Thinking of leasing a car for a year or so (non-business)

the_syco

Something I'm thinking of doing in the near future is to lease a car for 12-24 months. Not looking for a brand new car, just something newer than 2010. It'd be just by used privately by me, not for a business.

Would be hoping to spend around the €100-€150 mark, but I can't find any non-business leasing companies.

un5byh7sqpd2x0

LeasePlan do personal leases, though your budget is far too low if you mean monthly.

lomb

Just buy a banger for 1000 euro. If so it's good then sell it on for the same. There must be millions of cars out there that's have depreciated to this and are still great machines.

lomb

https://www.donedeal.ie/cars-for-sale/2007-ford-fiesta/24831442
I did a search on donedeal and there's tonnes of great motors for under a grand.

cruizer101

Leasing companies will generally only lease newer cars. They don't want the hassle and expense of maintaining older cars.
If they have to start paying to fix the cars it eats into their profits and it is unpredictable also.
Standard servicing is all they really want to pay out, once car gets a bit older sell it and get a new one.

There also isn't really a market for older lease cars as it only really makes sense for consumer when comparing to the cost of ownership of a new car.

colm_mcm

Get a credit union loan or something if cash is an issue, don’t get a long loan on a cheap car though.

zg3409

If you are really stuck for working cash get a cheap old car with a years nct, but beware insurance often costs more than the depreciation of the car, so you need a car cheap to insure. Sometimes cars over 10 or 15 years old can be loaded for higher insurance. You can get good cars for 500 euro such as a 05 Yaris, but check insurance costs first. If you are doing high mileage you may want a diesel, and something in the 2000 euro range that can take high speed and mileage. A Hyundai i40 is something I heard is reliable in diesel

R.O.R

cruizer101 wrote: »

Leasing companies will generally only lease newer cars. They don't want the hassle and expense of maintaining older cars.
If they have to start paying to fix the cars it eats into their profits and it is unpredictable also.
Standard servicing is all they really want to pay out, once car gets a bit older sell it and get a new one.

There also isn't really a market for older lease cars as it only really makes sense for consumer when comparing to the cost of ownership of a new car.

Leasing companies will generally (99% of the time) lease brand new vehicles, as they can reclaim the VAT on brand new vehicles, but not on used vehicles (VAT qualifying and commercial being very rare exceptions). Maintenance risk on a used car is a factor, but a lot smaller than the VAT issue.

OP - for that sort of money, you are looking at one of those lease to buy schemes that some dealers offer on used car. Bit like sub prime mortgages for the motor industry...

the_syco

lomb wrote: »

https://www.donedeal.ie/cars-for-sale/2007-ford-fiesta/24831442
I did a search on donedeal and there's tonnes of great motors for under a grand.

Cool. The reason I said €150, is I've seen a few offer the cars at €450 a month; if I was going to do that, I'd get a cheap car for €4,500, and pay the loan off in a year. If I was to buy, I'd be going got something newer than 2009, diesel, so that I wouldn't be paying €200 a quarter on tax (previous car was 2L 2008 Mondeo).

The other thing about the "cheap" cars, is that they're often not well maintained, and shortly after buying them I found X, Y, and Z need to be fixed.

Thus, rather buying a cheap car with costly repairs, was checking if I could lease a car for less than a car loan.