Lease car early termination query - Arval

[AllOurYesterdays]

The initial message was deleted from this topic on 26 April 2017 at 12:48

[steve-5snwi]

So you want to terminate a contract with 3 months to run ? What are your monthly payments and what's the actual termination fee ? I would have thought it might make more sense to see it through to the end since you are likely to be paying for it anyway.

[wemorgan]

I think his point is that the final invoice is significantly greater than the original quote.

My Arval contract simply states that full rentals are liable plus an admin fee. ie. it's never worth terminating early.

It's curious though that they've found reason to add several thousand to the invoice. Were wear & tear fees added?

[AllOurYesterdays]

The contract is already terminated. Car went a couple of months ago.

What happens is, Arval send you a document to sign to confirm the early termination, the maximum fee on this document is much greater than the 3 remaining rentals, but on the email it's made clear that this is a generic system generated estimate, and the Arval advisor states on the email message itself what the maximum you will be liable for is: the 3 remaining rentals.

It then says below, as I put in the OP, if your final invoice is for more than this amount, you tell them and they will sort it.

It just seems a strange way of going on! There's no mention of wear and tear etc, I assume that will be on another invoice (though it passed BCA inspection with flying colours and has already been sold).

[andy101093]

What did you gain by terminating early? Surely if you have to pay the full remainder of the rentals, it stands to reason that you should keep the car until the end? Unless you were leasing a 10MPG sports car that wasn't worth the fuel and you didn't want it standing on your driveway for 3 months?

[wemorgan]

Just speculating:
- car due for a major service and 4 tyre replacement
- opportunity to take an even cheaper car earlier - not enough space to keep both at the same time

various reasons I could imagine

[AllOurYesterdays]

I handed it back early for 3 main reasons:

The new car I wanted had to be ordered when I ordered it
I don't want a car sitting around that I have no use for
I have to keep it insured etc which is extra cost

Anyway, I have spoken to Arval and they've confirmed they're cancelling the invoice and the new one will be for the lower, correct amount.

[Casa1862]

I'm returning my Lexus 3 months early, I pay 50% of the remaining rental with no vat included. Worked out ok for me as avoids 2nd service, I'm already over mileage so now cost 12ppm to drive, plus got a good deal on a Skoda Superb with more millage allowance. It seems if you have a contract direct with the manufacturer they seem more reasonable.