Car Leasing vs Finance (PCH vs PCP) ** REAL UK EXAMPLES + FIGURES **

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Dan Latham

Dan Latham

Gün önce

YORUMLAR: 189
Dan Latham
Dan Latham 5 aylar önce
FIND THE BEST LEASE DEALS HERE - leaselo.co/itsdanlatham-lease-deals-2022
Kyle Cunniff
Kyle Cunniff Yıl önce
Great stuff, personally I’d vouch for lease over PCP unless you’re able to attain a low apr pcp deal or low apr personal loan (3-4%). I had a golf R on Pcp (8.9%)and instantly regretted it after the deal ended when I’d realised the amount of money id of saved via a 3%bank loan in the long run(I know some people don’t have the credit rating to be offered low rates)which then I’d go for lease. If I’d of chosen the personal loan way for an xtra £20 a month over 3 years (£720)I’d of walked away with £3,500 more than I did(you live and learn). Far too many people rush into a new car without researching or watching videos like this, this just puts it into prospective. Reset before you jump the gun it could save you a serious amount of money.
Tom Houle
Tom Houle Yıl önce
Really useful video thanks for taking the time to map this out. I'm moving away from having company cars for the last few years and don't really know what to do. Was looking at pcp, but actually it looks like a bank loan at 3% for a 4 year old car might be the best option for my situation. You've helped me get this straight, so thanks for that
Dan Latham
Dan Latham Yıl önce
Glad I could make it easier for you Tom. What car you thinking of getting ?
John Roberts
John Roberts Yıl önce
Super helpful video. Thorough and very clearly explained with none of the usual financial double speak that normally goes hand in hand with topics of this nature. Prior to watching this I had just assumed that my next car would be via PCP but my mind has now been opened to the attractiveness of leasing instead. Thank you for the time and effort you put into making this video :-)
Dan Latham
Dan Latham Yıl önce
Thanks for the feedback John. I just had so many comments on my previous videos telling me I was 'throwing money away' renting a car when said person usually had a long term high interest PCP. Of course there are pro's and con's of both depending on the circumstances and the car but I thought it would be good to break it down to some real world no-jargon information to help people understand easier. If you need help finding a good lease deal, I have a video on that also. Good luck on your search!
Boneshaker
Boneshaker Yıl önce
My son in law had a LR Evoque on PCP, the idea being you can use the residual equity towards your next vehicle. Not only was there no equity left but it was seriously underfunded, and was taken out using Landrovers own figures. Personally I much prefer PCH, okay it’s perhaps more money upfront, but I have no worries about future value. Just look after it as though you own it, who wants to drive around in a shit heap, and hand it back at lease end. Simple.
Steve Dennis
Steve Dennis 2 yıl önce
A very helpful and informative video - I wish that I’d had this advice to hand before I went for a PCP deal on an Audi A4 3.5 years ago! Next time I’ll be considering a lease option before a PCP. Thanks for sharing your insight.
Dan Latham
Dan Latham 2 yıl önce
Thanks for sharing Steve! I realised that I've never really seen a cost breakdown and it really helps put it into perspective. I've got a few new videos coming up about how to find the best lease deals so stay tuned. Cheers
David Simpson
David Simpson Yıl önce
Hello mate, Great video btw. When calcing the % value i notice you use the % of the inital price not the percentage of the value at the end of the contract. I know this wouldnt affect the PCH, but surely it would decimate the value of the PCP?
kalivar01
kalivar01 Yıl önce
This a great video. Really clear and useful. Hope more people get to watch it. Thanks for putting it out there.
Reginald Amoah
Reginald Amoah 11 aylar önce
Thanks really comprehensive and helpful. Definitely think lease is a better option and then put some money away so by the end of the lease you have something for the next deposit.
Sadiq Miah
Sadiq Miah Yıl önce
Great video and very informative. Just wanted to ask a question. Under a PCH after 24 month term is done, can you just give give car back and walk away? As in your not locked in to hire another car.
Dan Latham
Dan Latham Yıl önce
Yep. You can just return the car and thats the end of that. You would normally order a new car a few months before yours goes back if you want to continue to another lease.
