Who can buy my lease van?

[jimbobwillis]

I will take some ASAP.
It is totally standard, except for a rear bumper cover strip.
It’s a Kombi, has a couple of minor dents (door bumps, by others) in the sides (one on each side).
It’s black and all standard

 

[VinylArchie]

I will take some ASAP.
It is totally standard, except for a rear bumper cover strip.
It’s a Kombi, has a couple of minor dents (door bumps, by others) in the sides (one on each side).
It’s black and all standard

Ahh black, not what I'm after in afraid. Good luck with selling

 

[jimbobwillis]

Forgot to say it is LWB the van isn’t here at present, but found this pic on my phone. Tbh I would like to keep it and convert into a camper. But the rules of the lease say that I cannot sell to anyone connected to my business. So I’m stuffed!

 

[VinylArchie]

Forgot to say it is LWB the van isn’t here at present, but found this pic on my phone. Tbh I would like to keep it and convert into a camper. But the rules of the lease say that I cannot sell to anyone connected to my business. So I’m stuffed!

View attachment 86527

Yes its a strange old business the end of contract with these lease finance deals. Surely where there is a will there is away ;-) Do you not have a friend who would burning ambition to own a T6 for a week?

 

[jimbobwillis]

I did think about that, but it’s complicated as in transferring money to another account etc to buy it back from a friend.
Then there is the cost of converting to a camper. I have no idea how much something like this would cost. It’s just easier I think to sell it on and get a new one.

 

[RobJH]

I wilm confirm that this is correct. I have a T6 Highline 150bhp L32, that I have on a finance lease, which I am currently about to sell on behalf of the finance company.
It is confusing. The way I understand it is that I have a balloon payment at the end of the lease. If the balloon payment is £15k and I sell the van for £20k, the balloon payment is paid and the excess money comes to me.
This is a good idea, as if you look after the vehicle (which I have), it will be worth more & I will receive the difference in balloon payment and the selling price.
So if someone is looking for a t6 that is standard, let me know.
Based in Surrey.

Did you manage to sell?

 

[T6Paul]

As per the title, my van is nearing the end of it's vwfs lease, under the lease agreement through my Ltd company I can not buy the van personally. However, my father would like to buy my van at the end of it's lease and convert it into a camper, since I've had the van from new and the history is known it seems a great solution. The only stipulation I can see in the lease agreement is this.

With a Finance Lease agreement you are required to sell the vehicle to a non-financially related third party at some point during your agreement and the process of doing this must go through us.

Has anyone done something similar?

Also, who sets the value of the sale? myself or VW?

TIA

 

[boxelder]

I bought mine in this way (though not from a relative). I just cleared the balance on the lease agreement - ~£20K on a 1 yr old Kombi. Your father is surely non-financially related, unless he's still giving you pocket money.

 

[Phil3655]

For advice contact FinanceLease@vwfs.co.uk

 

[JOG]

I only did this once when I bought a company car I was using. The lease/scheme folk set the price. I did ask a car dealer I knew what he thought of the price. (“Bite their hand off” was his view!)

The massive advantage is that you know exactly what you’re getting, what the van has done since new, how it has been looked after etc.

I am wary of selling to family, however! If something went wrong, I’d feel guilty!!!

I hope others can advise on the clause in your lease agreement. Would the lease company give a fiddlers so long as they got their dosh?!!

 

[Keeff]

I have just done this with mine . Use a different address and surname .you will have to give them the purchasers name address and phone number They will then send a invoice or email with bank details for payment . Is your final payment is a lot less than market value if so you could over pay as you will get it back. I guess you have the v5 in your name so it can be give to you father in his name . Have you got someone with a different surname to pay the invoice.
If you are not happy doing this a vW dealer can do it for you but you will need to pay them as they will need to warranty and look it all over before they sell back to you.

 

[JOG]

How did this pan out in the end? Did you buy the van?

 

[Deleted Member]

I leased my Touareg through VWFS, at the end of the 3 years I was offered it for £21k, I didn’t take them up on it as I had just got my T6.

It was back on a main dealers forecourt for £27k about 4 weeks later, so buying direct from VWFS would appear to be a good option.

 

[DarranJ]

As per the title, my van is nearing the end of it's vwfs lease, under the lease agreement through my Ltd company I can not buy the van personally. However, my father would like to buy my van at the end of it's lease and convert it into a camper, since I've had the van from new and the history is known it seems a great solution. The only stipulation I can see in the lease agreement is this.

With a Finance Lease agreement you are required to sell the vehicle to a non-financially related third party at some point during your agreement and the process of doing this must go through us.

Has anyone done something similar?

Also, who sets the value of the sale? myself or VW?

TIA

I have personally bought two cars from my company that I am a Director of and the price is set by the leasing company
Both times the price is very good for you as they wish to get rid of the vehicle. They have made their money through the finance
Are you sure you personally cannot buy the vehicle, I know the Ltd company cannot as the lease will be in the company name?

 

[dubdub]

Hi all, I'm just about to finish my 4yr lease and unbeknown to me I'm told I have to sell the van to a 3rd party not family, this is a complete bombshell and was never explained to me when I bought it So I have a mate who is willing to temporarily buy it from me to clear the VW balloon payment then I should be able to buy it back from him, does anyone know if that is correct. I've done so much work on the van and I'm a career so the van is vital to me so I'm really trying to get through this without losing my much loved van, any advice much appreciated.

 

[Pete C]

That condition is quite common. Yes, a lot of people get a mate to buy it for them.
Is that condition explicit in your contract ?

Pete

 

[dubdub]

Hi Peter, it just says I have to sell to a 3rd party it cant be a family member. What I'm not clear on is if I have send the log book off too to dvla to register the sale? There is nothing on the VW finance site to suggest that, I guess they just need to show the van has been sold and paid off in full to a 3rd party. It all sounds absolutely crazy to me!

 

[Pete C]

I guess it belongs to the finance company so they sort all that. You just give them your mate‘s details ?
I would ask VW what the process is.

Pete

 

[BognorMotors]

Yes very easy process. Being a lease you can’t buy it at the end. Sell to your mate(vat registered) at a pre agreed price, and he can sell it onto you. There may be a % you have to pay if it was finance lease?

 

[BognorMotors]

And you don’t have to send the logbook off. It’s a paperwork exercise basically. We do this for customers all the time.