New car leasing tricks – this is how cheap it is not to buy a car
Leasing has long been worthwhile for private drivers, too – especially if they like to drive a new car and want to change models more frequently. But for the customer, the market is difficult to navigate. The messages of complaint from dealers and manufacturers are of no help. They advertise a strikingly low monthly rate, but this often accounts for only part of the total costs.
the leasing factor offers a good orientation, it divides the total costs of the car on the months and puts them in relation to the list price of the car.
"Simply put, the leasing factor tells you how much you get for your money, says lukas steinhilber, co-founder and managing director of the leasing portal vehiculum.De. "Basically you can say: the lower the leasing factor, the better the offer."
The factor is calculated by dividing the monthly rate by the list price of the vehicle and multiplying the result by 100. But be careful, you have to make sure that all factors that are relevant for the rate are the same in the offers. These factors are the term and mileage of the offer, the list price of the vehicle, and any special payments at the beginning or end of the contract. Only if these characteristics are identical for the offers to be compared can they be compared with the leasing factor.
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There are other factors to consider: the lowest values are obtained for vehicles that are experiencing sales difficulties or for cars at the end of their life cycle, for which a better successor has already been announced. A particularly sought-after model will always be more expensive. Remember also: the entry price is always an entry price. A VW golf can be leased for under 20.000 euro, but it is also no problem to get 40.000 euros. leasing rates fluctuate to the same extent as list prices. Even a correctly and fairly stated monthly rate only applies to the advertised vehicle – extras become more expensive.
Nevertheless, the range of the leasing factor price indicator is astonishing. "The factor varies from manufacturer to manufacturer. With some there is hardly an offer under 1,0, while others offer partly even offers with a leasing factor of 0,2. However, the vast majority of offers from popular brands have a leasing factor of between 0.8 and 1.2." if you are looking for a new car at a reasonable price, you can hardly go wrong with a leasing factor of less than 0.5, even if you don’t get the car you want. Currently, vehiculum offers a seat ibiza for 69 euros a month, while the seat arona SUV costs just 89 euros. "With these attractive offers, people are naturally more willing to make a deal than usual, because in case of doubt they spontaneously decide in favor of a car due to the low costs" says steinhilber.
More often something new
If you want to configure a vehicle completely yourself, you have to reckon with a surcharge. Pre-configured vehicles, where nothing can be changed, or the choice of "extras", are often cheaper are severely limited. For customers who are not special car lovers with special preferences, these offers are attractive. Real special requests cost twice. Two values are decisive in leasing. One is the list price at the time of order, the other is the so-called "residual value". The residual value is determined by the condition of the vehicle – but also by its attractiveness on the market. Standard versions, colors and engines sell better later than unusual special requests.
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For many, however, it is not just a matter of saving money, but rather of regularly driving an attractive new car. "Overall, we have a high proportion of regular customers and those who want to obtain a car quickly and easily without having to go to several different dealers. For these customers, the price plays only a subordinate role, since they are mainly interested in the comfort of purchasing their next car."
Fear of return
If you want to change models regularly, you can hardly avoid leasing. Vehicle replacement every one or two years is simply unaffordable when buying new cars. But many customers fear problems when returning the vehicle. Case law has greatly strengthened the rights of the customer. If you take out a mileage lease and treat the car with care, you need not fear any problems.
"There are no magic tricks. The bottom line is the same as with all other objects: if I borrow something, I have to return it in good condition." common signs of use are covered in the monthly rate. Damage that goes beyond this must be repaired. The expert’s tip. "If you really want to be on the safe side, simply go to an independent appraiser before returning the vehicle. The customer then names all the damages that the manufacturer can officially complain about when returning the vehicle. In our country, however, the return is approved by experts anyway, so you don’t need an additional expert opinion." However, before returning the vehicle, it should be professionally reconditioned. The cost is about 200 euros.
Hybrid and electric vehicles are particularly interesting for leasing. Rapid technical progress and the drop in the price of battery cells mean that e-vehicles are being outclassed more quickly by subsequent models than internal combustion vehicles. "Private individuals are increasingly attracted to alternative drive systems, which are now much more sophisticated than they were a year or two ago. Nevertheless, the future in this area is still uncertain. With leasing, you can try out an electric or hybrid vehicle for a certain period of time without having to commit yourself right away or worry about selling it later on."
Alternative drive systems are on the rise anyway as company cars. "Especially hybrids are currently in great demand, as they are often approved for the 0.5 percent taxation and business people can thus save a lot of money." this means that a hybrid costs the company car driver only half as much as a combustion car with the same list price. The German regulation is not without its comical aspects, because the tax advantage is also claimed if the car is usually only powered by gasoline in operation.