Dan Latham
Dan Latham 2 yıl önce
Also consider that HP and bank loans are other methods of spreading the cost of a car. Both tend to be much more monthly due to a lack of balloon payment. 2:25 How They Work 4:38 Pros and Cons 10:25 Depreciation 11:50 Real examples and figures side by side
Helen Hussain
Helen Hussain Yıl önce
Very helpful video 👍 As someone who is self employed/ freelancer is it better to lease a car over financing one? Previously I've only ever purchased my vehicles outright but I am considering a lease, however I don't have the guaranteed monthly income all year round. What would you suggest?
Dan Latham
Dan Latham Yıl önce
Always live within your means - but at least with a lease you owe less and can get out sooner. On the flip side, you dont have the freedom to attempt to sell or give back the car whenever you like as with a PCP - although you will probably have negative equity for a long while. Early termination of a lease can sometimes only be 50% of remaining payments though which is not too bad.
Daniel Taylor Peter
Daniel Taylor Peter Yıl önce
I was stuck on what to do long term, you have been a great help, thank you!
johnboyginger
johnboyginger Yıl önce
Brilliant clear, thorough explanation. Hadn’t considered PCH before but am now. Thank you.
Horizon301
Horizon301 Yıl önce
@johnboyginger how much?
johnboyginger
johnboyginger Yıl önce
Follow up. Got a brilliant fully maintained pch deal, saved over £100pm over a pcp equivalent deal! Thank you.
Eee Mozley
Eee Mozley Yıl önce
If the total cost of the lease is less than the depreciation value then you are getting a good deal. So if a new car typically loses 40% of its value after two years and your total lease cost over the same period is 30% then leasing is the better option. I have leased two Seat Leon Cupras back to back over the last four years and both were fantastic deals at the time. There are some great leasing deals out there if you shop around.
Samuel Spencer
Samuel Spencer Yıl önce
Additional advice.
TRbeybifeyz
TRbeybifeyz Yıl önce
super clear explanatory video. thank you so much. great work!
Barry Mcclelland
Barry Mcclelland 3 aylar önce
Brilliant and thanks very much for explaining this complex subject.
stuart laidlaw
stuart laidlaw 9 aylar önce
Enjoyed your video, I’ve always had older cars and paid cash , your examples of 48 month deals didn’t mention about then having to get Mots , this could be expensive or do you think that in general it shouldn’t be much for a 3 year old car
Dan Latham
Dan Latham 9 aylar önce
The test is usually around £30 and I doubt anything would come up on the first one really unless you needed new tyres etc
Jay Ukel
Jay Ukel Yıl önce
Great video, would like to see more stuff like this! Do you have a spreadsheet for sale to help workout the best deals?
Pete Rawlings
Pete Rawlings Yıl önce
Excellent. Clear examples. Bear in mind that a 48 month lease deal will mean that the costs of an MOT after 36 months should be included? A key thing to highlight with any deal, lease or pcp, bank loan or credit card, is that it is a debt. It is important to consider too how comfortable one is to be in debt and by how much! I am pretty much retired, on much lower income than previously but with excellent credit score. As I have less room for manoeuvre than when working I have less “head room” should things turn turtle! This video is a good basis from which I can start to look at how best to get the next car. My rule of thumb is to look for a low mileage nearly new up to 2 years old....I have never leased but like the idea of securing a reasonable deal and changing the car every 2-3 years, as not so hooked as previously on owning outright. I also look at the 24 month 0% credit card options available to me for full purchase, and the offer of a loan via my bank at 3.5%....as as Sept 2020....so there are lots of options to think about! My own advice to myself is to be sure that I am comfortable with whatever the debt is should the unexpected occur, like a pandemic! Is there a list of leasing and pcp providers that can start me off? Thanks for this, and I hope that your own situation improves soon...
Pete Rawlings
Pete Rawlings Yıl önce
RideWithMe Thanks for this...As a personal rule of thumb when borrowing I have always sought deals that I could honour in any worst-case scenario...debt can be crippling both financially and psychologically and your clear explanation and examples are helpful in keeping things real and not becoming bamboozled by the offers. Thanks and well-done for that! At present the car market is flooded with the over-supply of cars and in my opinion buyers should consider this as a favourable position for them too. Worth haggling as there are plenty of cars to choose from!
