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    • the_scarlet_woman88
    • By the_scarlet_woman88 7th Dec 17, 9:17 PM
    • 3Posts
    • 0Thanks
    the_scarlet_woman88
    returning a car before 3 year lease ends..
    • #1
    • 7th Dec 17, 9:17 PM
    returning a car before 3 year lease ends.. 7th Dec 17 at 9:17 PM
    Hi all, so my first car was brand new in April 2015. Iím not going to buy it at the end but I want to hand it back and use it as a deposit for a newer car. Thinking of doing this before April 2018.

    It has a few dents in it... how will this affect me wanting to return the car early and trade for a newer model?

    Is there much negotiation when it comes to doing this?

    I am clueless as my ex partner dealt with most of this sort of stuff!

    Any help greatly appreciated
Page 1
    • motorguy
    • By motorguy 7th Dec 17, 9:52 PM
    • 15,806 Posts
    • 9,089 Thanks
    motorguy
    • #2
    • 7th Dec 17, 9:52 PM
    • #2
    • 7th Dec 17, 9:52 PM
    Hi all, so my first car was brand new in April 2015. Iím not going to buy it at the end but I want to hand it back and use it as a deposit for a newer car. Thinking of doing this before April 2018.

    It has a few dents in it... how will this affect me wanting to return the car early and trade for a newer model?

    Is there much negotiation when it comes to doing this?

    I am clueless as my ex partner dealt with most of this sort of stuff!

    Any help greatly appreciated
    Originally posted by the_scarlet_woman88
    Ok.... it doesnt sound like you have a lease, but a PCP deal.

    You can confirm that on the paperwork.

    If it is, then you simply get a trade in value and see how that maps to your settlement figure on the finance.
    You are not special. You are not a beautiful and unique snowflake.
    • missile
    • By missile 7th Dec 17, 10:02 PM
    • 9,021 Posts
    • 4,388 Thanks
    missile
    • #3
    • 7th Dec 17, 10:02 PM
    • #3
    • 7th Dec 17, 10:02 PM
    Go to the dealer selling a car you want to buy and he will advise you if there is any equity that you can use as a deposit.
    If it has "a few dents", you may find that you have negative equity.
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home
    • sheslookinhot
    • By sheslookinhot 7th Dec 17, 10:28 PM
    • 1,094 Posts
    • 729 Thanks
    sheslookinhot
    • #4
    • 7th Dec 17, 10:28 PM
    • #4
    • 7th Dec 17, 10:28 PM
    If it's a lease car you simply hand it back, and receive a bill for the dents.
    Mortgage Free
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    • neilmcl
    • By neilmcl 8th Dec 17, 9:38 AM
    • 10,282 Posts
    • 7,211 Thanks
    neilmcl
    • #5
    • 8th Dec 17, 9:38 AM
    • #5
    • 8th Dec 17, 9:38 AM
    If it's a lease car you simply hand it back, and receive a bill for the dents.
    Originally posted by sheslookinhot
    And the possible substantial penalties involved in breaking the lease agreement early.
    • LandyAndy
    • By LandyAndy 8th Dec 17, 10:11 AM
    • 23,983 Posts
    • 50,736 Thanks
    LandyAndy
    • #6
    • 8th Dec 17, 10:11 AM
    • #6
    • 8th Dec 17, 10:11 AM
    Hi all, so my first car was brand new in April 2015. I’m not going to buy it at the end but I want to hand it back and use it as a deposit for a newer car. Thinking of doing this before April 2018.

    It has a few dents in it... how will this affect me wanting to return the car early and trade for a newer model?

    Is there much negotiation when it comes to doing this?

    I am clueless as my ex partner dealt with most of this sort of stuff!

    Any help greatly appreciated
    Originally posted by the_scarlet_woman88
    Sounds like a PCP not a lease.

    If it is a lease then it has no value to you at the end so won't be any use as a deposit.

    If it's a PCP then it will have little or no value as a deposit, particularly as you have damaged it.
    • the_scarlet_woman88
    • By the_scarlet_woman88 8th Dec 17, 1:48 PM
    • 3 Posts
    • 0 Thanks
    the_scarlet_woman88
    • #7
    • 8th Dec 17, 1:48 PM
    • #7
    • 8th Dec 17, 1:48 PM
    Thanks for your replies. It wasnít me that actually dented the car but others, none the less I expected some penalty for that anyhow.

    Iíve a Toyota and they keep writing to me to say that I can upgrade my car, so Iím guessing there wonít be a penalty for ending the agreement early.

    Iíve a hybrid Yaris so hoping thereís still some value in it.
    • k3lvc
    • By k3lvc 8th Dec 17, 1:53 PM
    • 1,942 Posts
    • 3,081 Thanks
    k3lvc
    • #8
    • 8th Dec 17, 1:53 PM
    • #8
    • 8th Dec 17, 1:53 PM
    You've not answered what financial deal you have - this make a big difference to the answers you'll get
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