Takemylease.co.uk

hary_j

Hi All,

Anyone ever used takemylease.co.uk for taking on existing car leases. From viewing the site i can see there are some really desperate people who have like one month remaining on their term. 😧

I’ve read from other forums that those with LTD companies are generally able to obtain these, although personal is also an option. Either way these don’t bother me.

What’s your thoughts?


Regards,

Hary

motorguy

hary_j wrote: »

Hi All,

Anyone ever used takemylease.co.uk for taking on existing car leases. From viewing the site i can see there are some really desperate people who have like one month remaining on their term. 😧

I’ve read from other forums that those with LTD companies are generally able to obtain these, although personal is also an option. Either way these don’t bother me.

What’s your thoughts?


Regards,

Hary

One month term remaining suggests maybe theres damage on the car or perhaps a flaw in the service history they know they are going to get penalised for (and thus the new leasee will get penalised for)

Herzlos

Presumably you'd need to get the lease company to agree to it, and I can't see them agreeing.


A few cars there that are way over on the mileage, too. There's one sitting at £2.5k in surplus mileage fees, offering to pay someone £250 to take their lease.

hary_j

Thanks for responding.. i can see some individuals will be hiding stuff but overall would it be worth taking over somebody else’s lease considering you can save on a large deposit

Herzlos

Probably not.

Penelopa.Pitstop

hary_j wrote: »

Thanks for responding.. i can see some individuals will be hiding stuff but overall would it be worth taking over somebody else’s lease considering you can save on a large deposit

Depends on particular case: car model, cost, who's the funder, mileage, damage, etc.

I saw posts from people wanting to transfer their leases on pistonheads.com and there re-posted after months, without results. So there's not a lot of interest. It would have to be great deal.

Also. WVFS is only allowing to transfer lease to limited company, you can't transfer it to private person.

Different funders have different rules and also are good or bad when car is collected. Cars collected by Manheim are usually checked very carefully and a lot of charges is generated. That's why funder is important.

seatbeltnoob

Some people could have genuine reasons, such as leaving the country, need to change vehicle or difficult financial circumstances requires them to give it up.

But from the examples above it does look like there are scumbags out there who are trying to pass it on to avoid big return fees.

Buyer beware is what i'd say.

DoaM

Is there not a buyout clause with PCP? (i.e. Balloon payment). Depending on the vehicle condition, mileage etc. then taking on the lease and paying the balloon payment might still be financially viable?

seatbeltnoob

Anyone want to pay £418.80 a month for a 2017 toyota avensuis? That already owes £2446 in excess mileage, and 7 months left on the PCP?


So £2931 in payments left, £2446 in excess mileage as it stands. You pay 12p a mile for any driving you do from now on.


Sounds like the deal of the century!

Mercdriver

DoaM wrote: »

Is there not a buyout clause with PCP? (i.e. Balloon payment). Depending on the vehicle condition, mileage etc. then taking on the lease and paying the balloon payment might still be financially viable?

This is the difference between a PCP and a lease though - PCPs have a balloon payment to own the car, leases don't and only a few lease companies allow you to buy the car at the end of the term.

seatbeltnoob

Mercdriver wrote: »

This is the difference between a PCP and a lease though - PCPs have a balloon payment to own the car, leases don't and only a few lease companies allow you to buy the car at the end of the term.

Well that's all theoretical anyway, motorguy says vast majority of PCPs are traded in before the end. Who actually actions the right to buy at the end of a PCP deal anyway?


Presumably people who do PCP just want to get their bums in a brand new, up to date model. Don't intend to own a cars to its grave.


Someone who is happy to run cars into the ground wouldn't look at purchasing a car through PCP. They'd buy one right after the bulk of deprecation (2-3 year old), where sometimes the price can be half of it's RRP.