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Thread: Transferring lease van half way through contract

  1. #1
    Craftsman
    Join Date
    Jun 2015
    Location
    North East
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    560

    Transferring lease van half way through contract

    I have a 2018 Transit Custom on lease at the moment, there is about 14 months left on the lease and due to a slight change in circumstances I dont really require the van any more, in fact it has barely moved the last 2-3 weeks!
    Obviously I could pay the remaining balance and just hand it back but that wont be cheap so I was thinking about transferring it (providing I can find someone). Has anyone on here done that before and if so what costs were involved?

    Its on lease through Evans Halshaw but the invoicing is direct from Ford. If the above is possible I will post it on SC in the coming weeks as its a great high spec van, I paid approx £1300 deposit so the new owner doesn't need to pay anything and its only £180 per month (excl VAT) with about 11,000 miles left on the allowance until it needs to go back so a good deal for someone to take over if possible.

  2. #2
    It all depends on the terms and conditions of the lease. When you went for the deal, you would have undergone credit checks etc etc to be accepted. I doubt the leasing company will let anyone just walk in and take on the lease. Itís probably best to check with the lease company if itís possible.

  3. #3
    Grand Master number2's Avatar
    Join Date
    Jul 2011
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    Quote Originally Posted by kungfupanda View Post
    It all depends on the terms and conditions of the lease. When you went for the deal, you would have undergone credit checks etc etc to be accepted. I doubt the leasing company will let anyone just walk in and take on the lease. Itís probably best to check with the lease company if itís possible.
    This ^^^^^ a finance agreement cannot simply be passed about, it would have to be re-assigned with the appropriate credit checks, if this is permitted under the terms of the lease there will be a charge, talk to the finance company.
    "Once is happenstance. Twice is coincidence. The third time it's enemy action."

  4. #4
    Craftsman
    Join Date
    Jun 2015
    Location
    North East
    Posts
    560
    Thanks, I will give them a bell tomorrow.

    If its going to be a hassle or a lot to clear the balance I will just let the contract run and use it as a run around.
    Its leased through my company so I re-claim the vat and suppose it will still come in handy now & again for any bigger loads.

  5. #5
    Journeyman
    Join Date
    Oct 2013
    Location
    Norfolk UK
    Posts
    182
    Normally to hand it back you will pay half of the rentals due.

    Sent from my Pixel 2 XL using Tapatalk

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