Due to sky-high inflation, more often working from home and restrictions when applying for a mortgage, more and more private lease drivers want to get rid of their contracts.
Due to sky-high inflation, more often working from home and restrictions when applying for a mortgage, more and more private lease drivers want to get rid of their contracts. If other lease drivers who now have to wait a long time for a new car take over that contract, this will save more than 5000 euros in cancellation costs, according to research by marketplace PrivateLeaseOvernemen.nl.
Private lease has become increasingly popular in the Netherlands in recent years. Last year, 231.000 private individuals already had such a contract. The attraction lies in driving a brand new car of your choice for a fixed price, without having to worry about maintenance. But the lease costs are suddenly weighing heavily on the available budget for many lease drivers due to the energy crisis, fuel prices and hyperinflation. As a result, they now want to get out of the contract.
People are also increasingly working from home after corona, so that they no longer need the car. An additional problem is that the monthly amounts that people pay since 1 April are counted for 100 percent when determining the amount of a mortgage. This means that private lease drivers can borrow less. Those who want to get rid of their contract pay a cancellation fee that is 50 percent of all remaining monthly installments. This can amount to many thousands of euros.
On the other hand, many new private lease drivers wait longer than usual for a new car. Due to the shortage of chips and problems at suppliers, the delivery times of dealers have risen sharply. That is why they more often look for an occasion.
Marketplace PrivateLeaseOvernemen.nl brings both parties together. The website has been looking for acquisition candidates for a lease contract since 2020 and has seen an increase in the number of visitors. “We see that contracts for popular models are currently being taken over quickly, sometimes within two days,” says founder Tjeerd Korenstra. “Young used cars are becoming increasingly popular because buyers have to wait six months to a year for a new car. These cars are immediately available.” Moreover, takeover candidates who are looking for an electric car can still make use of the Electric Passenger Cars Subsidy Scheme (SEPP).
The takeover of existing contracts offers advantages to both parties. It mainly saves cancellation costs and waiting time. A survey among customers who transferred their lease contract shows that they have saved an average of 5233 euros per person in cancellation costs. The takeover candidates are also cheaper, because the lower monthly rates still date from the time before the current superinflation. It is especially important for them that they do not have to wait months for the car to be delivered. In addition, they help others with this.
The takeover was quickly arranged. Private lease drivers place their cars on the site. If someone responds and they come to an agreement, they go together to the leasing company to have the contract taken over. Korenstra: “I got the idea during the first corona lockdown in 2020, when I wondered how to transfer your private lease contract to someone else. That was not possible at the time, so I started it myself.”
