Quote:
Originally Posted by Alice Coupe
The thing that puts me off leasing is how easily it is to complete one lease and seamlessly get in to the next new car. Timing must be critical for vehicle delivery?
Can anyone who leases clarify how that transition works in practice?
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I'm tight so when I discovered leasing was cheaper than PCP and knowing I'd very likely return the car at the end for another I started leasing. I am a skeptic and never assumed GMFV on a PCP would be beaten.
Startiing with your question, if you keep with the same finance house they will generally very readily extend your lease if a new car is inbound. I actually extended an Audi lease for 2 months waiting for my 335 with no issues.
Returning the car was another concern of mine but they are realistic about condition and have charged less for kerbed wheels and bumper scuffs than it would have cost me to have repaired.
Returning early isn't an issue if your 6 series comes available early. Generally you pay 50% of the remaining lease payments LESS the VAT. So if you lease for £400pcm then it's only £160 per month early to hand it back. Doing the real maths and seeing a service and 2 tyres on the horizon can make a 2 month early return very atractive!
The only issue I have had is mileage. On my last car I moved offices almost as soon as I'd signed a 2 year 15,000 mile a year deal. I handed it back with under 24k. Far better to underestimate your miles but check excess miles charge. BMW (Network Leasing) want 26.5p +VAT per mile for my 335.
You also are legally obliged to be offered to buy the car at the end of the lease should you so wish, you just have to ask the price. Sometimes as they don't make an offer unless you ask. So all in all like a PCP only cheaper.
I've used several leasing brokers and the only one I have had problems with was Select Car leasing in Reading. From beginning to end they were awful with dire communication. I ended up contacting the finance Co direct to hand the car back as Select just went silent on me. However one customer does not make a statistic and others on this forum haven't had trouble with them. Bit like dealers I suppose.