Help - Ive been asked to choose either lease or ?

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Thu 11 Oct 2007 18:03
Help - Ive been asked to choose either lease or ? - UkGuy

HELP

My sister is about to start a new job and she has been told to eirher private lease as an option or given to accept a company car

Does anone know the best 5 things to look for in either deal?

She does 15k miles per year and can deposit £2k as a down payment

I had a quick look at the LEX leasing site and mileage seems to be the requisite that affects lease costs

What are the downsides of this option?

(typical isnt it when your little sis asks big brother the only question he cant answer)

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Thu 11 Oct 2007 18:53
Help - Ive been asked to choose either lease or ? - gmac
It depends what the options on the company scheme are and if she can live with the choices available.
I would go for the company car as they then deal with any problems.
Personal lease you have the chasing to do and haggling at the end because someone has put a dent in the door at the supermarket.
What happens if half way through the lease the company decide to move her base office and her mileage shoots up ? With personal lease she will be left having to renegotiate with the leasing co. whereas with a co. car it's down to the co. to deal with.
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Thu 11 Oct 2007 19:03
Help - Ive been asked to choose either lease or ? - Mapmaker
And what happens if she loses her job?

If she leases, she ends up unemployed with a lease she doesn't want or need but has to pay.

If company leases, their problem.

It's all very well to be all rosy about a new job, but things can go wrong.
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Thu 11 Oct 2007 19:05
Help - Ive been asked to choose either lease or ? - ForumNeedsModerating
Second what gmac says, the "sister is about to start a new job" tells me that any sort of private arrangement your sister comes to will be her responsibility in the unfortunate circumstance of the job not working out for some reason - what then with the car?

Not knowing any more detail than you provide, direct lists of pros & cons are difficult. However, most company cars offer a straightforward tie-in to the job & are taxed via BIK transparently - simplicity & lack of responsibility for the vehicle in extremis would guide my decision to the CC option.
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Thu 11 Oct 2007 19:30
Help - Ive been asked to choose either lease or ? - Bill Payer
www.cashorcar.co.uk/ will do the sums but she needs to fully understand the offer that she's been made. There really aren't any black and white answers and it's no good trying to make a decision if some vital part of the information is missing.

Even if the personal lease option looks like it will cost less, there's a peace of mind benefit in having a company that is worth (in my opinion) a good £100/mth. The downside of personal lease is that she'll have to pay if a headlight smashes or someone dents a door in a car park. Depending on her job she might have to leave the car in some dodgy places. She'll also have to hire a replacement if anything happens to it.

You can insure against changing circumstances (even resignation) but it adds to the cost.

Edited by Bill Payer on 11/10/2007 at 19:33

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Thu 11 Oct 2007 20:59
Help - Ive been asked to choose either lease or ? - nick1975
presumably she gets cash if she doesn't take the company car

what about she buys something for the £2k mentioned and pockets the cash?
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Thu 11 Oct 2007 21:54
Help - Ive been asked to choose either lease or ? - local yokel
"what about she buys something for the £2k mentioned and pockets the cash?"

Most schemes have a minimum age for the car - four years is common, so she may not be able to go down that route. She could however use it as a downpayment on an HP deal, and keep up the monthly payments using some of the cash-in-lieu of the car payments.
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Fri 12 Oct 2007 17:09
Help - Ive been asked to choose either lease or ? - DrS
Quite often, companies deal with just one provider, and they rarely get the best deal.
I opted out of the company car scheme, took the money, and leased a CLK for the same kind of money which the other guys were getting Peugeot 307's and suchlike.
Subsequently got rid of the Merc, got a 3 year old Laguna with leather and all the mallarkey, and it's fine. The Renault will pay for itself if it manages to hold itself together for 12 months!


Yeah, I know!
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