Does anybody know much about taking over lease repayments or “Lease assumption”?
I have searched the web and there are plenty of leasing companies that offer such services on cars but can’t find one that will deal with Trucks.
I am just over 2 years into a lease and my work has dried up big time. There are just under 2 years left on it and would make a nice truck for someone.
I know that this can be done but wouldn’t have a clue how or where to advertize it.
Any advice appreciated.
Kenny
first of all, you will need to speak to your finance company to see if they will allow it, some do, some don’t
as for finding a “buyer”, just advertise it in the same way that you would normally.
actually finding someone willing to take over the repayments is the hard job, depending on how much the monthly repayments are and what age, make, model truck it is, it may be cheaper for others to buy a newer model than what you are offering due to the residual values falling so sharply recently.
best of luck
Hi Kennybhoy, what truck is it, what sort of work do you do?
shuttlespanker, I have spoken to the lease company and apart from a small Novation fee the transfer is quite straight forward. I just was’nt sure if I should advertize it for sale to try to re-coup what was left on the finance and settle with the finance Co. Or whether I’d need to advertize it in a way that the buyer knew hed be taking on repayments. Ive never seen such an advert and not sure if any the uaual Mags would have an advert like that.
Jimmy two loads.
Its an 07 plate 44t Renault Magnum. Very clean truck with £10k worth of extras I’m currently pulling a chip liner, but the job is paying a bit less every week that passes. Not because there is no work, there is plenty. It`s just the usual story, too many subbies turning up to the same job at the same time causes the queues where no-one gets anything done… Sad really, the busier we get… the less we get done eh?
Pm sent to you Kennybhoy.