Dan Latham
Dan Latham Yıl önce
Thanks for sharing, you make some great points - its incredibly important to be comfortable with repayments in a worst-case scenario, and buying a car 2-3 years old on PCP is a great way of eventually owning an asset that has already taken most of its depreciation hit. I have another video coming soon that shows off some great leasing comparison websites, and I'd say keep an eye out on forums such as pistonheads where there are often threads discussing good lease and PCP deals. I personally use my 0% credit card deals to pay for my car insurance (costs are still high as I am under 25). I hope you figure out the best option for you!
Emran Raja
Emran Raja Yıl önce
Excellent vlog informative and clearly shown good examples of PCH or PCP deals. I am coming end of my PCP 3 year deal with Ford and looking at Range Rover Evoque. Any leasing sites recommend as may go down PCH route this time
Dan Latham
Dan Latham Yıl önce
Thanks! I have a separate video on leasing websites. Start with leaseloco
Howard Lake
Howard Lake Yıl önce
An absolutely brilliant explanation. Possibly the best explanation, not just of the topic matter, but of anything that costs you money. I have learned a great deal from the video and have Subscribed.
Dan Latham
Dan Latham Yıl önce
Glad I could help Howard!
Ihsaan Syed-Hussain
Ihsaan Syed-Hussain 11 aylar önce
Been searching the Internet all week for a detailed comparison between PCP and Leasing. Literally the best video I have found. Thank you for the explanation!!
Dan Latham
Dan Latham 11 aylar önce
Glad I could help!
ilvtofo
ilvtofo 2 yıl önce
Very thorough video mate, thanks for the info 🙏🏼
Dan Latham
Dan Latham 2 yıl önce
No problem 👍
Mr P
Mr P Yıl önce
Thanks for the video it has helped in highlighting, to myself at least, on the differences between the two as well as the real world examples. ` PS Subscribed
parker3301
parker3301 7 gün önce
Thank you for these videos! So informative
Anthony Breach
Anthony Breach Yıl önce
Should easily be able to get around 20% off the P11D price when buying new, if not more which was not factored into the PCP calculation. If you pay the list price of the car then your doing it wrong.
Dan Latham
Dan Latham Yıl önce
Yes of course there will always be forecourt deals on new cars. Definitely something to consider. But the PCP mentioned in the video were all from either manufacturer or dealership website. The Supra one is a good example because its designed to entice short term owners.
Pinterest Express
Pinterest Express 7 aylar önce
Hi, thanks for the vid. I’m still not sure what my options are. My PCP comes to an end in a few months. I did have a new car on order, but have cancelled this as i have decided to keep my existing vehicle. The balloon payment is about £18k & the resale is around £30k. I don’t want to sell the car so what are my best options to refinance? Thanks
Laitia Wara
Laitia Wara Yıl önce
Appreciate your vid. Very important key points and sensible advise indeed.
Aquib Riazahmed
Aquib Riazahmed Yıl önce
Amazing job. Thanks for such valuable info.
MrEnglish-17
MrEnglish-17 Yıl önce
Very good video ! Also if you can get a good electric deal can save a lot on fuel as well !
Warrick Percy
Warrick Percy 2 yıl önce
This video has been extremely helpful - Thank you so much for sharing!
Dan Latham
Dan Latham 2 yıl önce
Glad it was helpful!
Amar Ashraf
Amar Ashraf 2 yıl önce
Very informative video! Completely changed my mind on leasing. What car do you have now?
Dan Latham
Dan Latham 2 yıl önce
Thanks mate glad I could help. At the moment I have a cheap car I bought outright as a temporary car to save money after a job change. Hopefully things pick up and I get to jump back in something more exciting! You'll see it appear on the channel soon.
b a
b a Aylar önce
Best video I’ve watched on financing cars. Didn’t have a clue what to do. Guess I’ll be leasing
Tendai
Tendai 2 yıl önce
Thank you so much. I think I will go for leasing. What software are you using to compare these deals ?
Dan Latham
Dan Latham 2 yıl önce
I have a whole video on the channel of where to find good lease deals - it just boils down to a lot of research online. Everything you see in this video is manually sourced data input into a spreadsheet for visual comparison. I'm glad I could help. Leasing.com is a good place to start.
