Car Lease Help

Saum

I have a 36-month personal lease on my car with approximately 18 months remaining. I pay £391 a month for the car.

When I signed the lease, they gave me the incorrect specification and I leased the vehicle due to features I believed the car had. On their website, it claims that any issues with specifications are not their fault and a third party is to blame.

When I identified the issues after having the car for a week, they began saying they would look into it and after chasing several times they were discussing options with the finance company. I never received a response after that (over a year ago now) - I was stupid not to chase up, but was incredibly overloaded with work and it had been quite a bit of hassle already.

I am looking to return the vehicle early but do not wish to pay 50% of the remaining lease payments due to a new financial situation which has put my significantly worse off and could potentially default on payments.

I was just wondering whether there would be anyway to get out of the lease only paying a minimal fee as they messed up the car originally? The car has only done 10000 miles of the alotted 16000 miles for this 18 month period, so that should help keep the car's equity higher.

Any suggestion is greatly appreciated!

middleclassbutpoor

Accept that your busy workloads not allowing you to deal with the situation has probably left you with few options, other than to stick with it or repay what is required to exit the lease early.

You have had benefit of the car for the length of time you have had it.

You don't explain what your new financial situation is, or why this is relevant to you needing to get rid of the car.

Remove all the back story and the side stories as this is a contractual obligation which neither of these things really matter at this stage.

Saum

I had chased for months but they kept saying they would get back to me tomorrow, etc and after 3 months I had a new job which had a much larger workload and left me barely any time to keep chasing.

sourcrates

Issues with specifications do not release you from your contractural obligations, it may give you leverage for negotiation, but that’s it.

Saum

Anything that would help a negotiation would be great to be fair - if I could reduce it to 25% of the remaining payments, that'd be great.

Will pick up the phone to them first thing and see where I can get.

[Deleted User]

You can voluntarily terminate a HP agreement once you've repaid half the money owed without penalty.

https://www.thecarexpert.co.uk/car-finance-voluntary-termination-pcp-hp/

When arranging a VT make sure you say voluntary termination and not voluntary surrender which is a different kettle of fish entirely.