Voluntary termination - HELP!

[james.dp.mullan]

Hi,

Looking for urgent assistance - my car lease is due to expire 4th July - basically i have one more payment due 1st June, however i don't need the additional month as i have now bought a new car.

Do i have a right to voluntary terminate my lease effective immediately?

My other issue is i am 750 miles above my max 3 year allowance - i assume i as still liable for this if i return the car now?

Also, the company is based in London - would i have to return this at my expense?

Regards,

James

[xs2man]

Re: Voluntary termination - HELP!

Leases are different from other finance products with respect to Voluntary Termination, as far as I know. Pretty sure it won't be worth the hassle trying to get out of it only 1 month early. As far as I know, you can return the car whenever you want though. But you will be liable for the full amount of payments to the end of the lease regardless.

Again, with regards mileage, leases will no doubt be different, and you will likely be liable for this. But it sounds like relatively small numbers here. One months lease cost and about £70 in excess mileage. Not sure it'd be worth trying to fight over.

But I don't know for sure, so maybe better waiting on someone with a bit more knowledge on leases.