Zenith Car Leasing

Justanotherstar · Post by **Justanotherstar** » 16 Jul 2016, 15:32

TrueBlueTerrier wrote:
Creditshampoo wrote:£71 a week and you dont even own the car hahahaha
Jesus what are you doing
Not paying for insurance

Is insurance covered in the weekly cost of the car then?

Chewster · Post by **Chewster** » 16 Jul 2016, 17:32

Justanotherstar wrote:
TrueBlueTerrier wrote:
Creditshampoo wrote:£71 a week and you dont even own the car hahahaha
Jesus what are you doing
Not paying for insurance

Is insurance covered in the weekly cost of the car then?

Yep

Justanotherstar · Post by **Justanotherstar** » 16 Jul 2016, 19:04

Hmm, not sure if I like that or not...at first it seemed great but if you're dependant on what they want to charge and their terms could be a bit shitty

DocketLefty · Post by **DocketLefty** » 17 Jul 2016, 11:00

I'm still debating it.

swpostie · Post by **swpostie** » 18 Jul 2016, 04:50

Assuming salary sacrifice is the same as for the cycle to work scheme than you are accepting a pay cut and a corresponding reduction in pension (directly with regard to the defined benefit pension and indirectly, due to reduced contributions, with regard to the defined contribution scheme).

Also, if it's the same as the bike scheme, it's at Royal Mail's discretion whether they put your wages back up after the lease has finished - in practice they do but in theory they don't have to.

toomuchcoke · Post by **toomuchcoke** » 18 Jul 2016, 10:22

swpostie wrote:Assuming salary sacrifice is the same as for the cycle to work scheme than you are accepting a pay cut and a corresponding reduction in pension (directly with regard to the defined benefit pension and indirectly, due to reduced contributions, with regard to the defined contribution scheme).

Except, as has been said multiple times in multiple threads, C2W doesn't reduce your pension contributions as they're calculated on your gross basic pay and not your gross basic pay less C2W.

If you're on a 39 hour contract (and have been here ≥12 months), then you're gross basic pay is £412.30. If you're paying in at the 6% level into the defined contribution pension scheme, then your pension contribution is £24.7 . (£24.74/£412.30 = 6%!) Those are the figures that are on my most recent payslip, however there's also an line reading "Cycle to Work Phase 6 : -11.12" because I'm currently using C2W however we can clearly see that my pension contributions are not being reduced.

rottathehutlet · Post by **rottathehutlet** » 18 Jul 2016, 12:41

Before anyone considers doing this bear in mind that you have to wait 3 months for the car! I ordered mine 3 weeks ago and still haven't received an actual delivery date, just an estimate of 13 weeks! So I am now cancelling...

Justanotherstar · Post by **Justanotherstar** » 18 Jul 2016, 21:10

rottathehutlet wrote:Before anyone considers doing this bear in mind that you have to wait 3 months for the car! I ordered mine 3 weeks ago and still haven't received an actual delivery date, just an estimate of 13 weeks! So I am now cancelling...

When you phone them to cancel I bet they'll magically come up with one

rottathehutlet · Post by **rottathehutlet** » 19 Jul 2016, 13:42

When you phone them to cancel I bet they'll magically come up with one

I wish they had, but they weren't bothered at all!

catch22 · Post by **catch22** » 20 Jul 2016, 21:52

Just got my pegeout 208 £51 a week. No need to stress over extra costs.

Ive always had older cars. I pay £2/3000
I recently bought 2 older cars. Approx 8 years old.
1 car broke. So whilst it was being repaired we ran the other.
The first car was fixed. The second car broke. In the 6 month period i paid £1500 to mot, tax, insure and repair these cars.
6 months later one car is no longer driveable. I lost £2500 on it and its broken on my drive.
I will pay less than this for my new Peugeot and although i may not own it, i can still guarantee i will be getting to work tomorrow.
And what is the point. Buying and. Maintaining an older car to breakdown on me.

Nondescript · Post by **Nondescript** » 20 Jul 2016, 23:20

catch22 wrote:Just got my pegeout 208 £51 a week. No need to stress over extra costs.