Ben Atiako-Hall
Ben Atiako-Hall Yıl önce
Really helped me out bro thanks a lot 👍🏽
john davis
john davis Yıl önce
Very informative thanks. brilliant video.
Gerardo Gonzalez
Gerardo Gonzalez Yıl önce
Thanks for the video a good one, when you want a reality check not buying a car "because you like it". Any chance you can do one example with electric car deals.
Gerardo Gonzalez
Gerardo Gonzalez Yıl önce
@Dan Latham indeed thanks for the tip.
Dan Latham
Dan Latham Yıl önce
There are loads of good lease deals on electric cars nowadays, I will probably cover it at some point. Leaseloco is a great place to start.
PMac
PMac Yıl önce
Think about the total cost of onwership and make your money work for you. For instance buy a used car 2-3 years old. Take out a personal loan at around 3% apr which is 90% of the price (rest is a deposit call it) over 6 or 7 years. This will work out about £40-50 cheaper per month than a dealer pcp and the settlement figure after 3 or 4 years will be alot less than a dealer pcp ballon payment so you'll have alot more equity
Dan Latham
Dan Latham Yıl önce
Going to do another video covering this because many people will prefer to buy ex-demo or ex-lease which as you say can take away a lot of the initial depreciation hit
Damian Trejo
Damian Trejo Yıl önce
Great Vid thanks, o a lease contract say for 3 years or/ and 4 years what would be your suggestion for the good deal rule for those length lease period ,as you mentioned that for a 2 year is between 20-25% ?thanks
Barry Gasgarth
Barry Gasgarth Yıl önce
Very helpful, thanks.
A N
A N Yıl önce
Keep up great informative vids, if I would of know actual difference I might of would of leased car. Thanks
Kevin Lees
Kevin Lees Yıl önce
Great advice, thanks
IAN HOWROYD
IAN HOWROYD Yıl önce
Hi , I get my cars through a work salary sacrifice scheme ,great deals on cars 👍thats insurance for me n wife , road tax ,no deposit, tyres, breakdown 👍plus can buy it at end of term 🙏
Bob
Bob Yıl önce
I have leased for the first time taken over two years total cost £7500 on a £25880 car so the depreciation cost is a lot more than my lease cost, I didn't get a new car to save money at 68years old I got the car to enjoy it while I can still drive
Horizon301
Horizon301 Yıl önce
That’s exactly the reason so many business owners also do it. If you want a 7 series, you can either pay 70k for example and it will be worth 30k after 2 years and 20k miles, or you could lease one and only pay £16,000 for two years. Congratulations - you have saved £24,000 and you have freed up capital to use for investments. People buying cars outright are usually just wasting money away. Unless it’s used, I would always lease
Dan Latham
Dan Latham Yıl önce
@Downfall202 Yes but its not too tough if you look after your stuff. If you don't then a new car doesn't make sense. HP is fine but you have to consider that at that stage of a cars life it is likely depreciating still and also interest on the finance. I agree it is definitely down to individual circumstances at the end of the day.
Dan Latham
Dan Latham Yıl önce
Makes sense. What do you drive, Bob?
Mike Akers
Mike Akers 4 aylar önce
Really helpful, thankyou
Jas Shergill
Jas Shergill 2 yıl önce
Appreciate your vid. Thanks for the info.
LMC247
LMC247 Yıl önce
With leasing, I've found the damage charges a bit hit and miss (and tricky to navigate) as you never know how much you will be charged until they come and inspect the vehicle. I was charged £420 to repair a 2cm tear in the driver footwell carpet which had happened underneath the floormat which was provided with the car. It was over a 4 year period and over 50,000 miles but this wasn't covered by fair wear and tear.
Horizon301
Horizon301 Yıl önce
@LMC247 interesting. Best to go for VW and that’s through BCA I believe.
LMC247
LMC247 Yıl önce
@Horizon301 It was Citroen (via PSA finance), though inspected by Manheim.
