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aquakadabra

  • Posts: 101
lease or buy advice please
« on: February 12, 2018, 11:24:16 pm »
thinking of going in to leasing vans I already own 2 vans but had both of them break down in new year one costing 500 the other 950 and just wondering if it would be cheaper to lease.

Stoots

  • Posts: 6213
Re: lease or buy advice please
« Reply #1 on: February 13, 2018, 12:17:57 am »
Very doubtful it would be cheaper to lease.

For example a typical lease over 5 years might be around 20k or more.

If you bought a 5k van what's the chances of it needing 15k of work doing in 5 years?

So no it most likely won't be cheaper however you might enjoy having a new van for a few years that shouldn't need any work doing for a long time.

Marc Stock

Re: lease or buy advice please
« Reply #2 on: February 13, 2018, 08:14:50 am »
Exactly. Its a misconception that leasing is cheaper. Its easier, but not cheaper.


AuRavelling79

  • Posts: 25405
Re: lease or buy advice please
« Reply #3 on: February 13, 2018, 08:26:26 am »
Be religious about putting money aside for van repairs - say £100 a month on standing order and that will help enormously.

Maybe put in an ISA and "ringfence" it from yourself.  ;D

 
It's a game of three halves!

dazmond

  • Posts: 23988
Re: lease or buy advice please
« Reply #4 on: February 13, 2018, 09:16:11 am »
leasing is defo not cheaper...what i did though was put some of my work up to cover the cost of the monthly rental.from enquiring about a new van to getting it delivered on my driveway took around 3 weeks....i had to pay 3 months rental up front.at the end of the lease(5 years)ill have paid out 13k.the balloon payment is 7k so thatll be 20-21k including VAT but the van should still be in good condition with around 20k on the clock.i could then have the van for another 5 years before selling it,or even another 5 years after that.

i have the option of trading it in after 5 years and getting another deal on a new van,or selling it to pay the balloon payment or just continue to pay my monthly rental and no balloon payment until i decide to sell it....

i went a bit overboard and got the top spec van(limited version)with heated drivers seat,air con etc.i could of got a cheaper deal on a bog standard version but i thought sod it.i wanted a bit of comfort in my working life after 25 years window cleaning.... ;D
price higher/work harder!

Spruce

  • Posts: 8465
Re: lease or buy advice please
« Reply #5 on: February 13, 2018, 09:24:30 am »
leasing is defo not cheaper...what i did though was put some of my work up to cover the cost of the monthly rental.from enquiring about a new van to getting it delivered on my driveway took around 3 weeks....i had to pay 3 months rental up front.at the end of the lease(5 years)ill have paid out 13k.the balloon payment is 7k so thatll be 20-21k including VAT but the van should still be in good condition with around 20k on the clock.i could then have the van for another 5 years before selling it,or even another 5 years after that.

i have the option of trading it in after 5 years and getting another deal on a new van,or selling it to pay the balloon payment or just continue to pay my monthly rental and no balloon payment until i decide to sell it....

i went a bit overboard and got the top spec van(limited version)with heated drivers seat,air con etc.i could of got a cheaper deal on a bog standard version but i thought sod it.i wanted a bit of comfort in my working life after 25 years window cleaning.... ;D

Daz,
Whilst the van is still new I would make enquiries as to what level of rust protection Ford are applying to their vans made in Turkey (outside EU). If its questionable and you want to keep the van that long, then I would be looking to get a good rust treatment done now by a reputable center before the dreaded tin worm gets a foothold.
Success is 1% inspiration, 98% perspiration and 2% attention to detail!

The older I get, the better I was ;)

lal

  • Posts: 1113
Re: lease or buy advice please
« Reply #6 on: February 13, 2018, 10:04:58 am »
leasing is defo not cheaper...what i did though was put some of my work up to cover the cost of the monthly rental.from enquiring about a new van to getting it delivered on my driveway took around 3 weeks....i had to pay 3 months rental up front.at the end of the lease(5 years)ill have paid out 13k.the balloon payment is 7k so thatll be 20-21k including VAT but the van should still be in good condition with around 20k on the clock.i could then have the van for another 5 years before selling it,or even another 5 years after that.

i have the option of trading it in after 5 years and getting another deal on a new van,or selling it to pay the balloon payment or just continue to pay my monthly rental and no balloon payment until i decide to sell it....

i went a bit overboard and got the top spec van(limited version)with heated drivers seat,air con etc.i could of got a cheaper deal on a bog standard version but i thought sod it.i wanted a bit of comfort in my working life after 25 years window cleaning.... ;D

Daz,
Whilst the van is still new I would make enquiries as to what level of rust protection Ford are applying to their vans made in Turkey (outside EU). If its questionable and you want to keep the van that long, then I would be looking to get a good rust treatment done now by a reputable center before the dreaded tin worm gets a foothold.


