FabSwingers.com > Forums > The Lounge > Buy, rent or lease a car?
Buy, rent or lease a car?
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By (user no longer on site) OP
over a year ago
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"In my case a van. Whats everyone's opinions on this?
Van I would say lease .. brand new swap every 3-4 years £300 monthly "
That sounds alright. I've lost more than in new vans. |
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By (user no longer on site) OP
over a year ago
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"Buy - at least you have an asset at the end of it (hopefully)  "
Well that's what I've always done, but it's an asset which is constantly losing money. |
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"Depends upon tour liquidity and tax / business structure
That's French to me  "
Makes giving an answer slightly difficult. Do you have the funds to purchase outright? Are you operating as a business so that you can offset lease payments against profits etc |
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By (user no longer on site)
over a year ago
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"That's French to me "
Don't buy French, they have been our traditional enemies for hundreds of years. Besides, you'll be letting the side down on the 'Get Brexit Done' front. Boris didn't spaff against a wall just for you to undermine all his endeavours!  |
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By *lex46TV/TS
over a year ago
Near Wells |
"In my case a van. Whats everyone's opinions on this?
Van I would say lease .. brand new swap every 3-4 years £300 monthly "
That's exactly what I do, I pay £220 a month plus vat, but of course I claim the vat back.
Never any repair cost, no car tax to pay ot worry about mot's.
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"In my case a van. Whats everyone's opinions on this?
"
Depends on whether it's for business or private use.
For private use, I would buy. If it was for business I would lease... rental is only an option for occasional use I think.
Cal |
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By (user no longer on site) OP
over a year ago
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"Until you can figure out your chip shop bill, I'd suggest you hold fire on spending any more cash just yet! "
Arrrr fack that now
He was out of mushy peas and battered sausages when I went back  |
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By (user no longer on site) OP
over a year ago
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"Depends upon tour liquidity and tax / business structure
That's French to me
Makes giving an answer slightly difficult. Do you have the funds to purchase outright? Are you operating as a business so that you can offset lease payments against profits etc"
Ah, yes. Looks like you think buying out right is best choice  |
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By (user no longer on site)
over a year ago
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"Until you can figure out your chip shop bill, I'd suggest you hold fire on spending any more cash just yet!
Arrrr fack that now
He was out of mushy peas and battered sausages when I went back "
B-b-but you still managed to see the signboard prices right????? |
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By (user no longer on site) OP
over a year ago
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"That's French to me
Don't buy French, they have been our traditional enemies for hundreds of years. Besides, you'll be letting the side down on the 'Get Brexit Done' front. Boris didn't spaff against a wall just for you to undermine all his endeavours! "
Hmm I was thinking Ford or VW. I do like those smaller vans too.. the ones which all look the same but have different badges. |
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By (user no longer on site) OP
over a year ago
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"In my case a van. Whats everyone's opinions on this?
Van I would say lease .. brand new swap every 3-4 years £300 monthly
That's exactly what I do, I pay £220 a month plus vat, but of course I claim the vat back.
Never any repair cost, no car tax to pay ot worry about mot's.
"
I thought it was extra charge for no tax, repair costs or service/MOT. I guess you have a small van with low mileage charge. |
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By (user no longer on site) OP
over a year ago
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"In my case a van. Whats everyone's opinions on this?
Depends on whether it's for business or private use.
For private use, I would buy. If it was for business I would lease... rental is only an option for occasional use I think.
Cal"
For business but I'm looking at all the options. Whatever is the best deal. |
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By (user no longer on site)
over a year ago
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Interesting question.
I'm curious to see answers on that.
I'm so out of touch as I've had my car 11 years now I wouldn't know where to start.
However I've heard that when you lease you have to pay extra for certain features in the car to be switched on and useable. Which just sounds crazy to me and puts me off leasing a car.
That said I had the tax side with business explained to me and that does seem to benefit nicely. But the total amount of money paid over time seems nuts compared to buying one and not always being committed to payments for the life of the car. Do lease payments go down the longer you have it and the more dated it becomes? Or is it only for 4 or so years then you have to lease another?
