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