Selling a car lease?

Succamo

Hi Guys,

I have looked into the possibly of selling my car lease as my circumstances have changed.

Is it a good idea to sell it as I have found a number of websites where people are buying and selling there leases.

Also will it affect my credit rating and are there usually any charges for doing this kind of thing?

Many Thanks

SeanG79

Not sure you can sell a lease. The lender would need to "novate" the agreement and I don't think many will be prepared to do this. Be careful you aren't still liable for the payments once you have "sold" the lease and also check your lease contract, it is most likely a breach of the T&Cs to give control of the vehicle to a 3rd party.

WillyWonga

Sounds dodgy. Speak to your lease provider. Are we talking PCP or lease? If PCP you have the V5 document whereas lease the lease company holds it.

Sounds like a hand over the car in a pub car park and we will "promise" to pay off the finance company.

Phone up and explain your change of circumstances and see what they offer.