any body want transfer there remaing lease or finance over?

[hsv123]

hi people i am looking for a db9. needs to be in good condition. if you want to pass over you remaining lease or fianance repayments p.m me! anything below 900 a month!

[MogulBoy]

It amazes me why this kind of thing is not alot more prevalent in Europe, the Yanks have been at it for years.....

http://www.leasetrader.com/

[hsv123]

i know!!! any one interested?

[matc]

MogulBoy said:

It amazes me why this kind of thing is not alot more prevalent in Europe, the Yanks have been at it for years.....

http://www.leasetrader.com/

I can't see how this would work in the UK, the company who owns the vehicle (finance house), would have to be happy the that the person who was taking over the lease was credit worthy, and was intending to make the payments.

For example typically when leasing/contract hiring a car in the UK, the finance companies ask for a minimum of 3 payments up front as a form of commitment from the customer; surely lease swapping is open to fraud, and if not done through the finance company would end up with the current lease holder being liable for any mossed payments.

I guess the only way it would work is if the lease companies arbitrated it, and advertised on behalf of their customers.

[hsv123]

no i am not aksing people to to it that way. it goes throught the finanace company they would do there credit check extra. all it is , is if you cant afford your car any more you can get somebody else to take over the repayments! simple. nothing fraudlent can happen. reagrding the depsoit you may have put down thats something you will loose!!

[matc]

Do you know of any finance companies that would be willing to transfer lease's then? As far as I'm aware, any of the finance houses I deal with would run a mile. I can't see that they would benefit at all from it as the original leasee would be under contract to continue their payments.

Don't get me wrong I think it's a good idea, I just don't think at present we have the mechanism in the UK to make it work.

[hsv123]

dude i have some body doing that already for me with lombard fiance. he cant pay his finance any more and his company has gone bankurpt. he has asked them if he can find some body else to carry on the arrangment and they have said yes depending on the his her credit rating!!!

[hsv123]

mat if some one cant pay for the car any more thats it they cant . the fianace company take it back so it would benfit them if somebody else is willing to carry on the payments if there credit rating etc is in line have assets you know the usual stuff!

[matc]

hsv123 said:

dude i have some body doing that already for me with lombard fiance. he cant pay his finance any more and his company has gone bankurpt. he has asked them if he can find some body else to carry on the arrangment and they have said yes depending on the his her credit rating!!!

Sounds fair enough to me, just never realised this was something you could actually do!!

Perhaps finance companies should be advertising outstanding lease agreements, rather than shoving everything through their auctions at massive losses.

[hsv123]

prob due to time. finding people to take over other people payments is time consuming = money $$. fiance company have probably made there money back on the interest the customer has paid already so they just sell the cars through auction

[Gonad]

Somebody has tried to do this in the UK but i don't think it has proved sucsessful http://swap-a-lease.co.uk/search_results.cfm as it never seems to have any cars