Go Back   English Forum Switzerland > Help & tips > Transportation/driving
Reply
 
Thread Tools Display Modes
  #1  
Old 25.08.2016, 14:11
Newbie
 
Join Date: Aug 2016
Location: Stabio
Posts: 3
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
chillout has no particular reputation at present
Taking over a car lease

Hi All,

I am aware of the fact there are different threads about taking over a car lease, but what I am nor sure about is the difference between:

1. take over a used car lease (from a garage, eg AMAG)
2. take over someone's car lease (ex colleague)

When I take over someone else's lease, does the initial deposit they (the previous "owners") paid to the garage need to be paid back to the them?
Is this something that can be negotiated or it's the same amount?

What other differences/advantages are there?

Thank you!
Reply With Quote
  #2  
Old 25.08.2016, 14:37
dodgyken's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Democratic Republic Kenistan
Posts: 9,806
Groaned at 340 Times in 276 Posts
Thanked 17,416 Times in 6,660 Posts
dodgyken has a reputation beyond reputedodgyken has a reputation beyond reputedodgyken has a reputation beyond reputedodgyken has a reputation beyond reputedodgyken has a reputation beyond reputedodgyken has a reputation beyond repute
Re: Taking over a car lease

Typically the deposit represent day zero depreciation - and I'd not expect to pay anything to the original lessee to take over the lease.

If you do take over a lease make sure you inspect the car thoroughly and make an allowance for any non-"wear and tear" damage as you will liable for it at the end of the lease.

If the monthly payments reclaiming PLUS the final payment exceed the market value of similar cars then don't bother.
Reply With Quote
The following 4 users would like to thank dodgyken for this useful post:
  #3  
Old 25.08.2016, 14:58
bigblue2's Avatar
Forum Legend
 
Join Date: Mar 2009
Location: Glarus
Posts: 6,147
Groaned at 309 Times in 249 Posts
Thanked 9,500 Times in 3,865 Posts
bigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond repute
Re: Taking over a car lease

if you're taking over a lease also check the KM limit and how many KM the car has done, if you go over the lease limit you'll have a very nasty bill at the end of it. (the actual price per km over the limit will be in the contract)

There are a few 'classic' threads on here where people have asked someone to take over there starship km over lease.
Reply With Quote
This user would like to thank bigblue2 for this useful post:
  #4  
Old 25.08.2016, 15:24
Verbier's Avatar
Forum Legend
 
Join Date: Jul 2008
Location: Lully VD
Posts: 3,459
Groaned at 11 Times in 11 Posts
Thanked 3,257 Times in 1,715 Posts
Verbier has a reputation beyond reputeVerbier has a reputation beyond reputeVerbier has a reputation beyond reputeVerbier has a reputation beyond reputeVerbier has a reputation beyond reputeVerbier has a reputation beyond repute
Re: Taking over a car lease

Quote:
View Post
Typically the deposit represent day zero depreciation - and I'd not expect to pay anything to the original lessee to take over the lease.

If you do take over a lease make sure you inspect the car thoroughly and make an allowance for any non-"wear and tear" damage as you will liable for it at the end of the lease.

If the monthly payments reclaiming PLUS the final payment exceed the market value of similar cars then don't bother.
I would suggest that you have a full "end of lease" inspection by the dealer and get the details on damage etc. fully documented (photos and in writing) as well as a written cost for whatever needs to be done to bring the car up to standard for the dealer. Or better yet, have the seller get all the work done on the car NOW and then you are certain that the car is up to the dealer's requirements.

If you don't do this stuff you may be in for a nasty surprise when the lease is up (and as mentioned above you may have some extra costs that make the deal a non starter).
__________________
Do or do not, there is no try(ing). Yoda
Reply With Quote
  #5  
Old 25.08.2016, 16:16
Susan57's Avatar
Forum Veteran
 
Join Date: Sep 2009
Location: Kilchberg ZH
Posts: 884
Groaned at 23 Times in 8 Posts
Thanked 1,164 Times in 442 Posts
Susan57 has a reputation beyond reputeSusan57 has a reputation beyond reputeSusan57 has a reputation beyond reputeSusan57 has a reputation beyond reputeSusan57 has a reputation beyond repute
Re: Taking over a car lease

I took over another EFer's lease when she unexpectedly had to return to the UK. Her car was in perfect condition, had been inspected by the garage and was far below the allotted kilometers. It was a great deal for me, as I simply had to take over the payments, without any deposit.

