Hand lease car back or see it out to the end

jbkmum

I pay £360 a month for a lease car (all inclusive). Car goes back in February, I have 6 payments of £360 left.

I could hand car back now and pay £194 for 6 months.

My ex would give me the corsa which I think would cost me £60 to insure and tax. £50 for maintenance.

£100 a month for fuel

Keep Lease car - £460 a month
Hand lease car back - £454 a month

Keep lease car til the end?

BoGoF

And as I understand it you would need to pay the £194 x 6 as a lump sum to terminate the lease.

jbkmum

I don't need to, I am able to pay it off over 6 months

BoGoF

Have they confirmed that?

Is it not just £404 if you hand car back?

Are the cars of a similar age?

jbkmum

Yes they have, they've worked out a payment plan due to circumstances.

Lease car is 2016, Corsa is 2012

I could get the corsa in February when the lease car ends however.....as he doesn't want to spend money on it when he lives close to his work

getmore4less

For £6 difference keep the lease car. No unknowns.

With the corsa your costs could be higher or lower depending how you split maintenance for someone else's car.

[Deleted User]

Handing it back early to save £6 a month?

I'd just keep it until the lease is up.

username901

As above, keeping the car is a no brainer. That £6 a month saved could be lost if you have to pay an admin to change car details over for insurance.

jbkmum

Thank you all for your advice, keeping it til lease end