Hi
Does anybody have any experience in returning their lease car early? I have to get out of my lease 2 years before it is due to end and am very scared as to what the penalty might be. I have been told by the lease company that they can't tell me what it might be and the dealer has said that to return it I sign it over, they then take it and evaluate it and then tell me what I will need to pay. No ball park figure and no option.
Am now looking for someone to take over the lease from me but in case I can't find someone in time I really would like to have some sort of idea in my mind as to how bad it might be.
Any one been there?

Yes. A search on the forum will show you that they have.
Car lease take over

Are you just getting out of the contract or are you leaving the country? If the latter, then it should be easy..

Thanks Summerrain but I did search first and this thread doesn't actually give me the information I was looking for.

I'm leaving the country but I'm interested to know if anybody can give me an idea of what size the penalty will be.

The reason why you are leaving the lease is not really important. In the end you will be clobbered with a fee - however you structure it.

Depending on who you lease with will depend on the cost.

I got hit hard on the Volvo - because I wanted out (2 years early).

On the Z4 there was no penalty because it was an interest free lease

There are 2 ways of paying off the lease:

1) Terminate. Pay the lease company an amount based on the table of information in your lease agreement
2) Sell and repay. Sell the car (usually to a garage) - who will settle the lease with the lease company.

Either way, 2 years early is not cheap - especially if the car was new when you bought it. Let me know the price of the car, number of months in the lease, how many months you have paid, and the monthly rate - I can get you an idea of the cost - based on Lease Now rates.

Most of the mind readers are on holiday just now, so for the rest of us make/model/year/mileage/payment/deposit in other words detail would maybe get you some answers, otherwise it's string length guessing.

It does. If you read my post on there, it shows you a website where you can find people to take over the lease without incurring any charges. Thats your main objective isnt it?

Why not send a Mail to the Leasing company
- They should be able to help you.....

as there have been a couple of people recently asking about taking over someones lease, if you post some details about the car you may get lucky and someone here will take it over, just a thought like.

giving it back as is now will no doubt cost you quite a bit, even more so if you've gone over the milage.

eta without knowing any details of your car its impossible to say, but I know someone who gave back a peugot 106 (so some time ago now) in mint condition, low milage, all the extras (silly boy) and had to cough up £3.5k to walk away.

Thanks Dodgyken and in case someone out there might be interested.

The car is a 2008 Renault Megane Grandtour 1.9dCi FAP Dynamique.
Silver metallic in excellent condition and a really great car.
I did buy it new in 2008 for CHF36,750.00.
It is a 48 month lease contract of which I have paid so far 25 months. The monthly rate is CHF557.50
There is a 20,000 km per year allowance but the car is well under that after 2 years with 32,300 km on the clock.
I paid CHF1000 Kaution and CHF2000 deposit.
The residue to be paid in 23 months is CHF10,500.

I have already been in contact with Lease2Lease and the car is being posted there but that wasn't my original question.

christ!!! that was a stunningly bad deal, sorry. I think you'll be hard pushed to find anyone willing to take on that for 557chf a month.

You are best starting a new thread with the details you've posted above for more visibility. Good luck.

Even worse than that is when I took on the lease I asked the salesman about what would happen if I had to leave the country early and he assured me that I could sell the car and pay Renault back "because he had done it".
Well according to Renault "no chance".

they are selling for around 20k chf

http://www.autoscout24.ch/AS24Web/De...&page=2&row=16

doing some quick mental arithmetic, I recon its going to cost you 4k chf to walk away, assuming the car is ok

ETA I am probably totally wrong though

To echo BB2, damn that is harsh!

I have the Laguna kombi and they are great cars, but I can only see $ pain at the end of this for you Canta. I'd save yourself the hassle and stress of trying to get someone to take it on, especially on those figures, and take it in and ask for the termination cost then walk away.

Sorry

Based on your numbers:

1) Handpack to Renault and walk away: 11,100chf (Possibly minus the 3000chf deposit and kaution - I am not sure)
2) Garage to buy and repay
Repayment of lease = 22,400chf (assuming no months interest penalty - around 85chf per month)
Retail price on Autoscout: 20,000chf (sample size very small)
Est. price paid by garage: 16,000chf
Additional required: 6,400chf

The lease is 2.75% interest - which isn't bad. The biggest problem is the low deposit.

EDIT:

Double check your Restwert - is normally quoted without MWST - if that is the case then your interest rate is closer to 3% per year - meaning you have 22,600chf left to pay. Either way - you are looking at a sizeable bill. Sorry for the bad news.

Thanks guys.
I knew it would be bad. Am effectively "up the creek" so to speak.
The Restwert does inkl. MWST so theres something.
Can't begin to express the mess this puts me in so am going to have to cross everything and hope.
The dealer never even suggested that they buy it, I will sound them out.

I can't see a dealer wanting to take the car off your hand for any more than 20k chf - and that is a push. Anyone actively looking for a Megane Estate will be tempted by a 2007 model (retail 14-24k) or the new model (2009) starting at 31k.

Sorry to say - but it was the wrong car to buy at nearly full list price - and what you saved earlier with a low deposit you will now pay.

I can't see there to be a "cheap" way out of this for you.