Out of lease early but staying with brand?
Out of lease early but staying with brand?
Author
Discussion

stabilio

Original Poster:

616 posts

198 months

Wednesday 23rd May 2012
quotequote all
Due to me moving job I no longer need a car to get to work and back so having 2 cars are not needed now.
My partner wants to sell hers as its paid for and is getting on a bit and we'll just have one car. Trouble is my car is a little on the small side
and with 2 kids a bigger car would be better.

Getting to my point... I'm on a 3 year PCP and only a few months into it. Would i be badly out of pocket if i got out now or would the dealer be more 'kind' if i took another lease by swapping to bigger model?

CYMR0

3,940 posts

227 months

Wednesday 23rd May 2012
quotequote all
Assuming you're on a PCP, you're not on a lease; PCP is just HP with a balloon payment.

You'd get a p/x figure, the amount you owe would be deducted from that value and you'd use that as a deposit for the next car, whatever it might be. If you owe more than the p/x value, you pay the shortfall and hand the car back. Obviously, the better the p/x price, the less you have to pay or the more you have for a deposit. Maybe the same-brand dealer would give you a better deal for one of their cars; maybe not, but I'd be unlikely to make that a deciding factor on its own.

Without figures I don't think anyone can advise more fully than that.

FoundOnRoadside

436 posts

171 months

Wednesday 23rd May 2012
quotequote all
What size are your kids?!? Back when I was a kid, people had a family of four in the back of a Metro or Renault 5.