terminating an Agility finance agreement

[ewans]

All, i have another 17months to run on an Agility finance deal for a B class. I'm thinking about changing this for a Skoda Octavia estate vrs, there are some cracking deals on the go at the moment and the B is a great car but too dull for me!

Question is, how would this work? can i pay the remainder of the B class lease of early on the assumption that the Skoda dealer give me enough for it on trade in?

never had a car on finance before so any advice on the logistics of changing early would be apprechiated.

e

 

[st13phil]

Basically you need to contact MB Finance and ask them for a settlement figure and then take it from there.

 

[ewans]

thanks, can i sell the car privetly and use the proceeds to pay the Agility finance off keeping difference? Given that i'm not the owner of the car as such (Agility is far as i understand it) not sure if i can do this.

 

[hawk20]

thanks, can i sell the car privetly and use the proceeds to pay the Agility finance off keeping difference? Given that i'm not the owner of the car as such (Agility is far as i understand it) not sure if i can do this.

Talk to MB finance. You can sell privately or to a dealer but whichever you do you need a settlement figure and must pay this off -or get the dealer to do it if part exing. Part way through a finance deal it is normal to find that the settlement figure is higher than part ex figure i.e you have some negative equity. By the end of the finance term the GFV will always pay off the outstanding finance. Patience gets rewarded.

 

[fuzzer]

Its just like any other debt , pay it off and they don't care

The settlement figure will be your payments made deducted from the total amount payable and a "discount" for early settlement. The discount is just part of the interest that youve not paid yet plus you will need to pay the option to purchace fee of £25 or £50 or similar.