Giving back a lease car early

somerteight

Hi all,I`ve had a Renault Megane on one of those option deals for 26months out of a 36month deal, I put down a £1000 deposit, and I wondered,could I just hand it back before my 36 months are up without any penalties and also would I be entitled to any cashback,because the car has done less mileage per year than agreed and I put down a deposit,I would rather ask you people because I know I will get an unbiased answer,many thanks.

p.s. My apologies if this kind of thing has been posted before.

:money: and you people saved me money at Ikea,thanks (21%)

maninthestreet

Check the terms and conditons of the lease agreement, to see if early termination by you is allowed, and whether any charges are levied for this.
It's unlikely you will get any moneyback at all, and you are quite likely to have to pay an early termination charge.

antuk

There is a mandatory 50% handback clause on Hire Purchase finance agreements, whereby once you have paid 50% of the total price you can return the car and terminate your lease, you wont get any money back though after this point so the best time to do this is right at the 50% mark...