Ending a Personal Lease early by transferring the agreement.

[Leonblue]

I wondered if any of you guys have any experience terminating a personal lease by transferring the car and lease agreement to another person along with it's remaining contract payments? To be clear I am talking about personal lease where there is no option to purchase the car and it normally goes back at the end of the term and not PCP or HP.  A number of websites have appeared that charge a fee to advertise your car and introduce you to somebody that is interested in taking on the car and it's outstanding payments for the remaining term. I believe that the new person has to be credit checked by the Lease company and the agreement is simply transferred to them. I am interested if anyone has been through this process. How easy was it and what are the downsides?

[BA Baracus]

Check the t&cs but I would think it is highly unlikely - parties to a contract are fundamental aspects of said contract.

[aldouk]

I asked the same question.

If it's with VWFS unlikely. They said the type of PCH I have doesn't allow me to transfer to another person.

I even asked if I could settle the outstanding balance. If I do this I have to give the car back!

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[Leonblue]

Sounds about right. Do you know if this type of agreement is covered under the financial ombudsman?

[LewJo]

Sounds about right. Do you know if this type of agreement is covered under the financial ombudsman?

If you have a complaint about the agreement you have and the leasing company hasn't dealt with your complaint to satisfaction you should be able to take it to the Financial Ombudsmam.

However, you don't really have any grounds to complain. You want to change the nature of an agreement you signed and promised to continue paying. The leasing company holding you to that isn't really unexpected or unreasonable.

[Leonblue]

If you have a complaint about the agreement you have and the leasing company hasn't dealt with your complaint to satisfaction you should be able to take it to the Financial Ombudsmam.

However, you don't really have any grounds to complain. You want to change the nature of an agreement you signed and promised to continue paying. The leasing company holding you to that isn't really unexpected or unreasonable.

Thanks, I was just weighing up options. I don't really want to post too much information at this time, suffice to say that I may have a complaint moving forward. I would never simply break a contract without good reason.

[aldouk]

Yes they are covered under the financial ombudsman as I complained about a clunky seat and they issued me a letter with the paragraph in.

[andyvee]

Thanks, I was just weighing up options. I don't really want to post too much information at this time, suffice to say that I may have a complaint moving forward. I would never simply break a contract without good reason.

Second O3 a Lemon as well?

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[Leonblue]

Second O3 a Lemon as well?

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Let's just say we don't get on as well as we used to