Leasing A Lexus...

[rhaines]

Need some quick advice here peeps...

One of the consultants visiting the office for a few days is looking to lease a car rather than take a company car, withh £400 a month to play with he was thinking of a B:censorW, I've suggested a Lexus as a much better alternative, what he is interested in would be what sort of deals are around, can you lease LExus's for around that figure ?

Does anybody here have some example pricings ??

Cheers in advance for the help

[Steve]

i know someone who is paying £400 a month and is leasing an IS200

but i dont know the finer details

[ColinBarber]

http://www.lexus.co.uk/finance.php?page=pr...te⊂=personal

£430 a month of an IS200 SE but with a limit of 10,000 miles per year. I guess there are better deals out there than this. I know Lexus dealers have offers now and again.

[Fidgits]

Okay, this always confuses me...

You take an allowance instead of a company car... you go pay that money to a lease company, have a car for 3/4 years, and at the end of it, have to give the car back!!! Whats the point..

I get a car allowance, and the moment I switched from company cars to it, I went out an bought a car on HP... for 400 a month, he could buy a brand new IS, and in 3 years time, he would have a car worth 14 grand, rather than having to simply give it back!?! Theres no restriction on mileage if he buys it, he has to insure it no matter what...

Okay, you have to pay a deposit and service costs, but he'll get 3 years warranty...

To me, its a no-brainer...

Buy, dont lease!

[dlayen]

totally agree came out of company car scheme get money instead brought lexus

[ricky_is200]

For people like me who didn't have a deposit (I'd just bought a house) buying outright wasn't an option.

I wanted to keep the car for no more than three years and do about 22K miles a year.

Paying off a £22500 car (they were more expensive in those days!) plus interest over 36 months is very expensive so I looked at the personal contract plans that offer a final payment, but lower monthly figures. This is still the same as leasing in that you don't own the car at the end unless you pay them a lump sum which I probably wouldn't have the money for and would be wanting to change the car anyway.

Then I looked at leasing and the price per month was similar, and you can still pay a final payment at the end to buy the car but with leasing I was able to include maintanance packages for true fixed cost motoring, including roadtax. In the 67K miles I did in the IS200 I had some very expensive bills. £787 for the 40K service for example and I got through many Bridgestone S03 tyres so I definately think leasing worked out better for me as I didn't have to pay for any of it.

[rhaines]

ricky don't spose you have some example figures ?

the car would also need to be able to cover 30k per year and maintenance would be a bonus :D

[ricky_is200]

Have a look at:

http://www.lexfreechoice.co.uk/freechoice/...nline_quote.htm

Examples figures:

Vehicle Details LEXUS IS200 2.0 SPORT 4DR MAN

List Price £ 20,500.00

Cash Price £ (Including 36 months Road Fund License at current rate) 20,389.91

Contract Type Maintenance contract with full RAC cover.

Contract Duration 36

Miles Per Annum 30,000

Deposit £1000

First monthly payment (Including £35 Administration Fee) 1,035.00

Followed By 35 monthly payments of 567.52

Optional Final Payment (Balloon Payment) 6,450.00

Total Amount Payable 27,348.20

Credit Amount 19,488.57

APR 8.9 %

Excess Mileage pence per mile 9.2

Monthly Payment Breakdown £

Finance 468.86

Management 83.97

VAT at 17.5% 14.69

Total Monthly Payment 567.52

I got it quite a lot cheaper than that through only specifying 20K miles a year and as it was a new model out the predicted future value was much higher.

[rhaines]

thx mate, didn't realise the price would be that high, he might just have to get himself a B:censor:W then lol

[ricky_is200]

Its mainly that high because of the 30K miles a year which makes the future value very low.

[ColinBarber]

Can you get a BM for £400 a month based on 30k miles a year?

[Claire G]

I lease my IS200 Sport and although it's not the cheapest of options, it works out well for me.

Mine's through Lex Vehicle Leasing, and works out over the £400 mark including maintenance - that's only doing 14k miles a year.

Costs come down significantly if you have a deposit (I didn't) and it may be worth his while looking at the year old+ cars to lease. They're priced reasonably well and would probably come under budget.

Here's some links which may give a better idea on pricing:

www.lvl.co.uk

http://www.arrivaclick.co.uk/index.asp

www.MotorFleet.co.uk

www.smartlease.co.uk

www.fleetdrive.co.uk/Car_leasing_uk.htm

http://www.ovl.co.uk/

http://www.apexvehicles.co.uk/

[UKPulse]

Some examples - all prices per month for 36 months, with a 10k p.a. limit except as indicated.

Hawkinsfleet - IS200 S, £303

m2m Vehicle Leasing Solutions - IS200 SE, £265 (contract hire) or £299 (PCP)

Crystal Lease - IS200 S, £289

MVM Leasing - IS200 SE, £319 (Business), £379 (Personal)

SkyFleet Ltd - IS200 S, £233

Autograph Contracts - IS200 (?), £295

Carmyke Leasing Ltd - IS200 SE, £318 or £407 for 20k miles p.a. & full maint

[Loz]

Probly not an issue for your mate but if he is thinking of modding at all, Leasing is out of the question... YOu need permission to put a car kit in last time I checked...

Claire, I liked your point: "the cost come down if you have a bigger deposit" I know what you mean but the cost remains the same you simply change the date the money changes hands. IE up front not over 36 months. You will of course pay a little less interest with an bigger deposit...

sorry to nit pick...

Had visions of going in with £21k deposit and FREE PAYMENTS FOR 3 YEARS!!

:shutit:

[Claire G]

I tend to work my finances out on a monthly budget...'feels' cheaper at the time

(Can you see why I'm not minted!!!)