Lease Car Early Termination

jacsll55

I am looking to return back my Hyundai early, I am on a 18 months lease with 8k miles/yr
I have 4 months left on the lease and have done 10K now. I pay £170 pm
This is the quote they have sent me today:
I can confirm that if you wish to early terminate your contract with us, the fee for this would £213.00 excluding VAT. This quotation is for your rental payments only and is based on 50% of your outstanding rental payments.
You may also be subject to further costs:
Excess mileage if you have exceeded your allowed mileage for the period of use.
End of Contract damage, if upon inspection, the condition of your vehicle is outside of the BVRLA standards.
1 months unbilled rental if your contract is billing in arrears

Will be better off leaving it till the end of the lease and pay the extra mileage costs?

neilmcl

Do you have excess mileage to pay? We can't see your contract so only you can tell whether it's cheaper to keep it to the end or not.

jacsll55

neilmcl wrote: »

Do you have excess mileage to pay? We can't see your contract so only you can tell whether it's cheaper to keep it to the end or not.

Yes excess mileage is @9p
Done 10k+ now with 4 months remaining. total mileage for the 18 months is 12K.
I am planning to buy a car.

AdrianC

8k x 1.5yrs = 12k total = 666 miles/mo
You're 14mo in, so your pro-rata allowance is 9,333 miles.
At 9p/mile, you're currently looking at about £60 excess mileage.