So my family has always paid upfront for cars. And I always heard that leasing is the more expensive way to finance a car. But can anyone explain for example why this leasing with Hyundai is a bad idea? What is the catch? It’s 0% interest rate with a non obligatory down payment?
https://www.hyundai.com/ch/fr/power-leasing_1223.html
Exemple: IONIQ 5 Vertex®, 77.4 kWh, 4WD, puissance du système: 239 kW (325 ch) avec jantes 19”. Autonomie: 481 km. Consommation mixte normalisée: 17.9 kWh/100 km, émissions de CO₂: 0 g/km, cat. de rendement énergétique: A. À partir de CHF 240.–/mois – Conditions de leasing: taux d’intérêt effectif: 0.1 % sur tous les modèles et toutes les versions (sauf i20 N, i30 N, KONA N et IONIQ 5 N). Durée: 36 mois, première grosse mensualité (facultative) de leasing: 33 %, valeur résiduelle: IONIQ 5, IONIQ 6: 55.6 %, all-new KONA Electric, TUCSON Plug-in Hybrid: 48.3 %. Kilométrage de 10 000 km par an, casco complète non comprise. L’octroi d’un crédit est interdit s’il est susceptible d’entraîner le surendettement du preneur de leasing. Une offre de Hyundai Finance. Organisme proposant le leasing: Cembra Money Bank AG, Zurich. Valable pour une conclusion de contrat entre le 20.12.2023 et le 29.02.2024 ou jusqu’à nouvel ordre. Immatriculation jusqu’au 20.03.2024. Sous réserve de modifications. Illustrations: photos symboliques. Les valeurs indiquées peuvent varier en fonction du modèle et de la variante. Sous réserve d’éventuelles erreurs ou omissions.
by hamster_of_war
2 comments
Not a bad offer in terms of the interest rate but the first rate is very high (33%) to make the monthly rate look good. The Vertex starts at CHF 66’900 which means the first rate is about CHF 22’000.
As long as you don‘t fall into these traps, this offer and leasing in general should be okay (especially with a 0% interest rate).
1. Don‘t get a more expensive car just because you can afford the payment. You pay for the car‘s depreciation no matter whether you‘re leasing, financing or paying up front. Spreading the payments makes you less aware of the loss.
2. Be aware of the inflexibility of car leases. If you have to return a car before the end of their lease term (i.e. job loss, moving abroad, no need for a car anymore), you have to pay another large payment.
3. Be aware that when you keep getting brand new cars again and again every few years (as is common when leasing), you‘re always using cars during the part of their lifecycle where they depreciate the most. This is extremely expensive.
4. I‘d agree to a small down payment (or none at all) if possible. If you don‘t, you get used to a small payment that really isn‘t representative. When the lease ends, you won‘t be able to lease with a similar payment again if you haven‘t saved up for a new down payment.