Horizon301
Horizon301 Yıl önce
@LMC247 what leasing company? The best is VW Finance. They will waive costs usually if you are loyal, that pertains to curb damage though as that’s mostly all that’s ever occurred
Dan Latham
Dan Latham Yıl önce
@LMC247 Sounds like bad luck after all. There is usually some great crossover deals so I’m sure you’ll find something suitable. Leaseloco will be your best resource. Glad you’re enjoying the content!
LMC247
LMC247 Yıl önce
@Dan Latham I tried to argue that the mats they had provided clearly weren't fit for purpose if they wore through like that. I managed to get the price down by £120 (so £300) but that was it. I retrospectively spoke with some workshops and the prices were both under £100. The inspector was with Manheim, and I can't help but think that if I had taken a new lease deal with the same company rather than looking elsewhere, they would have overlooked it. Really enjoying your videos and tips on searching for the best lease deals. I've 12 months left on my 4 year term on my Leon so starting to get a bit of research done now on SUV/crossovers as babies take up loads of space...who knew.
Sabahath Khan
Sabahath Khan 9 aylar önce
Nice video mate, would you say it’s a bad time to PCP a used car right now with such high used car prices? And is leasing a better option instead.
Sabahath Khan
Sabahath Khan 9 aylar önce
Thought so, thanks for the rapid reply!
Dan Latham
Dan Latham 9 aylar önce
I would say in the current climate you’re probably best off leasing yes!
Hakim Vlogs
Hakim Vlogs 2 yıl önce
With the cupra it only works better for pcp or HP if you keep it longer than 48 months which will lower your yearly average paid
Dan Latham
Dan Latham 2 yıl önce
@Hakim Vlogs Yes exactly. I'm the sort of person (like a lot of people) who likes to change cars every few years - so unless I buy a car outright and take the depreciation hit, or buy a rare car that holds its value, lease tends to be a cheaper way of getting into a nicer car.
Hakim Vlogs
Hakim Vlogs 2 yıl önce
You said what I said about the Volvo lol.. yeah with any car aslong as you keep it long enough it’s worth it more
Chris
Chris 7 aylar önce
Thanks for the info - I'd never thought about a PCH until now. I'm looking to get a petrol Range Rover Evoque 2019 or above. I'd like to give it back in 3 years and go for something electric/hybrid. The used cost is about 40-45k. What would you suggest, PCH or PCP? I can't find many lease deals, but may be due to the shortage of new LR cars due to chips. Would you suggest PCH in this instance? I had planned on putting down a big deposit on PCP (10-15k) but wonder if I could save money going a different route.
Chris
Chris 7 aylar önce
@Dan Latham thanks for the reply mate, appreciate you sharing your thoughts.
Dan Latham
Dan Latham 7 aylar önce
As you say theres not much in the way of lease deals on a car like that at the moment, but anything from JLR will probably depreciate like a stone in 3 years on a PCP so that’s something to watch out for if you’re looking to go electric soon, because electric will be a big investment too. Often with leasing its more about seeing what good deals are available rather than chasing a specific model of car. I have a video on where to find the best deals and I would start with comparison site leaseloco. If it really is an evoque you want then PCP might be the best bet but just consider other options before sinking that kind of money in!
Tony Shergold
Tony Shergold Yıl önce
You've forgotten that new cars purchased on a PCP at a dealer can have a substantial discount negotiated on top of any manufacture deposit subsidy, making the price paid substantially less than the P11D price that you quote. So you're not comparing like with like! Don't get me wrong, Leasing is a great way to get a new car but it's not quite as much cheaper as you suggest, and there are a few pitfalls to leasing to think about as well: 1. It's quite difficult to time the old car collection and new one arriving, so means going without a car for a while or having two (making insurance difficult). 2: Be very wary when car is collected, phantom body damage can appear on your charges, make sure you take lots of photos. 3: New cars can get delayed so change-over times can be longer than you anticipate. 4: If you have a warranty problem dealers are not quite so quick on rectification, in theory they should but they're not!
Dan Latham
Dan Latham Yıl önce
@Downfall202 as Tony says, its not any more hassle than any other car. I have paid minimal fees at the end of lease (such as £40 for a dent that would have cost me more to get repaired). And of course, you have insurance (and possibly GAP insurance) to cover the car regardless of how you are paying for it.
