Being bought out of Lease

[tommorgan754]

Morning All

Completely hypothetical situation, but, has anyone known/heard of a time where garage would pay for you to terminate your lease when taking out a new finance deal with them?

I.e a couple of years remaining on a lease, circa 3k to terminate. Looking at a PCP deal with a big retailer to replace the lease car. Would retailer consider providing the 3k termination fee?

Like I said, hypothetical but something I have wondered and could potentially be an option for a friend.

Tom

[ayman82]

It's unlikely they would do it directly, but they could perhaps add £3k onto the finance to release £3k of deposit?

[anonymous-user]

Effectively the question is "can I get £3000 in cash from the dealer as part of this finance deal".

There's no asset here for the dealer to take on. I suppose they could possibly treat it as if they were rolling negative equity into the PCP deal and hand the money over that way, but honestly this is such a terrible idea that it's almost scary.

If there isn't the money there to easily pay off the £3k (which is effectively flushing it down the toilet, as you get nothing for that money) then I'd respectfully suggest there isn't the money there to be messing about borrowing more than is needed to pay off the £3k