Handing a lease back early

[Ursicles]

Given we are on lockdown now and I cant use my car which is due back in July, Just thinking of handing it back early instead of it sitting outside my front door for 3 months.

Whats the ramification of handing the car bar?

Its a skoda from VWFS.

[Fast Bug]

You'll probably have to pay a chunk of the remaining rentals, how much I'm not sure you'd need to speak to VWFS or check your agreement for more info. Also they won't be able to inspect it, or have it collected for 3 or 4 weeks so bare that in mind.

[SmoothCriminal]

50% of remaining rentals plus pro rata mileage is vwfs I believe and as said above who knows when they'll be able to collect it

[roadsmash]

Sorry to hijack but I’m thinking of doing the same as I am with VWFS. I won’t be using the car, so it makes financial sense to hand it back early as I only have to pay 50% of the remaining monthlies (contract ends in June).

Anyone have any idea how collection will work during these times?

Had my eye on an M3 too so it helps bring this purchase forward.

[Fast Bug]

roadsmash said:

Anyone have any idea how collection will work during these times?

I very much doubt you will have an inspection in the next 3-4 weeks, then collection would be after that

[Obee72]

Inspecting/returning lease cars is not "front line" work so I suspect you won't be able to.

In terms of what would usually happen, having done this in the past its 50% of your remaining payments and pro-rata mileage.

[Jefferson Steelflex]

VWFS charge 55% of remaining rentals for early term. They are already telling clients that collections will not take place for the foreseeable future, so anyone with a lease ending during this period is getting a foc extension and a deferral on servicing for 6 months.

I requested early collection last week. I'm awaiting news on whether VWFS will honour the termination as of now. BCA won't come and collect the car, so my argument is going to be that I have done my bit and I shouldn't need to pay much more given I would ordinarily have given the car back by mid-April.