A departure abroad can happen for many reasons. You want to make a new start, you have been transferred… Whether you are leaving alone, as a couple or as a family, one question arises : What to do with the car lease you took out before you decided to leave ?
Is car leasing an obstacle to your departure from Switzerland ?
The terms and price of a car lease are calculated according to several criteria :
- Price of the vehicle
- Duration of the lease
- Mileage subscribed for the duration of the lease
- Residual value
If you had not planned to go abroad before signing the leasing contract, the cost of the remaining monthly payments can become an inconvenience and delay your departure. Here we will look at the options available to you to free yourself from this constraint.
Returning the vehicle to the finance company
Leaving the country is not considered to be a termination clause in the leasing contract, just like divorce, retirement or a change in economic situation. There are only three reasons for early termination of a car leasing contract in Switzerland :
- The lessee wishes to purchase the vehicle before the end of the contract
- In the event of a total loss of the vehicle
- The contract is put on hold after repeated payment incidents. In the latter case, the financial institution, which owns the vehicle, will terminate the leasing contract, but the lessee will have to pay a number of substantial financial penalties.
If you wish to return your vehicle to the finance company outside the above cases, you will have to pay heavy early termination penalties. Your rent will be increased according to the actual lease period and, in most cases, you will have to pay mileage allowances. These early termination fees can amount to several thousand francs.
Selling the used car leasing
The money from the sale of your used car will be used to pay the balance of the lease in advance to the finance company. However, you will be subject to the ups and downs of the Swiss used car market and may have to make a financial contribution to the purchase of the leasing contract.
Transferring your leasing contract
This is the most economical solution. It involves transferring your current car leasing contract to a new lessee. The transfer will, of course, be subject to acceptance by the financing company. Once the leasing swap has been completed, you will be released from all obligations relating to the leasing contract, and you can prepare to leave Switzerland with peace of mind.
