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Lease deals at the moment
- Thread starter davidmc
- Start date
Nothing else from any other broker shown on leasing.com which seems strange , it maybe a single funder which is propping up Pink Vehicle leasing. I am still waiting for a sales call for the Perfomance but they are flooded with requests atm , don't think we can expect any Performance models until September at earliest if order is placed this month
seems expensive if you compare pink are offering the performance model at 23 x 447.12 + 6 mth initial although this is 5k , I would opt for a performance at this price
5,000 is such a bizarrely small amount of miles, for 12,000 miles it's gonna be about £570 for performance from Pink, which is £712pcm a incl deposit. Octopus is £400 without and £600pcm with the deposit for the SR+.
So it's not a massive difference, but for me the insurance was £100pcm more expensive performance vs SR+!
Some Further Details on Performance Model 3
PVL
24mths
5k pa
Inc Metallic Paint
476.50
Initial (6 mths) : 2,859
Admin Fee : 0
Total Cost £ 13,819
OctopusEV
24mths
5k pa
Inc Metallic Paint
429.30
Initial (9 mths) : 3,864
Admin fee: 0
Total Cost : £13,738
Looking at some further 5- 7% reductions but i believe they are both using the same funder . Delivery is expected end of August/ Early September
PVL
24mths
5k pa
Inc Metallic Paint
476.50
Initial (6 mths) : 2,859
Admin Fee : 0
Total Cost £ 13,819
OctopusEV
24mths
5k pa
Inc Metallic Paint
429.30
Initial (9 mths) : 3,864
Admin fee: 0
Total Cost : £13,738
Looking at some further 5- 7% reductions but i believe they are both using the same funder . Delivery is expected end of August/ Early September
OctopusEV Performance Model 3
2 year Personal Contract Hire 8k miles
Initial payment: £3,140.04 including VAT
23 monthly payments: £523.34 including VAT
Total : £15,176.86
2 year Personal Contract Hire 10k miles
Initial payment: £3,317.82 including VAT
23 monthly payments: £552.97 including VAT
Total : £16,036.13
Difference over term 24 mths , 5k pa vs 10k pa : £2,298.13
The P111D value is £54,840.00
Cost: 12,718.31/54,840.00 = 23.19 %
Less than 25% is considered as beating depreciation , but who really know's what value Model 3 will actually be really be after 2 years.
2 year Personal Contract Hire 8k miles
Initial payment: £3,140.04 including VAT
23 monthly payments: £523.34 including VAT
Total : £15,176.86
2 year Personal Contract Hire 10k miles
Initial payment: £3,317.82 including VAT
23 monthly payments: £552.97 including VAT
Total : £16,036.13
Difference over term 24 mths , 5k pa vs 10k pa : £2,298.13
The P111D value is £54,840.00
Cost: 12,718.31/54,840.00 = 23.19 %
Less than 25% is considered as beating depreciation , but who really know's what value Model 3 will actually be really be after 2 years.
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So I persume with leasing there is no chance of ownership at the end of the deal?
We keep our cars for a while, the 3 is for my wife and she changes car every 8 years, our X wouldn't be changed till the motor/battery warranty runs out in Oct 2025, so unless the 3 turns out to be a dud we'll not be wanting to swap out in 2-3 years.
In our situation I just cannot see how leasing would work, at least with PCP there is an option to buy at the end.
Looking at the figures been quoted, assuming lease rates in 2 years time stay the same after 4 years we would have spent £30-35k on lease payments with no prospect of ownership? And at 6 years the lease payments would have nearly fully paid for a P Model 3, but staying with lease would leave us with no car?
We keep our cars for a while, the 3 is for my wife and she changes car every 8 years, our X wouldn't be changed till the motor/battery warranty runs out in Oct 2025, so unless the 3 turns out to be a dud we'll not be wanting to swap out in 2-3 years.
In our situation I just cannot see how leasing would work, at least with PCP there is an option to buy at the end.
Looking at the figures been quoted, assuming lease rates in 2 years time stay the same after 4 years we would have spent £30-35k on lease payments with no prospect of ownership? And at 6 years the lease payments would have nearly fully paid for a P Model 3, but staying with lease would leave us with no car?
if the terms longer (say 4 years) the monthly cost is usually cheaper. (i got a quote for £544/m, 6m deposit, no fee, 4 years, 25k miles a year - SR+ black, Black, Aeros, AP) - (octopusev if you want to know)
I'm leasing due to my company car allowance rules, i have to have a car no older than 4 years old so works out better for me. Also with leasing you do get a few additions than with PCP such as free road tax for the lease duration and roadside assistance free for the same.
Also as a business car drive (up to 25k miles a year) leasing gives me the comfort knowing that i pay the same amount each month and not worrying about what the car will be worth in 4 years with 100k miles on the clock. Just hand it back and get the next
Leasing total = £29k over 4 years inc road tax & road side worth around £1k over the period. What would a 4 year old M3 be worth with 100k on the clock? not sure yet. Also the hassle of selling at the end. I know you can trade in but you usually get a lesser amount.
My Man Maths senses tells me that i'm evens at the end (give or take 5%!)
E&OE!
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