Are ALD and CA abusing their Location?

To The Automotive Reviewwe are leaning more and more on the lcar leasing. We are aware that purchasing needs and habits are changing. We are moving from owning a car to using it. This fact is even more true if you take into account the needs of a business.
In order to meet these needs, our very dear banks have embarked on the battle for financing through Leasing.

What is leasing?

This is the term generally used to refer to funding either in LLD (Long term rental), is LOA (Lease with Option to Buy).
The advantage of this method is to bring the credit to the finance house (the bank) and to offer consumers a monthly payment/a Rent. This makes it possible to integrate a fixed monthly cost which often includes services such as maintenance, assistance or insurance.

Here we take a look at the offers of theTesla Model Y easingbecause the firm has just canvassed us via an e-mail while we were obviously not registered in their database.
Is it illegal?
Yes…
But for once, it will help us.

Here is the message:

Enjoy the Model Y in LOA.
Thanks to flexible leasing and financing solutions, benefit from even more attractive monthly payments as well as one of the highest residual values ​​on the market. At the end of your contract, which can last up to 5 years, choose between a return and a purchase. Guaranteed residual value. From €599/month for the Model Y Long Autonomy and €684/month for the Model Y Performance.
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What you have to understand is that YOU’RE HERE offers you a Model Y Long Autonomy, displayed at the price of €59,990, in Lease with Option to Purchase over 48 months and 10,000 km/year at the price of €599 per month. This LOA implies a 1st rent increased to the tune of €9,350 followed by 47 monthly rents excluding insurance optional services. As this Tesla is subject to the €2,000 Bonus, this first rent will be reduced to €7,350. At the end of this “rental” period, you will be able to raise the Opurchase option which is €28,195.
Which brings the total amount due with purchase at the end of the contract at €65,697 including tax excluding insurance and optional services. We are therefore on a financing cost of €5,797 over 48 months. This offer is carried by the Credit Agricole Consumer Finance.

You’re here also offers for this Model Y Long Autonomy an offer of Leasing in LLD. Here it is no longer CA Consumer Finance who carries the offer, but ALD. The subsidiary of Société Générale specializing in car financing, which until now was oriented towards “pros” and seems to be getting closer to private customers.

The proposal of ALD leasing is satisfied with an offer Long term rental. If you are unable to acquire it at the end of the contract, this financing solution includes maintenance, servicing and assistance. Moreover, ALD does not ask you for an increased 1st rent. On the other hand, each month you will have to pay €672, over 48 months and for a maximum of 10,000 km per year for individuals and €659 for companies.
No need to come out of a great scientific school to calculate the cost of using this financing solution in LLD since at the end of the contract you will have released the tidy sum of €31,632 and even €32,256 for individuals, not counting the costs of restoration…

We had fun doing simulations of classic credit.
It is not too complicated to find credit offers around 2.5% even with a long tempo. We have found you a credit over 78 months at 100% of the amount due. Here, the bank offers us a monthly payment of less than 860 € for a cost of credit of just under €5,000.

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