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Personal Leasing in Ireland now

  • 04-02-2022 5:11pm
    Registered Users Posts: 847 ✭✭✭ bf

    I see personal leasing is now available in Ireland. I know it’s very popular in UK, be interesting to see how it does here.


  • Registered Users Posts: 72,978 ✭✭✭✭ colm_mcm

    There’s also an AIB-backed leasing company called Nifti

  • Posts: 0 [Deleted User]

    Leaseplan have been doing it for years, it's nothing new but it's very expensive.

  • Moderators, Society & Culture Moderators Posts: 15,716 Mod ✭✭✭✭ Manic Moran

    30k km a year max? That's not bad, you'll be lucky to get over 24k over here.

    Maybe they're doing it differently over your neck of the woods, but there are advantages to the way it's done here: You're paying for the depreciation plus a fee over the period, not the full cost of a car, so on a per-month basis, if you want a modern, in warranty car at all times, it's cheaper/easier than buying. 25% of new cars in the US are leased. In 2017, it was 35%. I'm considering it myself for the next one.

  • Registered Users Posts: 72,978 ✭✭✭✭ colm_mcm

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  • Registered Users Posts: 394 ✭✭ burger1979

    Hi, just wondering if anyone has gone and used leaseplan, Zucar or Nifti for personal leasing of a car, and what were your experiences of it? Thanks.

  • Registered Users Posts: 5,032 ✭✭✭ ofcork

    Saw the ad for nifti on facebook prices are crazy alright 450 for an Audi A1 or 870 for an A5!!!

  • Registered Users Posts: 1,747 ✭✭✭ Miscreant

    Prices usually include servicing and tyres. Not sure about anything else though. I've not personally had experience of leasing so can't speak for how they are long term.

    I suppose it is sort of like PCP except you are also paying the depreciation cost on the car, hence the higher per month outlay.

  • Registered Users Posts: 22,028 ✭✭✭✭ mickdw

    It's worse than PCP in that you have no possible chance of having any built up equity at end of 3 years. That being the case, it should be cheaper monthly than a PCP however they generally include maintence and tyres in the deals so that should add alittle but really at those prices it won't be a runner.

    I looked at it myself but prices are not good.

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  • Registered Users Posts: 13,675 ✭✭✭✭ wonski

    This makes no sense for personal customer at all.

    Pricey and waste of money even if maintenance and tires are included.

    Service and tires over first three years of "ownership" is nothing unless you do crazy mileage, which you won't, because it is to expensive with these leasing plans.

  • Registered Users Posts: 13,669 ✭✭✭✭ Fr Tod Umptious

    Apologies for the somewhat zombie thread but I am beginning to think that something like personal leasing may be an option for me

    Got rid of the 2004 second car last year after it sitting undriven since the start of COVID.

    Have done fine/ok as a family with one car since the start of COVID but there are times that a second car could come in real handy.

    Plus may NCB is up in August so I'd rather not let that lapse.

    Things like Go Car are not an option as the nearest location is 15miles away

    The idea of going out looking for a second hand car really does fill me with dread.

    Just looking on some of the websites and it's like 10 year old cars are going for minimum 5K.

    That's a lot of money for something that's 10 years old and could give God only knows what sort of bother.

    And that then involves and NCT every year, and it will be worth noting by the time I get rid of it in 5+ years.

    So what about personal Leasing

    Looking at Nifti, which do a no deposit option (I think) I calculate that I could get a brand new small car (that's all I need a small car) for approx. €333 a month on a 4 year plan. Which come out at about €16,000.

    That includes the cost of car tax and their maintenance package.

    And the 10k a year allowance is ok because I was not doing more than 13k a year when I was working in an office, now I am WFH.

    I'm going to assume that my insurance costs will be less for a new leased car than a 10+ year old one.

    Now obviously the spend of €16k over 4 years with nothing at the end is going to be more than the spend I would put into a €5k 10 year old car that I would keep for 4 or 5 years, but the piece of mind that comes with having a "newer" car in good condition with maintenance covered is a big pull.

    Has anyone started one of these Personal leasing plans ?