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 Posted: Fri Aug 09, 2013 5:16 pm |
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Joined: Dec 19, 2012
Posts: 365
Trade Rating: 0
Location: Sussex
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Any opinions on this for those of you who know about it?
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Posted: Fri Aug 09, 2013 5:40 pm |
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Joined: May 29, 2013
Posts: 83
Trade Rating: 0
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All seems reasonable but when I went in to check it out there were a few downsides for my personal circumstances:
Low mileage limit - the low payment requires you to have an 8k limit I believe (not a problem for most but as our main car it would have been a bit tight)
Hefty deposit - this may have just been for me but I believe they wanted something in the region of £3000 (cant remember properly now) But I didnt have that.
If you are the right age (25+) and the above aren't a problem, then I believe 4 years free tax, insurance and servicing are a very good offer!
Ps - If I stnad to be corrected by more recent knowledge from another forum user - I may be back down to peugeot to look at this in more detail!
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Posted: Sat Aug 10, 2013 5:01 am |
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Joined: Jan 21, 2012
Posts: 345
Trade Rating: +2
Location: Earl Shilton UK
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Think they dropped the deposit requirements down now, not sure to how much.
There is still a milage limit, 8000.
Believe the age limit is 21 now, with 3 years free tax, insurance and servicing.
Was looking in to getting a new 208, £180/Month.
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| Cherry Red 206 1.1 99'
Wanted List;
Crystal Headlights.
PM Me if you are selling! | |
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Posted: Sat Aug 10, 2013 5:07 am |
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Joined: Feb 07, 2010
Posts: 2025
Trade Rating: +6
Location: Gloucester
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I'd never do anything where you don't actually own the car.
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Posted: Sat Aug 10, 2013 5:48 am |
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Joined: Jan 29, 2011
Posts: 6526
Trade Rating: +10
Location: Westhoughton, Lancashire
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It's dead money. Pay Peugeot £13000 to drive a car for 3 years, and then give it them back, or alternatively pay another £7000 to keep it, which works out paying £21000 for a £16000 car
It's cheaper to go to the bank and ask for a loan, at least you'll have something to show for it at the end of 3 years and if it is worth £7000, which I highly doubt, you have a good trade in if you want to change models.
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Posted: Sat Aug 10, 2013 6:02 am |
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Joined: Nov 27, 2010
Posts: 11520
Trade Rating: +10
Location: What's it to you? ? ?
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Leasing a car isn't really a good idea for the man in the street.
For a business leasing is fine, for Joe Bloggs you might as well set fire to the money instead.
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| Toyota C-HR GR Sport 2.0 Hybrid with JBL & Alcantara packs. | |
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Posted: Sat Aug 10, 2013 6:17 am |
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Joined: May 29, 2013
Posts: 83
Trade Rating: 0
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Knew there was another downside to it! The lease bit confused me - they said I would have my name on the v5 but peugeot would have it back at the end - madness! Was a bit weird that the owner isn't allowed to do anything to the car - when looking at a 107, lots would need to be done to the car to make it look a bit less like a pushchair!
Went down the road to look at a dacia sandero - 130 a month for 4 years to own it (dodge car ino, but cheap motoring)
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Posted: Sat Aug 10, 2013 6:32 am |
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Joined: Nov 27, 2010
Posts: 11520
Trade Rating: +10
Location: What's it to you? ? ?
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Best thing to do if your not in a hurry to change car is save your money & wait for a 0% finance offer or other good deal.
When sales are slow or a model is about to be replaced, manufacturers & dealers can come up with very good package offers to get you in the showroom.
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| Toyota C-HR GR Sport 2.0 Hybrid with JBL & Alcantara packs. | |
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Posted: Sat Aug 10, 2013 7:41 am |
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Joined: Dec 19, 2012
Posts: 365
Trade Rating: 0
Location: Sussex
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i suppose then its only for abit of showing off if your driving a rust bucket one day, then turn up in a brand new one the next but in reality the deal isn't that great, so I think ill agree with that 0% finance would be better in the long run
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Posted: Sat Aug 10, 2013 8:51 am |
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Joined: Feb 07, 2010
Posts: 2025
Trade Rating: +6
Location: Gloucester
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Vauxhall do 0% finance iirc if you like them.
