Lease cars ending - insurance renewal coming up

KITTYKOMP

Hi All,
I was wondering if anyone had any advice or tips, we have 2 lease cars one to end in July this year and 1 ending in September. Both car insurance ends in Feb so we have to renew soon.

Is there any tips on this as obviously we'll have to end both early and get charged any exit penalties?

Thanks

AdrianC

Presumably you'll be replacing these cars? So why wouldn't your insurers simply transfer cover to their replacements?

You must have done similar when taking these lease cars on, else your policies would be timed the same as the leases, right...?

born_again

KITTYKOMP wrote: »

Is there any tips on this as obviously we'll have to end both early and get charged any exit penalties?

Thanks

Pay in full...##Monthly payments are often just a loan from a 3rd party. As such cancellation can mean still owing more than any refund will be.

KITTYKOMP

born_again wrote: »

Pay in full...##Monthly payments are often just a loan from a 3rd party. As such cancellation can mean still owing more than any refund will be.

We do pay in full, but that doesn't stop early exit fees?

AdrianC

KITTYKOMP wrote: »

We do pay in full, but that doesn't stop early exit fees?

Two different things.

You buy an annual policy. You cancel that, you may have some fees, and you won't get a pro-rata refund.

On top of that, you may have a finance policy to pay monthly. You cancel that, you will have more fees.