Company Car and Paying the Lease Off

dan_orchard

Hi All,

I have searched the internet high and low for an answer on this but with no success.

I took a job 18 months ago where they gave me a new company car. They didnt offer company cars but said if I took £7k off my annual salary this would be fine. Ive also paid £7k in tax too!!
So I had the original offer and then a revised offer with £7k removed. But they wrote into my offer that if I ever left the company before the 4 year lease had expired, I would have to pay the remainder of the lease, which would be around £16k which I do not have!
I never signed a lease agreement only a offer with that mentioned.
So if I resign what are my options?

I look forward to hearing back from you as I want to resign within the next few weeks.

Thanks

D

marybelle01

You agreed to the terms of the employment contract - whether you signed it or not is irrelevant, but you did, so it is in black and white. You asked for a company car, and they told you the terms under which they would agree to give you one. Part of that agreement was that if you left within the term of the lease you would be liable for the payments due until the end of the lease. Unless the employer is willing to release you from that agreement, then it seems that the only two options are to pay up or risk being sued (and possibly them deducting the money, or some of it, from your final payments(s) ), or to see if it is possible to transfer the remainder of the lease either to you personally or to your new employer.

dan_orchard

I thought that would be the case.