[Sir Squeaky]

I've been had.

Stay away from lease companies if you know what's good for you. AT ALL COSTS.

I took a 4 year lease purchase (or so I was told) and spent 4 years paying £275 a month.
I've just had to pay out £6000 on the final settlement only to to be told it's still not mine and they will take £323 a year from now on as a "secondary lease"!!!

I've now spent £19300 on a van worth £15400 and I still don't own it?? After a "SETTLEMENT" payment?!!

Bloody con. Not happy.

[AuRavelling79]

I've been had.

Stay away from lease companies if you know what's good for you. AT ALL COSTS.

I took a 4 year lease purchase (or so I was told) and spent 4 years paying £275 a month.
I've just had to pay out £6000 on the final settlement only to to be told it's still not mine and they will take £323 a year from now on as a "secondary lease"!!!

I've now spent £19300 on a van worth £15400 and I still don't own it?? After a "SETTLEMENT" payment?!!

Bloody con. Not happy.

Always read the small print.

But at least you can charge it all against tax - meaning you in effect get 20% off those payments. Leasing's ok if you do your homework and get the right deal.

And you can usually still sell but have to give 2.5% or some such to the lease company.

Please don't tell me you've got another lease on a new van to absorb the 6k ...

[LWC]

 

How is it not yours? I dont get it, secondary lease for how long? Would it be better keeping 6k, give van back and get a new one if theyre gonna keep charging you?

[AuRavelling79]

How is it not yours? I dont get it, secondary lease for how long? Would it be better keeping 6k, give van back and get a new one if theyre gonna keep charging you?

When you lease you never own the van legally. But by paying the secondary rental you can keep it indefinitely, sell it and pay a small % to the lease co.

[JSMC]

my next route wa sa possible lease but things like this put me off and the way they word things also. always trying to catch ye out. I think i will jsut take a loan out and buy van

[Tom White]

Squeaks,

How come you had to pay £6K?

In your original post you said:

so I went off to Acorn Leasing in Cardiff and they offered my a Renault Trafic (same van basically) at £258 p/m with a £4,400 balloon.
Not only that, but he threw in the electric pack and air conditioning!

http://www.cleanitup.co.uk/smf/index.php?topic=36030.msg283198#msg283198

This made me smile:

I should have gone to this company right from the start. They were so helpful.

Were they so helpful when they explained the £6K and the secondary lease? (Sorry, I couldn't help it)


But I know you really look after your vehicles well, so how did they add all that extra on?

[Klean07]

Could be the extra vat. It did go up a couple of months ago.

[Tom White]

Squeaks, I thought you were going to lease another van?  Couldn't you do this?

[dazmond]

i would never lease a van ever.conning barstewards!!


i would never pay more than 5 grand for a van.


dazmond

[Dave Willis]

Which is why your van has been off the road Dazmond 

Just depends on what you want and how the tax benefits pan out. At least you've had an utter reliable van for four years Squeeks and brand new too. What puts me off is the fact that they will bill you for any damage at the end of the term.
Any loan costs money for the privilege.

[Steve CM]

i just made the full and final payment of my lease deal last month after 36 payments. 75 quid it cost me to sign the van over to me

[Tom White]

i just made the full and final payment of my lease deal last month after 36 payments. 75 quid it cost me to sign the van over to me

So how did that work?  What's the difference between you and Squeaky's deal?  Were your monthly payments much higher or something?

[JSMC]

i just made the full and final payment of my lease deal last month after 36 payments. 75 quid it cost me to sign the van over to me

what van you get on lease and details of lease if possible. There are so many options to look at it this is what makes me very wary

[Steve CM]

mine wernt a new van. it was 3 years old when i got it. I then got it on a lease purchase deal where by at the end of the deal i can buy the van for 75 quid.

it only cost me 8k and my payments were 231 a month with a 10% deposit upfront

[JSMC]

mine wernt a new van. it was 3 years old when i got it. I then got it on a lease purchase deal where by at the end of the deal i can buy the van for 75 quid.

it only cost me 8k and my payments were 231 a month with a 10% deposit upfront

which firm offers that ?

[Sir Squeaky]

I've been had.

Stay away from lease companies if you know what's good for you. AT ALL COSTS.

I took a 4 year lease purchase (or so I was told) and spent 4 years paying £275 a month.
I've just had to pay out £6000 on the final settlement only to to be told it's still not mine and they will take £323 a year from now on as a "secondary lease"!!!

I've now spent £19300 on a van worth £15400 and I still don't own it?? After a "SETTLEMENT" payment?!!

Bloody con. Not happy.

Always read the small print.

But at least you can charge it all against tax - meaning you in effect get 20% off those payments. Leasing's ok if you do your homework and get the right deal.

And you can usually still sell but have to give 2.5% or some such to the lease company.

Please don't tell me you've got another lease on a new van to absorb the 6k ...

Of course I haven't. No-one leases twice. I've been told that everywhere.
I loaned the 6k from the bank, which worked out well because i'm paying far less than I have been for 4 years and it'll be mine. Or so I thought...

And it's 15% theirs. I wish it was 2.5%...

[Sir Squeaky]

How is it not yours? I dont get it, secondary lease for how long? Would it be better keeping 6k, give van back and get a new one if theyre gonna keep charging you?

No, because giving it back is when they send someone out to value it, and say "Tiny scratch here...that's a panel respray" "New tyres...Michelin Eagle only" etc...
I was told they'd send a bill of 5-800 quid. And then I'd have no van.
Made sense to keep this one with 29000 miles on the clock.

[Sir Squeaky]

Squeaks,

How come you had to pay £6K?

In your original post you said:

so I went off to Acorn Leasing in Cardiff and they offered my a Renault Trafic (same van basically) at £258 p/m with a £4,400 balloon.
Not only that, but he threw in the electric pack and air conditioning!

http://www.cleanitup.co.uk/smf/index.php?topic=36030.msg283198#msg283198

This made me smile:

I should have gone to this company right from the start. They were so helpful.

Were they so helpful when they explained the £6K and the secondary lease? (Sorry, I couldn't help it)


But I know you really look after your vehicles well, so how did they add all that extra on?

Wasn't £4400, it was 5000. But they didn't say it was PLUS VAT.
And they also said it was a lease purchase so it would be mine.

Wasn't the company you quoted above by the way.

[♠Winp®oClean♠]

I've been had.

Stay away from lease companies if you know what's good for you. AT ALL COSTS.

I took a 4 year lease purchase (or so I was told) and spent 4 years paying £275 a month.
I've just had to pay out £6000 on the final settlement only to to be told it's still not mine and they will take £323 a year from now on as a "secondary lease"!!!

I've now spent £19300 on a van worth £15400 and I still don't own it?? After a "SETTLEMENT" payment?!!

Bloody con. Not happy.

You've been ripped off & conned big style! :

I'm struggling with if you are actually being serious here or on a wind up?

You've spent £20k on a van now probably worth 6k?

I remember you ripping in to me because I bought a Fiat too!

[Sean Dyer]

Tell me about it, leasing is only worth it just , if you are vat reg

Otherwise get a 3 year old van cash, or on finance

I was looking at new vans as they look nice and etc , but the costs are just way too much unless you have the cash to go haggle, otherwise your paying 18 k for a van that when your finished paying is worth about 6k

Waste of money