Just a quick follow-up to comments made by Bugginbob in another thread, I've recently contacted Skoda Finance regarding early termination of my 24 month PCH deal and been given the same advice of a charge amounting to 55% of outstanding payments to hand back car early.

 

It seems this principle is applied to anyone in last 12 months of lease agreement.

 

The value for this element of contract can be given over the phone by the fleet finance team.

 

With other members perhaps toying with idea of what to do next with their own lease arrangements I thought it worth starting a specific thread to capture personal experiences. Hope it helps.

Edited 31 July, 20178 yr by Buzzlightear
Typo correction

i contacted VW finance near the end of my deal ( 6mths to go) If the dealer wants to buy the car at the VW settlement , I'm out of the contract and able to start a new one. Only if I pick a VAG car.

My car was given a settlement figure of £13750 and forecourt price was £16.1k . Dealer was happy to take car and get me into another Skoda for the same payments.

 

I went from a 2015 Octavia Vrs to a Superb sprortline 190 dsg for the same money per month

 

PM me if you want to find out more

How can one have a settlement figure of £13750 on a PCH? Are you talking about the price that BCA would accept from you to buy the car? Does that price have a name? ;-)

VW finance told me I could wait to the end of my deal or get a dealer to buy me out of contract and get me back into another VAG contract ( I can only do this by taking out a new contract with VAG). VW finance said the dealer must pay £13750 for my VRS. the dealer agreed as he could put my VRS on the forecourt at £16k. So I picked a Superb sportline 190 dsg and negotiated a new monthly payment sched AND NEW 36 MTH contract.

 

Its a win for everyone , VW don't have to put the car through the market or via the dealers and have lost no money, The dealer gets a car with some equity , I get out of the deal and share a wee bit of the equity to get a better monthly deal

 

Does that make a wee bit better sense than my ramblings above.

 

 

Yes, although knowing what I know now, I'd have gone for a 24 month contract (lower monthly amount) and then extend it when the time comes

The 24 mth was soo much more per month. I thought the 48 would be cheaper but again more expensive.

Odd! Not sure how these things work precisely, but when I was looking (back in Sep 2015 or thereabouts) 3 was more than 2 (as a total payable/number of months). I wonder why it's not the case for you?

peculiarities of PCH, suggest you look at a personal lease.  On my second.

Personal Contract Hire (PCH) is personal lease.

 

 

I chucked my O3 back to VWFS with 11 months left on the lease - exactly the same situation as the OP, and had to pay 55% of the remaining rentals to get out early.

 

Was back for sale in the Skoda dealer network within a few weeks of BCA collecting the car.

Picked up my new sportline and the dealer said hed contact me when I was in the deal long enough for the settlement figure to be lower than the forecourt price. Hence getting out early again , with nowt to pay and getting in a new deal.

 

ALL parties happy , dealer hets 15-20% , finance get full settlement without throwing the car to the market, I get a new car on the same payments. SIMPLES!