Selling a leased car

vandiss

Hi,

Due to a change in circumstances I am looking to get out of a car lease. I am in a 4 year lease with 2.5 years left to run.

Two options appear to be open:

A) Buy out the lease and sell the car privately (could lose me £1500-£2000).
Transfer the lease to someone else.

Obviously, option B is the preferable one here! Even if I offer a £500 "sweetener", I'm still going to come out with a substantially smaller loss and a lot less hassle than buying and trying to sell the car.

Does anyone know of any reputable lease transfer agencies?

I've found a few via Google, but their websites look rather unprofessional!

Maybe best idea to place an advert in the local rag? Does Auto Trader or any other website deal with lease transfers?

Thanks.

barneygumble

I looked at one called swap-a-lease co uk and to be honest it seemed like a joke, they only had three Mercedes listed and some had been on there over a year. So not exactly quick moving or high volume of visitors.

bigjl

There is lots of advice around that says not to trust these companies, they have a habit of of leasing your car on then not giving you the money.

The only person that can advise you correctly is your lease company.

Your situation is one of the many reasons why I would never, ever lease a car. Unless it had tax advantages, or was provided by my employer and my name wasn't on any legal paperwork.

_ollie_

Have you found out your settlement figure yet? It's not worth assuming you will be at a loss.

vandiss

Update: Gave the finance people a call and the settlement figure isn't too ridiculous (maybe £200-£300 over the car's estimated value).

Buy-out looks like a definite option now.

Thanks.