Hi Spruce, just picking your Brains if you don't mind, i have just recently bought a new Transit Custom, just wondering
what sort of Rust treatments are available for new vehicles, as i live near the sea in Galway ireland, the rust problem could
be a lot worse.

Larry

dazmond

  • Posts: 23988
Re: lease or buy advice please
« Reply #7 on: February 13, 2018, 06:13:57 pm »
leasing is defo not cheaper...what i did though was put some of my work up to cover the cost of the monthly rental.from enquiring about a new van to getting it delivered on my driveway took around 3 weeks....i had to pay 3 months rental up front.at the end of the lease(5 years)ill have paid out 13k.the balloon payment is 7k so thatll be 20-21k including VAT but the van should still be in good condition with around 20k on the clock.i could then have the van for another 5 years before selling it,or even another 5 years after that.

i have the option of trading it in after 5 years and getting another deal on a new van,or selling it to pay the balloon payment or just continue to pay my monthly rental and no balloon payment until i decide to sell it....

i went a bit overboard and got the top spec van(limited version)with heated drivers seat,air con etc.i could of got a cheaper deal on a bog standard version but i thought sod it.i wanted a bit of comfort in my working life after 25 years window cleaning.... ;D

Daz,
Whilst the van is still new I would make enquiries as to what level of rust protection Ford are applying to their vans made in Turkey (outside EU). If its questionable and you want to keep the van that long, then I would be looking to get a good rust treatment done now by a reputable center before the dreaded tin worm gets a foothold.

my local garage specializes in bodywork repairs and rust treatments..in fact their going to apply some chemical to the underside of my golf to protect it from any further rust..or at least slow it down a bit..... :)
price higher/work harder!

aquakadabra

  • Posts: 101
Re: lease or buy advice please
« Reply #8 on: February 13, 2018, 08:00:57 pm »
thanks for all the advice guys much appreciated

Spruce

  • Posts: 8465
Re: lease or buy advice please
« Reply #9 on: February 13, 2018, 08:48:15 pm »
leasing is defo not cheaper...what i did though was put some of my work up to cover the cost of the monthly rental.from enquiring about a new van to getting it delivered on my driveway took around 3 weeks....i had to pay 3 months rental up front.at the end of the lease(5 years)ill have paid out 13k.the balloon payment is 7k so thatll be 20-21k including VAT but the van should still be in good condition with around 20k on the clock.i could then have the van for another 5 years before selling it,or even another 5 years after that.

i have the option of trading it in after 5 years and getting another deal on a new van,or selling it to pay the balloon payment or just continue to pay my monthly rental and no balloon payment until i decide to sell it....

i went a bit overboard and got the top spec van(limited version)with heated drivers seat,air con etc.i could of got a cheaper deal on a bog standard version but i thought sod it.i wanted a bit of comfort in my working life after 25 years window cleaning.... ;D

Daz,
Whilst the van is still new I would make enquiries as to what level of rust protection Ford are applying to their vans made in Turkey (outside EU). If its questionable and you want to keep the van that long, then I would be looking to get a good rust treatment done now by a reputable center before the dreaded tin worm gets a foothold.


Hi Spruce, just picking your Brains if you don't mind, i have just recently bought a new Transit Custom, just wondering
what sort of Rust treatments are available for new vehicles, as i live near the sea in Galway ireland, the rust problem could
be a lot worse.

Larry

I'm not sure what level of protection the new Fords do have. This is something you need to take up with Ford Technical. They may also not be too committal with regard to this subject. After all, an owner of a previous Transit van may create trouble if he finds out that the van he bought a few months before the new model was released wasn't rust treated where the new model is. So none of the manufacturers released much info on this. (Actually, I didn't know that the facelift Citroen Dispatch from 2004 was galvanised dipped and I used to sell them. I did know that the pre-facelift Dispatch wasn't rust proofed. It didn't make sense to me that the Dispatch wasn't yet the Berlingo from 1999 was.)

