anyone here have to settle early, dad has just given me his old car so my lease car is no longer needed.
going to phone them tomorrow but thought someone may be able to offer some advice before i go..

Did he give you the Porsche?

How much have you paid?

h ano i dont want the porsche!

bruneep, i've had it for just under 2 years paying £100 per month

sorry, is it on PCP/HP or is it a leased car.

as an ex car dealer if it's a straight finance lease (no ownership) then you will most likely have to pay all the remaining payments (although read the contract as it may allow you out of you have paid more than x payments (it will be in very small writing!!)
If it's balanced payments then you should be able to get out immediately (but unlikely at 100/mth)
If it's Lease Puchase/HP then you can sell the car and hopefully clear the debt with little or no settlement…. From memory i think select 3 is HP, but cant be sure!!
Good luck

P.S. if you cant get out you can always have a deal on the side with a mate and rent it out, but make sure you get it fully insured (and dont tell the lease company!!)

Can you end HP early other than paying a one final payment?

er not sure what pcp is?
its here though
linky

edit, its a pcp

I'm pretty sure as long as you have paid more than 2/3rds* of the payments you can hand the car back without penalty. *Check the small print on your agreement.

I did this with car a few years ago, finance co said all sorts of blah de blah shite about never getting credit again as it would hurt my scoring, again shite.

They sent a chap round to inspect the car and I had to take it to the car auction place in Edinburgh. Took the car there and that was that.

edit
http://forums.moneysavingexpert.com/showthread.html?t=371551

ah cool, i'll recheck my contract but tbh i can't make any of it out really!!
cheers

PCP is personal contract purchase. It's the consumer version of Lease Purchase. You pay a small deposit, reduced monthly payments and the a balloon/final amount (usually beyween 35-50% of the purchase price)is payable when you sell the car……….

Also i'm sure bruneep might be right and you can check through Citizens Advice.

On hp you can hand the car back when you have paid 50% of purchase price

just browsed my agreement and its all in gobbledygook. will phone then tomoz.