Can you part exchange a car when leasing? Can you use an old car as a
deposit?
Whether you're trading up and want to get rid of your existing car, or simply want to find someone that you can trust to get the maximum value for your car, CarLease UK will help you get a fair price for your old vehicle and no one will kick your tyres when using it as a part exchange.
We have partners in the motor trade and also deal with the biggest used car buyers and so using your old car in part exchange is a-okay. You can then use the funds as your initial payment and anything left over will be paid into your bank account.
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There are several types of lease, with a brief explanation of the types of lease agreements
Can you sell a car lease? Should I buy my leased car early?
In order to use your old car as a deposit, in all cases you will either have to have completed the lease by making the final payment or bought the car at the end of your contract in order to sell a leased car.
In very few cases this is what is intended to happen and normally it simply cannot happen because of the vat and tax status of the vehicle that is an asset of the funder. As a result you will rarely benefit from buying a leased car early. A lease deal is structured over a term and rarely is it worth more than its outstanding balance prior to the lease termination.
For more info on swapping, part exchanging or trading in your old car for a new lease car simply call or contact a member of our helpful lease team or read more leasing help and advice.
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Carlease (UK) Ltd t/a CarLease UK, e-car lease, VanLease UK and School Minibus Leasing UK is a credit broker and not a lender and will introduce you to a limited number of finance providers which have been carefully selected by us - please note that we do not provide independent financial advice. The finance providers that we use may make payment to us if you elect to enter into an agreement with them. The amount we receive will affect what you pay for your vehicle. The commission received may or may not be capped in accordance with that finance company’s policy. We may also receive an extra amount based on how much business we provide to that finance company, the types of products you take from the finance company and the quality of our service. For Regulated Customers you can ask us about the payments we receive from the finance company so long as this is in good time before the agreement is made. Failure to maintain rentals may result in the
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