He vehicle leasing has been consolidated in recent years in Spain as an alternative for those who want own a car without assuming the responsibilities of ownership. According to data from the Spanish Vehicle Rental Association (AER)Between January and August 2024, 226,641 were enrolled vehicles under rental contractswhich represents an increase of 12.06% compared to the same period in 2023. Currently, 28.03% of vehicle registrations in our country are in this modality.
This model allows drivers to pay a fixed monthly fee for the use of a car for a certain period, generally three to four yearswithout worrying about additional costs. Fees include insurance, repairs and inspectionswhich provides great peace of mind to users. Furthermore, renting has also been positively consolidated within the company, thus facilitating access to vehicle fleets without the need to own them, which has been highlighted on several occasions by the Spanish Confederation of Business Organizations (CEOE).
However, despite the advantages it offers, Some people may face financial difficulties that prevent them from continuing to pay their fees. of the renting car. In these cases, the question arises whether it is possible to return the car before the end of the contract and what consequences this decision may entail.
This is what happens if I can’t pay my renting fee
Renting contracts are designed so that users forget about worries, but as in any financial agreement, failure to comply with the agreed conditions can have consequences. If you cannot continue paying the installments on your rental car, the most common thing is to look for return the vehicle before the contract ends.
In general, the majority of rental contracts in Spain Yeah allow early return of the car, but this It is usually associated with certain economic penalties. These penalties vary depending on the number of outstanding installments. The more time left to complete the contract, the greater the penalty you will have to pay.
Penalties for returning a rented car early usually range from 30% and 50% of the fees that remain to be paid until the end of the contract. This penalty is calculated based on the number of outstanding installments and can place a considerable burden on the user.
For example, if you have 12 months left on your contract and decide to return the car, you could have to pay between 30% and 50% of those 12 remaining installments, depending on the conditions stipulated in your contract.
Can these penalties be avoided?
It is possible to find some leasing companies with more flexible options. With them, users will be able to terminate their contract early, for example, if you have not reached the agreed maximum mileage or offering much lower penalties.
There are others, for their part, that allow for the client to transfer the contract to another driver. In this case, the company can carry out a feasibility study on the new client and manage the change of owner without the old driver having to pay penalties. This is the option most recommended by experts.
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