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Cost of leasing popular cars up 8% in two months

Date: 09 January 2017   |   Author: Daniel Puddicombe

According to recently-released data, the monthly cost of leasing some of the most popular cars has risen by 8% in the last two months to £264.70, up from £254.70 in October 2016.

Information released by accountancy firm UHY Hacker Young, indicates that the average cost of leasing the most popular new cars has started to climb as post-Brexit inflationary pressures begin to filter through to buyers.

As a result of the UK's vote to leave the EU, the pound has fallen against the Euro and the dollar, pushing the cost of importing parts upwards, making cars more expensive to build.

UHY Hacker Young has said that the extra costs incurred are now being passed onto buyers by manufacturers as a result of the growing financial pressures.

The firm added these pressures could grow further once supply contracts expire and manufacturers have to agree new prices based on a lower-valued pound.

Of the 10 models studied, five increased in price, four didn't change and one - the Vauxhall Corsa - dropped in price.

"It appears that Brexit, and the resulting fall in the value of sterling, has begun to place pressure on vehicle manufacturers and their distribution channels, forcing them to shift costs onto consumers. So far it is a small increase but a noticeable increase," said Paul Daly, partner at UHY Hacker Young. "Further cost rises could occur as the cost of components produced overseas ratchets up. It is unlikely that the pain will be limited to the supply chain."

Model

October price

November price

December price

Ford Fiesta 1.0 Titanium

£169.70

£169.70

£169.70

Vauxhall Corsa 1.4 Design

£167.70

£167.30

£167.30

Ford Focus 1.5 TDCi Titanium

£230.90

£240.50

£240.50

VW Golf 1.6 TDI Match

£226.70

 

£241.10

£241.10

Nissan Qashqai 1.2 N-Connecta

£259.50

£259.50

£259.50

Vauxhall Astra 1.6T Sri

£242.30

£242.30

£250.70

VW Polo 1.0TSI Bluemotion

£216.30

£218.70

£218.70

Mini Hatchback 1.5 Cooper D

£232.10

£279.50

£297.50

Mercedes-Benz C-class C220d Sport Saloon

£382.70

£382.70

£399.50

Audi A3 2.0 TDI Sport

£329.10

£307.50

£307.50



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