Lease ends in 7 weeks...

[Pete T]

My 65 plate SE Business 150 diesel manual is due to be returned to VWFS on 6 November. The car is in excellent condition and the only damage to it is some stone chips. It hasn't needed any paint and none of the Stratos alloys have been damaged, other than by stone chips, as they do. It's always been snow foamed and mitt washed and has never been near a car wash.

 

I requested a purchase price online via the VWFS website and the instant provisional valuation has shocked me as it seems quite low at £13872. The car has 24000 miles on it currently and will probably be around 25000 by the return date.

This was one of the first MKIII SE Business delivered so benefits from the electric boot and rear sunblinds which were fitted to the first batches seemingly in error. The car also has the heated front seats & heated windscreen options so this makes the valuation especially good I think. I've requested a formal written valuation so we'll see what that comes back with.

I don't know anyone who might want a seemingly cheap Superb with a full 12 months warranty remaining (and I'm not allowed to buy it myself under the terms of the lease, although I'm going electric in any case) but if any Briskodians might be interested in taking the car at the VWFS price then please let me know and I will look into the process in more detail.

 

https://www.dropbox.com/s/tq9j4cgm42a0s01/2016-01-30 16.29.37.jpg?dl=0

 

https://www.dropbox.com/s/stsn15kdv4kew7d/2016-01-30 16.30.15.jpg?dl=0

 

https://www.dropbox.com/s/s7q7r6dupglnp49/2016-01-30 16.30.43.jpg?dl=0

 

https://www.dropbox.com/s/vjaczflcedmxldf/2016-01-30 16.31.22.jpg?dl=0

 

 

 

 

 

Edited 11 September, 2017 by Pete T

[silver1011]

Whilst you aren't allowed to buy the car, your wife (or someone else you know) can.

 

Closest I could find on Autotrader on a 65 plate was an estate with 43,000 miles on it...

 

http://www.autotrader.co.uk/classified/advert/201708118240145?make=SKODA&sort=price-desc&radius=1500&keywords=SE Business&onesearchad=Used&onesearchad=Nearly New&onesearchad=New&price-to=15000&postcode=ox161we&advertising-location=at_cars&model=SUPERB&page=1

 

At £15,000 including the dealer margin then yours at under £14K with lower mileage and factory options sounds competitively priced. Even if you have no interest in owning the car yourself then it could still be worth buying it and selling it on!?

[Pete T]

11 hours ago, silver1011 said:

Whilst you aren't allowed to buy the car, your wife (or someone else you know) can.

 

Closest I could find on Autotrader on a 65 plate was an estate with 43,000 miles on it...

 

http://www.autotrader.co.uk/classified/advert/201708118240145?make=SKODA&sort=price-desc&radius=1500&keywords=SE Business&onesearchad=Used&onesearchad=Nearly New&onesearchad=New&price-to=15000&postcode=ox161we&advertising-location=at_cars&model=SUPERB&page=1

 

At £15,000 including the dealer margin then yours at under £14K with lower mileage and factory options sounds competitively priced. Even if you have no interest in owning the car yourself then it could still be worth buying it and selling it on!?

 

Oh I know how it works regarding buying the car, I just don't have £14k lying around and by the time you look at loans etc it's just not worth the faff to try to buy and sell on.

 

[Pete T]

So to update, the official purchase price offer from VWFS is £13,600 which seems a veritable bargain to me!!

[SummersetBoy]

Your valuation makes me think about increasing the spec on our recently ordered Octavia as I'm already tempted to buy it at the end of the lease anyway?

[RickTT]

wow... at a guess.. thats around £13k lost in 2 years on the RRP....  

 

But then again i guess it depends on how much its cost you in them 24 months to understand the offset amount

Edited 12 September, 2017 by RickTT

[Pete T]

16 minutes ago, RickTT said:

wow... at a guess.. thats around £13k lost in 2 years on the RRP....  

 

But then again i guess it depends on how much its cost you in them 24 months to understand the offset amount

 

With a mileage adjustment it's cost me a total of £6675. They're surely making a loss...

[RickTT]

Just now, Pete T said:

 

With a mileage adjustment it's cost me a total of £6675. They're surely making a loss...

 

Possibly so, but then thinking about it, wonder how much they paid for it... could of been one of them mega cheap deals to get the cars out in the open so they paid say £18k for ...

 

Regardless, its a good price for a decent car....  its going to be intresting to see the prices once all the cars start hitting 3 years old..

[Pete T]

Now advertised in the For Sale section if anyone is interested.

[Pete T]

On 9/12/2017 at 08:47, Pete T said:

 

Oh I know how it works regarding buying the car, I just don't have £14k lying around and by the time you look at loans etc it's just not worth the faff to try to buy and sell on.

 

 

Today I've received a letter reminding me that the vehicle is available to buy at the end of the lease. The wording states "Under the Volkswagen Financial Services Driver Sales Programme you, your friends, colleagues or family now have the chance to buy the vehicle......" 

 

Note the word 'you', that seems to fly in the face of everything I was told at the beginning of the lease. I was told that the lessor could not purchase the vehicle, what's changed?!

[widu13]

Just got my START of lease docs confirming that my friends and family will have the opportunity to purchase at the end of the lease but not me. If I hadn't just started a lease I'd have had yours!

[Mattster]

On 11/09/2017 at 14:02, Pete T said:

My 65 plate SE Business 150 diesel manual is due to be returned to VWFS on 6 November. The car is in excellent condition and the only damage to it is some stone chips. It hasn't needed any paint and none of the Stratos alloys have been damaged, other than by stone chips, as they do. It's always been snow foamed and mitt washed and has never been near a car wash.

 

I requested a purchase price online via the VWFS website and the instant provisional valuation has shocked me as it seems quite low at £13872. The car has 24000 miles on it currently and will probably be around 25000 by the return date.

This was one of the first MKIII SE Business delivered so benefits from the electric boot and rear sunblinds which were fitted to the first batches seemingly in error. The car also has the heated front seats & heated windscreen options so this makes the valuation especially good I think. I've requested a formal written valuation so we'll see what that comes back with.

I don't know anyone who might want a seemingly cheap Superb with a full 12 months warranty remaining (and I'm not allowed to buy it myself under the terms of the lease, although I'm going electric in any case) but if any Briskodians might be interested in taking the car at the VWFS price then please let me know and I will look into the process in more detail.

 

https://www.dropbox.com/s/tq9j4cgm42a0s01/2016-01-30 16.29.37.jpg?dl=0

 

https://www.dropbox.com/s/stsn15kdv4kew7d/2016-01-30 16.30.15.jpg?dl=0

 

https://www.dropbox.com/s/s7q7r6dupglnp49/2016-01-30 16.30.43.jpg?dl=0

 

https://www.dropbox.com/s/vjaczflcedmxldf/2016-01-30 16.31.22.jpg?dl=0

 

 

 

 

 

24000 that's low. Mine is 6 months into a 4 year company lease and has racked up 16k so far 

[Shhhkoda]

My experience of personal leasing is there is always an opportunity to purchase before returning, despite whatever was agreed at the start.

[Pete T]

12 hours ago, Shhhkoda said:

My experience of personal leasing is there is always an opportunity to purchase before returning, despite whatever was agreed at the start.

 

Yes there is usually the option for a third party to purchase but not for the lessor to purchase, that's the difference here.