Fall in Interest Rates = Lease Cost Renegotiation?

[DavidArmstrong]

My agreement with my lease company gives them the right to vary any rental quoted prior to the acceptance and/or delivery of a vehicle to take account of material variations to interest rates that occur after the date the rental is quoted but before a vehicle is delivered. I was just wondering whether this works both ways.

 

[SamBGB]

I don't think there will be much room for maneuver as I don't think the banks base interest rate really plays that big of as part in the lease amounts.

 

[sofarso]

I would say about a zero percent chance.

 

[Durzel]

This is an emergency rate cut. I wouldn't expect it to stay like that for very long, maybe 6 months and certainly no longer than a year, so I would be surprised if its treated the same way as an actual fiscal policy change.

 

[DavidArmstrong]

Well the cost reduction has already been reflected on their website. They're quoting £35 per month less.

 

[Roy W.]

Well the cost reduction has already been reflected on their website. They're quoting £35 per month less.

Time for you to ring them then!

 

[j1mgg]

Do you think Blackhorse will reduce their PCP/HP rate?

 

[SamBGB]

Who is the lease company @DavidArmstrong ?

 

[Blueskye]

Quick question...
I am now about to pay my renaming deposit for the car... what’s better (faster) to use... RN or invoice Number?
My collection is Friday morning and they only gave me the invoice a few mins ago!!!

 

[sofarso]

I have been told a screenshot of payment will suffice and they are not going to be strict on the 7 day payment rule, due to being so busy atm.

 

[Jason71]

If your lease includes Car tax (VED) your lease companies costs just went down a further £30 per month with the removal of luxury car tax.

 

[SamBGB]

If your lease includes Car tax (VED) your lease companies costs just went down a further £30 per month with the removal of luxury car tax.

I asked the lease company about this and they said there is no road tax on the tesla, so I responded but is there no road tax in year two or three and they responded with.

"No and if there was we cover any road tax for the term."

So no drop in price for the quote I did earlier.

 

[WannabeOwner]

"No and if there was we cover any road tax for the term."

So ... previously that would have had to pay that (so presumably? given they are in business to make money! it was built into the price you paid), now they no longer have to and ... are they going to give that money back to you?

 

[Jez_GB]

If your lease includes Car tax (VED) your lease companies costs just went down a further £30 per month with the removal of luxury car tax.

Really!? I missed that. Is it removed altogether or have the thresholds changed?

 

[Jason71]

So ... previously that would have had to pay that (so presumably? given they are in business to make money! it was built into the price you paid), now they no longer have to and ... are they going to give that money back to you?

clearly not!

 

[SamBGB]

Yes it appears they won't be lowering the price.

 

[Jason71]

Really!? I missed that. Is it removed altogether or have the thresholds changed?

removed for all EV's (not just new ones) until at least 2025

 

[jeremymc7]

I thought maybe there might be room to lower my Tesla loan, but no. Mortgage rates have gotten better and even though I have a great rate I'm in the process of refinancing to lower it a whole percent. But all the auto refi rates are actually worse than what I have now.

Things seem to be changing daily though so keep an eye out just in case.

 

[Jez_GB]

removed for all EV's (not just new ones) until at least 2025

Cheers Jason, just clocked your other post about it