We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
End of van finance lease
Hi,
I Have a van at end of finance lease agreement and have been given the following options:
- pay the final settlement and start a secondary hire agreement, which incurrs an £800 yearly payment.
- nominate a 3rd party to purchase and end the agreement.
I have the cash to pay off the final settlement but would like to own the van without the yearly rental payment.
One way to achieve this would be to nominate a friend to purchase the vehicle and buy it back from them.
Has anyone done this?
Any issues with doing this?
Please advise TQ
Note: i am not VAT registered.
I Have a van at end of finance lease agreement and have been given the following options:
- pay the final settlement and start a secondary hire agreement, which incurrs an £800 yearly payment.
- nominate a 3rd party to purchase and end the agreement.
I have the cash to pay off the final settlement but would like to own the van without the yearly rental payment.
One way to achieve this would be to nominate a friend to purchase the vehicle and buy it back from them.
Has anyone done this?
Any issues with doing this?
Please advise TQ
Note: i am not VAT registered.
0
Comments
-
Why won't they let you purchase it?0
-
Sounds like they are only interested in hiring it out again, instead of selling it? Have you asked about buying it from them?
If you can't then you might be better just walking away and buying another one.0 -
The finance company (VW finance) wont sell it to me,
Google "finance lease money saving expert"
(Cant post links as a new user)0 -
You can add a link as long as your replace the http: with something like hxxp:
They won't sell it to anyone, or just not to you?0 -
]a finance lease usually does not have the option to purchase at the end, Sell/auction it for good, or as you suggest, sell it and buy it back, if you don't want to re-lease0
-
They wont sell it to me direct, but I can nominate a purchaser.
So plan is to nominate a mate, give them the money to buy the van from VW finance - then get them to transfer ownership back to me.
Seems easy? Just wondering if i'm missing something...0 -
Thats very odd. Following on this one for later.0
-
It's not that odd we used to lease laptops where I used to work and that was exactly the same we could continue on a reduced rent or a third party could buy them for a nominal i think £10 after the lease ended.0
-
I can't grasp why they'd only sell them to a 3rd party. But yeah, if they'll allow that, get a 3rd party to buy it and then buy it from them.0
-
Heres a copy of the end of term letter... any advice welcome TQ
httpsX://drive.google.com/open?id=1uWCin-IVAXBWKyVBY3_yVmiC5HwXTUHP
(remove X from http)0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards