spainrico

Anybody any experience of very long term car rental with Destiners

https://destiners.com/

I think it looks like a very good deal and when you net down monthly payment with depreciation savings (on owning, ok depends on the age of car) IVTM tax, insurance, ITV, and the hassle of arranging all I think it looks very tempting. OK, I only do low kms p.a. now so low repayments.

I estimate a new Captur (for example) nets to around 215€ a month and in 3 /5years time a new set of keys - and I think depreciation on petrol/diesel cars will be huge when electrics take off (yes it will happen)

missile

If you do only low km per annum, do you really need a new car?
I think residuals for diesel and petrol may increase "when electrics takes off"

Notdunroamin

There is also bipicar.com

Barriej

This type of 'rental' can be good BUT having looked through the website they are very vague about the return conditions.
The only thing I can find is about the return of the deposit as long as the car meets the return standard.
Would only do this for a year and then change as it makes no sense to be renting a car for five years you will never own.

I have a mate in the UK who does this style of rental (although its an open ended lease) he changes the car every year and last year he took it back and didn't notice a scratch on the rear bumper, they charged him for a complete bumper as they said repairing it would not allow them to resell it at a good price.
He has also said they are a nightmare for internal wear and tear as well.
But it suits his business model so he keeps doing it.

I would do it just to own something 'special' for a year or two, like the top of the range Mustang or similar. Otherwise its better to get one of the zero K deals all the manufacturers have here, especially if you are going to keep the car five years.
As to hassle, apart from the ITV all the other stuff can be done online in minutes.

As to ICE cars being worthless in a few years, nope the opposite will happen unless the price of an EV comes down in price. And remember hybrid cars will be the more common on the road not fully EV for many many years.
Spain is one of those weird places where people just dont replace their cars that often. My FIL is driving around in a 20 year old car and its a mess but goes through the ITV every year after a basic service. Mine is from 2007 and is the oldest new car Ive ever owned that wasn't new (dont count the MK2 Cortina from 1968) and its in better nick now than some of the brand new cars Ive owned in the UK. It only seems to be Brits, Germans and the Dutch of a certain age that change car every couple of years.

But at the end of the day its horse for courses, your decision not mine or anyone else, BUT make sure they tell you or read the very small print.

spainrico

OK, so no one has actually dealt with this outfit.

Pre-covid I was doing one long trip a year and local stuff but I like the reliability of a new car as I do not look under the bonnet.

What 'deposit' ? There is no deposit or final payment. Sin entrada or cuota final.

Of course, the prices of EVs will come down - most manufacturers have now committed to total EV production so economies of scale and mass production will guarantee that as well as government incentives to buy. And of course the Chinese....

My mate is on the second deal with a bank but is thinking of switching to Destiners as he thinks it is a better deal.

missile

Those "deals" have been available for several years. Those prices are not a lot cheaper than traditional rent a car where you are not tied into a three year contract.

bobd22

Normal car rental though normally means you have to take the car back every 4 weeks for checking and resigning of paperwork. In the past I have rented for a couple of months and had to do that. Also normal car rental to get cheap prices you have the insurance excess issue and hard sell to get you to pay the extra no excess. The one outlined seems to me
more like a 1, 2 or 3 year lease plan really.
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missile

Car hire offers flexibility. There are times when I do not need a car, or a different vehicle, e.g. a small town car or large SUV.

The link by OP quotes 36, 48 or 60 months contract duration. I have read many posts from those complaining their circumstances have changed and found it very expensive to cancel. Others have complained about horrendous costs for excess mileage and to rectify small defects when returning a vehicle. I have read others complaining that tyres are not changed until they are at the legal limit. Those issues may not be relevant to OP, but would concern me.

I have previously used annual insurance to cover all risks for car hire which was very reasonably priced :-)

bobd22

Yes I agree that rental gives one more flexibility that's reason I said to me the this solution is more like a lease than hiring. I myself found when I was here before residency on longish stays that I was paying for a hire car to sit unused for some periods. It really comes down to personal needs and which option suits. I too used the annual excess insurance when I was renting but that didn't stop the hard sell from some hirers trying to sell their all inclusive insurance, again it depends on the person but at times one had to be very determined to get beyond that point at the desk. I have been in the queue waiting and seen some people saying they had their own excess but cave in and take the expensive all inclusive dealer package even though they had paid for the excess insurance seperately. It really all comes down to the individual. I must admit I wasn't aware of the scheme outlined. My decision when I moved here permanently was buy a basic but new car which gave me a years free insurance, 2 years free servicing and 5 year warranty plus a discount on cash price. OK I had to take 3 years finance to get the deal but I financed the minimum amount possible. I only pay 150 euros for 3 years no doubt at 5 year point I will trade it in and re do the same. That suits me but I don't care about what badge my car has on it basic, suits me these days. As they say horses for courses.

missile

The OPs deal appears to be limited to base model, which might suit most, but I like to have a few options. I wonder if OP has considered a dealer supplied car on PCP?

spainrico

OK this is NOT leasing - in their (translated) words -

Renting is a vehicle rental that can be done both to individuals and to companies and freelancers. While leasing is a financial leasing system to acquire goods related to economic activities.

In other words, the leasing works as a rent with option to purchase on an asset - in this case a vehicle - that is related to an economic activity. For this reason, leasing can only be hired by companies and freelancers since it is essential that the vehicle is related to an economic activity. In addition, many services included in the renting (insurance, maintenance, etc ...) are not included in the case of leasing and the client has to find and contract them separately.

In the case of Destiners, our renting service is available to individuals as well as to companies and freelancers. We offer flexible hiring options that vary depending on the length of the contract and the estimated annual mileage. In addition, all the expenses associated with the use of the vehicle are included in the monthly subscription fee. For more information, see our article on the differences between renting and leasing. (end)

I am just thinking tying up say 20,000€ (especially if the money is financed) on a mid-size SUV (like mine) on a depreciating asset (even ignoring EVs coming) may not now be the best option and all the admin is done for you. And in 3 years time take a new one. I don't have kids/dogs etc so its condition will be OK at end of term and no hassles on trade-in value etc.

Most banks are now pushing this option so obviously they think it's a viable option and has demand.

PCP is about buying no? This deal is not who actually wants to own a car...

missile

Can you provide evidence to support your claim
This option and this company is not one I would choose :-)
Absolute rubbish. Leasing / PCP is available to everyone. It is by far the preferred option for business and private buyers alike.
As you correctly say, with PCP there is an option to purchase. A low mileage careful driver might consider this is an advantage.
Most owners will return the vehicle at the end of their chosen term and take out a new deal.

However, if the link you posted suits you, go for it. I am merely pointing out some of the negative aspects you and others may wish to consider.

bobd22

Spainrico sorry I wasn't trying to infer what you posted was leasing rather that it was similar obviously though without the option to buy at end of hire. I wasn't aware of this long term option until seeing your post.

SanNico

I'd be tempted not to buy or lease at all and just take out short term rentals when the need arises, making sure you have an annual excess policy as Missile mentioned. A run around or moped sounds more financially astute, renting something more substantial when required.
The EV motorbikes are pretty good as runarounds.

bobd22

That's what I did before moving permanently. As I was coming for 3 months at a time hiring a car and it sitting unused for some periods really wasn't cost effective. I bought a secondhand scooter which got me around could get enough shopping etc on it to keep me going, cheap to run easy to park etc. when required rent a car for the short term. The twist and go scooters are very easy to use.