Transferring MErcedes slk contract hire to another person
Discussion
A mate im on hol with has an slk250cdi amg sport auto that has 18 months left on the contract. He gets a new company car so has no need for the slk now.
Hes happy to lose the deposit and for someone simply to take over the £290pm inc vat payments for the remaining 18 months.
Seems a cheap way into the car for someone but can it be done legally and above board by transferring the lease etc?
Hes tried calling merc finance but theyre shut so i said id post on here.
Hes happy to lose the deposit and for someone simply to take over the £290pm inc vat payments for the remaining 18 months.
Seems a cheap way into the car for someone but can it be done legally and above board by transferring the lease etc?
Hes tried calling merc finance but theyre shut so i said id post on here.
garyhun said:
Can the other person not simply not buy the car by paying out the remaining balance on the contract? Is their not an early settlement option?
There is ... but because it's a lease, it's quite expensive.The renter has a remaining balance due of £5,220.
With a Mercedes lease, there is a termination rebate of 5% PA (i.e., you get 5% per year of the contract balance back). This works out at £391.50.
So, for the sake of £391.50, the renter would be giving up 18 months' use of an SLK as a weekend car, including tax, but of course excluding tax, tyres, servicing and, if applicable, additional fuel. In other words, it's highly unlikely to be worth it unless he has no way whatsoever of storing or using it in that time.
Edited by CYMR0 on Sunday 3rd March 11:53
garyhun said:
Can the other person not simply not buy the car by paying out the remaining balance on the contract? Is their not an early settlement option?
I dont know as on hol.Ill check that but i just thought itd make sense to be able to transfer into someone elses name, subject to credit checks and admin fee, so he could give it a friend etc.
CYMR0 said:
There is ... but because it's a lease, it's quite expensive.
The renter has a remaining balance due of £5,220.
With a Mercedes lease, there is a termination rebate of 5% PA (i.e., you get 5% per year of the contract balance back). This works out at £391.50.
So, for the sake of £391.50, the renter would be giving up 18 months' use of an SLK as a weekend car, including tax, but of course excluding tax, tyres, servicing and, if applicable, additional servicing. In other words, it's highly unlikely to be worth it unless he has no way whatsoever of storing or using it in that time.
Thats just the kind of info needed, thanks.The renter has a remaining balance due of £5,220.
With a Mercedes lease, there is a termination rebate of 5% PA (i.e., you get 5% per year of the contract balance back). This works out at £391.50.
So, for the sake of £391.50, the renter would be giving up 18 months' use of an SLK as a weekend car, including tax, but of course excluding tax, tyres, servicing and, if applicable, additional servicing. In other words, it's highly unlikely to be worth it unless he has no way whatsoever of storing or using it in that time.
He may as well keep it as a weekend car for that. Wont need tyres, tax is £135 and may need one service.
Hes just said hed let it go just to save hassle but that cost is silly!
Gassing Station | General Gassing | Top of Page | What's New | My Stuff