EBRWRX

Take the option for redundancy cover - no matter how high the premium.



Have leased for the last 4-1/2 years with the "safest job in the world" so "no need for this cover thanks".

Fookin' made redundant on 10th July and can't get another job for love nor money. Well that's not quite true if I'm prepared to take around a 50% cut. Six more weeks I've given myself otherwise the PPP'd STi gets handed back and no doubt I get a **** credit record. Never been in the position so I don't know how this works. Any advice here ? Could I ask the finance company for a payment holiday ?

Learn the lesson - pay that extra premium !

Terminator X

iTrader: (7)

Don't the finance company "own" it, so just give it back to them?

TX.

speedking

On average such insurance is never worth while. If you pay the five year warranty on all appliances, take all the options on your house and car insurance, and cover the pet then you wouldn't be able to afford to lease a car

Phil

Sorry to hear that mate!

stilover

That's what I thought. A lad I know leased a car (BMW) and just got sick of it. He gave it back with no more payments.

How much have you been leasing the Scoob for every month? Would, after 4.5 years, you not have paid and bought your own Scoob by now?

scooby_matt

Isn't a voluntary termination an option?

New_scooby_04

iTrader: (4)

Condolences mate. Echo the above, but bare in mind you're usually quite well protected as std under most credit agreements as long as you behave responsibly and keep the company involved informed, it should be fine. I'd have a word with Citizen's advice so you know your rights.

Payment protextion is never satisfying as its a preventative measure and such measures never are, especially when your repayments are being loaded 10-20% for something you hope you'll never have to use. However, it is a big load of your mind when things like this happen and -regrettably- they do happen for time to time.

Ns04

esp ltd

iTrader: (1)

Do inform the finance company as most will help you out in some shape or form. If it's a lease purchase or finance agreement get yourself a settlement figure and simply put the car up for sale. As long as you inform your prospective punter that they'll need to clear the debt (with you present!!) then you'll protect your credit score, if you've paid over half the cars value already then you can possibly just hand the car back in but check with your company first as the last thing you'll need is no job and a CCJ .
I run an import biz so can put you in touch with a superb finance guy if you want some free and impartial advice, if you do PM me a number and i'll get him to help
Best of luck with new (and well paid) employment!!
Dave.

Andy-C

I feel for you mate.

I'm being made redundant in 6 weeks after working with for the number 1 supermarket for 4 years, and am scared I'll have to sell my car (MY98 wagon) after spending 10 years dreaming of owning one, and finally getting it in February.

Let the leasing company know what is happening, I'm sure they would rather let you continue the payments over an extended period than having to auction your car off at a potential loss.

Keep your chin up

Andy