If I'd leased my car 11 years ago and the payments stayed the same then I'd have paid thousands. Please tell me they go down! Or you have to lease another newer car.
Like I said so out of touch I'm clueless.
I guess to me it depends how often you want to update your vehicle and how much you're willing to shell out for an up to date one.
T
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By (user no longer on site) OP
over a year ago
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"That’s £14,400 over 4years. What’s the price of a really good almost new van??"
New vans over 30 grand. Some have increased in price by over 10 grand since before covid. Nearly new you can be looking at almost the same price with the way things are. Atleast that's how it was when I last looked at them. |
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By (user no longer on site) OP
over a year ago
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"Until you can figure out your chip shop bill, I'd suggest you hold fire on spending any more cash just yet!
Arrrr fack that now
He was out of mushy peas and battered sausages when I went back
B-b-but you still managed to see the signboard prices right????? "
It's a weird one. When I went there yesterday he did a special which consisted of faggots, chips, peas and gravy.. but he was out of faggots so I had it minus the faggots and it actually cost me more than the special on the board.
Anyways I drove to Greggs. |
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By (user no longer on site) OP
over a year ago
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"Interesting question.
I'm curious to see answers on that.
I'm so out of touch as I've had my car 11 years now I wouldn't know where to start.
However I've heard that when you lease you have to pay extra for certain features in the car to be switched on and useable. Which just sounds crazy to me and puts me off leasing a car.
That said I had the tax side with business explained to me and that does seem to benefit nicely. But the total amount of money paid over time seems nuts compared to buying one and not always being committed to payments for the life of the car. Do lease payments go down the longer you have it and the more dated it becomes? Or is it only for 4 or so years then you have to lease another?
If I'd leased my car 11 years ago and the payments stayed the same then I'd have paid thousands. Please tell me they go down! Or you have to lease another newer car.
Like I said so out of touch I'm clueless.
I guess to me it depends how often you want to update your vehicle and how much you're willing to shell out for an up to date one.
T
"
I've never heard of paying to have features switched on and usable. You don't have some features with base models which come with others. You can also add features to bog standard vehicles, like leather seats, alloy wheels and air con etc.
I think the lease price would remain the same for the duration of the lease. So for 4 year lease you pay the same price each month until it comes to the end of the lease and at the end of the lease you can lease another new motor.
If I'm wrong I Hope some fabbers can enlighten us.  |
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By (user no longer on site) OP
over a year ago
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"Buy it out right or you can be sneaky and do a lease purchase through your company, make the payments through it and then purchase the remaining your self at end of contract. "
I see |
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What will cost you the least over time? Are you needing a van for work or you just want a van?
Example: A leased van might cost you £200 a month over 3 years so that is £3600 over 3 years plus whatever he deposit is. If you can buy and van for that amount and have it forever, then buying is cheaper. Servicing might be a cost to consider as well, but if you look as lease, I always ask what costs less over time. |
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Out of nowhere here's an idea I looked at a van for my business but with road tax extra road tolls and reduced speed limit on some roads I got myself an older Honda crv 16 diesel £15 a year road tax cheap insurance and a boot as big as a van had widows backed out as well..
Very happy.
£200 a month with full ownership at the end of 26 months. |
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By (user no longer on site) OP
over a year ago
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"What will cost you the least over time? Are you needing a van for work or you just want a van?
Example: A leased van might cost you £200 a month over 3 years so that is £3600 over 3 years plus whatever he deposit is. If you can buy and van for that amount and have it forever, then buying is cheaper. Servicing might be a cost to consider as well, but if you look as lease, I always ask what costs less over time."
I need it for work.
If I could have a medium size van for £3600 I would jump at it. I'd lose more than that in vat. Soon as I turn the key.
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By (user no longer on site) OP
over a year ago
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"Buy a nearly new van? You haven't lost out on the big hump of depreciation in the first year 18 months?"
