I regret taking a car lease, can I cancel?

Ciwan

Hi Guys

I am on Plan 1 for my Student Loans and yes, those are included in the £50K debt. Should I not include them?

My aunt has not asked for her money back and Mum is very helpful and knows my situation so she is willing to wait.

I am making minimum payments on the things that need a minimum payment. For example, the DFS payment and the car lease payment. Whatever else I have, I put towards my Aunt's, cause I don't know when she'll ask for the money, so I really don't want to let her down, and wish to cross her debt off.

After that, I plan on tackling the Barclays loan.

Is that a bad way to go about this?

macman

Ciwan wrote: »

If I call them and say I wish to cancel my lease, I'm sure they'll ask why. Is it OK if I say I'm broke, and I want to get out of debt?

Saying 'you are broke' does not allow you to cancel your 3 year PCP early without penalty. If they allow you to VT at less than the halfway point, then the terms will be extremely disadvantageous to you.
Getting rid of the car does not magically remove any debt associated with it.