Personal Car Lease -

Crocoman

First time poster - always a question though isn't it?!

I feel our lease agreement for the car isn't particularly detailed so that's why I'm looking for some advice here if possible.

We've been leasing our car since September 2014 on a 4 year deal. We paid approximately £1500 up front and our payments are affordable.

In terms of looking for a new car - can we - for example, look for something in the new year and sign up on a similar deal early or do we need to wait until nearer the September 2018? We're quite happy to continue with the lease option to be honest. It's through ALD Automotive if that's any help.

Their conditions on early repayment, if you like, are vague at best and it doesn't give you any real world examples of settling early. In fact, the first line of that condition reads ' you MAY be able to settle this agreement early'.

Many thanks
Croc

Joshua_Nkomo

If it is a standard lease as opposed to a PCP you are leasing for set period of time on your case 48 months you won't be able to get out of it without it costing you one way or the other.

Personally I would take a lease for 4 years too long in case of change of circumstance, get bored etc etc.

neilmcl

Is this really a lease or is it a HP/PCP finance agreement. If the latter, yes you can get a new car and settle the finance any time you like but tbh these types of agreement, particularly PCP, are designed to run the full length of the agreement, financially you would lose out by upgrading to a new car early due to negative equity on you current car.