Employee unable to pay car lease as premature termination


I had taken a 3 year car lease on behalf of my companys name from ALD car leasing company who has ties with my company. I get tax benefits from car lease (irrelevant to my question). After 1 n half year of car lease during, i got Laid off with severance package because of automation & am serving 3 month notice period till Feb 16 2018. I havent been able to secure another job & the current IT market is not in my favour. I do not intend to work in IT anymore as im looking to establish myself in business. In order to terminate the car lease, i have to pay the remaining installments in bulk to car lease & surrender the car. i cannot afford to pay in bulk & hence need 1 years time to arrange for the money. Is there a work around this predicament wherein i can ?


Answers (1)

Legally you may not have a recourse in the given circumstances.


However it would be good to have a word with the car dealer and the company. Requesting them for a monthly payment may help. Car dealer may agree on payment on an EMI basis. Wish you all the best.


Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Labour & Service Lawyers

Advocate Sunil Kumar Bakshi
Sector-16, Faridabad
32 years Experience
Advocate Wg Cdr Ajit Kakkar (Retd)
Dwarka, Delhi
19 years Experience
Advocate Sunil Dalal
New Friends Colony, Delhi
22 years Experience
Advocate Shikhar Khare
Jangpura Extension, Delhi
6 years Experience

Related Articles


"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Labour & Service Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.

Legal Services

Document Review - Non Disclosure Agreement (NDA)

4.6 | 64 ratings
Review + 30 Min phone call - NDA review by a local experienced advocate
Document Review - Employment Agreement/Appointment Letter

4.8 | 191 ratings
Review + 30 Min phone call - Employement Agreement review by a local experienced advocate
Create an Employment Termination Letter

4.2 | 45 ratings
30 Min Intro call + Start to finish help - Termination Letter drafted by a local experienced advocate
Email to HR

4.4 | 46 ratings
15 Min Intro call + Start to finish help - Personalised email drafted by a local experienced advocate
Create a Non Disclosure Agreement (NDA)

4.6 | 73 ratings
30 Min Intro call + Start to finish help - NDA drafted by a local experienced advocate
Legal Notice for Recovery of Dues from Employer

4.8 | 421 ratings
30 Min Intro call + Start to finish help
Create an Employement Agreement

4.6 | 203 ratings
30 Min Intro call + Start to finish help - Employement agreement drafted by a local experienced advocate
15 Minutes Labour / Service Advice Session by Phone

4.8 | 476 ratings
Legal advice and answers from a local experienced advocate about your labour / service issue.
Similar questions

Working under contractor 10 years .principal employer is a PSU (first schedule ) company.Contractor suddenly terminated showing cause of 60 years reti…

Read More

I was appointed as School information manager on contract basis in 2013 by HSSPP (RAMSA), Haryana but after 3 years of service HSSPP immediately relie…

Read More

Dear sir, I am a manager in a MNC. One of my subordinate (contractual employee) drove fork lift without a valid license (Issued by company). Consideri…

Read More

I was workinv with a organisation situated in Laxmi Nagar -Delhi but later on it has sifted in Shahibabad - Ghaziabad . After shifting they have bave …

Read More

Talk to a lawyer for your legal issue