Last edited by Susan57; 25.08.2016 at 16:18. Reason: Typo
Reply With Quote
This user would like to thank Susan57 for this useful post:
  #6  
Old 09.09.2016, 06:31
Newbie
 
Join Date: Aug 2016
Location: Stabio
Posts: 3
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
chillout has no particular reputation at present
Re: Taking over a car lease

Hi All,

Thanks for your replies.

Update with all details:

VW Polo TSI 1.2 design
Automatic
From 2013
31000 km
Current value 8.500 CHF
No deposit is requested to take over the lease
182CHF per month
24 months lease / 9 months have already been paid
Initial deposit was 6000 CHF for a used car of 15.200 of value at that point in time
Lease plan 9000 at 3.9%
Annual allowance: 15,000km
Processing fee for the name change 350CHF

What i need to do now is:
1. Find out how many km have been used for this year
2. Get a "end of lease check" by the initial provider

I find it a fair deal, pls correct me if i'm wrong.
Kindly advise if the 2 points on my to do list are the only ones to be taken care of, or if I am forgettig something.

Thanks a lot!
Reply With Quote
  #7  
Old 09.09.2016, 10:04
proksy's Avatar
Member
 
Join Date: Nov 2009
Location: Zurich
Posts: 123
Groaned at 1 Time in 1 Post
Thanked 33 Times in 20 Posts
proksy has no particular reputation at present
Re: Taking over a car lease

"Typically the deposit represent day zero depreciation - and I'd not expect to pay anything to the original lessee to take over the lease."

Isn't the first deposit made in order to bring your monthly lease payment down so that it not a burden on you every month.
If yes, then when transferring the lease to someone else it would be fair to ask for proportional deposit/down payment.

or am I getting it wrong ?
Reply With Quote
  #8  
Old 09.09.2016, 10:22
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 13,744
Groaned at 209 Times in 181 Posts
Thanked 11,052 Times in 6,271 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Taking over a car lease

Quote:
View Post
"Typically the deposit represent day zero depreciation - and I'd not expect to pay anything to the original lessee to take over the lease."

Isn't the first deposit made in order to bring your monthly lease payment down so that it not a burden on you every month.
If yes, then when transferring the lease to someone else it would be fair to ask for proportional deposit/down payment.

or am I getting it wrong ?
Your wrong, a new car will depreciate 20-30% in it's first year, unless you make at least 25% deposit the car is likely tol be worth considerably less than the future payments. If only a 10% deposit was paid you would need to pay someone to take over the lease.......
Reply With Quote
  #9  
Old 09.09.2016, 10:28
eyebeebe's Avatar
Forum Veteran
 
Join Date: May 2009
Location: Pfäffikon SZ
Posts: 1,098
Groaned at 11 Times in 10 Posts
Thanked 950 Times in 474 Posts
eyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond repute
Re: Taking over a car lease

Quote:
View Post
"Typically the deposit represent day zero depreciation - and I'd not expect to pay anything to the original lessee to take over the lease."

Isn't the first deposit made in order to bring your monthly lease payment down so that it not a burden on you every month.
If yes, then when transferring the lease to someone else it would be fair to ask for proportional deposit/down payment.

or am I getting it wrong ?
You're getting it wrong. Try asking a car salesman how much he will pay to buy back from you tomorrow the car that you buy from him today. Hint 8% of what you just paid him is MwST/TVA (VAT) and he has to be able to sell the car on for a profit.
Reply With Quote
  #10  
Old 09.09.2016, 10:46
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 13,744
Groaned at 209 Times in 181 Posts
Thanked 11,052 Times in 6,271 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Taking over a car lease

