Call Us
0845 675 6777
The introduction of the the new 1 Vs. 2 plates in 2103 was supposed to remove the pressure from January sales and spread sales out over the year, but according to our sources in the industry it hasn’t really worked. People still like to change their car for a ’15 at the start of 2015 so it looks new for the full year. In addition dealers are not offering more value on trade ins if a vehicle is 142 vs 141 so there is no benefit to the buyer either. New car sales are up again which is great for the industry with PCP (Personal Contract Plan) deals becoming more and more prevalent even though there are many pitfalls, see Extra Monthly Cost of PCP .
But instead of parting with your hard earned-cash (or, in many cases entering a lengthy PCP agreement) to get your hands on the still-shiny tyres of a brand new model, have you ever considered leasing a vehicle instead?
Let’s take a look at the pros and cons of leasing a ’15 plate vehicle from a specialist company versus buying one.
Consider short term leasing
So, is there a way to get behind the wheel of a 15 plate vehicle of your choice that you actually want to drive and without needing to worry about being tied in to a lengthy contract?
The answer is yes – and it comes in the form of the increasingly popular short term vehicle lease.
Short term car leasing plugs the gap between daily car rental and what we’d call traditional car leasing (think PCPs and Hire Purchase agreements). The typical length of a lease agreement is around 36 months – but short term leasing with Cars on Demand starts from just 28 days.
There are various reasons behind why short term leasing is becoming more common, not least of which is the flexibility that this ‘no commitment’ solution offers to motorists.
And a similar flexibility applies when it comes to short term vehicle leasing for personal use. For example, a 28 day leasing contract – where the car is simply handed back at the end with no cost – is perfect for your city dwelling family who need access to a People Carrier to see them, the kids and the dog through the summer holidays and a few road trips. As their lifestyle changes from season to season, they can quickly and cost-effectively change their car with it.
There are host of other benefits that come with short term leasing, some of which include:
Why buy 15?
As well as the gorgeous and unmistakable smell of your new leather/alcantara trim (you’ve specced it, right?) and untouched alloys, there are many benefits that come with purchasing a brand new vehicle. One of the main purchasing decisions is the fact that you can specify exactly what interior and optional extras that you want – or need – to suit your lifestyle. Bonnet stripes, refrigerators, parking sensors; you name it and most ‘15 plate vehicles will have it listed under ‘optional extras’.
Then there’s the manufacturer’s warranty that usually covers the cost of any repairs should your new car break down, or generally give you any hassle during the first few years of its life. This can be particularly useful if you drive a lot of business mileage or are always up and down the country’s motorways visiting family and friends.
With many new vehicles having increasingly ‘eco-friendly’ engines, the annual ‘pocket-stinger’ that is road tax is being more frequently evaded – as manufacturers produce models that qualify to pay zero road tax or fall under the lowest paid for band.
However, then comes the issue of actually financing the car.
Due to the fact that the majority of new cars massively decrease in value as soon as they leave the perfectly lit collection room (why do they never seem to look as good again?), and the hefty deposits that are often needed, an increasing amount of people are opting to ‘buy’ their new vehicle on finance. In most cases, you keep the vehicle for three years and then either hand it back or swap it for another model from the same brand when your contract is up. Alternatively, you can walk away – but you’ll likely have lost money and won’t have anything (or any vehicle) to show for your 36 monthly repayments.
So when you next see a sparkling 15 plate, just think – with short term leasing there’s the potential to have a new vehicle every 28 days, not just a new number plate!
An interesting article from today’s Independent.ie 18/3/15, by Eddie Cunningham
*Consumers who wait-til-late are getting big discounts
*Opponents say it is distorting real state of the market * Proponents claim it is just another way of selling cars
It keeps coming, and being brought, to the surface by senior executives within the motor industry.
Official figures from the Society of the Irish Motor Industry (SIMI) show there was a 25pc increase (to 15,850) in registrations last month compared with February 2014.
