What people also have to take into account is money in the bank is Dead money as no interest is being paid , so where is it better suited , useing it to get a good cash deal to buy a car or emptying it gradually over 4 years on the same type of car and left with nothing after it .

I can pay back into my savings account a payment monthly equal to the lease to put the balance back in that was taken out 4 years previously , so at 4 years I have leased the car to myself and still have the CAR and my account has been replenished .






2016 66reg Sportage 2.0 GT Line manual in Red
2007 Sportage xs silver 90.000 miles and still going strong
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bigc218 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bigc218 Quote  Post ReplyReply Direct Link To This Post Posted: 10 Jan 2017 at 9:36pm
some great accountant once said, if it appreciates buy it if it depreciates lease it.....

Cars are money pits. I like the no hassle of just add fuel that leasing gives me, as I only have it 2 years I won't even need to have it serviced. 
2016 kia sportage isg 4 1.7d. Fusion white
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Post Options Post Options   Thanks (0) Thanks(0)   Quote jaybro187 Quote  Post ReplyReply Direct Link To This Post Posted: 09 Jan 2017 at 10:59pm
I got mine from intelligent car leasing. They was very good start to finish no extra selling and all done over emails
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