Leasing price doesn't seem to scale with options

[Anhunedd]

OK - been looking into an Enyaq, but I've spotted this:

 

The finance calculator only gives me leasing. I've selected a 12,000 miles per annum, medium package, 6 months initial, 48 monthly payments.

 

For the base Nav 60 Loft, priced at £31.995, that comes out at £2,490 initial payment and £415 per month.

 

If I spec it up a bit, I ended up at £35,400. That's a 10.6% increase in price over the base model.

 

But the leasing jumps to £2,974 initial and £496 monthly - which is a 19.5% increase.

 

Anyone know why this is? Have they got a "cheap" headline deal hardwired for the base model for advertising? Are those leasing quotes online accurate, or do you get a "proper" one at the dealer?

[Luckypants]

I've had this. Normally it's because the lease company does not give any residual value to your options. So they expect you to pay for the options completely by the end of the lease. If you tot up the cost of the options and the increase in payments, they are probably close to being the same. 

[Anhunedd]

OK, I get the reason, but it actually works out more - in my example above, the leasing company then charges you £4,372 over the term for £3,405 of extras. Not a good deal at all.

 

Hopefully a PCP deal will come out better - there should be some extra residual in my existing car as it has barely moved in 15 months!

[J.R.]

They will also have negotiated a discount for ordering a quantity of standard vehicles or those with the spec that they think will most appeal.

[Ianhudson]

I have been told that as Skoda are no longer accepting MY2021 orders that the majority of the pricing is now inaccurate as the pricing isn't set up correctly for the MY2022 models yet.

 

Incidentally where are you looking to lease from as I am trying to get quotations for a 4 year business lease?

[SurreyJohn]

@Anhunedd  I think you have to be careful if you add options taking the price above £35,000 as basically the electric vehicle grant doesn’t apply to vehicles over that amount, so the £2500 discount comes off

 

There are some items excluded from what makes up the qualifying price so it is not exactly £35,000 depending on how many on the road costs are included in quote you are using

 

Your Headline £415x48 + £2974 = £22,410

Doesn’t seem much of a discount vs simply paying £31,995

 

If you bought it instead, at least you would be able to keep it for few years, and even if you kept it 10 years would have finished paying for it in sixth year at the rate being charged

 

 

[Anhunedd]

Thanks for the replies. I ended up going with a PCP deal anyway - had a decent enough residual on my existing PCP lease to provide a down-payment, pushed a decent enough deal as I was taking a car from dealer stock which wasn't perfect in terms of options, but close enough, and will be collecting it in the next couple of weeks. In fact, it's a bit of a race between the dealer to make the car available and PodPoint to install the home charger. I suspect the dealer is going to win which might be awkward...

[BoxerBoy]

On 04/07/2021 at 10:36, Anhunedd said:

Thanks for the replies. I ended up going with a PCP deal anyway - had a decent enough residual on my existing PCP lease to provide a down-payment, pushed a decent enough deal as I was taking a car from dealer stock which wasn't perfect in terms of options, but close enough, and will be collecting it in the next couple of weeks. In fact, it's a bit of a race between the dealer to make the car available and PodPoint to install the home charger. I suspect the dealer is going to win which might be awkward...

 

Slightly off topic - a friend and her husband recently bought an ID3 and doesn't have a home socket. And they have a very steep short drive to an unused garage and when I asked about a home socket she didn't really have an answer. Other than "we think we'll get one". Goodness knows how that will work at their location.

 

And they were heading to Devon on a holiday in their second week of ownership and expecting to experience public charging points as an introduction to EV motoring.

Haven't heard how that went.

 

And way off topic - I checked in to a wayside hotel last night and noticed that a lot of "guests" were coming and going in Teslas.  Then I discovered there's a bank of Tesla charging points round the side of the hotel.  Made me chuckle.

[Anhunedd]

You mean it isn't one of those "self-charging" cars? 

 

The dealer has won the race. I will have the Enyaq 13 days before the wall charger. Rural area means nothing over 7kW closer than 20 miles away that I can find, so this is very much into the deep end about planning routes that can take advantage of when I do venture towards them. Luckily no need to daily commute at the moment.