Tony Shergold
Tony Shergold Yıl önce
@Downfall202 Damaging a leased car is no more hassle than damaging a hire car really, leasing companies have a code of conduct and there is a set protocol for ware and tear etc. all laid out when you sign the lease. Just take pictures when they collect the car that's all, and everything is fine. You're really just covering yourself between the driver collecting it and delivering it to the compound
Tony Shergold
Tony Shergold Yıl önce
@Dan Latham I leased the Corsa 1.2 Turbo Elite Nav Premium Auto (what a mouthfull!) in June last year, it's currently £188 on a 3 x 47 deal on What Car leasing with £145 admin, but the manual is a fair bit cheaper! You'll need the Premium to get Sat Nav and the 10" Screen. It's a nice car to drive and it's quiet and quick, but perhaps a little boring to look at, although it's very well equipped with front and rear sensors, reversing camera, LED Headlights, keyless entry and fancy alloys as standard. A nice touch is a repeat sat nav screen with the speedo, although graphics are a bit naff! Downsides are, rear accommodation is tight and the boot's a bit small with a high lip, plus the stop/start can be a bit aggressive, when it works! But all in all it's great value on a lease.
Dan Latham
Dan Latham Yıl önce
@Tony Shergold looking at a new corsa from my mum. Her 4 year lease on her 108 TOP is up and want to get her into something that has a turbo!
Tony Shergold
Tony Shergold Yıl önce
@Dan Latham I've leased cars for years and my list is just my experience. Another thing I've noticed is that deals can come and go quite fast where manufactures want to offload stock quickly, so as long as you're not too fussy on colour or spec there are great bargains to to had.... My latest one is the new Vauxhall Corsa Auto, they're quite a bargain as it's a Peugeot 208 underneath! Just beware of the spec it's really complex, I'm sure it's just designed to trip people up!!
Estherests _
Estherests _ Yıl önce
Great video 👏🏽
David Hehir
David Hehir Yıl önce
I'm considering a long lease on an electric vehicle as I really don't want to own batteries that are several years old I usually buy second hand cars
Dan Latham
Dan Latham Yıl önce
A very good point - I think this will encourage a lot of new customers to try leasing going forward as electric cars become more mainstream.
PabloSwim
PabloSwim Yıl önce
Very good. New sub. Best video on this subject I have seen. Thx
Kayla
Kayla Yıl önce
Thanks so much for this information.
MrKevz19
MrKevz19 Yıl önce
Great video thanks
T®ademark
T®ademark Yıl önce
Has anyone checked the current prices?
Lee Hobbs
Lee Hobbs Yıl önce
When youre paying so much Intrest on the total cost including the balloon payment and are limited in mileage...I just don't get why anyone would choose pcp. Its a good way to get yourself in bad debt
Dan Latham
Dan Latham Yıl önce
The interest rate is appalling on some of those ‘deals’ too !
DGM
DGM Yıl önce
Why are people so against car leasing? People i have spoken to always speak against it, they seem stuck on the fact that you dont own the car but the way i see it even on finance you dont own in it either 🤷🏽‍♀️
Dan Latham
Dan Latham Yıl önce
Exactly. I wanted to compare the costs side by side to show people that in fact, the 'throwing money away' thing could actually in fact effect someone in a PCP finance contract worse than leasing in many cases.
Ben Carpanini
Ben Carpanini 8 aylar önce
Volvo S90 now has £57k starting price!
New Den Lions
New Den Lions Yıl önce
When you come to the end of the lease and take out another one do you have to pay the 6 months deposit again
Dan Latham
Dan Latham Yıl önce
Yes. Your initial deposit is a combination of several rentals. You dont have to pay 6 months though. You can normally choose between 1, 3, 6 and 12.
Skeng in my blazer
Skeng in my blazer 10 aylar önce
What would you recommend for a new driver, looking at the new a class
Dan Latham
Dan Latham 10 aylar önce
@Skeng in my blazer good luck with the decision. Used car prices are at a high at the moment, so it’s probably a bad time to be buying on PCP. If I wanted a flash Mercedes I would be leasing for now I think.
Skeng in my blazer
Skeng in my blazer 10 aylar önce
@Dan Latham yeah the depreciation is the biggest put off when it comes to PCP, thanks for the advice and great video!