New-car registrations were up 29pc for the first two months of the year.
But the questions being asked with renewed frequency, and without prompting, by several within the industry include:
*How many of those cars had a real, purchasing owner designated when they were registered by the dealer?
* How many were registered late in the month to keep sales and market share up and were sold, as virtually new, one-owner cars, at a substantial discount later on?
* Is that distorting the market and giving a false impression of growth?
* Why would you buy a new car early in the month when it is a racing certainty that the same model could cost €2,000 – €4,000 less two or three weeks later?
* What impact is the lower price of such cars having on the trade-in values of similar models – whether or not they were bought early or late in the month?
* Doesn’t the reduced price set a new lower value all around?
* And doesn’t the ‘early’ buyer lose thousands as a result?
Other senior sources within the business counter all those questions and arguments by stridently claiming that ‘pre-registering’, as it is called, is:
* One of several ways of selling cars in a tough, uncompromising market place.
* A ‘tool’ of the trade – as several sources have described it.
* Substantially benefiting a proportion of consumers who end up saving thousands of euro when they buy later in the month.
They also claim other brands use promotions and deals which are at least as costly to implement as pre-registering.
Those against the practice say they have grown so concerned they feel it could endanger or destabilise the real market.
Peugeot’s Colin Sheridan is the latest to publicly comment on the issue.
“We don’t do pre-registering as a brand,” he said.
“It has such a disenchanting message for those who paid full price (for a car) only a few days earlier,” he added.
And Mr Sheridan claimed it was “not good” in the longer term for the brands who partake in it.
Privately, many other executives who have spoken at length to Independent Motors and other media, took similar stances on the issue.
However, nearly as many have taken the opposite view in discussions too.
What is clear is that the arguments for and against are not going to go away; that the cars are being sold, albeit at subsidised prices in many cases; and that distributors and dealers are finding ways of accommodating it.
From a buyer’s point of view there is good and bad – depending on when they purchase within a given time-frame.
But, with greater consumer knowledge and understanding of how the system works, will more of them defer purchase until the latter stages of the month so they can avail of the discount?
That is just one of many questions being asked.
For the record, the number of cars registered up to March 15 was 3,983 (last available update).
With under two weeks to go to month’s end that means there is still a lot of ground to be made up to match or outstrip the figures (14,294) for all of March last year.
As we said here recently; it could be the best two weeks of the year to buy with such pressure on sellers to meet targets.
Indo Motoring
Is this a really difficult question or a really easy one?
Let’s assume a few things first. Family cars must be safe, have space and be fuel efficient, that’s a given. So where do we go from there?, well here’s our top 7 must haves;
Ok before we get into some details and a couple of quirks in the debate let’s end the argument straight away……….
Auto is better……end of. Why would you want to have to change gear yourself when a machine can do it for your perfectly?
In 99% of cars there is no reason to have a manual gearbox and please do not tell me that it feels like you’re more connected to the car in a manual. 99% of us drive mundane cars day in day out and a manual gearbox does not enhance the drive in any way shape or form. If you want to enhance the drive buy a sports car …..with an auto box.
A manual gearbox is a distraction to most people, drivers on Irish roads are bad enough without having to think about what gear they are in or holding the clutch in a hill with a) burning it out or b) rolling backwards in a hopeless attempt to get going again.
Auto’s don’t break any more, they know what gear you should be in better than most people know and are actually better for fuel consumption and the life of the gearbox /engine themselves.
There are some exceptions………………….
1) Citroen’s- They must make much more money on a manual car, it is the only explanation for how bad their auto box is, really they are that bad.
2) The following cars;
Maxda MX5/Honda S2000/ BMW Z3 M (1999-2000)
TVR’s (no auto option available ever in any of their cars and rightly so)
Ferrari F355- In fact any Supercar built before the Ferrari F430
Any hot hatch from the 80’s, 90’s & 00’s
Ed.
