VW van lease

gasfitter1972

Ok, im not going bust nor do I need to.

My situation.

Last year I brought ( my name trading as xxxxxxxxxx) a new van from VW on lease.

I thought Id picked the right one but after 6 months have found out I needed the other one I had the choice of:(

Went to them this week and and was told Id have to give them the van back about 2K as well to settle the agreement then I could start fresh.:mad:

I wanted to pretty much swap the lease over for something else but it's not something they will do.

If I folded and started up tommorow would I still be liable. I just feel like Im being shafted somewhat by them. They have made very good £ from me in the last 18 months regarding another deal I had with them

Buzby

Probably. Were/did you take out te lease as a Ltd Co or individual? In either case, was there any liability against you, personally ? Of the VW leases I've seen, they usually do. In which case, folding and restarting will not make this problem go away.

It would be far better to arrange redemption and a new vehicle on the terms you needed as the dealer often has the ability to add benefits (like free servicing or model upgrades in either payload or spec) in return for retaining your custom.

gasfitter1972

Thanks for the reply bud.

What do you mean by arrange redemption?:embarasse

CKhalvashi

gasfitter1972 wrote: »

Thanks for the reply bud.

What do you mean by arrange redemption?:embarasse

Arranging to pay off the original vehicle, and take on new one.

We chucked a VW back last year, as it took three goes for an outside party to actually get it right; I got 120 servicing vouchers (about 2 years worth for our taxi fleet), to be used within 3 years, plus 20% off the original purchase price, as it was useless to us in the state it was in (wheelchair ramp wasn't fitted by a specialist coachbuilder safely enough to pass inspection).

They also humbly apologised to the council, as we have an agreement whereby we will take on 10% of our fleet as wheelchair accessable, and they won't bring in regs for the entire fleet to be as such. We now have 5 such vehicles (on a fleet of 36), and although we threatened to go elsewhere, didn't.

The moral of the story is to speak with them, and see what they'll do. It's better than saying that you won't do xyz for abc reason, in many ways.

CK

Mouse1812

gasfitter1972 wrote: »

Last year I brought ( my name trading as xxxxxxxxxx) a new van from VW on lease.

then it is a personal liability, you owe it which ever way you wish to squirm


ps, what's this doing in the bankruptcy forum?

gasfitter1972

Mouse1812 wrote: »

...............
ps, what's this doing in the bankruptcy forum?

Because I wanted to know if this could be an option.

Mouse1812

gasfitter1972 wrote: »

Because I wanted to know if this could be an option.

Well yes, Bankruptcy is an option, but you won't get another van or anything else for that matter on credit for a very long time. As a sole trader "folding" your business (going bankrupt) ia a personal matter, a personal bankruptcy.

Best avoided unless you have unmanageable debts and little in the way of assets and no concerns about the consequences.