Mitsubishi Outlander PHEV Forum

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 Post subject: End of lease
PostPosted: Thu Dec 06, 2018 1:21 pm 
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Joined: Tue Jan 12, 2016 6:37 am
Posts: 436
Location: Bucks
About 18 months ago, I posted that I'd talked to Lex about buying my company car at the end of its 3 year lease-rental, but they told me this was not possible. As the lease is up in a few more weeks, I tried again and this time they are prepared to sell, but not to me. It seems they can't sell a company car to a director or their spouse (I'm the sole director of my one-man company) - I think it may be because this would turn it into a lease-purchase and mess up their tax/VAT accounting. So my brother is going to buy my PHEV and sell it back to me the next day :).

Looks like I'll be hanging around this forum a while longer ...

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 Post subject: Re: End of lease
PostPosted: Thu Dec 06, 2018 1:40 pm 
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Joined: Fri Jul 25, 2014 12:09 pm
Posts: 329
Location: Glasgow
Are you going to let him drive it? Do you really trust him?? (Just in case he decides he likes it.... :lol: )

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 Post subject: Re: End of lease
PostPosted: Thu Dec 06, 2018 2:28 pm 
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Joined: Tue Jan 12, 2016 6:37 am
Posts: 436
Location: Bucks
If he wants it that badly, he can have it :) Actually, he's a Prius driver and hasn't really got room for a larger car.

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 Post subject: Re: End of lease
PostPosted: Thu Dec 06, 2018 2:41 pm 
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Joined: Wed Sep 12, 2018 4:17 am
Posts: 7
Hi, out of interest (I don’t want details) but was it a good deal? My last car I tried to buy from lex at end of lease and it was a ridiculous price; others have got reasonable deals though.


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 Post subject: Re: End of lease
PostPosted: Fri Dec 07, 2018 2:26 am 
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Joined: Tue Jan 12, 2016 6:37 am
Posts: 436
Location: Bucks
I've only had Lex's initial offer, with a hint that they would be willing to negotiate 'a bit'. Almost exactly £20k for a 3yo with 23,000 miles which is towards the top end of what Autotrader and Parkers have on offer. It's obvious that they won't get anything like that by passing it on to a car auction (BCA), but we'll see how much hard ball they're prepared to play.

From my perspective, I could:

- Let it go to auction and buy it back, almost certainly cheaper (and if I were lucky, quite a lot cheaper), but that means being without it for a few weeks (I imagine - it's over Christmas and New Year, unfortunately, so probably longer than normal), with issues for keeping the insurance going - and needing to travel to the auction centre which isn't that close by.

- Buy a new car - tempting, but obviously a lot more money.

- Buy a second-hand car, but then I don't know the history.

So I expect I'll choose the easy option and buy it from Lex.

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 Post subject: Re: End of lease
PostPosted: Fri Dec 07, 2018 3:42 am 
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Joined: Wed Aug 06, 2014 7:02 am
Posts: 149
Try getting a quote from webuyanycar.
We had a similar situation last year albeit my company (my wife and I) owned the car so negotiating with ourselves.
Wanted the lowest justifiable price from any source and webuyanycar provided it .
I suspect their models rely on people being desperate for cash at Christmas so prices drop.


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 Post subject: Re: End of lease
PostPosted: Fri Dec 07, 2018 3:52 am 
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Joined: Tue Oct 18, 2016 10:19 am
Posts: 70
Location: Warwickshire, UK
I'm encouraged by that valuation as I'm looking to trade mine with similar age and mileage for a 19MY in the next few months.


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 Post subject: Re: End of lease
PostPosted: Fri Dec 07, 2018 4:18 am 
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Joined: Tue Jan 12, 2016 6:37 am
Posts: 436
Location: Bucks
Webuyanycar quoted just over £17k, but that's a buyer's price not a seller's (and their business model is to make a lowball offer, though they'll automatically up it by a few hundred after a week, if you wait). But for your purposes, gobiman, that's just what you needed :)

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 Post subject: Re: End of lease
PostPosted: Fri Dec 07, 2018 7:11 am 
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Joined: Mon Mar 12, 2018 2:18 am
Posts: 210
Location: Yorkshire end of M1, UK
Our 3-year-old 4hs was £17k when we bought it from a Mitsubishi dealer. The mileage was a bit higher, but so was the spec. I would hope that the Lex price would come down by at least 10%

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 Post subject: Re: End of lease
PostPosted: Fri Dec 07, 2018 7:30 am 
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Joined: Tue Jan 12, 2016 6:37 am
Posts: 436
Location: Bucks
£17k is a very competitive price, having had a look at the major car trading sites. It's noticeable that the pre-facelift models are a fair bit cheaper, is that because the warranty changed at the same time?

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