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Discussion Starter #1
Hi,

Has anyone put in an order via a leasing company? I'm looking to lease through my business and was curious to know if the delivery times would be similar to buying direct (ie December 2020?)?

Also in terms of deals, the best I can find is £359 ex VAT p/m on 9/35 with 8k miles, found on Contract Hire & Car Leasing Comparison Site | Leasing.com.

Cant decide whether to order now or see if prices come down. That price is super competitive IMO - way cheaper than a Long Range Model 3...
 

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£359 sounds suspiciously cheap. One ev specialist leasing company told me they couldn't get any cars on their own account, the only was for me to put in an order and pay the deposit, and then the finance/leasing could be arranged nearer to time the car was due to be delivered.

I subsequently decided to buy the thing outright, so I can't say what would have happened.
 

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Business leasing prices on PS:2 seem to be very good regardless of the broker for the most part. The best thing to do is call a few and get a feel for the dates, to see which ones are lying to get an order, vs. being realistic. Usually there will large car lessors like Lex who will buy X hundred cars with some already sold, and others will be offered out to brokers if they don't move them all before delivery time.
 

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Discussion Starter #4
£359 sounds suspiciously cheap. One ev specialist leasing company told me they couldn't get any cars on their own account, the only was for me to put in an order and pay the deposit, and then the finance/leasing could be arranged nearer to time the car was due to be delivered.

I subsequently decided to buy the thing outright, so I can't say what would have happened.
That's the cheapest I've found but there are several dealers offering similar pricing. No idea why they are so much lower than a model 3.
 

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Yes, thinking about it, I was quoted prices inclusive of VAT so not far off what you have seen. Surely the only reason they can be so much cheaper than a TM3 is the residual value after 3 years or whatever period - they must be assuming a lower depreciation from new for the P2.
 

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Discussion Starter #7
Yes, thinking about it, I was quoted prices inclusive of VAT so not far off what you have seen. Surely the only reason they can be so much cheaper than a TM3 is the residual value after 3 years or whatever period - they must be assuming a lower depreciation from new for the P2.
I'm not sure if maybe tesla don't offer deals for bulk purchases by leasing companies, but most OEMS do?

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Polestar are subsiding business leases. Their personal lease is £100 more :-(
Seems an odd tactic to alienate a large part of your target buyers!
I certainly won't be leasing while I feel I'm being ripped off as there are cheaper deals for some.
 

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It's also a matter of considering the strong residuals of EVs. My Kona Electric has lost almost nothing since I bought it 16 months ago, though that's partly down to a price increase shortly after I bought mine, but even so. I'd have thought the Polestar 2 will probably still be worth at least 60% after 3 years, quite possibly more privately. That makes it cheaper to buy outright than lease in many cases (for those that are able to). Tricky!
 

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Seems an odd tactic to alienate a large part of your target buyers!
I certainly won't be leasing while I feel I'm being ripped off as there are cheaper deals for some.
Business quotes are always made not including VAT - are you sure that is not accounting for much of the difference?
 

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Hi,

Has anyone put in an order via a leasing company? I'm looking to lease through my business and was curious to know if the delivery times would be similar to buying direct (ie December 2020?)?

Also in terms of deals, the best I can find is £359 ex VAT p/m on 9/35 with 8k miles, found on Contract Hire & Car Leasing Comparison Site | Leasing.com.

Cant decide whether to order now or see if prices come down. That price is super competitive IMO - way cheaper than a Long Range Model 3...
One other thing to remember, if you are getting the car though your business, is that ev's are allowed first year capital allowance, i.e. you can write off the whole value against corporation tax in the first year. Saves at least £9K. Of course, you need to be making taxable profits to benefit. Just a thought.
 

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I had a quote back from OctopusEV and contacted Zen.Auto for a comparison and received a reply back saying 'this isn't something we offer' when I asked what that actually meant as the car is listed on their site they said that the limited delivery slots were being given to dealers rather than fleet providers, considering there's no actual dealers just Polestar direct I'm assuming Zen aren't fussed!

Has anyone used a leasing company in the past they would recommend?
 

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Discussion Starter #13
Looks like Polestar have pulled their vehicles from most leasing companies, or someone has got their numbers VERY wrong. All the leasing companies I spoke with today have either hugely revised their prices or pulled them :cry:
 

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As I understand it Polestar have now reached their quota to the end of the year of leased cars so the chances are no-one will get cars on lease now except from companies willing to simply buy them and then lease them out...
 

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Hi,

Has anyone put in an order via a leasing company? I'm looking to lease through my business and was curious to know if the delivery times would be similar to buying direct (ie December 2020?)?

Also in terms of deals, the best I can find is £359 ex VAT p/m on 9/35 with 8k miles, found on Contract Hire & Car Leasing Comparison Site | Leasing.com.

Cant decide whether to order now or see if prices come down. That price is super competitive IMO - way cheaper than a Long Range Model 3...
That is a really good price.
 

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It's also a matter of considering the strong residuals of EVs. My Kona Electric has lost almost nothing since I bought it 16 months ago, though that's partly down to a price increase shortly after I bought mine, but even so. I'd have thought the Polestar 2 will probably still be worth at least 60% after 3 years, quite possibly more privately. That makes it cheaper to buy outright than lease in many cases (for those that are able to). Tricky!
This subject of whether it is cheaper to buy outright or lease is one I have been mulling over a lot recently, without necessarily a clear financial advantage either way.
Taking your suggested depreciation of 40% over three years indicates a cost of circa £18,000 when buying the base model outright, or £6,000 average per year.
Leasing at, say, £500 per month with a deposit of £4,500 comes to £22,500 over the same three years, but you need to factor in the loss of interest on the £46,900 cash paid for the car.
If investing £46,900 on the stock market, with a modest 5% p.a. return would mean the cost of buying for cash is something nearer £18,000 plus £6,900 in interest lost over 3 years, so a total of around £24,900.
So leasing looks better value in this example, but different levels of depreciation would change the numbers significantly (up or down).
ultimately, I prefer leasing, for the reasons given above but also because I would prefer to just hand the car back at the end of the term, rather than have a depreciating asset that I have to sell or part exchange on a new car.
 

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I think most people would be very happy with 5% on the stock market for the next 4 years given the current crises! And let's be honest, most people wouldn't do that - they might stick it in an ISA and get a few percent at best.

I'm not a fan of leasing as it means you're completely tied in and if there's any change in circumstances that means you need to change the car, the penalties can be in the thousands.

I think its a fairly close-run thing, but for me buying outright (using a 0% offer on a credit card instead of a bank loan for part of it) gives me complete flexibility.
 
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I think most people would be very happy with 5% on the stock market for the next 4 years given the current crises! And let's be honest, most people wouldn't do that - they might stick it in an ISA and get a few percent at best.

I'm not a fan of leasing as it means you're completely tied in and if there's any change in circumstances that means you need to change the car, the penalties can be in the thousands.

I think its a fairly close-run thing, but for me buying outright (using a 0% offer on a credit card instead of a bank loan for part of it) gives me complete flexibility.
It’s true of course that markets go down as well as up, but 5% over 3 years is fairly conservative.
My other reason for leasing a P2, as opposed to buying is that I am sure the EV market will look very different in three years time with a large number of options available in terms of new EV’s with greatly increased range compared to today.
That might make a 3/4 year old P2 (or Tesla M3 for that matter) a significantly depreciated asset.
 
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