Car Contract Lease in the UK? How to Get Rid of my current car?

Does a contract hire in the UK require a credit check. I am not talking about purchasing the car just leasing it for 2 years. Does anyone know any good lease companies? I currently have paid 3 years of a 5 year finance deal on my current car. How can i get rid of this? current selling price is just lower than what i owe on it. Help on both appreciated.

Car Contract Lease in the UK? How to Get Rid of my current car?

you sell it or give it away

Car Contract Lease in the UK? How to Get Rid of my current car?

i believe ford do their own leasing. but there are co%26#039;s on ebay that do it. most will take your car in part x and settle the finance.

most do credit check%26#039;s

Car Contract Lease in the UK? How to Get Rid of my current car?

It all depends on what is written in your agreement when you took the finance out on your current car. Some will let you give the car back to the finance people if you have paid at least half of what is owed and have had it for 2 years or more however this must be written in your terms and conditions. It is called voluntary termination and is perfectly legal. Check your paperwork to see if you have this option.

As for a new car most car manufacturers do their own version where you have a new car and have 3 options at the end of the lease you can either keep the car and pay off what is outstanding, swap it for another car and carry on paying monthly preimums or give the car back and walk away. There will be conditions that you must meet ie the car might have limited mileage, must be returned in the same condition allowing for wear and tear but these are for any lease car no matter where you get it from.

Car Contract Lease in the UK? How to Get Rid of my current car?

If your current agreement is a hire purchase agreement then you are on easy street. Check your agreement or check with the finance company and look at your termination rights. Most cars are sold this way and you are quite within your rights to voluntarily terminate the agreement, once you=u have paid half. with no adverse to your credit history. As for contract hire, yes all companies will run a credit check, even for contract hire..