Jamjar Lease

edwardw

Hi all
i have a jamjar lease car and have had it now for 13 months (3yr lease)
i will be getting a company car in 5 months and cannot afford to keep both, how can i get out of the lease?
Thanks

anotherbigspender

Opt out of the company car scheme and use the cash alternative to pay the monthly lease?

edwardw

not sure i have that option tbh!
plus it would cost me more to insure for business, and increased milage on the car...
no way?

Hintza

Read your T&C's I think the normal to cancel is about 6 months payments; it will be covered in your agreement.

edwardw

i asked them, they advised about 2.5k, cant afford that, any other ways?

plane_boy2000

Hand it back, ruin your credit rating and let them chase you for the 2.5K plus charges......or just pay the 2.5K.

Cars depreciate quickly up front - a lease spreads that cost over 2 or 3 years so you cant expect to just "get out" of it that quickly.

I would ask if you could opt out of your car scheme and take the money - you should find that what they offer you will cover your lease and running costs unless you are running something exotic