End of lease looming - suggestions?

[thewinelake]

So, I've got this early 2016 (65 plate) hatchback SE Business (in business grey with Canton audio) on a lease that's due to expire in early Feb 2019. It's done 28k miles.

 

Trying to work out what my car plans should be going forward.

 

I'm quite keen on getting the plug-in hybrid equivalent, as I think I'd be able to do most of my modest amount of every day driving on electricity (so less polluting and possibly cheaper). However, that's not going to be out until (I guess) late 2019. Goodness knows what the lease costs of one of those would be, but quite likely a lot more than the £200ish I'm paying now.

 

I've asked VWFS for a quote and they said £13.300 - which is not bad.

 

Or I could informally extend for 3 months at same rate

Or I could get a formal extension for 6-12 months (not sure how much that would be, but I've asked for a quote)

 

So what do the panel advise? Or what things should I be considering?

[BriskodaJeff]

It's obviously a personal choice, but some things to consider:

 

1. Late 2019 for the plug-in is IMHO ambitious. I reckon it will be at least 2020 before we see them appearing in numbers, though this is just gut feel and I would be very happy to be proven wrong.

2. Even if they arrive in late 2019, you will be looking at a v1.0 product. Everyone has a different risk appetite, but I would never beta test a new product at that price, or one I depend on to make my living. Might be different for you if the car is not so necessary / time off the road isn't such an issue. And of course they may be flawless from day 1.

3. Lease costs for the plug-in won't be available for a while yet I guess, and could be as you say a lot more than you are currently paying so may be unaffordable anyway.
 

On that basis, if I were in your position I would not consider extension of 3-12 months at all. I'd either chop it in for a new one and go plug-in in 2022 when they are more proven, or buy the current car and trade that when you make the move to the plug-in model in 3 years time.

[thewinelake]

Yes, the latter option is my current favourite, seeing as lease costs on new vehicles have gone up a lot since I took mine out.

Although I guess if the 12 month extension comes in at much under £250/month, that might still be worth it in terms of cashflow and keeping options open. My guess is that I'll see £2-£3k depreciation over that 12 month period, being given an option to buy in Feb 2020 at £11,000.

 

It's been a good decision to lease, I think. One thing I got wrong was going for tyre maintenance. I thought that after just under 3 years, they'd need replacing and that I'd get that done "for free" before buying. However, (a) the wear is looking insufficient to get down to the magic 3mm mark by Feb and (b) I've already had to replace 2 tyres (one of them twice) at my own cost due to punctures....

[IJWS15]

I'm in the same boat with 2 year lease ending in April.  Bought the tyre maintenance but only changed one so far, annoyed that if the front had hit the nail they would probably have picked up the bill.

 

Waiting for some figures from the dealer - mine may be replaced by a 1.5 petrol or another 2.0 diesel but I am in no hurry for a hybrid as the battery weight will put my fuel costs up.  Generally if it gets started it does 30 miles plus before it stops.

 

Skoda are not generally the beta versions as the technology hits Audi and VW first, by the time Skoda get it a lot of the issues have been ironed out.  It is one of the reasons that Skoda get better results than Audi in the surveys.

[BriskodaJeff]

15 minutes ago, IJWS15 said:

Skoda are not generally the beta versions as the technology hits Audi and VW first, by the time Skoda get it a lot of the issues have been ironed out.  It is one of the reasons that Skoda get better results than Audi in the surveys.

Fair comment on the whole, though not universally true IMHO. Im thinking for example about the early problems with adblue over-filling in the 2015/16 Superbs, or the retrospective software fixes for sticking lights etc. As i said, the plug-ins may be perfect straight out of the gate, but I wouldn't bet my own money on it. Horses for courses.

[thewinelake]

5 hours ago, IJWS15 said:

annoyed that if the front had hit the nail they would probably have picked up the bill.

Really? I got the impression that it was only worn tyres that qualified.

Not sure how long tyres last on the Skoda, but clearly longer than I was assuming!

[daveo138]

On 05/11/2018 at 23:04, thewinelake said:

 

Not sure how long tyres last on the Skoda, but clearly longer than I was assuming!

 

My fronts lasted about 25k. The rears are still going at 41k, although they are now on the front - long story!

[thewinelake]

Following a suggestion in another thread, I’m now looking at Volvo V90. Nearly gets to the mythical 1% of new price per month...

[TonyTonic]

9 hours ago, thewinelake said:

Following a suggestion in another thread, I’m now looking at Volvo V90. Nearly gets to the mythical 1% of new price per month...

Cracking deals now for S/V90s at the moment, not sure how long they will last.

 

Is there a facelift due and that's why?

[Sagalout]

No, it's because they have launched 2 other models in their range this year. The XC40 and V60 and they have a new S60 coming in a few weeks.

Also the retail price of the S/V90 is now over £40K for much of the range and the emissions are not that good for the petrol versions at least.

So, need to keep things moving with good deals.

I have been tempted but told there may be something even better if I am not in a hurry. They are impressive cars. One niggle I cant understand, andriod auto and carplay are a £300 extra on all versions. ???? In 2018 really on a prestige car.

[TonyTonic]

7 minutes ago, Sagalout said:

 

I have been tempted but told there may be something even better if I am not in a hurry. 

cool let us know if you hear something

[thewinelake]

7 hours ago, TonyTonic said:

cool let us know if you hear something

Indeed! And who we should be listening to...

 

There are some very low prices on leases for Mercedes E-class at the moment, too. Around £320ish/month inc VAT on a 6+23 for E200 AMG Line 9G-Tronic estate including metallic paint. That's cheaper than a Superb!

 

Drive the deal price is £33,897 and the effective monthly cost (£320 * 29/24) is £387...

So 2 years cost £9280, or 27% of new price - how about that compared to depreciation?

Edited 16 November, 2018 by thewinelake

[thewinelake]

Oh, and I'm told that the maintenance contracts on V90s include tyres - and punctures!

 

Although the psychology of these things are interesting. When they say £30/month, I think "oh, that's cheap", but if they said £360/year, I'd think "Ooooh, pricey..."

Edited 16 November, 2018 by thewinelake

[ALSW123]

I was in a similar situation SE business estate,  3 year 25k miles a year pch at 330 per month, expiring December, (extras; park assist,rear crew assist  and 4 year 80k warranty) excluding maintenance. Looked around and even with my mileage set to drop the v90 or another superb were the only options I considered if I was to replace it.

 

Was quoted 10k to buy it with almost 75k miles covered already or £265 per month for 12 month extension. Went with the extension for now and will reconsider in a year. Hoping either for better deals or new options to tempt me.not sure how much the mileage affects their calcs but I was surprised how much the price came down. Looking at an aftermarket warranty though as too much electrical to go wrong!

 

Edited 18 November, 2018 by ALSW123