Hopefully this is the right place for this?

 

Just wondering if anyone has ended their lease car early?

 

Our (well Skoda/VW finance's) Scout is 3 yrs old at the end of May and thus end of the lease. We've looked around for the replacement and have now signed up for a new lease with VW finance but for a Golf R estate now - its on a 'hot deal' according to the dealer and is one of the 1200 estates they made available under this offer to lease prior to xmas (apparently now less than 30 in black or grey nationwide left from that batch). Anyway due to this, it allegedly has a build week of 8 already and could be available by end of March according to the dealer.

 

They are happy to keep it / have it delivered end of May for us, but obviously we're impatient to get the new car, albeit accept it makes no sense to have two cars on lease and insured (plus my company vRS). 

 

Just wondering if anyones experienced any flexibility with Skoda (VW) finance in regards to ending the lease a bit early. I'm assuming they will want the last few months payments as its part of the funding/residuals they work on and expecting them not to be interested in any changes. There are a couple of things that if they are flexible, could go in our favour;

Firstly the Scout is quite alot under the agreed mileage - we have 8kpa allowance over 3 years (24k total) and with 4 months to go its got just over 14k on it - by the time the R could be available say 16k tops. Also the new lease is with VW finance also.

 

They have previously asked if we wanted to change the lease terms due to being under mileage on the updates they request - hence thinking there maybe some flex?

Call them, explain the situation. I'd have thought they will let you hand the car back early as an early termination but depends on the type of lease etc. There are a few threads on this on the site. 

I think the amount you pay back on an early termination declines over time, e.g; 60% of your overall lease cost in the first year, then 50% in the 2nd year and then 40% thereafter. Or something like that.  So you may only have to pay less than half of what you have outstanding on the terms of the lease. There's probably the obligatory 'admin fee' to add to that too. 

 

You can change the mileage on a lease, increase or decrease but you can only do this once in a 12 month period, there's an 'admin fee' for doing this, £60 IIRC

 

HTH 

Edited 11 January, 20188 yr by penguin17