Car lease after three years.

atro1

Can someone please let me know, if at the end of the three years if you have to go back to the garage the car came from? Do they or anyone only pay the leased car's remaining debt or can you get a better price? Does say a different make of car from another garage only give you in part x the remaining debt?
I do hope this makes sense. What I am trying to do is get more money for our old car!

Cornucopia

I assume you are talking about a PCP rather than a Lease.

With a PCP, you can take the car to whatever reputable dealer you like, and do whatever deal you like with them, so that they will redeem the finance on your old car.

Overall, your options (generally) are:-

1. Pay the GFMV/Balloon payment and keep the car.

2. Give the car back (subject to mileage and condition surcharges) and walk away.

3. Arrange a new deal with the same brand.

4. Arrange any deal with any reputable dealer such that the outstanding finance is settled as part of the deal.


Some people suggest trying to sell the car privately, but if you do that, the responsibility to repay the finance is down to you, even if there is a problem with the sale. Also, the timing may be difficult as the new owner will not want to accept the vehicle with finance showing.

atro1

Might be worth trying to change dealers Wife now had two Skoda Fabia and thought she would try a Dacia or a Kia. But then her mind changes by the moment!! Many thanks.