Lease deals / affinity

[anotherv60]

Hi All,

I'm still thinking about changing my car in the next few months and I've seen some very interesting Volvo lease deals in the last week, especially on the S90, although not my top choice for my next Volvo, the deals make it seem like a very good proposition.

However, having never leased a vehicle before I'm a little reticent - what is the experience of handing the car back at the end? How does it affect insurance etc if you do not own the vehicle. are you required to take out additional insurance - e.g. bodywork chips etc...

Secondly, I have seen the example offers on the volvo cars uk website when financing a V90CC through Volvo PCP this includes a "dealer contribution" of around £3000 depending upon trim, has anyone who has ordered through the affinity scheme managed to get this offer in addition to the affinity discount? That would make it incredibly appealing to go down that route in my opinion.

thanks,

AnotherV60

[DAN AT ADRIAN FLUX]

Hi,
If you need any help with insurance at all then please feel free to drop me a line.
Regards,
Dan.

[green van man]

No direct experience of lease deals, just family.

Beware the milage limit. Have had family whom agreed a milage limit and when things changed were faced with parking the car up and using alternate transport or a 13p per mile surcharge which would of been very expensive.

Some deals come with insurance included, some not. As to the chips and scraps, it seems it all comes out of the final bill when you hand it back, if you are taking another car then I suspect much gets overlooked.

Paul.

[kenny]

The sales sharks will tell you what ever you want to hear. When we bought my wife's mini we found that if we went in to a dealer and asked about a lease we were told they were the best way to get a new car but if we went in to the next dealer and said we were looking to buy as we did not fancy a lease we were told buying is by far the best option and given all the pitfalls of leasing. We even went back to a dealer who had tried to get us to lease only to hear him slag off leasing to another couple. What finally put us off was seeing a couple that were at the end of their lease. They were being given the figures for the excess mileage and damage. The poor woman was in tears.

[Considered1]

I’ve leased (contract hire) Audi & BMW, not Volvo.
Take care of the car and hand it back as if you were selling it then you will be fine. Leave it scratched all over and dented then you’ll pay their rate for fixing so arrange this before handing back. Nothing will get overlooked as they go straight to auction mainly and it’s the transporter just doing his job.

I thought i’d be charged for a couple of tyres near the limit but he said they are legal so i’m safe to drive it. Leave him a quarter of a tank of fuel and he’ll be well on his way.

Leasing is a great way of avoiding the unknown depreciation if you can be pretty sure of your mileage, Volvo have one of the highest mileage penalties around 14ppm. Audi was around 6ppm.

Almost impossible to terminate early as you can’t sell it as you only rented it very long term.

You can’t buy a Volvo lease car afterwards so don’t waste too much on options as you will find you will be paying the bulk of the cost of those over your lease term.

Also watch the amount of deposit, personally I get them all to quote on 3 months up front, don’t really understand why you would need to pay more and watch the quote for vat. Personal contract hire you pay the vat. Businesses usually get quoted before vat.

Road tax will be included. You need to insure it and watch some of the cheap on line insurance companies need you to be the owner, not just the registered keeper.

And you don’t need to lease from a main car dealer.

[steadvex]

I've never leased, but I've looked at lings site a few times, they have some good deals now and then https://www.lingscars.com/

V90 deals

Prices seem transparent with everything included on the page, when I've looked in the past for people most are for business users I guess but these are always vat included prices

There's quite a premium on the CC version though, haven't looked at Volvo's site, I know they did have a great deal on the S90 for 18 months before

[NigelDay]

I had a Personal Contract Hire mailshot from my dealer a few months ago and looking at the figures again there seems to be some ‘good’ deals and some ‘not so good’. I’ll give one example.
S90 D4 Momentum Geartronic List £34350 Initial £2000 Monthly £244 (2 years, 8000 miles annual, 17.82p xs mileage).
S90 D5 AWD Inscription List £44100 Initial £2400 Monthly £499 (2 years, 8000 miles annual, 23.22p xs mileage).

Now I would never do a PCH. I’m high mileage and ‘buy new, keep many years’, but I’m puzzled by how much more expensive the PCH deal is for the S90 D5 over the D4. The monthly cost of the D5 is over TWICE that of the D4 but the list price is only 28% higher. The only explanation I can think of is that the D5 must depreciate like a stone – or am I missing something ?

[anotherv60]

Thanks for the replies.

The cheapest lease I have seen for the S90 D4 Momentum at a Volvo main dealer is £1080 deposit and £272 per month (18 months), but there are others lease deal websites advertising it for £792 deposit and £264 per month for 24 months (both are for 10,000 miles pa, both are around 7p per mile charges for first 5K, then 10p per mile after that).

I'd still be keen to know if anyone has managed to get an additional dealer contribution to the finance after the affinity discount for purchasing out right.

[Ninja59]

It does depend on car brand really. Most people i know end up on finance even if buying outright anyway now as dealer contributions tend to help get discount and then if buying outright then 14 days later clear it.

Personal leasing as PCH has come on leaps and bounds aimed at those that simply never want to own a vehicle. But yes any damage can see unexpected bills usually they use BCA as a guide, and mileage limits can have a large impact.

[Harvey1512]

I've leased a car via work for about the last 12 years or so. Most scare stories are from people who have never actually leased or those who leased but didn't understand the key features.

First off, don't lie about how many miles you will do. The best deals are for 10k per year but if you are going to do 20k then don't moan about the big bill at the end. The extra miles charged are usually pretty cheap so better to say 20k miles p/a and pay 12ppm extra for 600 miles than pay for mileage of 25k p/a that you don't actually utilise. No one is trying to catch you out, just think about your mileage up front and know the cost per mile that you will be charged extra if you go over that. The extra is usually pretty fair and you know it at the beginning.

At the end yes you hand your car back but it has to be in decent condition. Not rocket science and no, it doesn't have to be perfect. You are allowed the odd mark but not scratches or dents. They give you a booklet to show what is acceptable. I wait until 1 month to go and get a price from a bodyshop place to sort out any scratches or dents. They are used to dealing with lease cars so speak to them about what they think will be picked up and what will be fine. Don't go to a dealer, they mostly farm the work out to the back street guys anyway. If it is minor stuff than a mobile repair bloke will be enough. I've never paid more than £200 at a bodyshop place at the end of a lease, that is based on 6 cars leased. Factor this into your overall cost. Is it any different to the dealer kicking tyres and knocking off money in part ex based on your car being in poor condition?

A colleague of mine thought he was being clever once and bodged the touch ups / scratches himself. He got hit for a £500 bill by the lease company, way over the top but that is how it works. Don't think you can talk round the collection person as they get hit with fines if they miss any faults. That makes them pretty darned attentive although in my experience I have only had one where I refused to sign the report as I though he was being ridiculous. (In the end it was taken away unsigned but the company agreed with me and no charges were made) Dont be stupid and you will be okay.

I love leasing, it has got me cars I would never have been able to afford otherwise. Simple, easy, stress free. Just know the key features upfront.