Terminating Lease - any advice

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ginneswatsonkelso
Posts: 22
Joined: Sat Mar 10, 2018 5:47 pm
Location: Scotland

Terminating Lease - any advice

Post by ginneswatsonkelso » Wed May 08, 2019 4:52 pm

Bought my CHR (Red Edition) almost exactly a year ago on a 2 year lease agreement - having put in extra deposit to keep monthly payments down. Expectation was that I’d either trade in and do similar with a newer/different model or, more likely, take out new agreement for existing car as I love it!

However, I’ve accepted a job abroad for the next 2 years (starting in August).

Looking for advice. Anyone know what my options are? Any opinion on ‘best’ option.

In particular, would it make any sense to keep paying monthly payments and then have a low mileage 3.5 year old car to ‘buy out’ or trade in when I return to this country?

Thanks. :D


Alexr
Posts: 448
Joined: Sat Jan 07, 2017 10:39 pm
Location: Reading, UK

Re: Terminating Lease - any advice

Post by Alexr » Wed May 08, 2019 5:06 pm

ginneswatsonkelso wrote:
Wed May 08, 2019 4:52 pm
Bought my CHR (Red Edition) almost exactly a year ago on a 2 year lease agreement - having put in extra deposit to keep monthly payments down. Expectation was that I’d either trade in and do similar with a newer/different model or, more likely, take out new agreement for existing car as I love it!

However, I’ve accepted a job abroad for the next 2 years (starting in August).

Looking for advice. Anyone know what my options are? Any opinion on ‘best’ option.

In particular, would it make any sense to keep paying monthly payments and then have a low mileage 3.5 year old car to ‘buy out’ or trade in when I return to this country?

Thanks. :D
It all depends on the terms of your lease. As I am not sure of those terms I cant really help. Who was the lease with? Perhaps a call to them may help you understand the options.
All the best
Alex
------------------------
Loving driving my C-HR Excel Hybrid in Metal Stream :P


Simongw
Posts: 122
Joined: Fri Feb 03, 2017 4:05 pm
Location: South West Scotland

Re: Terminating Lease - any advice

Post by Simongw » Wed May 08, 2019 7:43 pm

You need legal advice. You took out a contract when you signed the lease. Try Citizens Advice, Which legal or a solicitor.
1.8 hybrid Icon in Havana brown, with tech pack


devonaygo
Posts: 35
Joined: Sat Feb 03, 2018 5:51 pm
Location: Plymouth

Re: Terminating Lease - any advice

Post by devonaygo » Thu May 09, 2019 8:44 pm

Simongw wrote:
Wed May 08, 2019 7:43 pm
You need legal advice. You took out a contract when you signed the lease. Try Citizens Advice, Which legal or a solicitor.
You should not need legal, Citizens advice, Which or solicitor unless you are in dispute, you should have a copy of your contract which will detail how you can terminate the contract , how to go about doing so, what the process will be, what will expected of you and who to contact to do so


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