Nearly new aren't cheap any more. I've known people to buy brand new and sell them on for a profit because you can't get them. |
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By *ttmcdguyTV/TS
over a year ago
Milton Keynes |
Just be careful with leasing
The damage charges at the end of a lease can be astronomical and sometimes cheaper to buy the contract from the lease company!
If was me I would do lease purchase
Same benefits of servicing/warranty but you pay for running costs that you can still offset on you tax return expenses
Big balloon final payments reduce monthly payments and px before paying final payment anyway
Weather you buy or lease or rent it’s all tax deductible!
The only issue I see is you mentioned your business partner!
I don’t know how the tax system works in conjunction of a partnership
But your accountant/financial advisor should be able to tell you how that works
I don’t lease vans anymore due to damage they get by throwing tools and materials in the back
But all your carrying is battered sausage and chips it might be right for you ! |
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By (user no longer on site) OP
over a year ago
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"Out of nowhere here's an idea I looked at a van for my business but with road tax extra road tolls and reduced speed limit on some roads I got myself an older Honda crv 16 diesel £15 a year road tax cheap insurance and a boot as big as a van had widows backed out as well..
Very happy.
£200 a month with full ownership at the end of 26 months."
That sounds good
And you are right about the reduced speed limit on some roads.
I was done twice before Christmas  once for driving on a single carriageway at 57mph and once for travelling at 68mph on a duel carriageway.
I had no idea it was 10mph less for a van and I've done car speeds all my driving life with vans, but happened to get done twice in the same part of the country.
Now on duel I keep it under 60mph and on singles I keep it below 50mph and I have to put up with the road rage which comes with it from slowing people down.
Its surprising how many other van drivers over take me. I think most of them have no idea of the law. |
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"In my case a van. Whats everyone's opinions on this?
Van I would say lease .. brand new swap every 3-4 years £300 monthly "
Looked into this recently …. Where is £300 pm from ? …. I bought in the end, cash flow is important to me and I’m not vat reg so too much tied up in a lease for me … |
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By (user no longer on site) OP
over a year ago
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"Just be careful with leasing
The damage charges at the end of a lease can be astronomical and sometimes cheaper to buy the contract from the lease company!
If was me I would do lease purchase
Same benefits of servicing/warranty but you pay for running costs that you can still offset on you tax return expenses
Big balloon final payments reduce monthly payments and px before paying final payment anyway
Weather you buy or lease or rent it’s all tax deductible!
The only issue I see is you mentioned your business partner!
I don’t know how the tax system works in conjunction of a partnership
But your accountant/financial advisor should be able to tell you how that works
I don’t lease vans anymore due to damage they get by throwing tools and materials in the back
But all your carrying is battered sausage and chips it might be right for you ! "
HA I'm carrying more than battered sausages and chips. I've heard about that before, they can sting you if the van gets damaged.
I call him my business partner but he's not involved. We just work together sometimes.
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By (user no longer on site)
over a year ago
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"Just be careful with leasing
The damage charges at the end of a lease can be astronomical and sometimes cheaper to buy the contract from the lease company!
If was me I would do lease purchase
Same benefits of servicing/warranty but you pay for running costs that you can still offset on you tax return expenses
Big balloon final payments reduce monthly payments and px before paying final payment anyway
Weather you buy or lease or rent it’s all tax deductible!
The only issue I see is you mentioned your business partner!
I don’t know how the tax system works in conjunction of a partnership
But your accountant/financial advisor should be able to tell you how that works
I don’t lease vans anymore due to damage they get by throwing tools and materials in the back
But all your carrying is battered sausage and chips it might be right for you !
HA I'm carrying more than battered sausages and chips. I've heard about that before, they can sting you if the van gets damaged.
I call him my business partner but he's not involved. We just work together sometimes.
"
Colin, we're still waiting to find out how much the chips, mushy peas and everything cost Inthe other thread!!!!! |
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By (user no longer on site) OP
over a year ago
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"In my case a van. Whats everyone's opinions on this?