Dan Latham
Dan Latham 10 aylar önce
Honestly first car should really be something older that you dont mind having a few scrapes in. Things can get real complicated on a lease or PCP if you start getting knocks and dings! Just be careful that you can afford it and that its the right thing to do rather than saving the money. Its easy to rush into a deal wanting to have the best car amongst your mates because thats what I did 😂 Lease is much easier at the end, and you probably have cheaper payments, but its like renting, so you wont see any money back. PCP can really hit you with depreciation though.
S7VEN TUDE
S7VEN TUDE Yıl önce
Subscribed cheers great video
Zlatan Morrison
Zlatan Morrison Yıl önce
Cars cost money, until that is no longer the case there is no real 'winning' unless you buy cheaply secondhand and run it into the ground (ie: ensure that the vast majority of your ownership is without finance payments). That is the only real way, but people no longer want to run old cars, and to an extent I do not blame them. But there is a very enthusiastic 'shedding' mentality out there. Financing a depreciating asset is not a sensible thing to do if you want to save money. They are, to a lot of people, a necessary evil. The people that really make me smile are the ones that bitch about how much tax they pay on their company cars....not realizing what a ridiculously brilliant perk it still is even now. As they have had company provided cars for so long they have totally forgotten the true total costs of personal ownership.
Dan Latham
Dan Latham Yıl önce
@Zlatan Morrison Very good points. It definitely becomes easier as you get older (at least here in the UK) for insurance reasons. For example I'm approaching 25 now so I can afford to insure older cars that are larger or more luxurious with those extra features.
Zlatan Morrison
Zlatan Morrison Yıl önce
@Dan Latham You forgot another excellent benefit of 'shedding' you do not need to give a crap about the shed and it is SO liberating:) Whereas a lease or PCP you actually need to wash and take care of and make sure there are no dents or scrapes (lest you incur potentially significant charges upon return of said vehicle). I have recently scrapped my 'shed' and even considering some repairs/wear & tear items I have saved a fortune over the previous 6 years (and this is on a car with high VED and low mpg). And if you buy your shed wisely it does not need to feel like 'shed' motoring. Mine had electric heated leather seats/electric windows all round/electric sunroof/2.4 petrol engine(Honda and it was fantastic) / sat nav / good stereo / rode well and solid performance. An excellent all rounder.
Dan Latham
Dan Latham Yıl önce
I have recently run a 'shed' for a year, and the cost comparison is interesting. Whilst I had no monthly bill, I did have to pay out for tax, and repairs and maintenance which was sometimes more costly than a lease payment. However I still spent less over the same term and of course the car (being cheap already) did not depreciate - so yes it was definitely cheaper but there is the caveat of unexpected costs vs a regular monthly payment of a fully maintained in warranty car that some people seem to prefer.
CK 888
CK 888 Yıl önce
As an ex car dealer many years back, I wonder why people will pay up to £250- £1000 monthly on a depreciating liability just to appear rich to people who don’t really care about you. Banganomic is the way to financial freedom, I love my 2006 e86, i bought it cash, it leaves me with a lot of cash to spend on mortgage overpayment, use my ISA allowance and I have a good cash flow. I don’t mind appearing poor, those youngsters who can get on the property ladder, owe student loan and then buy a car on finance are the Morden day slaves to debt. Sorry I don’t mean to piss on anybody’s strawberries, just my take on the topic.
JrH
JrH Yıl önce
What if I wanted to finance a car that’s a 15 plate? Surely it won’t depreciate in value that much?
Dan Latham
Dan Latham Yıl önce
Of course a vehicle of this age will have depreciated a lot already - so you're not taking quite as much of a financial hit. Again, it really depends on the vehicle and the circumstance.
Theodore Nelson
Theodore Nelson Yıl önce
Hi Are the cost of the lease fully tax deductible as a full time buy to let landlord
Tesla Trev
Tesla Trev 9 aylar önce
Don't lease from L EX autolease when they collect the car they will charge for non existent damage
Neil  at stoke koi
Neil at stoke koi Yıl önce
Hi I presently have a car on pcp of which is coming to an end after 3years. My thoughts of having the car was to change every three years. But cars have gone up in price to buy new. So do I go to buying a 3 year old car that’s bigger or lease.
