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- Topic
There are some amazing lease deals coming up in the market. This is an example of a great deal –
from leaseloco
Passat Estate 1.5 TSI eHybrid R-Line 5dr DSG
2 year deal, deposit/first payment £1,11261
10,000 miles per annum
£370.87/pm incl. VAT
no insurance or maintenance though
Cheers, all the very best
Vaun
- Replies
Sorry cut and paste went wrong. Lolz
deposit / first payment should read £1.112.61
Cheers, all the very best
Vaun
Add in servicing, insurance, tyres etc and it will work out much more expensive than motability.
Indeed.
Not to mention how in certain circumstances, with these type of leasing deals one can be left in ‘negative equity’ through no fault of their own.
A case in point being a somewhat distant friend who was formerly on the scheme, but went ‘off scheme’ to obtain one of these PCP type deals.
He could at the time have added in ‘Gap Insurance’ but as he said, the cost of it was prohibitive.
After 14 months or so, his car was written off when parked after being hit by an uninsured driver.
His insurance and the Motor Insurers Fund cover only paid out the then market value of the vehicle – leaving the lessee still owing the outstanding finance balance, which was thousands in excess of the vehicles market value.
So, if looking towards these type of schemes, consider whether adding (and paying for) such as GAP insurance would give you peace of mind (and wallet). This then needs adding into the overall cost.
If it had been a Motability scheme vehicle, then the lessee would have been left owing nothing, as Motability underwrite the loss in these type of cases.
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