[KBEE]

I agree it’s hard to predict what will happen with used prices, but I think the other thing to bear in mind is that the closer we get to 2030, the more (I think) demand will shift towards electric cars and away from petrol/diesel.
And if a few more cities impose ULEZ-type charges for taking your conventional ICE car into the centre of a city, demand will drop even further.
The certainty offered by a PCP or Lease is good, but I think any equity from the former option is best regarded as a bonus if you get it, not something you can bank on to fund a deposit on your next car.

 

[Wildcat]

Interesting I am considering going from R-Line PCH to Elegance PCP, the opposite of you. My choice more driven by the fact I have massively over paid on a lease for 15K miles a year and I've averaged 4K.

Hi @leehal , I'm currently leasing my Tiguan, but I approached my lease company about mileage and they were more than happy to amend my lease contract which brought my monthly amount down to a much better value considering the miles I was not doing due to covid and restrictions. I was on target for doing 100k miles over 4year lease, so now mine's adjusted to 50k miles over the same 4years and the monthly amount has dropped considerably. I did ask what would happen if I left it, would I benefit from any positive equity and they said no, it wouldn't even count towards a new lease, so better to get the financial difference back in your own pocket before the lease ends.

 

[leehal]

Hi @leehal , I'm currently leasing my Tiguan, but I approached my lease company about mileage and they were more than happy to amend my lease contract which brought my monthly amount down to a much better value considering the miles I was not doing due to covid and restrictions. I was on target for doing 100k miles over 4year lease, so now mine's adjusted to 50k miles over the same 4years and the monthly amount has dropped considerably. I did ask what would happen if I left it, would I benefit from any positive equity and they said no, it wouldn't even count towards a new lease, so better to get the financial difference back in your own pocket before the lease ends.

Thanks Wildcat - I did try VW a while ago and they offered to reduce my lease agreement by a tiny amount, after the fee I was going to be about £150(ish) better off over the term of the lease. The risk at the time was that my mileage could have gone back up if my working from home situation changed, it wouldn't have taken me long to rack up £150 in excess mileage charges.

Someone is going to end up with a cracking car at auction when it goes back.

 

[dbccoco]

Lease is safe and predictable. No worry on residual.For normal driving on our busy roads the upextrad and more comfy Elegance is the winner unless you are a macho man wanting to impress with an R line.
I have just returned my Hyundai 6 months early and had to pay half the remaining lease and then of course no Service or MOT cost. 500.

 

[Rawtekkers]

I was unsure myself on what route to take. In the end I went for the purchase and received a very healthy discount, in fact I collect Friday and I’ve saved approx 17% off today’s list price. Cheaper then any used car currently for sale of the same model with no extras and yet mine has over 2k worth. Leasing is a good option and it’s situational, but for me, the discount was to good.

Note: was on a Tiguan R

 

[mrew42]

Lease is safe and predictable. No worry on residual.For normal driving on our busy roads the upextrad and more comfy Elegance is the winner unless you are a macho man wanting to impress with an R line.
I have just returned my Hyundai 6 months early and had to pay half the remaining lease and then of course no Service or MOT cost. 500.

Macho Man? That's a strange statement.
Some of us prefer the looks of the R Line.

 

[Jon1972]

Lease is safe and predictable. No worry on residual.For normal driving on our busy roads the upextrad and more comfy Elegance is the winner unless you are a macho man wanting to impress with an R line.
I have just returned my Hyundai 6 months early and had to pay half the remaining lease and then of course no Service or MOT cost. 500.
If you had to pay them half the remaining rentals then that looks like it was costing you £166 a month. Any of the leasing companies I was looking at wanted the full amount repaid which is a significant amount if something like a job loss, accident, illness etc hits you. Leasing certainly works for some and while the repayments are predictable life isn't, like my colleague who has just started chemotherapy, or another who's just been diagnosed with early onset dementia. Be very clear leasing is cheaper because there are far fewer consumer protections.

 

[dbccoco]

PCP is now King. A friend has been told his Lexus finishing in March had a residual of 17k and I'd now worth 24k.
Ditto an Audi

 

[mrew42]

PCP is now King. A friend has been told his Lexus finishing in March had a residual of 17k and I'd now worth 24k.
Ditto an Audi

Changed your tune then?

 

[dbccoco]

Yes at present always open minded

 

[mrew42]

Yes at present always open minded

Except for the R line?

 

[dbccoco]

March a year ago I had an R line being delivered but with the start of the pandemic and the lockdown I cancelled it. Now I preferred for me Elegance which I have had for 4 months. Great car

 

[Dubzie1986]

Interesting. All the advice that I’ve saw at the time of my Tiguan order (inc RAC) was that it’s not a good time to buy another car and that leasing is the way to go !

I'd agree with this. Personally I fel that in two years the value of used cars will have dropped substantially. Chip shortages should be resolved and new cars will finally be on the market. This will drive the value of used cars down, meaning you will be buying high and selling low.

If you would have purchased 2 years ago and be selling now you would be on tona winner, however inthink you've missed the boat on that, and made the wrong choice here.