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Buying out of lease - what's book price?

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Have the Octy on a personal lease jobby with maintenance with 11 months left. However due to exceed agreed mileage by 10k, and the quote to cover this (or the default pence per mile if I dont declare) is quite steep. Am arguing how they arrived at an extra £80 per month! :eek::eek::eek::eek::eek::eek:

So looking at buying out of the lease and getting a loan for 2 years which including putting money aside for the maintenance will be cheaper.

To be sure I'm not loosing out, or being stitched on their offer price, can anyone assist me with a ball park?

Anthracite Elegance 2.0FSI (MY2007 spec)

Registered April 2007 (will show as only one owner if I buy, as registered in my name c/o lease co address)

26k miles (dont think the mileage affects what they will offer as it's time based clause in contract)

Maxidot + MFSW

17" & Sports suspension

Xenons

Curtain Airbags

Tyre Pressure Monitoring

Just really after options, as if too expensive may work out cheaper to take the hit now, walk away, and buy a new one from a dealer :P

Thanks.

try using the online valuations at Glass's guide or Parkers

You will have to pay to get a fully detailed price but a couple of quid should be worth it

This is what Glass's comes back with for a PX value:

Vehicle summary

Skoda Octavia Elegance

2.0 Petrol 5-door Hatchback

6 Speed Manual Front Wheel Drive

Year: 2007 07

Mileage: 26,000

Estimated value of your car

Part-exchange Price:

Excellent condition:

£7520

Average condition:

£6710

Below average condition:

£5970

...and this is the CAP price if that helps...

Nearest mileage available

26,000

Price when new £14,922

Retail value

Garage/retailer's selling price £9,795

Trade-in values

Clean Condition

£7,650

Average Condition

£7,075

Below Average Condition

£6,475

I'd normally get all the figures from the differing companies and come up with something in the middle. Just don't listen to Parkers or What Car.

  • Author

What I thought. 3/4 contract value is £7,800 - but then that was based on the 30k limit, so would be for around 22k.

More choices to make. but a loan would cut the outgoings by £50 each month, but add another year of ownership. The latter I can live with, as I wouldnt by a facelift, and wait for the Mk3 sometime in 2011?

  • Author

My manners, thanks guys.

  • 3 months later...
  • Author

Need to revisit this as per my roadside post :mad:

Dont need prices as such, but can anyone tell me ASAP the difference on the above between having one listed owner and two on the V5C. - or just a general rule of thumb of pricing difference between number of keepers

Long story short, car wasnt registered to me as should have been (meaning simply a change of address), put into lease co name, trying to work out how much I should be asking them to discount the settlement price by.

I'd honestly say there wasn't much, if any, value difference between one and two keepers. I know it wouldn't bother me. Only if one owner had kept it no time at all, which isn't the case here as you know the car's history.

If you're after a bit of money off, I'd discount by £200 say, and go from there.

HTH?

Steve

  • Author

Well the fight has started... and I've gone legal.

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