Van I would say lease .. brand new swap every 3-4 years £300 monthly
Looked into this recently …. Where is £300 pm from ? …. I bought in the end, cash flow is important to me and I’m not vat reg so too much tied up in a lease for me … "
I had a quick look online today. I saw some vans for less than that plus the vat. I guess there are some other charges on top, depending on how many miles you do and probably have to pay more if they service it themselves.
Im not vat registered either. I've always blown my balls off with that.
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By (user no longer on site) OP
over a year ago
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"Just be careful with leasing
The damage charges at the end of a lease can be astronomical and sometimes cheaper to buy the contract from the lease company!
If was me I would do lease purchase
Same benefits of servicing/warranty but you pay for running costs that you can still offset on you tax return expenses
Big balloon final payments reduce monthly payments and px before paying final payment anyway
Weather you buy or lease or rent it’s all tax deductible!
The only issue I see is you mentioned your business partner!
I don’t know how the tax system works in conjunction of a partnership
But your accountant/financial advisor should be able to tell you how that works
I don’t lease vans anymore due to damage they get by throwing tools and materials in the back
But all your carrying is battered sausage and chips it might be right for you !
HA I'm carrying more than battered sausages and chips. I've heard about that before, they can sting you if the van gets damaged.
I call him my business partner but he's not involved. We just work together sometimes.
Colin, we're still waiting to find out how much the chips, mushy peas and everything cost Inthe other thread!!!!!"
He was out of peas and sausages when I went back and unfortunately the thread closed. I moved on to Greggs. |
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By (user no longer on site)
over a year ago
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The car finance bubble is about to go pop as people struggle to make end of term payments, especially as cars have depreciated as much.
So avoid leasing |
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By *ttmcdguyTV/TS
over a year ago
Milton Keynes |
"The car finance bubble is about to go pop as people struggle to make end of term payments, especially as cars have depreciated as much.
So avoid leasing "
Car and vans have far from depreciated
In fact I would personally say 1st hand they are at an all time high
The new car market is struggling to get the cars
Which puts the price of used cars up !
I know several people who have been waiting for there new car delivery for nearly a year !
Another bloke I know bought a 18m old Range Rover and sold it the same day for £10k more than he paid for it !!
2years ago £10k would of bought you a tidy low miles few year old van
Same van last year £15k+
10year old Mercedes c350 with 100k miles on it just looked on eBay £13.5k
Definitely a sellers market not buyers |
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"The car finance bubble is about to go pop as people struggle to make end of term payments, especially as cars have depreciated as much.
So avoid leasing "
Used car prices have gone through the roof? |
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By (user no longer on site) OP
over a year ago
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"The car finance bubble is about to go pop as people struggle to make end of term payments, especially as cars have depreciated as much.
So avoid leasing
Car and vans have far from depreciated
In fact I would personally say 1st hand they are at an all time high
The new car market is struggling to get the cars
Which puts the price of used cars up !
I know several people who have been waiting for there new car delivery for nearly a year !
Another bloke I know bought a 18m old Range Rover and sold it the same day for £10k more than he paid for it !!
2years ago £10k would of bought you a tidy low miles few year old van
Same van last year £15k+
10year old Mercedes c350 with 100k miles on it just looked on eBay £13.5k
Definitely a sellers market not buyers "
Yeah thats the way I saw it when I last looked at buying.
My mate paid 29thousand for his van 4 years ago and a dealer offered him 21thousand for it. He was going to take him up on his offer but to buy the same new model van now is priced at over 40 thousand pounds! |
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By (user no longer on site) OP
over a year ago
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"Depends upon tour liquidity and tax / business structure
That's French to me
Do you want to spend money to reduce tax , if your paying 45% the answer is yes "
45% tax? Oh, no |
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"Buy - at least you have an asset at the end of it (hopefully)
Well that's what I've always done, but it's an asset which is constantly losing money."
I'm about to sell a car for four times what I paid for it, ten years ago. |
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By (user no longer on site) OP
over a year ago
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"Buy - at least you have an asset at the end of it (hopefully)
Well that's what I've always done, but it's an asset which is constantly losing money.
I'm about to sell a car for four times what I paid for it, ten years ago."
Wow  |
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