As a Dutch native living in the South-East, i think the choice between Private lease and ownership strongly depends on the needs and budget of the consumer. The size af the car matters a lot for the price here in the Netherlands. If i would want to lease a big luxury car like Volvo S60, audi a6 Or a Mercedes stationwagon, it would become really pricy. I own an average dutch house for the price that some luxury cars are leased for. Audi for example has cars for a lease price that is double of what my house costs per month. And then you still have to pay for fuel! I think private lease is mainly interesting if you lease a car that isn't that big to begin with, and if you don't use a car that much, or the monthly price will be too high. Also the options you have to pay for are in my opinion too high for what you get. IF you want 4-season tires for example you have to pay 20,- Euro's per month extra for the full contract period, while that same set of tires would cost a third of that if you would own the same car for the same amount of time and kilometers. It is true that if the car breaks down, you go to a dealership and have it fixed, and you can "own" a new car every five years or less, but if you buy a car second hand i still find it more cost effective to own, even if you have to pay for every workshop visit. I can do whatever i want with the car, wether it's tires, the sound system or something else. When i want another one i don't have pay a fine. And if i loose my job, i can sell the car just as easily and have some cash to go through the first months. The downside is that you have to save money for when your cars needs replacing. I do love the video by the way.
Sorry for the poor audio at the beginning! I forgot to put the deadcat on the mic! Let me know below what you think about Private Leasing a car in the Netherlands
An idea for a video: What's the dealership experience like in Europe vs USA? I hear so much horror stories online from the people in USA dealing with parasitic, time-wasting dealers, yet here in Poland dealerships are generally fine and pro-consumer. Also: Would be great to see a video about the differences in the public transport between USA (buses/trams/trains/cycling/walking as a pedestrian, could be one video each?)
Agree, I think the dealership experience here in NL is much less pressuring, and much more pro consumer compared to the US. In the US, it’s quite a stressful experience. Buying a car online is becoming popular so people can avoid going into a dealership. Thanks for the video suggestions!
@@Kerleem Idk where i heard that, maybe in a VOX video (?), but is it true that in a lot of cases, when you buy a car, you just pick it up from the lot when it is new? Im from Germany and i would argue that if you buy a new car, you order it and so you will be able to custom it a lot.
@@florian9540 I would say ordering a car in the US is more of an exception and not the norm. Generally, the 'average' consumer goes into a dealership and picks out a car from the lot. Dealerships are huge and have hundreds of cars in stock, usually with the most popular features. Or people shop around to different dealers that has the model and features they want. Only if you want a special build, or a brand new car that isn't in stock, then it's ordered. Building and ordering a car here was the a first for me, and I had owned several new cars in the US.
@@Kerleem It might be caused by the fact, that there is simply not the amount of space to have hundreds of cars on the hand. Even large stores dont have so much parking and would cost to much money to purchase or rent the space for such operations. Thanks for the info mate. New sub here^^
I mean it only affects the maximum you can borrow before you get a mortgage. If you already have one (which I did) it doesn’t affect it. This is the same for a car loan too so I didn’t see a point in mentioning it here
@@Kerleem agreed, I just was pointing out to people like me who is looking for a mortgage in this competitive market where we might have to maximise the mortgage. By the way this was an informative video and well made, cheers 🥂
Something to mention, if you buy a car, you have to insure it of course, but the costs of insurance doesn't only depend on the price of the car and type (WA/WA+ Allrisk), but also how many years damage free you have ridden. So if you own for the first time a car, your on the zero years, every year you drive damage/accident free your monthly payment goes down, and that saves a lot of money. The max discount you get is around 75/80% thats usually about 5-6 years damage free.
BPM was originally intended to keep the money inside the country, like a import tax in disguise. And its an absolute rip-off. But in return you get fantastic infrastructure. A bit like hotels, NL is an expensive hotel with great services, you pay more but you get something to.
Kareem, love your videos. Want to decide between leasing a car vs buying! I'm sure that I won't be driving 10k per year. What do you suggest? I'm looking for BMW, Volvo or Jaguar
Very informative video, thank you! I had a question regarding the credit history. Can an expat like me who recently moved to the Netherlands lease a vehicle without any credit history? What was your experience with this?
