Purchase from Lease Company - fair price

[teebs]

Hi all,

 

My Superb is nearing the end of it's 3.5 year lease with Alphabet and they've given me a price to buy;

 

Superb 2.0 Tdi SE-L Hatch 150

Manual

Business grey / Beige Leather

Heated nozzles, colour info display as extras

 

104,880 miles

65 plate, registered October 2015

 

£8500

 

Checking Glasses Guide, trade is £7950 with retail and £10,450.

 

Thoughts?

[penguin17]

If you're interested in buying it then another factor I think is worth considering; you know the cars history from day one.  If you were to buy another car of the same age/mileage you just don't know what type of life it's had and how it's been maintained.  I think that is worth a slight premium, e.g I would pay a few hundred more for a car I was confident about, rather than saving a few hundred on one which was simply a gamble. 

 

Also something to consider, if you add up all your lease payments + £8500, could you have bought the same car from new at the same price, including broker prices? 

 

A quick look on Autotrader would suggest it's a very good price.  1.6TDI's are going for much more, with a similar mileage and lesser spec. 

 

I think the 150TDI is the best engine in the diesel range and if you've changed the oil regularly then there's no reason why it couldn't comfortably double it's current mileage. 

Edited 28 March, 2019 by penguin17

[peter3197]

38 minutes ago, penguin17 said:

If you're interested in buying it then another factor I think is worth considering; you know the cars history from day one.  If you were to buy another car of the same age/mileage you just don't know what type of life it's had and how it's been maintained.  I think that is worth a slight premium, e.g I would pay a few hundred more for a car I was confident about, rather than saving a few hundred on one which was simply a gamble. 

 

Also something to consider, if you add up all your lease payments + £8500, could you have bought the same car from new at the same price, including broker prices? 

 

A quick look on Autotrader would suggest it's a very good price.  1.6TDI's are going for much more, with a similar mileage and lesser spec. 

 

I think the 150TDI is the best engine in the diesel range and if you've changed the oil regularly then there's no reason why it couldn't comfortably double it's current mileage. 

I agree with most of this apart from this bit "Also something to consider, if you add up all your lease payments + £8500, could you have bought the same car from new at the same price, including broker prices? ". You have already paid this out and you will still have paid it regardless of whether you now buy the car or get another one from elsewhere.

[penguin17]

3 minutes ago, peter3197 said:

I agree with most of this apart from this bit "Also something to consider, if you add up all your lease payments + £8500, could you have bought the same car from new at the same price, including broker prices? ". You have already paid this out and you will still have paid it regardless of whether you now buy the car or get another one from elsewhere.

What I'm trying to say is...if the lease cost + £8500 is, for example, £17000 then it's even more of a positive aspect to buying an ex-lease.  It's much less than the OTR price of the car and likely much cheaper than what you would have paid (total cost) vs a different finance product or outright purchase.     

Edited 28 March, 2019 by penguin17

[peter3197]

31 minutes ago, penguin17 said:

What I'm trying to say is...if the lease cost + £8500 is, for example, £17000 then it's even more of a positive aspect to buying an ex-lease.  It's much less than the OTR price of the car and likely much cheaper than what you would have paid (total cost) vs a different finance product or outright purchase.     

I understand what you are saying but it is irrelevant to a decision whether it's a good deal to buy the car now. Even if the lease cost plus the £8500 is more than the OTR price of it new it doesn't make a difference as to whether the £8500 is a good deal.

[Nick_H]

2 hours ago, penguin17 said:

If you're interested in buying it then another factor I think is worth considering; you know the cars history from day one.  If you were to buy another car of the same age/mileage you just don't know what type of life it's had and how it's been maintained.  I think that is worth a slight premium, e.g I would pay a few hundred more for a car I was confident about, rather than saving a few hundred on one which was simply a gamble. 

 

Also something to consider, if you add up all your lease payments + £8500, could you have bought the same car from new at the same price, including broker prices? 

 

A quick look on Autotrader would suggest it's a very good price.  1.6TDI's are going for much more, with a similar mileage and lesser spec. 

 

I think the 150TDI is the best engine in the diesel range and if you've changed the oil regularly then there's no reason why it couldn't comfortably double it's current mileage. 

 

I understand what you are saying. My thought process would be exactly the same lol !

[teebs]

Thanks all, I've asked Alphabet if there's any movement on the price...

[SteHaworth]

If the car has been a good one, with few problems over its life, and you know its history then surely that's worth much more than a gamble on an unknown car, the only what else would you buy with your £8500

[freelunch]

Hop over to cargiant.co.uk, pop in your price range and see what pops up for the money. Your Škoda is looking pretty good!

[LeeBB]

Highest mileage I've heard of on a Superb 3. How's it going with the miles?

 

[prdisaac]

That's quite a few miles in a few years! I'm interested if much been replaced? Brakes? Any suspension? I've done 48k in my 2016 superb 1.4 and (touch wood) nothing worn out yet except the original tyres... Rear pads half gone, and the rear discs are a bit corroded, but still got plenty of miles in them. 

[Ootohere]

?

Do you really want to still be driving it another 3 years or more?

A 6 1/2 year old diesel in 2022.

[teebs]

I've managed to get them down to £8150.

 

Mixed opinions above, but you have to admit, it's a great car for that sort of money.

[4StringBass]

I bought mine at the end of its two year lease, don’t regret it. Knowing its history is worth so much. With the exception it’s journey from factory to the dealer, I know everyone who’s driven mine and how it’s been looked after. 

[penguin17]

30 minutes ago, teebs said:

I've managed to get them down to £8150.

 

Mixed opinions above, but you have to admit, it's a great car for that sort of money.

I'd go for it unless you really fancy a change.  It's a good deal IMO. 

 

You could probably run it for another year and not lose much money on a private sale. 

Edited 5 April, 2019 by penguin17

[burno20v]

It's a cracking price, I was at a Mobility auction a couple of weeks ago & a 65 plate Superb Sel auto estate with 76000 miles sold for 11 grand plus fees! It needed both nearside doors repairing & painting plus was due a service, it's currently for sale at a local garage for £13495.....