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Dan

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We have a new sponsor comning on board, this will be for most of our websites.

The sponsor is a Van Leasing company, we're in final talks with two at the moment and are just getting the best deal out of one of them. Obviously we want this to be a long-standing thing so we're making sure it's right for us all before we announce which one and full details.

I've been looking into this a bit though and it seems you can get decent new vans for a very reasonable monthly fee after you've taken the tax benefits into account. Upto 40% of the costs can be recouped throughout the term and we're getting decent rates as part of the scheme too.

An example given to me was
Quote:
If you are a higher rate tax payer (currently 40% for non limited companies) you will in effect get 40% of your payment paid back from the tax man.
e.g.

New Navara 2.5 Sport Double Cab
Deposit £2500 less 40% tax benefit =£1500
Weekly Payment £54.98 less 40% tax benefit = £32.98

or, as a 20% tax payer

Deposit £2500 less 20% tax benefit =£1925
Weekly Payment £54.98 less 20% tax benefit = £43.33
Although this is one of the more expensive vehicles.

For a Renault Kangoo

Quote:
With maximum tax allowance,
your weekly payment of £32.99
becomes
£17.38 a week

And your deposit of
£1750
becomes a
£1050 deposit
I'll keep you posted.

 
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S

Spudnik

Looks like some good deals to be had there.

Look forward to seeing them on board!
 
G

GT1

will keep an eye on this to see if its a real good deal or not.

Ive been leasing my cars now for 5 years, and had a new car every 12 months as a result. One thing I have learned is that when comparing quotes, you have to look very carefully at the small print, and do a lot research if you want to make sure your not being fleeced, or missing a better deal elsewhere.

The absolute MINIMUM information needed to compare different lease contracts is:

  • Length of contract
  • Monthly Payment
  • Initial payment required
  • mileage allowance
My biggest tip, when comparing contracts is to add up the entire price of the contract and to then put that into a monthly figure..
for example

van 1 = 3 + 35 payments of $250 per month.
The total contract will be 38 x 250 = 9500.
Therefore the true "monthly" figure is 9500 divided by 36 = 264 per month

van 1 = "deposit" of 1600 followed by 23 payments of 180 per month
The total contract will be 23 x 180 = 4140. plus 1600 = 5740.
therefore the true "monthly" figure is 5740 divided by 24 = 239 per month

As you can see above, the 2 scenarios (which are quite realistic figures) look to be very different if you look just at the advertised monthly rentals, of 250 per month and 180 month. It takes some digging to get to the TRUE cost of the contract.

And just a few more things to bare in mind.

  • Lease companies can manipulate the costings easily by playing with initial payments and contract lengths. DO YOUR SUMS..!
  • The longer the contract the cheaper the car / van
  • However, you then HAVE to service the vehicle at MAIN DEALERS, so factor in servicing costs on any lease longer than 12 months.
  • Vehicles have to go back in reasonable wear and tear. You will have to have minor dents / dings repaired, before it goes back, or pay top whack prices for the lease company to have them repaired.
  • Insurance must be fully comp, and you may pay extra for a leased vehicle (the insurers DO ask if its a lease)
  • Check about signwriting and see if it is allowed..!!
Im actually quite a fan of leasing vehicles, it suits my circumstances fine. I have no ambition to own a vehicle whatsoever, as it makes no sense to own something that will lose value at such a high rate.!
However, there are hundreds and hundreds of tin pot lease companies out there. If you search for long enough, you will nearly always find a better deal than the one you first look at.
 
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