Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • JOEYjo38
    • By JOEYjo38 11th Sep 17, 6:30 PM
    • 2Posts
    • 0Thanks
    JOEYjo38
    Car Leasing
    • #1
    • 11th Sep 17, 6:30 PM
    Car Leasing 11th Sep 17 at 6:30 PM
    Not sure if I am in the right place as new to this forum. Could anyone tell me what happens with car leasing.
    I have been leasing a car now for 2 years and would like to continue leasing another car once this current lease has finished. Would I have to find another deposit for the next car or will I just carry on from here, making monthly payments. Thanks
Page 1
    • wgl2014
    • By wgl2014 11th Sep 17, 6:34 PM
    • 274 Posts
    • 148 Thanks
    wgl2014
    • #2
    • 11th Sep 17, 6:34 PM
    • #2
    • 11th Sep 17, 6:34 PM
    Unless it's a PCP deal (balloon payment at the end with option to keep the car) then you will end the lease and start afresh. That means a new deposit and finance agreement.
    • Ebe Scrooge
    • By Ebe Scrooge 11th Sep 17, 6:35 PM
    • 3,864 Posts
    • 3,244 Thanks
    Ebe Scrooge
    • #3
    • 11th Sep 17, 6:35 PM
    • #3
    • 11th Sep 17, 6:35 PM
    What does your contract say ?

    And what do you mean by "leasing" ?

    It's fairly common for your old car to be used as a deposit for the new car, so long as you meet the T&C's. But it will all be laid out in your contract.
    I may not know much about art, but I know what I like.
    • loskie
    • By loskie 11th Sep 17, 7:03 PM
    • 1,097 Posts
    • 663 Thanks
    loskie
    • #4
    • 11th Sep 17, 7:03 PM
    • #4
    • 11th Sep 17, 7:03 PM
    if it is a LEASE at the end of it you just start again. You are 2 years in yet you don't know! Before you sign up for a new one can I suggest you know what you are getting into.
    • JOEYjo38
    • By JOEYjo38 11th Sep 17, 11:31 PM
    • 2 Posts
    • 0 Thanks
    JOEYjo38
    • #5
    • 11th Sep 17, 11:31 PM
    • #5
    • 11th Sep 17, 11:31 PM
    Thanks for the reply. It is a PCP. Had a lot happened between the sign -up and now. Thanks again.
    • Mercdriver
    • By Mercdriver 11th Sep 17, 11:55 PM
    • 1,373 Posts
    • 912 Thanks
    Mercdriver
    • #6
    • 11th Sep 17, 11:55 PM
    • #6
    • 11th Sep 17, 11:55 PM
    Thanks for the reply. It is a PCP. Had a lot happened between the sign -up and now. Thanks again.
    Originally posted by JOEYjo38
    How much of a deposit you will have to find will depend on how much, if any, equity there is in the car you hand back at the end of the term.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,227Posts Today

8,292Users online

Martin's Twitter
  • RT @iamemmahill: After watching @MartinSLewis I rang my provider & asked them to recalculate my bill &it has gone from £81 to £51 a month.S?

  • Seriously? How is this supporting Uber... IT'S A POLL! I do em ever day on topical subjects. And I've never promote? https://t.co/JrlxaoNLlY

  • RT @Mum2DDSophie: @MartinSLewis Thanks for your advice! I have easily switched from Extra Energy standard tariff to another supplier and wi?

  • Follow Martin