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Old 03.01.2021, 21:15
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How to return a leased motorbike

My partner leased a motorbike but can no longer afford the payments insurance etc.

He says he can’t return it it but I think this is not true.

Does anyone know what the usual process is?

I assumed they just took it back and you had to settle x amount.
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Old 03.01.2021, 21:25
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Re: How to return a leased motorbike

Option (1) ask the leasing company

Option (2) find someone to take over the lease
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Old 03.01.2021, 21:30
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Re: How to return a leased motorbike

Option 2 is much more difficult, but worth trying. Mind that lease co has to accept the new party. In option 1 you will likely end up paying a lot.
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Old 03.01.2021, 21:41
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Re: How to return a leased motorbike

Read the contract. It will all be there.
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Old 03.01.2021, 21:44
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Re: How to return a leased motorbike

How long does he have left on the contract?
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Old 03.01.2021, 22:04
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Re: How to return a leased motorbike

Sell it, and use the proceeds to pay off the lease.

If you are lucky, the sale will cover the lease, but often not.

We bought a car from a guy who wanted to do just that (actually, he was at the end of the lease and preferred to sell it to someone for what he had to pay the stealership rather than give it to them and have them resell it for 2-3k more)

Tom
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Old 03.01.2021, 23:46
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Re: How to return a leased motorbike

Usually in leases there are cash penalties if you return the leased object before the end of the contract. There must be a table in the contract that says how much should be paid as penalty for every month on the lease.
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Old 04.01.2021, 10:41
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Re: How to return a leased motorbike

I don't know if it's the same thing for motorbikes, but at least with cars, the "gray card" if under lease has a mention that the vehicle cannot be sold to someone else until this mention is removed (such as having paid off the item in full). So selling it to someone else may require additional hoops such as them fronting the necessary cash so you can outright purchase the motorbike from the initial seller before it can be handed over to the new buyer.
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Old 04.01.2021, 11:05
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Re: How to return a leased motorbike

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I don't know if it's the same thing for motorbikes, but at least with cars, the "gray card" if under lease has a mention that the vehicle cannot be sold to someone else until this mention is removed.
When we bought one, we received and paid for the car, the previous owner paid off the lease, and mailed us the updated grey card.

Tom
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Old 04.01.2021, 11:26
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Re: How to return a leased motorbike

I also know that if there is a leasing company in the works, they would be the ones to send a letter to the current owner stating that the vehicle special mention in the gray card can now be eradicated as the lease has been paid in full (as an example).

This is what happened for one of my cars that I had on lease and had finished paying off (I decided to keep her). This letter told me I can go to the local vehicle authorities office (SAN in my case in Vaud) to replace the gray card with the mention removed. Now I can sell the car to anyone I want with no restrictions.
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