Dan Latham
Dan Latham Yıl önce
That really depends on the car you want and the deals that are out there. Its certainly a dilemma - one I touched on a lot in the video. It will take a lot of research to figure out what the best option is for you. To get started looking at leases, start on leaseloco
CSK
CSK Yıl önce
Buy used but from a better make. Bought a Lexus 450h F Sport for the price of a new VW Golf or Ford.. better built car at half the original price and with a better spec. Makes sense just spend the savings on a extended warranty and service plan. Done. Lesser depreciation and no tyre kicker at the end of a lease.
Dan Latham
Dan Latham Yıl önce
Depends on the car. For me, I hate driving lexus hybrids because of the CVT gearboxes they insist on having. Its not a petrolheads car. However, its going to be incredibly reliable and is a really nice car in comparison to a new golf or focus like you say. I did mention that used is another option, I might do another video focused on that as a comparison! Enjoy the Lexus!
stephen richards
stephen richards Yıl önce
great stuff
Frank Williams
Frank Williams 3 aylar önce
I’m looking for an Audi A6 or an equivalent Tesla. Can you help me find a good deal?
Dan Latham
Dan Latham 3 aylar önce
Use my leaseloco link leaselo.co/itsdanlatham-lease-deals-2022 to find the best deals on the market - put the vehicle in that you want and look for the highest scoring deal! Unfortunately the lease market is tough at the moment, so those specific cars probably won't have anything too exciting in terms of deals, but you can certainly beat dealer pricing by a fair bit usually.
Jordan Thorne
Jordan Thorne 2 yıl önce
Was hoping to see some funny bike content on here I run out on tik tok😂
Max Pickard
Max Pickard Yıl önce
I’ve found some deals off the back of this video. Can I send them to you privately and ask a couple of questions please? Thanks
Dan Latham
Dan Latham Yıl önce
Sure, DM me on instagram @ridewithme_rwm
mervin c
mervin c Yıl önce
Why do I not get the supra ‘total cost during term’ total to match when I add them up what am I doing wrong? Please help
Dan Latham
Dan Latham Yıl önce
I think the figures were lifted straight from the websites, so they may include some other charges etc.
Paul Daniels
Paul Daniels Yıl önce
Is it better to lease the VW golf gtd or finance it,any help would be greatly appreciated, thanks.
Horizon301
Horizon301 Yıl önce
Depends on the price. From what I understand, financing is a scam 90% of the time and every lease gives you the option to purchase the car at the end anyway so take the smaller deposit and monthly payments and lease.
Usman G
Usman G 2 yıl önce
where did you find the cupra lease deal from ?
Dan Latham
Dan Latham 2 yıl önce
It was a deal through Seat themselves at the time, specifically IMG Seat Warrington that expired a long time ago. Theres still a few decent deals on now even though the car is end of life - see my video on finding lease deals, or head to leasing.com for an easy tool to find the cheapest.
Brian Webster
Brian Webster Yıl önce
I worry my credit score wouldn't be good enough for leasing
Mc Frosty
Mc Frosty Yıl önce
I got my Audi A3 on finance when I was 19 with zero credit history, credit scores are only a rough guide. Different lenders will look at different aspects of your credit history and see if it's all suitable for their criteria
Dan Latham
Dan Latham Yıl önce
I suppose the same goes for any finance or credit agreement. It might be worth seeking advice on it before applying as they will do a hard credit search. I've been fine on all my applications but I have pretty good credit. My first was when I was 19 and I had previously had a cheap car on finance but that was my only real credit history.
Lava Yuki
Lava Yuki Yıl önce
I bought an old Toyota Yaris 4 years ago but it's already 7 years old now and is pretty banged up. So I've been looking for a new car, like a mercedes and considering PCP or PCH to get a nice car without a big loan. I always wondered what happens if the car is stolen or broke into? My crappy Toyota got broken into once in a car park
Dan Latham
Dan Latham Yıl önce
Thats what your car insurance is for! Theres also GAP insurance, which covers the difference between the insurance payout and the finance remaining if the car is a total loss.
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