Wanting to upgrade lease car but not able to

[car1sberg]

Hello

I'm looking for some advice please from anyone who may know.

We lease a Kia car using ALD finance, we've had it for 1.5 years now of a 3 year contract. Our family has recently grown and we need a bigger vehicle. We contacted ALD to ask if we could upgrade our car mid contract and begin a new 3 year contract. They said we would need to pay a termination fee of £2,800 in order to then start again with a new vehicle, which we don't have lying around.

Does anybody know of any possible ways around this? Any advice at all would be much appreciated.

Thank you!

Thats how it works isnt it?

I did think that if we took on a new contract any termination fee would be waived, a bit like phone companies do when you upgrade early...

You signed for three years though...

That’s one of the problems with a PCH, pretty much impossible to get out of, whereas the PCP deals do let you switch usually.

We did exactly the same. Had to upgrade from the Sportage to the Sorento. There was no way around it....we had to pay £2100 because we had a 3 year contact. Fair enough, we’d signed it!

@goodnightjude that's exactly our situation. How do you find the sorrento? Are the monthly payments much more than the sportage?

I guess I figured that ALD tying us in for at least another year would have been more beneficial to them than us paying the fee then being free to go elsewhere but obviously not.

I have heard of other finance companies paying your exit fee to then go with them, but unsure if that's worth looking into really as I expect their monthly repayments will be considerably higher.

Sorry meant to say @GoodnightJude1

We went back to the dealership we got the sportage from. The lease company already told us there was no way out of it and tbh we didn’t have time to check it out so just paid the exit fee. We went for the top of the range sorento so it worked out about £210 a month more.

And we love the Sorento btw. Plenty of room for all of us and nice gadgets etc. We like the panoramic roof and they threw in a roof box for us which comes in handy 👍🏻