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leaving a novated lease early

leaving a novated lease early

Old Nov 7th 2011, 6:50 am
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Default leaving a novated lease early

first time poster - long time lurker.

been here nearly 2 years now and received the 'phone call' no one wants to hear - the ill family member, and so we are going back to england.

long story short we got a novated lease when we first arrived and have nigh on 2 years left.

as i understand things to hand it back we need ensure we pay what is owed - this can be made up of us selling the car and making up the gap if there is one.

well there is a gap and our savings dont cover it - we are a few grand short. if we sold it and gave them what we could, albeit a few grand short and left,can the leasing company chase us in the uk for the short fall?

some people have said to just hand the car back and go!! no chance as we dont want to do anything of the sort; we just cant cover the full short fall.

its not ideal and by no means are we proud, but we desperately need/want to get back to the uk asap.

no taking the moral high ground please
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Old Nov 7th 2011, 7:05 am
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Default Re: leaving a novated lease early

Originally Posted by desperately
first time poster - long time lurker.

been here nearly 2 years now and received the 'phone call' no one wants to hear - the ill family member, and so we are going back to england.

long story short we got a novated lease when we first arrived and have nigh on 2 years left.

as i understand things to hand it back we need ensure we pay what is owed - this can be made up of us selling the car and making up the gap if there is one.

well there is a gap and our savings dont cover it - we are a few grand short. if we sold it and gave them what we could, albeit a few grand short and left,can the leasing company chase us in the uk for the short fall?

some people have said to just hand the car back and go!! no chance as we dont want to do anything of the sort; we just cant cover the full short fall.

its not ideal and by no means are we proud, but we desperately need/want to get back to the uk asap.

no taking the moral high ground please
You have to do what you have to do mate.... no judging from me. If you get back and then they catch up, if they do, Then there's a problem... Chances are they wont though.

Good luck and hope you have as smooth a run as possible.
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Old Nov 7th 2011, 7:06 am
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Default Re: leaving a novated lease early

Originally Posted by desperately
first time poster - long time lurker.

been here nearly 2 years now and received the 'phone call' no one wants to hear - the ill family member, and so we are going back to england.

long story short we got a novated lease when we first arrived and have nigh on 2 years left.

as i understand things to hand it back we need ensure we pay what is owed - this can be made up of us selling the car and making up the gap if there is one.

well there is a gap and our savings dont cover it - we are a few grand short. if we sold it and gave them what we could, albeit a few grand short and left,can the leasing company chase us in the uk for the short fall?

some people have said to just hand the car back and go!! no chance as we dont want to do anything of the sort; we just cant cover the full short fall.

its not ideal and by no means are we proud, but we desperately need/want to get back to the uk asap.

no taking the moral high ground please
I would seriously doubt they would try and chase you in the UK. Have you explained the situation to them? I'm sure there would be a way to pay back the shortfall anyway and give you piece of mind back in the UK.
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Old Nov 7th 2011, 7:20 am
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Default Re: leaving a novated lease early

hi - thanks for the replies.

spoke to them and basically told "suck it up we get hard luck stories all the time". which is fair does i suppose, as i bet they do.

im tempted to leave it in their car park, post the keys and leave them a dear john after that attitude from them
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Old Nov 7th 2011, 7:28 am
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Default Re: leaving a novated lease early

The only thing that 'could' be an issue is if you come back and try to get a loan for something. You 'could' find your name blacklisted??????
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Old Nov 7th 2011, 7:36 am
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Default Re: leaving a novated lease early

Originally Posted by desperately
hi - thanks for the replies.

spoke to them and basically told "suck it up we get hard luck stories all the time". which is fair does i suppose, as i bet they do.

im tempted to leave it in their car park, post the keys and leave them a dear john after that attitude from them
Dump it on them if that's their attitude. I'm 99% sure they have no legal jurisdiction over you in the UK.
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Old Nov 7th 2011, 8:10 am
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Default Re: leaving a novated lease early

we wantto give them what we can, but as i have said there will be a shortfall of a few grand. we need the rest of our savings to get back to the uk and get out possessions there etc.

they have loads of our ID (eg copies of our passports)that was needed to take the novated lease out so theyll find us if we just left it for them - i just said that i was angry after talking to their rep

we thought theyd maybe show a bit of compassion, but as i said they said they get this kind of thing all the time etc.

its a quandry alright!
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Old Nov 7th 2011, 8:21 am
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Default Re: leaving a novated lease early

Can you get anyone to take over your lease for you?

Is it through work?

I know we can salary sacrifice a novated lease car, but didnt get into it in case things didnt work out job wise (good job I didnt)
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Old Nov 7th 2011, 8:25 am
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Default Re: leaving a novated lease early

it is through work and have asked around and no one wants to take it on. also even if someone did take it on we are techinically still liable apparently (looked into it) and if they stopped paying we would be screwed!
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Old Nov 7th 2011, 8:42 am
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Default Re: leaving a novated lease early

Originally Posted by desperately
it is through work and have asked around and no one wants to take it on. also even if someone did take it on we are techinically still liable apparently (looked into it) and if they stopped paying we would be screwed!
Anymore screwed than you are right now????

do you work in the public sector? Do you belong to a Union? Is there cousnelling/legal advice available through work?????
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Old Nov 7th 2011, 10:23 am
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Default Re: leaving a novated lease early

Legally you owe them the difference. Whether they chase you to the UK for a couple of grand who knows. If you want to do the right thing, pay them back when you get financially back on track in the UK. Write to them and tell them your intention. They will take that rather than fight you for it in a foreign juristriction
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Old Nov 7th 2011, 7:22 pm
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Default Re: leaving a novated lease early

Speak to the office of consumer affairs they should be able to help you with your legal position.

If you really want to do the right thing then you could arrange to repay the rest from the UK, but tbh, it's highly unlikely that they'll chase you... Remember even if they have a copy of your passport they can't stop you leaving the country, and they can't trace where you go to after you leave the country.
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Old Nov 7th 2011, 9:53 pm
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Default Re: leaving a novated lease early

I know our legal requirements and will give whatever we can.

Just very concerned over the shortfall and them getting us back in the uk
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Old Nov 7th 2011, 10:19 pm
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Default Re: leaving a novated lease early

Originally Posted by desperately
I know our legal requirements and will give whatever we can.

Just very concerned over the shortfall and them getting us back in the uk
They aren't going to follow you back to UK. You could have trouble if you return to Australia in the future (to live), but if you are not planning to do that it is not a concern obviously.
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Old Nov 8th 2011, 12:02 am
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Default Re: leaving a novated lease early

Originally Posted by desperately
I know our legal requirements and will give whatever we can.

Just very concerned over the shortfall and them getting us back in the uk
Sound like you have to get to the uk pronto... So leave it behind and tell them you will make regular payments from the uk as and when you can towards the difference....

It sounds like the Only option you have
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