Gi. Thank you for the nice video. My question is about ending of your private lease contract, you need to give the car back to the dealer and just say goodbye!? Means all the money that you've spent so far for the car went for nothing?
Yes, you need to give the car back at the end, it is a lease after all. I wouldn't say to nothing, you're paying for your use of (just like you would lease an apartment, even though you're not paying towards owning it). Cars are depreciating assets, so even if you buy a car for 20,000, it's not worth 20,000 after 3 or 4 years, it's worth less. So you are "paying to use it" in a different way (by it losing value). This isn't financial advice, but just FYI.
Can't understand some complaints of commenters here tbh. If you want a new car, not driving it 300km everyday lease is a great deal. I mean it's really affordable and a great deal.
Are we going to be the owner of the car in leasing ? or this is a kind of long term car rental ? for machine leasing, at the end of the leasing, the machıne belongs to you. but as I read, the car does not belongs to me at the end of the leasıng ?
I am wondering why you would move to the Netherlands from the USA. I'd prefer living in the usa (although the health insurance sucks in the usa) or canada over The Netherlands. What was your main reason to move?
Can I ask if your video, in the first few minutes, is your actual driving position? I wouldn't be comfortable as a passenger, too far back from the steering wheel...
A bit late, one year later, but a credit check is done with BKR, an organization which registers all official loans above €50 in The Netherlands, and the company selling you something with a loan attached, has an obligation to check your credit history and your ability to pay for the loan. Mostly they ask you for your last pay slip and a month of bank account notifications, so they can see what your income is and what your monthly costs are. That’s how they assess if you are able to pay for the loan. They only do the income check with large expenses. The credit check is almost always an obligation, even for a cellphone subscription with a ‘free’ cellphone attached.
yes,one big question,is there an option,i want a new car and i pay like every month equal amount for this and that years and at the end i own this car...?
Here(Norway), it's very uncommon to get a private lease without an upfront payment(usually 10 % of the cars value). That defeats the purpose if you ask me. You are also responsible for maintenence/inspection costs yourself.
@@Kerleem I know at least Toyota here have started offering leases without(or at least very negotiable)down payments, so hopefully it will be a viable option for many in the future.
Private lease is not a very good term. There are 2 types of lease available, financial lease and full operational lease. The first is basically a loan, with or without downpayment, the second is (usually) without downpayment, and except gas/charging all operational costs, include road tax and insurance. Private lease is used as a marketing term in the Netherlands for operational lease directed at private persons.
@@guiliazar7890 it can vary a lot depending on your configuration. A base 1 series would be around €400/month. There are many private lease calculators online
It's more a "peace of mind" option because financally it doesn't make sense for a private owner to get a car through leasing, it's more expensive than a loan and even more expensive than paying cash.
![일상 속 기분 좋음 [Proto disco meme]](http://i.ytimg.com/vi/DwmEIaZ7XGQ/mqdefault.jpg)
This channel is so underated.
Wow! Thanks!
As a Dutch native living in the South-East, i think the choice between Private lease and ownership strongly depends on the needs and budget of the consumer.
The size af the car matters a lot for the price here in the Netherlands. If i would want to lease a big luxury car like Volvo S60, audi a6 Or a Mercedes stationwagon, it would become really pricy. I own an average dutch house for the price that some luxury cars are leased for. Audi for example has cars for a lease price that is double of what my house costs per month. And then you still have to pay for fuel!
I think private lease is mainly interesting if you lease a car that isn't that big to begin with, and if you don't use a car that much, or the monthly price will be too high. Also the options you have to pay for are in my opinion too high for what you get.
IF you want 4-season tires for example you have to pay 20,- Euro's per month extra for the full contract period, while that same set of tires would cost a third of that if you would own the same car for the same amount of time and kilometers.
It is true that if the car breaks down, you go to a dealership and have it fixed, and you can "own" a new car every five years or less, but if you buy a car second hand i still find it more cost effective to own, even if you have to pay for every workshop visit. I can do whatever i want with the car, wether it's tires, the sound system or something else. When i want another one i don't have pay a fine. And if i loose my job, i can sell the car just as easily and have some cash to go through the first months. The downside is that you have to save money for when your cars needs replacing.
