Car Leasing

JOEYjo38

Not sure if I am in the right place as new to this forum. Could anyone tell me what happens with car leasing.
I have been leasing a car now for 2 years and would like to continue leasing another car once this current lease has finished. Would I have to find another deposit for the next car or will I just carry on from here, making monthly payments. Thanks

wgl2014

Unless it's a PCP deal (balloon payment at the end with option to keep the car) then you will end the lease and start afresh. That means a new deposit and finance agreement.

Ebe_Scrooge

What does your contract say ?

And what do you mean by "leasing" ?

It's fairly common for your old car to be used as a deposit for the new car, so long as you meet the T&C's. But it will all be laid out in your contract.

loskie

if it is a LEASE at the end of it you just start again. You are 2 years in yet you don't know! Before you sign up for a new one can I suggest you know what you are getting into.

JOEYjo38

Thanks for the reply. It is a PCP. Had a lot happened between the sign -up and now. Thanks again.

Mercdriver

JOEYjo38 wrote: »

Thanks for the reply. It is a PCP. Had a lot happened between the sign -up and now. Thanks again.

How much of a deposit you will have to find will depend on how much, if any, equity there is in the car you hand back at the end of the term.