I would never recommend finance for a luxury tbh, I couldn't imagine keeping a car for 4/5 years.
Majority of the just add fuel ones are 1.0 engines too, if you have a gti I'm pretty sure the power of it would get boring very quickly and overpower the hey i'm driving a new car factor, which is lost immediately anyway as it isn't actually yours. 
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Posted: Sat Aug 10, 2013 9:24 am |
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Joined: Feb 08, 2010
Posts: 5400
Trade Rating: +105
Location: Stafford
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| 2Oh!6 wrote: |
| I'd never do anything where you don't actually own the car. |
This 
I only buy what I can afford, renting a car until you can pay it off and then finally own it really doesn't appeal to me.
Houses on the other hand...
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Posted: Sat Aug 10, 2013 9:50 am |
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Joined: Nov 27, 2010
Posts: 11520
Trade Rating: +10
Location: What's it to you? ? ?
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| 2Oh!6 wrote: |
Vauxhall do 0% finance iirc if you like them.
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Vauxhall lifetime warranty is also a good offer as well.
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| Toyota C-HR GR Sport 2.0 Hybrid with JBL & Alcantara packs. | |
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Posted: Sat Aug 10, 2013 9:59 am |
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Joined: May 25, 2011
Posts: 1025
Trade Rating: +1
Location: south coast
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We looked into for my daughter and as has been said above its really not that good a deal when you go right into it all.
if you know anybody who works for bmw or Rolls royce then they do very good lease deals for workers + friends and famley. My son works for RR and got his sister a brand new mini cooper derv on a 8 mth lease all she has to do is add fuel for 224 per mth.
no deposit cost or anything upfront then at the end of the lease just hand back with no bills also with there deals its on the miles you do, its limited to 8k so if you think you will do that in 6 mths then you can do 6 mth deal or up to 9 mth its what suits you best.
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Posted: Sat Aug 10, 2013 5:10 pm |
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Joined: Apr 25, 2013
Posts: 9
Trade Rating: 0
Location: Ipswich.
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Hi All,
what I would be nervous about where I live is dents and scratches. They do an inspection when it is handed back and you get charged for body damage. Round where I live because it is shiny and new the kids would have a go at it. So I wouldn't want to risk it.
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| Peugeot 206 2.0 SW D Turbo Hdi | |
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Posted: Sun Aug 11, 2013 3:02 am |
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Joined: Feb 08, 2010
Posts: 7045
Trade Rating: +5
Location: In the garage
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I don't like these rental deals they basically cover the depreciation of the car and give the dealer something to sell afterwards. Gives their workshops something to do as well. The deposit plus monthly payments and 3 years later every penny and the car has gone. Move onto the next car with the same payments and you'll only ever be driving the same sort of car forever.
Much better to get a 2 year old car with a bank loan (or similar). You pay off the loan at a faster rate than the car depreciates. After 3 years you still have equity in the car. Move to the next car and a new loan and keep your payments the same but this time you have a decent head start with the equity from the old car. You can keep moving up the ladder that way. So in the end you end up with a better car.
Of course its not a new car but where's the problem with 2 year old cars these days? I'd much rather have something decently proportioned rather than a flawed BMW 1 Series like a lot of people go for.
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| 2001 GTi 138, Bilstein Sprint dampers, H&R springs, 21mm Peugeot Sport torsion bars, 22mm rear ARB, Peugeot Sport Group A wishbones, 283mm discs, Goodridge stainless hoses, Maniflow 304 grade 4-2-1 2.5" manifold and system, 200 cell cat, Richard Longman head, 45mm Jenvey throttle bodies, 9.5mm TB spacers, 90mm air horns, Jenvey throttle linkage, Jenvey fuel rail, Aeromotive and Goodridge fuel fittings and braided hose, ITG sausage filter, Radtec custom radiator, Piper Ultimate Road cams, Piper vernier pulleys, Omex 600 ECU. Saxo electric PAS pump, Vibra Technics engine mounts. Samco coolant hoses, TTV steel flywheel, 4.76 final drive ratio, 307 CC 180 ratios. 2019 BMW 530i. 2017 Mercedes C300 convertible. | |
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