d215yq
Senior Member
- Joined
- Mar 28, 2008
- Messages
- 2,664
- Reaction score
- 702
- Age
- 39
- Location
- Valencia, Spain
- Your Mercedes
- 1987 W124 300D 280k miles
It's not really my thing but my father may want a new car and so would consider for the first time leasing. That said here in Spain there is something even simplerand very popular called "renting" (that's what they advertise it as instead of lease/PCP. Essentially you long term rent a brand new car you choose/spec for a fixed monthly price for 3-4 years and it is like a rental car, you pay no insurance, tax, consumables (subject to reasonable use I assume), deposit or anything. the only extra charges, like with short term hire are damage and excess mileage charges when you hand it back.
I can't seem to find anything like this in the UK, it all seems to be a lease with a deposit and then monthly cost but you are responsible for all running costs. And as most are 4 yr terms presumably when the warranty has expired you are also liable for any catastrophic repair that may occur in the fourth year too?
That said I'm not an expert on this type of thing, it's not really for me, but if I was going for it here I would do the renting instead of lease as lease just seems like a half way house with finance intermediaries etc making their cut and then you have all the bother of maintaining a car even though you never own it...
I can't seem to find anything like this in the UK, it all seems to be a lease with a deposit and then monthly cost but you are responsible for all running costs. And as most are 4 yr terms presumably when the warranty has expired you are also liable for any catastrophic repair that may occur in the fourth year too?
That said I'm not an expert on this type of thing, it's not really for me, but if I was going for it here I would do the renting instead of lease as lease just seems like a half way house with finance intermediaries etc making their cut and then you have all the bother of maintaining a car even though you never own it...