I know that local the council have a batch of 10 plate Transit Connects. They had them since new. But I noticed two parked together and the sills were already rotten. These were made in Turkey. The Transit Connect was made there from its release back in 2003.

As I mentioned to Daz I don't know what Ford are doing now with regard to rust protection. Its EU legislated that vehicles built in EU have to have rust protection, but as Ford moved the factory from Southampton to Turkey for economic reasons, I am not sure what they can get away with, with Turkey not an EU member.

I think the biggest problem is finding a rust proofer that actually does a good job and actually sprays inside the channels and sills. I had mine done by the body shop that did a rust repair and it was a total joke. One of the inside of the mudguards they just sprayed over the mud still inside. They did nothing of what they were supposed to do. The result today is my sills are rusty.

Preferrably you need to take the day off and watch them do it. If they don't agree then you have to make the decision whether to trust them or not. After all, these treatments cost around £750 so you really need to know that they are doing a good job.

I still think that for internal box sections Waxoyl is still the one to beat, but there could be better products out there. You just need to do research.


Success is 1% inspiration, 98% perspiration and 2% attention to detail!

The older I get, the better I was ;)

NWH

  • Posts: 16952
Re: lease or buy advice please
« Reply #10 on: February 13, 2018, 09:47:22 pm »
My accountant said to me don’t worry about spending a fair bit on repairs you will benefit from it over lease or HP at the moment in my current situation as regards my tax,this week I need a new DMflywheel £1000 2 new rear bearings 4 new tyres and in the near future a new turbo so not much change out of 2-2500 grand. The thing is it’s alright moaning but if I don’t have a vehicle I ain’t earning,you can have un told trouble with a brand new van all my van troubles have all come at the mileage and time they are likely to happen

Stoots

  • Posts: 6213
Re: lease or buy advice please
« Reply #11 on: February 13, 2018, 10:22:39 pm »
Thing is if you buy a cheap van you generally spend money on repairs and days off work with breakdowns and if you buy a brand new van you spend money on depreciation.

So take your choice. You can't win either way with vehicles they are always money pits.


KS Cleaning

  • Posts: 3955
Re: lease or buy advice please
« Reply #12 on: February 13, 2018, 10:31:58 pm »
My accountant said to me don’t worry about spending a fair bit on repairs you will benefit from it over lease or HP at the moment in my current situation as regards my tax,this week I need a new DMflywheel £1000 2 new rear bearings 4 new tyres and in the near future a new turbo so not much change out of 2-2500 grand. The thing is it’s alright moaning but if I don’t have a vehicle I ain’t earning,you can have un told trouble with a brand new van all my van troubles have all come at the mileage and time they are likely to happen
Surely if you knew of these problems you would av been better chopping the van in for something newer with less miles? £2500 on repairs is madness, tax deductible or not.

NWH

  • Posts: 16952
Re: lease or buy advice please
« Reply #13 on: February 13, 2018, 11:36:45 pm »
Ignore the tyres that’s just run it the mill we all need them don’t we,it’s a dual mass flywheel and the the turbo is on the way out it’s a  VW T5 so it’s big money on those vans. It’s a great van I’d rather keep it at  the mo rather than chuck it in for a brand new trafic or similar,it’s the first big bill I’ve had with it in 3-4 years so I ain’t bothered if I got another bill like that in say 12 months it would be going but it’s earned me a good living over that time.

NWH

  • Posts: 16952
Re: lease or buy advice please
« Reply #14 on: February 13, 2018, 11:41:51 pm »
And I didn’t know I had a knock which I was I told was the DPF filter so I had the van remapped and at the same time had the DPF taken out of the electronics. A bit of advise for VW Transporter owners get it mapped mines now 180 brake it drives so so much better,when they say it makes it more fuel efficient they are right I’m hardly out of 5-6th gear now and it pulls up hills in 5th like it did in 3rd before.

tlwcs

  • Posts: 2088
Re: lease or buy advice please
« Reply #15 on: February 14, 2018, 06:28:56 am »
And I didn’t know I had a knock which I was I told was the DPF filter so I had the van remapped and at the same time had the DPF taken out of the electronics. A bit of advise for VW Transporter owners get it mapped mines now 180 brake it drives so so much better,when they say it makes it more fuel efficient they are right I’m hardly out of 5-6th gear now and it pulls up hills in 5th like it did in 3rd before.

