Hi guys
I would like to cancel the leasing car contract, which will end only in 2 years.
What exactly I should do or to know?
The bank has calculated the penalty I have to pay but what should be the next steps?
They informed me that I do not need to inform the garage, can I simply return the car back? Or to find someone to sell, if to sell how and how much do I have to know?
Appreciate any comments and help. many thanks.
Hi guys
I would like to cancel the leasing car contract, which will end only in 2 years.
What exactly I should do or to know?
The bank has calculated the penalty I have to pay but what should be the next steps?
They informed me that I do not need to inform the garage, can I simply return the car back? Or to find someone to sell, if to sell how and how much do I have to know?
Appreciate any comments and help. many thanks.
Any comments are appreciated with thanks. :-)
The best and most cost effective way is to find someone to takeover the lease, like for like, meaning they apply with the leasing company to takeover the payments for the next 2 years.
I would advertise on here and other ex-pat websites, there are many ppl looking for a car and don't want to take out a 4 year lease from scratch and pay the big deposit.
Worst case you return the car and pay the penalty which i imagine might be big or ask your garage if they no anyone interested.
Incidentally what car is it?
The best and most cost effective way is to find someone to takeover the lease, like for like, meaning they apply with the leasing company to takeover the payments for the next 2 years.
I would advertise on here and other ex-pat websites, there are many ppl looking for a car and don't want to take out a 4 year lease from scratch and pay the big deposit.
Worst case you return the car and pay the penalty which i imagine might be big or ask your garage if they no anyone interested.
Incidentally what car is it?
Dear Siv
Many thanks for your advice.
It is a Citroen 1.6 car with 7 seats, in case you know someone is interested in.
Have a nice Sunday.
Dear Siv
Many thanks for your advice.
It is a Citroen 1.6 car with 7 seats, in case you know someone is interested in.
Have a nice Sunday.
Hey I have been in a similar situation in the past. Your main options are to find someone to take over your lease in the same conditions, or to sell the car to a third party for whatever price you choose and pay the bank. There used to be a penalty in the form of higher interest rate if you pay the bank in advance but if I'm not mistaking that was removed. There is however a third option. Your garage might be interested to buy the car from you and resell it, so it's worth checking. That's especially true if you are planning to buy another car from them. In any case if you are planning to buy another new car, you can check with the seller if they want to buy yours.
Hey I have been in a similar situation in the past. Your main options are to find someone to take over your lease in the same conditions, or to sell the car to a third party for whatever price you choose and pay the bank. There used to be a penalty in the form of higher interest rate if you pay the bank in advance but if I'm not mistaking that was removed. There is however a third option. Your garage might be interested to buy the car from you and resell it, so it's worth checking. That's especially true if you are planning to buy another car from them. In any case if you are planning to buy another new car, you can check with the seller if they want to buy yours.
