Buying vs Leasing a Car! (Pros & Cons!)
Вставка
- Опубліковано 22 сер 2024
- Buying, Financing, Leasing a car? Free Car?
In this video I breakdown leasing different cars and explain why leasing is seen as beneficial to so many people. I have seen a lot of these "I got a free car" videos and decided after receiving questions that I would make this video to explain what this really means. How can the car be seen as free, and what really makes sense when it comes to buying or leasing a car.
If you need any more help or advice comment below and I will answer as soon as I can.
----
►Where to follow Me:
Instagram: / joshuatharby
Facebook: / joshuatharbytax
Facebook Property Tax Secrets: / propertytaxsecrets
Website: jsmpartners.co.uk
Schedule a Discovery Call: www.bit.ly/cal...
LinkedIn: / joshuatharby
Spotify or Apple Podcasts: anchor.fm/the-...
----
Thank you for watching this video-Please Share it. I like to read comments so please leave a comment and…
► Subscribe to My Channel: www.youtube.co....
Great video Joshua. Certainly explains both ends of the spectrum from cheap run around to brand new car, but what about those who may wish to lease something that's already a few years old and has already lost its value from being driven off the forecourt? Are they still worth leasing?
I leased a merc and it was the worsted experience I ever had It came to hand back the car and a Guy arrived from Merc finance and he went over the car with a fine tooth comb he was there over one and a half hours taking pics of every thing including the jack I said I would never do it again I run nice cars which i buy from main dealership I always buy around 3 years old with Warranty and I buy it on HP at the end of the deal i own a car at roughly 50% of the price paid It works for me and I dont have the issue of handing back also if you go over the milage agreed you will get stung by the rental company
Any danger in a bit of punctuation there mate?
@@sunilgill5874 if i cant spell it i wont use it lol
on the 15% ROCE ; this is gross return. Need to factor in HMRC liability (eg corp tax of c19%) reduces the ROCE to 12%. Then you have BIK to cough up as well which reduces the ROCE.
PS: 15% is a very optimistic return on standard BTLs. You could only achieve this in investment with a higher risk rating which is beyond most BTL landlords risk appetite.
PPS: I agree with MRSmiths comments - better of buying 2 to 3year old car where depreciation has already happened. And no excess mileage to pay or valuations impacted due to the inevitable dings and dents on the bodywork which will be costed at maximum value
You have also missed another important point when you extract profits from your BTL its classed as a profit which is taxable The way I do it is I run a travel log and clim millage which pays my HP and thats tax free simple works best IMO
Certainly makes a good case, However, there are some numbers missing. Does that lease figure used allow for servicing and maintenance? Because if you owned it, (to get the best value on selling it), you'd need the full service once a year at BMW and the 6 month interim service. That would add a fair bit of extra cost to buying it privately but also what would the same add to a lease cost ? Possibly make the gap between private and leasing even bigger ?
Yeah that would definitely be something to consider, some lease agreements will include all maintenance for a higher monthly fee, but it usually comes much cheaper than if you were having to maintain the care yourself to later sell on.
How and where to invest up to 200 K from limited company cash
No clued up investor would pay list price. A 30 second google search shows the 330i at £34,700, you can buy a new 840 for 59k on autoebid. Principal of hanging onto your cash and putting it to work doesn't change but if you can purchase using finance at 2-3% it would be a little more comparable. Great videos btw.
Thank you Ben, Yeah it's always worth doing your research
V good video keep it up. Hopefully you have a PCP one too..I’ll have a look
I did exactly as on the video with only one exception... The company I invested with literally stole all our money 💰💰💰😭 in that case if I bought a car at least I would be left with THE CAR 😂😂
Lease is for the uneducated I am a large Landlord for over 32 years and I never never buy a new car I do but a Luxary car and Run a Bentley which is on HP If you lease you are renting a car and every penny you pay you lose just about 100% Your paying for deprecation and VAT I buy only from main dealership let me give you the figs on my last car which i owned for 5 years 40k and in 5 years i got 18k so i lost 22k for five years i carried on the warranty for 900 a year so with warranty and deprecation it cost me around 26k but I still had the 18k to buy another car if i had bought that car new it would have been 80k and if i had leased it for 3 years the Ballon would have been around 45k so its lost 35k plus i would have mileage restriction if i went over the agreed millage Lease makes the Garage money Not you Dont Lease buy a fantactic low mileage car and stick a private plate on it believe me the Bentley i own now I only borrowed 40% of its cost