Car lease advice, please

Koalabear

Our household has 3 cars at the moment: my cheap 'run around' which is worth £2,500 (no outstanding finance), and DH's two cars which are worth £9,000 (fully paid off) and £4,5000 (or thereabouts, but still has a lease of £4,000 outstanding). The second car was involved in an accident and has only just been fully repaired. DH is two months behind with the payments, and his proposal is that we sell my car and use the lease car for all the driving (specially long distance as he does a lot of miles) thus retaining the value of the expensive car. I have two concerns: 1) although my car is only cheap, it’s fully paid and I there was a desperate moment, I could sell it to raise some extra cash (and it’s mine!) whereas if we go ahead with the arrangement, I potentially have a more valuable car with £2,000 finance to pay; 2) I am concerned about DH’s ability to manage his money and how we are going to meet the repayments once we’ve used up the money from my car, plus the cost of running the lease car (not with fuel but maintenance, etc). Advice, please?
The finance company has refused a settlement offer by the way.

AndyT678

No brainer for me...

Sell the 9k car; pay off the lease; have money in the bank to protect against "a desperate moment".

Why would DH think it's a good idea to keep £9k tied up in a depreciating asset that he wouldn't use?

Alt

Does the lease term cover the 'large' number of miles planned without additional mileage cost?


Alt