Ive always had older cars. I pay £2/3000
I recently bought 2 older cars. Approx 8 years old.
1 car broke. So whilst it was being repaired we ran the other.
The first car was fixed. The second car broke. In the 6 month period i paid £1500 to mot, tax, insure and repair these cars.
6 months later one car is no longer driveable. I lost £2500 on it and its broken on my drive.
I will pay less than this for my new Peugeot and although i may not own it, i can still guarantee i will be getting to work tomorrow.
And what is the point. Buying and. Maintaining an older car to breakdown on me.

Sometimes you get lucky though. I bought a nine year old Nissan for 950 quid and it ran for six years, with the only repairs needing doing to it in that time being two new tyres, the reversing bulb, a windscreen wiper and a replacement fan belt.

2pints · Post by **2pints** » 21 Jul 2016, 07:00

So when you need the car servicing do you have to go to a certain garage for it?

Post by **fb1969** » 21 Jul 2016, 07:03

The servicing is arranged through Zenith, the leasing company.

It is essentially a company car, reading the blurb this means it must be kept it a decent standard at all times. No smoking is allowed in the car, and a "no smoking" sticker must be displayed (all in the information booklet). I wonder how many people will make sure that happens!

Justanotherstar · Post by **Justanotherstar** » 21 Jul 2016, 19:03

Nondescript wrote:
catch22 wrote:Just got my pegeout 208 £51 a week. No need to stress over extra costs.

Ive always had older cars. I pay £2/3000
I recently bought 2 older cars. Approx 8 years old.
1 car broke. So whilst it was being repaired we ran the other.
The first car was fixed. The second car broke. In the 6 month period i paid £1500 to mot, tax, insure and repair these cars.
6 months later one car is no longer driveable. I lost £2500 on it and its broken on my drive.
I will pay less than this for my new Peugeot and although i may not own it, i can still guarantee i will be getting to work tomorrow.
And what is the point. Buying and. Maintaining an older car to breakdown on me.
Sometimes you get lucky though. I bought a nine year old Nissan for 950 quid and it ran for six years, with the only repairs needing doing to it in that time being two new tyres, the reversing bulb, a windscreen wiper and a replacement fan belt.

Nissan is a good manufacturer though...if the other guy buys french cars it's no wonder he has bad times

£51 a week is nothing really for a brand new car with insurance and all the rest...a weeks shop costs more than that for most
Don't own it? so what, if you lose your job next week you just give it back

Only downside I can see is that i'm guessing you don't get to choose your insurer.

I'll probably do it if they ever put my hours up

Chewster · Post by **Chewster** » 22 Jul 2016, 00:22

Justanotherstar wrote:
Nondescript wrote:
catch22 wrote:Just got my pegeout 208 £51 a week. No need to stress over extra costs.

Ive always had older cars. I pay £2/3000
I recently bought 2 older cars. Approx 8 years old.
1 car broke. So whilst it was being repaired we ran the other.
The first car was fixed. The second car broke. In the 6 month period i paid £1500 to mot, tax, insure and repair these cars.
6 months later one car is no longer driveable. I lost £2500 on it and its broken on my drive.
I will pay less than this for my new Peugeot and although i may not own it, i can still guarantee i will be getting to work tomorrow.
And what is the point. Buying and. Maintaining an older car to breakdown on me.
Sometimes you get lucky though. I bought a nine year old Nissan for 950 quid and it ran for six years, with the only repairs needing doing to it in that time being two new tyres, the reversing bulb, a windscreen wiper and a replacement fan belt.

Nissan is a good manufacturer though...if the other guy buys french cars it's no wonder he has bad times

£51 a week is nothing really for a brand new car with insurance and all the rest...a weeks shop costs more than that for most
Don't own it? so what, if you lose your job next week you just give it back
Only downside I can see is that i'm guessing you don't get to choose your insurer.

I'll probably do it if they ever put my hours up

Do most of us really get to choose our insurer anyway? Maybe it's just because I'm still below 25 but I'm pretty limited in terms of affordable insurers that are also not dodgy. LV is the only one so far that I can really consider at all.