Look at the total cost over the 3 years. On that deal it's about 12.5 k.
The extras on the car sound pretty nice. The sunroof and nav high come to about 1.5k. The thing I've found with a lease is that the 1.5k in extras can total more when leasing.
The IMG deal with no options is around 7k for 24 months. With VWFS you do get the option to extend. Depending on mileage and age of vehicle it can be at cheaper rate too.
I was lucky enough to get on the original deal £249, which is just under 6k. I added over 1.6k of extras which actually translated to 2k+ onto the total lease.
And when I called IMG last week to ask about MY19 changes they were suggesting January lead times.
Yes. And 12.5k over 3 years does sound a lot.
If I were to go with IMG instead like you said with no extras, if I assume for a minute that they didn't give me a reduced monthly rental price for an extra year, say, that I extend by, the total cost goes to £10,404. So just under £2,000 less.
I bought my car last year for £17,990 (64 reg / MY14). I've done just under 6,000 miles in it so far since I got it (and also new clutch etc but that was all free under warranty).
It's going to need 2 new front tyres before its MOT. If I go PS4S, that's £360.
In that time depreciation seems to have hit this car pretty hard and now it's valued at around £14,500 under private sale. Might be worth more considering the fact that it has so few miles and has a couple of extras like sunroof and the convenience pack (that I didn't think was included during MY14?).
So for the past year of having my car the depreciation has cost around £3,000-£4,000 and new front tyres. Plus it'll need MOT and service in August.
So around £4,600 I've lost on this car in a year. If I assume that depreciation hits harder once the MK4 releases, after 3 years I could assume that this rate would be sustained. Looking at 2011 Cupra's now, they're going for under £10,000. I can only assume that will be the same for mine in a couple of years.
At the end of next year I could realistically have my loan paid off (much earlier than the 5 year loan I signed up for), at which point I'll have a car worth around £10,000-£11,000 I would think.
Does anyone else think that this sounds accurate?