View Full Version : Can you buy a new car on lease hire in Tenerife?
I am looking at buying a new car soon and have been told that it is tax effective to purchase via a lease hire agreement. My understanding of this is only how this works in the UK:
Lump sum upfront
Monthly payments for 3 years
Balloon payment to take ownership or trade in the car for a new one and continue with monthly payments
The benefits to this are apparently a tax saving and the car is always under warranty. Whats the equivalent in Tenerife? Is there one? I keep being told there is but have yet to find any online. Also a friend if mine is looking to do the same. We are both looking at Berlingos, Picassos etc - that sort of thing for work.
The benefits to this are apparently a tax saving and the car is always under warranty. Whats the equivalent in Tenerife? Is there one? I keep being told there is but have yet to find any online. Also a friend if mine is looking to do the same. We are both looking at Berlingos, Picassos etc - that sort of thing for work.
Tax savings for companies, I believe, in that you can defer profits if reinvested in the Canaries in the following four years (don't think individuals can use these exemptions)
Yes, you can get financing in any dealer, just works out very expensive in the end ...
How does it compare to the UK version then? Do you get to switch cars at the end of the term do you know?
No good deals due to the massive drop in car sales? I don't really have time to get into the dealers during the day - any of these places open on a weekend?
caliente
29-07-2011, 19:59
What kind of trade are you in? i think type of vehicle will be important because of tools etc. If you sell ice cream then you need something bigger than Berlingos.
For what its worth i think new cars are a total waste of money. Just my opinion though. rolleyes2:
I have looked at second hand cars, 2 and 3 years old and its very tempting just to buy new. Would be better with a lease option though so I can change it every three or four years and always have it under warranty.
How does it compare to the UK version then? Do you get to switch cars at the end of the term do you know?
No good deals due to the massive drop in car sales? I don't really have time to get into the dealers during the day - any of these places open on a weekend?
I'm afraid I don't know the answer to that ... I would expect dealers to be at least open on Saturday mornings (after the Ice Cream round :lol:)
What kind of trade are you in? i think type of vehicle will be important because of tools etc. If you sell ice cream then you need something bigger than Berlingos.
For what its worth i think new cars are a total waste of money. Just my opinion though. rolleyes2:
CIM, are you moonlighting as an ice-cream salesman too.... :rofl: :rofl:
bonitatime
29-07-2011, 22:02
I think renault in Guaza have a deal like this as I worked with someone who had a car from them was making payments and then later they phoned trying to find him for what was described as a final payment.
slodgedad
29-07-2011, 22:11
I'm sure the same kind of deals are available here.
Looking through the Spanish press at the car deals there are a few that offer a finance deal with a final lump sum payment.
I don't know what the drawbacks or advantages are though.
Must be similar as the car still has a debt at the end of the finance period.
timmylish
29-07-2011, 22:37
They all do one for business clients only. eg.at the moment Ford are doing a deal on Kuga,s (and other models) with an initial sum, then 25 monthly (or 37 monthly) payments then a balloon payment. If you play around with the following site you will be able to follow, as long as your Spanish is fair to good! Its relatively easy to understand.
http://www.ford.es/SBE/Configuradordevehiculos/ConfigureVehicle/p=1204907702454
I,ve seen most other companies doing the same. I should say however, your desire to have 3, 4 or 5 year guarantees can be got with such deals if you press them on the subject. As I told you all last October we got Mrs. T. a new Fiesta on 2 yr. 0% finance with a full five year guarantee. I am sure that you would agree that this is the best deal of all since we are paying no interest at all and have the car under warranty for 5 years.
Thanks for that link Timmy - IŽll take a look. Just want to have a good look around a compare options before I buy.
I want something biggish like a Berlingo/Picasso/C-Max etc as it is just easier with all the baby gear we now have and also for clients on property viewings.
Need to look into any special deals/options for autonomoŽs and also insurance as I will be carrying clients.
caliente
30-07-2011, 08:09
Is your friend who is purchasing with you also an estate agent in Torviscas?
Both of you should be able to get a really good deal for both vans and Im sure dealers will do anything to do a deal.
Good luck to you and YG if he's who I think he is. Tell him a van is far different from a combine harvester. rolleyes2:
My friends bought a peugot van similar to the Berlingo from the garage in San Isidro. He hadthe cash but it worked out cheaper to buy it on the finance option, after 3 years you can trade the vehicle in for a new one and just carry on paying, it is the same as the leasing option in the UK as he bought it for business use. He does however speak fluent Spanish which made life easier for him at the garage.
All the garages ie ford renault etc have this option you just need one with a commercial section.
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