Buying from Lex at end of lease
Buying from Lex at end of lease
Author
Discussion

DE1975

Original Poster:

525 posts

129 months

Tuesday
quotequote all
My PCH lease with Lex Autolease rolled over to an informal extension some time ago and they are now contacting me to hand it back.

My agreement does state there is no option to buy, which is understood by me. However, there is a Lex Driver Sales portal operated by BCA remarketing which seems to suggest it might be possible, albeit it would have to be to a third party and not to the driver named on the lease (me).

https://www.lexdriversales.co.uk/

I am able to put my reg in this site and get an estimated price which would be acceptable.

So my question is, has anybody done this specifically with Lex Autolease (I know some other lease providers do facilitate the driver purchase)?

Secondly, if you have, then has the 3 party buyer been enforced? I can get a family member to be the named buyer and immediately transfer the V5 to my name when received, so I can do this although it adds owners to the V5 record.

Thirdly, if it's possible, the BCA FAQ's say about payment has to be from an account in the name of the person on the purchase order (the third party family member in my case), so again is this enforced or could I pay directly from my account instead of doing the shuffling money around?

Thanks

Rough101

2,973 posts

98 months

Tuesday
quotequote all
They no longer directly sell the car to the lessee because of the rules around VAT and the possibility that the lease agreement could retrospectively be considered a loan / HP agreement.

I have done it, with Lex, but the lease was in the companies name, even then I had to sign a few things to indemnify them.

Pickle_Rick

694 posts

83 months

Yesterday (19:40)
quotequote all
Rough101 said:
They no longer directly sell the car to the lessee because of the rules around VAT and the possibility that the lease agreement could retrospectively be considered a loan / HP agreement.

I have done it, with Lex, but the lease was in the companies name, even then I had to sign a few things to indemnify them.
I didn't know that... Would have kept the model Y which was in company name