Quote:
View Post
You're getting it wrong. Try asking a car salesman how much he will pay to buy back from you tomorrow the car that you buy from him today. Hint 8% of what you just paid him is MwST/TVA (VAT) and he has to be able to sell the car on for a profit.
VAT on a second hand car is only charged on mark up, not full sales price.
Reply With Quote
  #11  
Old 09.09.2016, 10:54
eyebeebe's Avatar
Forum Veteran
 
Join Date: May 2009
Location: Pfäffikon SZ
Posts: 1,098
Groaned at 11 Times in 10 Posts
Thanked 950 Times in 474 Posts
eyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond repute
Re: Taking over a car lease

Quote:
View Post
VAT on a second hand car is only charged on mark up, not full sales price.
I was talking about a new car, but a useful point nevertheless.
Reply With Quote
  #12  
Old 09.09.2016, 10:59
proksy's Avatar
Member
 
Join Date: Nov 2009
Location: Zurich
Posts: 123
Groaned at 1 Time in 1 Post
Thanked 33 Times in 20 Posts
proksy has no particular reputation at present
Re: Taking over a car lease

Quote:
View Post
Your wrong, a new car will depreciate 20-30% in it's first year, unless you make at least 25% deposit the car is likely tol be worth considerably less than the future payments. If only a 10% deposit was paid you would need to pay someone to take over the lease.......
In my example I am talking about a 1 year old car. Where I paid roughly 15% of the price as deposit/down payment to reduce my monthly lease.
off course if do not continue the lease after the lease period (3 year) or do not purchase it by paying the remaining cash I would add the deposit to total lease amount I paid as lease to use the car for 3 years.

so if I want to terminate my lease and someone wants to take it over I would expect the new leasee to pay the proportional amount for remaining months from this first lease period. ( i will have to pay the lease transfer cost/fine etc. which is fine)
Reply With Quote
  #13  
Old 09.09.2016, 11:06
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 13,744
Groaned at 209 Times in 181 Posts
Thanked 11,052 Times in 6,271 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Taking over a car lease

Quote:
View Post
In my example I am talking about a 1 year old car. Where I paid roughly 15% of the price as deposit/down payment to reduce my monthly lease.
off course if do not continue the lease after the lease period (3 year) or do not purchase it by paying the remaining cash I would add the deposit to total lease amount I paid as lease to use the car for 3 years.

so if I want to terminate my lease and someone wants to take it over I would expect the new leasee to pay the proportional amount for remaining months from this first lease period. ( i will have to pay the lease transfer cost/fine etc. which is fine)
No buyer would ever do that as the car is worth less than outstanding. Why not see how much you have to pay for 'early termination'.

The lease transfer is an administration fee not a fine.
Reply With Quote
  #14  
Old 09.09.2016, 11:15
proksy's Avatar
Member
 
Join Date: Nov 2009
Location: Zurich
Posts: 123
Groaned at 1 Time in 1 Post
Thanked 33 Times in 20 Posts
proksy has no particular reputation at present
Re: Taking over a car lease

Quote:
View Post
No buyer would ever do that as the car is worth less than outstanding. Why not see how much you have to pay for 'early termination'.

The lease transfer is an administration fee not a fine.
.. need to do some calculations myself again.
But at least I am confident/certain (based on current market prices for same model and situations- miles, age etc) that after the lease period ends the car is much more worthy than the outstanding amount and hence I will not return it but rather buy it cash by paying the outstanding.

Unless the garage decide not to sell it to me. and I have not heard of such situations.
Reply With Quote
  #15  
Old 09.09.2016, 11:25
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 13,744
Groaned at 209 Times in 181 Posts
Thanked 11,052 Times in 6,271 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Taking over a car lease

Quote:
View Post
.. need to do some calculations myself again.
But at least I am confident/certain (based on current market prices for same model and situations- miles, age etc) that after the lease period ends the car is much more worthy than the outstanding amount and hence I will not return it but rather buy it cash by paying the outstanding.

Unless the garage decide not to sell it to me. and I have not heard of such situations.
Cars typically sell for 2/3 asking price, so it's value is less than on a dealers forecourt.