Is that why the clutch /flywheel is pooped? 😁

Jonny 87

  • Posts: 3488
Re: lease or buy advice please
« Reply #16 on: February 14, 2018, 06:47:43 am »
And I didn’t know I had a knock which I was I told was the DPF filter so I had the van remapped and at the same time had the DPF taken out of the electronics. A bit of advise for VW Transporter owners get it mapped mines now 180 brake it drives so so much better,when they say it makes it more fuel efficient they are right I’m hardly out of 5-6th gear now and it pulls up hills in 5th like it did in 3rd before.

Is that why the clutch /flywheel is pooped? 😁

Highly likely.  :)
Vision Technician / Visual Engineer /  Vision Enhancement Operative /...........................................................OnlyUseMeWFP AkA Jonny the Windy Wesher

Spruce

  • Posts: 8465
Re: lease or buy advice please
« Reply #17 on: February 14, 2018, 07:32:53 am »
And I didn’t know I had a knock which I was I told was the DPF filter so I had the van remapped and at the same time had the DPF taken out of the electronics. A bit of advise for VW Transporter owners get it mapped mines now 180 brake it drives so so much better,when they say it makes it more fuel efficient they are right I’m hardly out of 5-6th gear now and it pulls up hills in 5th like it did in 3rd before.

From May this year MOT tests are becoming more strict. Its very easy for an MOT inspector to see if the vehicle has a non working dpf filter just by running his finger around the inside of the exhaust pipe. If its sooty, then the dpf filter is 'faulty.' 
Is that a justification on its own to fail the diesel? How far does the 'visual inspection' go?

http://garagewire.co.uk/news/mot-dpf-changes-now-expected-in-may-2018-dvsa-confirms/

I always think the comments from readers that follow an article like this are worth the read.

Car is in for MOT this morning, so we will ask the tester's opinion. (And the testers opinion in certain aspects is very important. For example, our local inspector will fail a van at MOT if we secure our tanks through the chassis. He says that drilling holes in it will weaken its structure. Another MOT inspector doesn't see this as an issue if its done 'correctly'.)
Success is 1% inspiration, 98% perspiration and 2% attention to detail!

The older I get, the better I was ;)

dazmond

  • Posts: 23988
Re: lease or buy advice please
« Reply #18 on: February 14, 2018, 07:52:45 am »
My accountant said to me don’t worry about spending a fair bit on repairs you will benefit from it over lease or HP at the moment in my current situation as regards my tax,this week I need a new DMflywheel £1000 2 new rear bearings 4 new tyres and in the near future a new turbo so not much change out of 2-2500 grand. The thing is it’s alright moaning but if I don’t have a vehicle I ain’t earning,you can have un told trouble with a brand new van all my van troubles have all come at the mileage and time they are likely to happen

what are you on about? ::)roll

"you can have untold trouble with a new van"??????

your more likely to have trouble with an old van like yours mate.....
price higher/work harder!

Jonny 87

  • Posts: 3488
Re: lease or buy advice please
« Reply #19 on: February 14, 2018, 08:03:24 am »
Leasing is absolutely cheaper than buying.....
When you compare brand new vehicles.

Buying a vehicle is only cheaper, if you either buy very cheap, and run it for a while, or you buy a new vehicle, and keep it for say 8-10
Years.

I bought a van, but I also lease a pick up.

Over the 4 years I’ve had the pickup, it will save me about £12,000, instead of buying. 

I’ve got no hassle with worrying about repair bills, and even down time. The leasing company will
Provide me a replacement if it breaks down and needs repaired.

Both lease and buy have positives and negatives.

Sometimes it’s nice every 3 or 4 years to just get a new shiny vehicle that is reliable and won’t cost you money in down time.

Vision Technician / Visual Engineer /  Vision Enhancement Operative /...........................................................OnlyUseMeWFP AkA Jonny the Windy Wesher