[TheWall]

Originally Posted by Jaggu

get a newer car, you will get far better emotions after that for getting a new car

The problem is within the budget I am looking for, I feel there is no better option than the car I currently own.
Within 15Lakhs OTR, I don’t find any cars which are better than 5th gen Honda City.
Sure Slavia/Virtus are more fun to drive but their long term reliability is questionable.
City spoiled us with its space so sub 4M are a no for us.
2 most popular C2 segment SUVs scored really poor on safety.
S-Cross is outdated. Kicks is pretty unpopular.
So I’m out of options!

[manub22]

There is one more option that one of my friends went with.

He had a dear colleague who agreed to transfer the car in his name for the remaining tenure, he just need to pass on the bills and receipts for claiming tax benefits on monthly basis. And after the car lease ended he took back on his name.

Otherwise, I would suggest you to sell and get the lease transferred to some other employee in your old company, and get a new car lease or take over an existing lease of a similar condition car in your new company.

[saurabh041086]

Originally Posted by TheWall

Hi All,

Need advice on a situation I am currently in.

Sorry, my post may not be able to help you with your query. But wanted to learn from you. I am planning to enter into a lease contract. Can you share how did they arrive at this value of 10 lakhs for the car? Do they have a predetermined matrix(month/year wise) of car value under the FMRV contract?

[steadfast]

My current lease vendor says that if I change firms before lease period, I have the option to transfer my car even to a new vendor at a new firm. Is this possible ?

[condor]

Originally Posted by steadfast

My current lease vendor says that if I change firms before lease period, I have the option to transfer my car even to a new vendor at a new firm. Is this possible ?

So are you planning to change firms soon ? If yes, check with the other company who is their leasing company, and in turn check with that company.

Even otherwise, most large companies have the same set of lease companies. And the larger ones will have 2-3 options. So a very good chance that your current lease provider is also supporting the organization you would move to.

Here, you can check with your lease provider how do they handle things for a person moving in into the organization that the leasing company supports. What are the lease values used, the term and the interest rate.

Also, how do they handle the lease of an employee moving out. This point to be checked with both the organization and the leasing company.

[steadfast]

Originally Posted by condor

So are you planning to change firms soon ? If yes, check with the other company who is their leasing company, and in turn check with that company.

Even otherwise, most large companies have the same set of lease companies. And the larger ones will have 2-3 options. So a very good chance that your current lease provider is also supporting the organization you would move to.

Here, you can check with your lease provider how do they handle things for a person moving in into the organization that the leasing company supports. What are the lease values used, the term and the interest rate.

Also, how do they handle the lease of an employee moving out. This point to be checked with both the organization and the leasing company.

In my case current lease vendor is Poonawala fincorp ( called Magma corp earlier). Job Switch plans end of next year. So was curious if someone has experience of Magma corp leases being transferred to another vendor in new firm.

In current firm, lease exits are only by foreclosure value and nothing else. Though HR says if lease can be transferred and leasing firm pays my firm the amount they are fine with sucha. Foreclosure as well.