The garage does not choose to sell it to you at the end of the lease, it's what is written in the contract that counts, which is unlikely to be with the garage but a Bank / Finance company.
Reply With Quote
This user would like to thank fatmanfilms for this useful post:
  #16  
Old 09.09.2016, 12:51
Fish Paste's Avatar
Senior Member
 
Join Date: Jun 2013
Location: North
Posts: 362
Groaned at 7 Times in 4 Posts
Thanked 422 Times in 201 Posts
Fish Paste has earned the respect of manyFish Paste has earned the respect of manyFish Paste has earned the respect of many
Re: Taking over a car lease

Looking at the figure from the OP.
9 months ago someone entered into some agreement on a car selling for CHF 15,200

Today, 9 months later, the value of the car is Chf 8,500 ????

Has someone been Switzerlanded here?
Reply With Quote
  #17  
Old 09.09.2016, 12:57
Forum Legend
 
Join Date: Jun 2008
Location: Zurich
Posts: 4,650
Groaned at 152 Times in 118 Posts
Thanked 9,561 Times in 3,217 Posts
k_and_e has a reputation beyond reputek_and_e has a reputation beyond reputek_and_e has a reputation beyond reputek_and_e has a reputation beyond reputek_and_e has a reputation beyond reputek_and_e has a reputation beyond repute
Re: Taking over a car lease

Quote:
View Post
Looking at the figure from the OP.
9 months ago someone entered into some agreement on a car selling for CHF 15,200

Today, 9 months later, the value of the car is Chf 8,500 ????

Has someone been Switzerlanded here?
this is the cheapest similar Polo, still for 10900 CHF
www.autoscout24.ch/3766153
if that is the selling price, the buying price may very well be 8500 CHF.
Reply With Quote
  #18  
Old 09.09.2016, 12:58
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 13,744
Groaned at 209 Times in 181 Posts
Thanked 11,052 Times in 6,271 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Taking over a car lease

Quote:
View Post
Looking at the figure from the OP.
9 months ago someone entered into some agreement on a car selling for CHF 15,200

Today, 9 months later, the value of the car is Chf 8,500 ????

Has someone been Switzerlanded here?
Thats about normal, the resale value at the time would have been 2/3 of dealer asking so 10,133 nine months ago, 8,500 today is about right,
Reply With Quote
  #19  
Old 09.09.2016, 13:07
Fish Paste's Avatar
Senior Member
 
Join Date: Jun 2013
Location: North
Posts: 362
Groaned at 7 Times in 4 Posts
Thanked 422 Times in 201 Posts
Fish Paste has earned the respect of manyFish Paste has earned the respect of manyFish Paste has earned the respect of many
Re: Taking over a car lease

And in 15 months time the final 'buy back' will be 4,800.

That's 2/3rds loss of value in 24 months.

Who said German cars retain their value? Or is it just the dealer margins have a greater effect on the sub 20k cars?

Last edited by Fish Paste; 09.09.2016 at 13:09. Reason: more
Reply With Quote
  #20  
Old 10.09.2016, 15:18
Newbie
 
Join Date: Aug 2016
Location: Stabio
Posts: 3
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
chillout has no particular reputation at present
Re: Taking over a car lease

Hi All,

Thanks a lot for your comments.

Is the full "end of lease" inspection done by the dealer, a service which is included in the admin fees? Or does it need to be paid separately as an additional service they provide?

Based on the figures above, what would be the amount to be paid at the end of the lease? My calculation says around 3000CHF. Is that correct? I took into consideration that the car will be worth 1/3 less of what is worth now (i will check this with the dealer, but would like to have an idea before hand).

Thank you all, you're sorting my life out right now
Reply With Quote
Reply

Tags
car, lease, taking




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Taking a lease car when I move from CH to Germany? DocBrown Transportation/driving 17 27.04.2016 17:02
Taking a UK lease car to Switzerland OlivierH Transportation/driving 36 03.03.2016 13:09
Sublet with Possibility of Taking Over the Lease (Lausanne Centre) amera60 Property wanted 1 23.10.2011 15:57
Taking over a lease Isambard Mews Housing in general 6 14.04.2009 21:38
taking over a car lease moyi Transportation/driving 3 18.08.2008 16:54


All times are GMT +2. The time now is 18:07.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0