I do love the video by the way.
Sorry for the poor audio at the beginning! I forgot to put the deadcat on the mic!
Let me know below what you think about Private Leasing a car in the Netherlands
If this was my first video I'm pretty sure i'd have quit. Have a look at your dropoff rate, I think you can see it ;3
@@LisaMiza Wow, well 3K+ subs seems to tell me otherwise.
@@Kerleem smartass
An idea for a video: What's the dealership experience like in Europe vs USA?
I hear so much horror stories online from the people in USA dealing with parasitic, time-wasting dealers, yet here in Poland dealerships are generally fine and pro-consumer.
Also: Would be great to see a video about the differences in the public transport between USA (buses/trams/trains/cycling/walking as a pedestrian, could be one video each?)
Agree, I think the dealership experience here in NL is much less pressuring, and much more pro consumer compared to the US.
In the US, it’s quite a stressful experience. Buying a car online is becoming popular so people can avoid going into a dealership.
Thanks for the video suggestions!
@@Kerleem Idk where i heard that, maybe in a VOX video (?), but is it true that in a lot of cases, when you buy a car, you just pick it up from the lot when it is new?
Im from Germany and i would argue that if you buy a new car, you order it and so you will be able to custom it a lot.
@@florian9540 I would say ordering a car in the US is more of an exception and not the norm. Generally, the 'average' consumer goes into a dealership and picks out a car from the lot. Dealerships are huge and have hundreds of cars in stock, usually with the most popular features. Or people shop around to different dealers that has the model and features they want. Only if you want a special build, or a brand new car that isn't in stock, then it's ordered.
Building and ordering a car here was the a first for me, and I had owned several new cars in the US.
@@Kerleem It might be caused by the fact, that there is simply not the amount of space to have hundreds of cars on the hand.
Even large stores dont have so much parking and would cost to much money to purchase or rent the space for such operations.
Thanks for the info mate. New sub here^^
You should also talk about how a private leasing affects a home mortgage in the Netherlands as well
I mean it only affects the maximum you can borrow before you get a mortgage. If you already have one (which I did) it doesn’t affect it. This is the same for a car loan too so I didn’t see a point in mentioning it here
@@Kerleem agreed, I just was pointing out to people like me who is looking for a mortgage in this competitive market where we might have to maximise the mortgage.
By the way this was an informative video and well made, cheers 🥂
That is the clever and stress free way to have a car 👍 We here in Spain talk about renting your car long term.
If something goes wrong with the car you are covered. No surprises.
Something to mention, if you buy a car, you have to insure it of course, but the costs of insurance doesn't only depend on the price of the car and type (WA/WA+ Allrisk), but also how many years damage free you have ridden. So if you own for the first time a car, your on the zero years, every year you drive damage/accident free your monthly payment goes down, and that saves a lot of money. The max discount you get is around 75/80% thats usually about 5-6 years damage free.
Yep insurance is more complicated and I didn’t get into the details here because it doesn’t matter with a private lease.
BPM was originally intended to keep the money inside the country, like a import tax in disguise. And its an absolute rip-off. But in return you get fantastic infrastructure. A bit like hotels, NL is an expensive hotel with great services, you pay more but you get something to.
Kareem, love your videos. Want to decide between leasing a car vs buying! I'm sure that I won't be driving 10k per year.
What do you suggest? I'm looking for BMW, Volvo or Jaguar
It really depends on your needs and budget
Nice video, very informative
Very informative video, thank you! I had a question regarding the credit history. Can an expat like me who recently moved to the Netherlands lease a vehicle without any credit history? What was your experience with this?
Yes with a good employment contract it should be possible!
Gi. Thank you for the nice video. My question is about ending of your private lease contract, you need to give the car back to the dealer and just say goodbye!?
Means all the money that you've spent so far for the car went for nothing?
Yes, you need to give the car back at the end, it is a lease after all.
I wouldn't say to nothing, you're paying for your use of (just like you would lease an apartment, even though you're not paying towards owning it).
Cars are depreciating assets, so even if you buy a car for 20,000, it's not worth 20,000 after 3 or 4 years, it's worth less. So you are "paying to use it" in a different way (by it losing value).
