Car Leasing - how to end contract early

rennies

I have entered (foolishly)into a 3 year car lease contract which I can no longer afford. If I want to give it back early I will get hit with around a £4k early redemtion charge.

Anyone know of any way of getting out of this without this penalty? I own my own house and have a clear credit rating but due to an imminent divorce need to get out of this contract.

marmitedog

When I worked in vehicle leasing it was 50% of the outstanding rentals. If they take the car back and put it through auction they'll lose a fortune. They have to make it back somehow.

A contract is a contract unfortunately.

There is a website that acts as a broker for people wanting to sell/buy the contracts. Google "swap a lease" or "take a lease".

forgotmyname

As above try and sell the balance to someone else.

Not sure how that works. Who chooses who can and cant have it?

The lease company after credit checking the applicant?