Replacing your lease vehicle should not be a difficult process. Between 3-6 months before your contract end date, you should begin to a) review your existing vehicle for damage; and b) start considering replacement vehicles.
As some cars have lead times of up to 4-6 months, do ensure you leave enough time to organise a replacement vehicle.
Not all finance companies allow you to keep a vehicle beyond the contract end date i.e. enter into an “informal extension”. In some cases you will be expected to arrange the rerun of the vehicle either on or before the actual end date.
In other cases, finance companies (with our permission) will allow you to keep the vehicle for a short period of time after the contract has legally ended. So long as you do allow yourself at least 2 – 3 months, there should be little issues in arranging a new vehicle.
Some of the amazing lease deals we offer will be based on stock vehicles so we are able to organise replacements very quickly. In an ideal world, we do want our customers to have their vehicle organised for collection and delivery at least 3-4 weeks before the actual end date.
The end result is that a representative from an auction house will inspect and collect your existing vehicle and then another third party will organise delivery of your new vehicle on the same day.
In addition to organising a new vehicle, ensuring your lease car is in a fit and proper condition for return is an equally important consideration. Contrary to popular belief, the car need not be returned in a “perfect” condition, as every vehicle which is procured on a contract hire, or personal contract purchase, is expected to have incurred some wear and tear.
When you are reviewing your vehicle, do consider the BVRLA guidance known as the “fair wear and tear” guide which details the expected condition of vehicles being returned.
If you have scuffs on the alloys, scratches or dents which exceed the size of a 20 pence piece, do consider organising these being remediated before collection otherwise you may be charged.
Also ensure anything which was in the car when it was delivered to if also present i.e. SD cards, service and warranty pack, spare wheel and floor mats.