This isn't financial advice, but just FYI.
Can't understand some complaints of commenters here tbh. If you want a new car, not driving it 300km everyday lease is a great deal. I mean it's really affordable and a great deal.
Are we going to be the owner of the car in leasing ? or this is a kind of long term car rental ? for machine leasing, at the end of the leasing, the machıne belongs to you. but as I read, the car does not belongs to me at the end of the leasıng ?
Leasing is like long term renting. You do not officially own the car. At the end of the lease, the car is NOT yours
Is there any carsharing system in Europe?
I mean short-rental when you can drive to work for example and pay only for minutes you spend on the road
Yes there are plenty of car sharing options in cities like Amsterdam. I touched on this briefly in this video th-cam.com/video/mjY0rFQDeg4/w-d-xo.html
I am wondering why you would move to the Netherlands from the USA. I'd prefer living in the usa (although the health insurance sucks in the usa) or canada over The Netherlands. What was your main reason to move?
haha, maybe I'll do a future video on this, but there were many reasons. Primarily a job opportunity, but we love it here.
@@Kerleem i would love to see you make a video about this topic
Can I ask if your video, in the first few minutes, is your actual driving position? I wouldn't be comfortable as a passenger, too far back from the steering wheel...
Not sure what you mean?
Does your dealer requires your resident permit long enough to cover the lease period? Thank you.
I think they needed it, but I don’t recall any specific questions about the validity period
Wud u be able to compare the monthly expenses of leasing a car and buying? Also does they provide buy back options after the lease period?
I think I covered the expenses here. I don't know if there is a buy back option at the end of the lease, but I don't think so.
Nice video man. Do you know if there is a limiit of credit based on my montly income ?
Probably but I’m not sure how it works in that level of detail to be honest.
A bit late, one year later, but a credit check is done with BKR, an organization which registers all official loans above €50 in The Netherlands, and the company selling you something with a loan attached, has an obligation to check your credit history and your ability to pay for the loan. Mostly they ask you for your last pay slip and a month of bank account notifications, so they can see what your income is and what your monthly costs are. That’s how they assess if you are able to pay for the loan. They only do the income check with large expenses. The credit check is almost always an obligation, even for a cellphone subscription with a ‘free’ cellphone attached.
yes,one big question,is there an option,i want a new car and i pay like every month equal amount for this and that years and at the end i own this car...?
That is traditional financing (taking out a loan) I suppose
After paying every month. If lease finish then you will be owner or not?
Nope, it's like a long term rental.
Here(Norway), it's very uncommon to get a private lease without an upfront payment(usually 10 % of the cars value). That defeats the purpose if you ask me. You are also responsible for maintenence/inspection costs yourself.
Agreed, a down payment on a lease doesn’t make sense. But that’s also common in the US
@@Kerleem I know at least Toyota here have started offering leases without(or at least very negotiable)down payments, so hopefully it will be a viable option for many in the future.
Private lease is not a very good term. There are 2 types of lease available, financial lease and full operational lease. The first is basically a loan, with or without downpayment, the second is (usually) without downpayment, and except gas/charging all operational costs, include road tax and insurance. Private lease is used as a marketing term in the Netherlands for operational lease directed at private persons.
Can you advise which lease company you did it? And which one you recommend please?
I leased directly from BMW. That's my only experience so far.
@@Kerleem and how much it is to lease for 4 years with 15,000 km?
@@guiliazar7890 it can vary a lot depending on your configuration. A base 1 series would be around €400/month. There are many private lease calculators online
It's more a "peace of mind" option because financally it doesn't make sense for a private owner to get a car through leasing, it's more expensive than a loan and even more expensive than paying cash.
To each his own. Cars are depreciating assets, it's all about perspective. But that's not the point of the video anyway.
You really seem to like cars. And the Netherlands...
Yes!
Good thing about the Netherlands is that its often very flat.
Hey!I am ready to help with car recycling. Will come from Ukraine and can help people to get rid of their older cars
sry
old cars are being sold in NL and reselled in eastern europe
you should not film while you are in the car driving. As you stated in a previous video, when you drive, you drive ;)
Sure, but I'm literally just talking...