Lease vs Buy

[TAYC4N]

Can highly recommend Metro. Simple to deal with, direct contact, no paperwork and all approved in 24 hours. 2.11% with £150 fee. Can be over whatever term you want. Lloyds were unfortunately much more difficult to deal with even though they had a better rate.

Would you mind sharing the numbers with me - PM is fine, thanks

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[awharton]

If the car value is more than £125k Lloyd’s want quite a bit of info, below that I think it’s straight forward

Mine was £110k. It wasn’t straightforward at all. They wanted all sorts of details - especially for the period around COVID etc. Obviously depends on your business. Just found Metro Bank easier overall in my case. Was happy to pay the additional % for less hassle.

 

[awharton]

Would you mind sharing the numbers with me - PM is fine, thanks

PM’d

 

[Lfcdan]

Mine was £110k. It wasn’t straightforward at all. They wanted all sorts of details - especially for the period around COVID etc. Obviously depends on your business. Just found Metro Bank easier overall in my case. Was happy to pay the additional % for less hassle.

When is yours arriving Pal? And is it straightforward to get them to speak with your dealer?

buying a car at the moment is like waiting for your wife to go into labour

 

[awharton]

When is yours arriving Pal? And is it straightforward to get them to speak with your dealer?

buying a car at the moment is like waiting for your wife to go into labour

Collecting mine on Friday. Very easy to get them to speak to the dealer. Just gave them the details and they contacted them directly.

 

[Lfcdan]

That’s great to hear mate, you should have some fun this weekend

I’m still undecided which route to go down

 

[awharton]

That’s great to hear mate, you should have some fun this weekend

I’m still undecided which route to go down

I was in the same position. Normally just buy outright - but with rates so low it seems a no brainer.

 

[Lfcdan]

I had a 3yr plan
either lease or PCP then get another car at the end
But the PCP has so much interest that HP is poss a better way to go

Leasing a car with almost £20k in options seems criminal
Although it does work out a lot cheaper than PCP

 

[Gogs]

I had a 3yr plan
either lease or PCP then get another car at the end
But the PCP has so much interest that HP is poss a better way to go

Leasing a car with almost £20k in options seems criminal
Although it does work out a lot cheaper than PCP

Yip, with HP the £70k of borrowing costs me £7k over the term. I’m sure with the £70k in my bank I’ll make more than 7k. Cheap as chips to borrow right now.

 

[Kilsoj]

Would anyone who went down the bank route mind pming me the figures please?
Was considering pcp route and offset interest etc - but sounds like this would be a better option

 

[TAYC4N]

I looked in to this - it's probably cheaper but the outgoings per month are much higher this way. Depends on your business cash flow. Payments are up to 3 times that on PCP.

 

[awharton]

I looked in to this - it's probably cheaper but the outgoings per month are much higher this way. Depends on your business cash flow. Payments are up to 3 times that on PCP.

Yes. It’s HP so you pay back the full amount during the lifetime of the finance.

 

[Lfcdan]

Yip, with HP the £70k of borrowing costs me £7k over the term. I’m sure with the £70k in my bank I’ll make more than 7k. Cheap as chips to borrow right now.

Hi Pal
can you please confirm if the OLEV grant was discounted off the invoice to the finance company?

as with everything else during this whole Taycan process I’m anticipating Porsche and the finance company saying it cant be done

ps
had an email from my dealership about 2hrs ago to say they have located my car and its still in Germany, was told it was on the boat last weekend!

 

[awharton]

Hi Pal
can you please confirm if the OLEV grant was discounted off the invoice to the finance company?

as with everything else during this whole Taycan process I’m anticipating Porsche and the finance company saying it cant be done

ps
had an email from my dealership about 2hrs ago to say they have located my car and its still in Germany, was told it was on the boat last weekend!

OLEV grant has been taken off mine. Was sorted out between the finance company and the dealer.

 

[Lfcdan]

OLEV grant has been taken off mine. Was sorted out between the finance company and the dealer.

Cheers mate

I’m just anticipating challenges as nothing seems simple

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