The CONS of Car leasing | Why you shouldn't lease a car

What's the catch with Car leasing? | Why you shouldn't lease a car

So you've seen all the great car leasing deals in my videos and are wondering what's the catch, right? let this video give you some great tips about leasing a car, is it for you? what are the cons of car leasing that you need to be aware of, are the end-of-lease repair charges going to bankrupt you and why can't you find a great car leasing deal on your ideal car.

By the way, one thing I forgot to add to the list is that you can't modify the car!

We look at all these points in this video so please show it some love.

#carleasing #carfinance

00:00 Intro
00:24 Credit Score
01:22 Affordability Check
01:40 End of Lease Return Charges
03:10 Servicing
04:13 Lack of Flexibilty
05:07 Insurance Write-Off Risk
07:25 You Don't Own It!
09:25 Deal Dependency
11:01 Summary
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🚗🚗 𝙈𝙔 𝙇𝙄𝙉𝙆𝙎 🚗🚗
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🔥🔥 𝘼𝙁𝙁𝙄𝙇𝙄𝘼𝙏𝙀 𝙇𝙄𝙉𝙆𝙎 🔥🔥
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Important : This channel tries to deliver honest advice for real people. Remember that I am not a financial advisor or car finance professional and am therefore not qualified to give any kind of financial advice, views shown here are purely my own but you must make your own financial decisions. Always seek professional advice before entering a finance arrangement of any kind and seriously consider your financial position and the long-term affordability of any deal that you may enter into.

All content is the property of NOT A GURU LTD unless otherwise stated. Re-use is strictly forbidden without prior written consent.

𝙋𝙡𝙚𝙖𝙨𝙚 𝙡𝙞𝙠𝙚 𝙖𝙣𝙙 𝙨𝙪𝙗𝙨𝙘𝙧𝙞𝙗𝙚! ;)

[kenwarburton]

Great informative video Jim, highlighting the cons against the pros of car leasing. It's also great to hear some truth and integrity from someone in your line of business. Thanks!

[volt]

Hi, am a few months away from 66 and love the channel and thinking of spoiling myself with my oap😂. My dad was a garage owner with sales and repairs. Taught me a lot about repairs which is largely irrelevant in today’s money. I have never in my life spent more than £2500 on a car for me my wife or my 3 daughters. The last one I bought for me was a petrol berlingo 1.6 7 yrs ago for £2300 with 60k on clock. 17 yrs old and runs like a Swiss watch. No rust and very practical. However I am going to have a new lease car in January and fancying a Vitara. This channel superbly informative

[-jamthesun]

Thanks Jim. I never considered leasing until I saw one of your videos about 6 months ago. I’d had company cars for years then bought my ex company Galaxy which served us really well for years while the kids were smaller. Since then I’ve bought second hand - some great some not so. Watching your videos and doing the maths convinced me. My first lease car is due to be delivered in July. Looking forward to a car with all mod cons for no more than my last second hand car cost (total cost of ownership) me! Huge thanks to you, Leaseloco and ALA! I say that in all honesty I’m not Jim’s best mate honest.

[jasonshaw]

Great information Jim. Much appreciated 👍

[richarddixon]

Another great informative video as always. Following an expensive PCP I decided to lease the next car in 2018 and I got a very nice Volvo XC60 with all the gadgets on a 4 year lease. Back then the only issue I had was trying to insure the car as a lot of the online sites didn’t do lease cars. After 5 years, I got a 1 year extension, the car went back and was asked to pay approx £150. Contacted them and asked they take the lower mileage into consideration and they waived the fee. Finally as the multi billionaire Warren Buffet says buy what appreciates and lease/rent what depreciates.

[gordonchallinor]

Great advice Jim, very clear info keep it coming.

[chrisduffill]

Many thanks for this, clears up a few questions most people should think about.

[Terence-mkjh]

Excellent video with plenty of useful information presented in a straight forward way. Many thanks for all your efforts. You deserve to have far more than 50K subscribers and I'm sure you will get there.

[OldCodeMonkey]

Really useful info on the whole leasing experience. Sound advice and essential knowledge for anyone considering leasing. Makes the whole process far less scary 👏

[chrismawby]

Good advice Jim, I will definitely look at gap insurance with my next lease, up to now I have been lucky with my lease cars.

[adrianwalsh]

Jim, as ever great and honest description..😊

[DavidBoreham-kkdx]

Thanks Jimbo nice and clear mate great info 👍👍👍

[edwardlloyd]

The planets did align for me and I found a Peugeot 408 GT for £310/month over 3 years with zero down and with 10, 000 miles / year which I'm driving now. It was exactly the car I wanted and at a price well below 1% a month.

[mattstell]

I’ve never leased a car, I’m not planning on leasing in the immediate future, I usually buy at 3-4 years old, but I really enjoy your content, the unbiased detail and the offers you cover, it’s made me think maybe leasing could work for me if I fancy something newer in the future, maybe it’s a safer way to enter an electric car? Keep showing those great deals, just subscribed!

[mikadavies]

Your channel is indeed very useful for leasing deals.. BUT... you always take time to explain the positives and negatives. In the past you have always pointed out why leasing MIGHT work for some people and not others. In short NOT JUST A LEASING CHANNEL.

[mfm]

Nice one Jim. Having considered the leasing option I decided it wasn't for me .

Another good one Jim. I leased a Model 3 over 4 years and it concludes next year. Main reason was the rapid tech developments but If I get another Tesla I will probably buy it for a number of reasons you mention not the least being tied in for a long period as anno domini creeps on!

[johndoyle]

Thanks, I negotiate hard and pay cash, yes I know, lost opportunity etc, but I hate loans and finance companies and like to own stuff. Yes, do not get fixated on a particular model.

[mcaf]

Small point you missed out about the servicing is that some leasing companies will stipulate in the contract that you must get it serviced at a main dealer, whereas some are at any VAT registered garage - so definitely worth factoring that cost in before FTK.

I can't recommend GAP insurance enough - my 6 month old lease was written off and there was an £1, 850 shortfall. The GAP insurance paid that out plus an additional £1, 750 as I paid a few quid extra for my initial rental to be covered too!

[johnsamson-snell]

I get it! Shop for the deal not the specific car. So why don’t I see deals on the likes of Aston Martin, Porsche, Bentley Continentals? Haven’t seen them do I’m just having to buy one with my savings then 🤪