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S60 & V60 '18> / XC60 '17> / S90 & V90 '16> / XC90 '15> General Forum for the SPA-platform 60- and 90-series models |
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Your opinions - XC90 2015 trade in or extend?Views : 4277 Replies : 56Users Viewing This Thread : |
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Sep 24th, 2020, 09:42 | #21 | |
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Sep 24th, 2020, 11:04 | #22 |
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Personal lease for me once my current PCP comes to an end. Where I shall be returning with out paying the option bubble. Providing the finance deals suit me.
My current usage requires diesel and I am worried about the depreciation of future diesel vehicles. I don't understand why people get hung up, on having a car at the end (nothing to show for it). No one persons the situation is the same. IMO, If I can have hassle free motoring in a brand new car for a fixed term and monthly cost, that suits me. Alternately, I can buy a second hand car, with ??K miles and worry that, 1) its out of warranty. 2) what may go wrong and have to foot a bill or bills.
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Sep 24th, 2020, 11:39 | #23 |
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Yes, I agree it will likely take 2023-2024 before the car is released and all the issues ironed out. Someone in Volvo UK was saying the Polestar models have some teething issues already. Plus the new cars will probably be more expensive to start with.
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Sep 24th, 2020, 11:42 | #24 | |
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Thanks for this - yes, just today I started looking at the lease options but two issues (1) if you are going for a stock car then each lease company is limited by what it has access to - and it's not clear to me how to find who has what you want (2) the lease deals I saw were working out to £650 pm on a Momentum, where did you see the one above if you don't mind sharing? I can see the logic of leasing the car - never done it, always liked the idea of owning my car - but in this age where the technology is changing quite quick it makes sense. However I cannot understand how leasing could be cheaper than buying and owning the car - even with the trade in factor - as surely the lease company has baked in a few thousand pounds profit? Is it that they can secure the cars at a cheaper price perhaps? |
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Sep 24th, 2020, 11:43 | #25 |
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Sorry, just saw you said Stoneacre, will have a look
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Sep 24th, 2020, 11:59 | #26 | |
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I think warranty wise, although it the Volvo sponsored car care plan at £750 is much more than £260 at ALA - I would go with the Volvo one if I was keeping the car. They have an agreed dealer labour rate, so you shouldn't be out of pocket. The problem with reading the fine print, is I don't know what exclusions are realistically problems that could happen... it seems a little pot luck with the 2015/16 cars. I don't think all the problems are mileage related e.g. I had my steering control module and a normal (not air) suspension start leaking - only with 32K miles. The other issue I find is being unable to trust dealers in what consumables they tell you need to be replaced e.g. in January at Watford the car had an inspection and they said the front brake pads were 25% worn (in September just 1,200 miles later (we haven't been far during Covid times) - they say the brake pads are amber and 65% worn. The tyres were mysteriously 16% worn over the same period. So absolutely, you pay more for a newer car - over the next three years, I reckon I would spend £3K more per year on the newer car vs keeping the older car - so it's not a small amount of money - but this would be for hopefully less stress and also I would do it only if I had air suspension on the new car. Thanks for your thoughts! |
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Sep 24th, 2020, 14:50 | #27 |
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Lease co funders have access to the kind of fleet discounts that mere mortals can only dream about!
I’ve found that leasing always compares very favourably to owning a watching the depreciation eat up your money. It also removes the vagueness of the market, I couldn’t get anyone to take our last ‘owned’ car - a 3 year old low mileage Touareg, so in the end I took a hit and went with a WBAC type service. Even my then VW dealer who emailed saying used car shortage we will buy your car...said, er...but not your car sir! New T8 on order is a substantially cheaper lease cost than our current one .
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Sep 24th, 2020, 15:11 | #28 | |
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I've been reading about the changing EU emission requirements for 2021 and it looks like carmakers will really need to build more hybrids to meet their requirements until they have a good range of electric offerings, as otherwise they will get fined (unless they can buy credits off TSLA). It really is hard to project how (1) Covid, (2) Brexit, (3) Electric cars and (4) Anti-diesel sentiment with all affect existing used car stock 4-5 years from now. |
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Sep 24th, 2020, 18:12 | #29 | |
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Sep 24th, 2020, 21:08 | #30 | ||
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That financed car could have cost you a small fortune & then when you go to trade it in because you fancy a newer model or something different, it might not be worth that much anyway. So either the car will be left as a deposit plus cash, or if you're lucky, the car will equate to a decent deposit on its own. Then if you decide to finance another car, you'll be doing the exact same thing all over again. With a lease, you're paying a monthly payment for a brand new car that you'll never own admittedly. However, you can & many do, lease a car that you simply couldn't afford to on finance. With a lease, you aren't bothered about depreciation or how much it'll be worth in years to come because it simply isn't your problem or part of the lease contract... You don't own the car after all. Also, it doesn't matter if it breaks down, a like-for-like car is usually provided by the lease company, repairs cost you nothing because the car is under warranty anyway, plus the road tax is usually already paid as part of the deal. Then you can add extras to the agreement like tyre cover for an additional premium - There's a lot to be said for a lease vehicle. I guess the easiest way to work out whether a lease car is cheaper than finance is to look at the prices. Now for a fair comparison, you'd have to be buying a brand new vehicle on finance (The leased car will be brand new), so compare new with new. So factor in what the car costs to buy, how much your monthly payments will over each year (on finance), then what the car will be worth in future because depreciation is lost money. Then do the same for the lease, but remember, you won't be losing anything on depreciation because you don't own it. All you need to factor in for a lease vehicle is the monthly payments. Obviously, there's other running costs like insurance etc, but they don't come into this calculation as such. You're comparing the costs of a car on finance vs lease, not adding insurance, fuel etc up on top of it. If you want to do that, then by all means do. Quote:
I would keep your existing car personally. That's because I don't purchase expensive cars knowing that they're losing thousands every year. I buy older/used ones outright that have lost the majority of their value, but that's just my choice. If I wanted a brand new car, then the lease route is the one I'd take... It just makes more sense.
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