Advice regarding a Swiss lease contract please!
Discussion
Hi all.
My sister lives in Geneva and needs to return to the uk in the next few months. She has leased a Skoda through amag in March 2012 on a 36 month contract and will need to give this up. Please advise the cheapest way to do this?
She has been given a 'reprise' price of 10,756 chf which I gather is a price to buy the car and keep it. She's also been given another figure of 2,700 chf (see below). Is this the figure to hand back the car and terminate early?
Two further questions:
- as this is not a finance agreement I suppose there is no VT clause she can make use of?
- is there anything stopping her calling round some Skoda dealers to see if they want to buy the vehicle for stock? If I'm not mistaken any offer over 8,056 chf would be better taking than paying the 2,700 fee.
It's a 2012 Skoda Fabia Monte Carlo 1.2 tsi.
Here's the letter from amag:
And here's the letter about the 2,700 amount:
Thank you in advance!
My sister lives in Geneva and needs to return to the uk in the next few months. She has leased a Skoda through amag in March 2012 on a 36 month contract and will need to give this up. Please advise the cheapest way to do this?
She has been given a 'reprise' price of 10,756 chf which I gather is a price to buy the car and keep it. She's also been given another figure of 2,700 chf (see below). Is this the figure to hand back the car and terminate early?
Two further questions:
- as this is not a finance agreement I suppose there is no VT clause she can make use of?
- is there anything stopping her calling round some Skoda dealers to see if they want to buy the vehicle for stock? If I'm not mistaken any offer over 8,056 chf would be better taking than paying the 2,700 fee.
It's a 2012 Skoda Fabia Monte Carlo 1.2 tsi.
Here's the letter from amag:
And here's the letter about the 2,700 amount:
Thank you in advance!
Edited by AOK on Saturday 22 February 13:53
I can't advise on the french document but I have had this situation in business.
4 choices -
1. Buy the car early to get out of the lease
2. Give back to lease company but pay the early termination charges
3. Ask if a garage will buy the car.
4. Get someone to take over the lease
The best commercial deal on our lease cars has generally been to sell to a garage but all ways cost something.
4 choices -
1. Buy the car early to get out of the lease
2. Give back to lease company but pay the early termination charges
3. Ask if a garage will buy the car.
4. Get someone to take over the lease
The best commercial deal on our lease cars has generally been to sell to a garage but all ways cost something.
I can't give you a definitive answer but would assume that you could speak to someone at AMAG Leasing in english if that helps.
However, my assumption is that she would have to pay the CHF2.7k figure to walk away. (possibly plus the last two months outstanding to take the total monthly payments up to 24).
She could then pay a further CHF10.7k to buy the car outright which would be a good idea if she felt that she could sell it for more than CHF10.7k.
e.g. her total cost to buy the car would be:
24 x CHF393.06 = CHF9,433.44
Plus deposit paid CHF2,777
Plus the early break fee CHF2,701
Plus the 'reprise' CHF10,700 (option to buy it)
Total cost to own the car at the end of 24 months CHF25,611.44
However, my assumption is that she would have to pay the CHF2.7k figure to walk away. (possibly plus the last two months outstanding to take the total monthly payments up to 24).
She could then pay a further CHF10.7k to buy the car outright which would be a good idea if she felt that she could sell it for more than CHF10.7k.
e.g. her total cost to buy the car would be:
24 x CHF393.06 = CHF9,433.44
Plus deposit paid CHF2,777
Plus the early break fee CHF2,701
Plus the 'reprise' CHF10,700 (option to buy it)
Total cost to own the car at the end of 24 months CHF25,611.44
Edited by MogulBoy on Monday 3rd March 12:25
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