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Home > General > Best way to purchase? Contract Hire? |
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rrsboy Member Since: 06 Jan 2009 Location: UK Posts: 1391 |
the other slight benefit of cash is liquidity - you can dump it at a moments notice rather than with 1 month (or more)
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Tue Oct 09 2012 1:29pm |
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x5pea Member Since: 03 May 2007 Location: Lanarkshire Posts: 2097 |
Im not having a pop, we are debading the pros and cons. Im sorry but irespective of how you justify it paying 41.5k to a leasing company over 3 years for a 53k car with a few services and some tyres is mental IMO. |
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Tue Oct 09 2012 1:39pm |
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x5pea Member Since: 03 May 2007 Location: Lanarkshire Posts: 2097 |
Your comparing two completely different models.... If i lost 10k in 12 months on a 3 year old RRS i think id be buying a focus instead,. |
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Tue Oct 09 2012 1:41pm |
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Ady 555 Site Moderator Member Since: 12 Dec 2010 Location: Good old yorkshire Posts: 8738 |
^^^ RS focus at that one of the lowest depreciating motors at the moment. |
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Tue Oct 09 2012 1:50pm |
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gavink Member Since: 07 Oct 2012 Location: UK Posts: 10 |
LOL ok, so if I bought this for example, http://www.autotrader.co.uk/classified/adv...?logcode=p
325d m sport coupe looking to change to RRS |
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Tue Oct 09 2012 1:53pm |
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muddywheels Milk Float Man Member Since: 30 Jun 2010 Location: East Riding of Yorkshire Posts: 5637 |
You could use this http://www.whatcar.com/car-depreciation-calculator/ has a guide or look at autotrader for prices a year older
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Tue Oct 09 2012 2:04pm |
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Ady 555 Site Moderator Member Since: 12 Dec 2010 Location: Good old yorkshire Posts: 8738 |
Pea will be sifting through his little black book as we type
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Tue Oct 09 2012 2:07pm |
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drdelrrs Member Since: 02 Nov 2010 Location: UK Posts: 1163 |
Just remember with any contract hire the vehicle is never yours so you must maintain and keep it in good condition and to factory specs. No changing wheels or any other modification etc.
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Tue Oct 09 2012 2:39pm |
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RRSTDV8 Member Since: 12 Aug 2011 Location: Northamptonshire Posts: 8987 |
D4 HSE loses c.£4k in the first year, RRS HSE loses c.£11k in the same year! 2012 SDV6 - it's missing a couple of cylinders 2008 TDV8 - it was a labour of love and is much missed |
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Tue Oct 09 2012 3:21pm |
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rrsboy Member Since: 06 Jan 2009 Location: UK Posts: 1391 |
really?!? ============ 2010 TDV8 HSE - ooo laa laaaaaaaaa 2007 TDV8 HSE - superb car and very reliable ============ 2012 - dearly departed, sadly missed.. to return in late 2013 with a new TDV8! |
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Tue Oct 09 2012 6:20pm |
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ChrisP Member Since: 26 Jan 2008 Location: Derbyshire Dales Posts: 1392 |
Whichever way the car is financed there is very little difference in total costs incurred whether it goes to a CH company or lost at the rate of £1K/month in depreciation either way after 3 years and 60K miles and the VAT youre left with nothing to show.
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Tue Oct 09 2012 8:19pm |
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rrsboy Member Since: 06 Jan 2009 Location: UK Posts: 1391 |
but if x5pea's numbers are correct, then what you say isn't right?
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Tue Oct 09 2012 8:25pm |
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pjb Member Since: 04 Mar 2008 Location: Sunny Oxon Posts: 213 |
I think the biggest reason many use CH as we do is we do not have to take the risk on residuals when getting cars for our staff. Vans we buy as we run 6 or 7 years dependant upon mileage & have serviced at an independant so costs are lower & CH companies discount residuals on vans to next to nothing. We use Lex they get much bigger discounts than I can ever get as a company buying 18 cars, they get cash cheaper & get bigger discounts on servicing & tyres than I can ever get. Yes they make a management charge & get rebates from suppliers, but get a few quotes & then negotiate on the lowest one then go back to your preferred & try & do the same deal. As for the point above yes agree 100% that you can get ripped off if not astute. The BVRLA guide is very clear, I spend between £200 & £400 per vehicle having the car prepped, alloys filled & sprayed & scratches either polished out (often using coloured polish) or filled & sprayed with a body shop & we never get any recharges. Leasing companies use the recharge route as a profit centre if people are stupid enough to send vehicles back without ensuring they are in an acceptable condition ! Paul L405 Loire Blue Swift Conqueror 645 Abarth 500c |
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Wed Oct 10 2012 6:33am |
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ChrisP Member Since: 26 Jan 2008 Location: Derbyshire Dales Posts: 1392 |
But unless you pay cash out of taxed income the £53K car costs considerably more including finance charges of say £5K so about £58K if it ends up worth £35 K that's a drop of £23K so about £640/month just in depreciation. At a residual of only £25K for a high miler like mine that increases to £916/month! I'm sure somebody far more knowledgeable than me can do a comparison with some real figures on outright purchase vs CH. Very few large companies buy cars now they are all of balance sheet on CH are they all "mental" too ? MY2011 HSE Santorini/Ivory/Piano Black/Privacy Glass/TV .Sadly gone. Audi A5 Sportback Black Edition 3.0 tdi quattro S Line |
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Wed Oct 10 2012 7:04am |
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