What Happens at the end of my Lease?
You’ve successfully arranged your lease, accepted delivery of your car and have enjoyed driving it around for a few hassle free years. But what happens now? When does your contract end? How do you hand your car, van or minibus back? Will you owe thousands for tiny scratches on the wheel arch?
Don’t worry we have all the answers for you!
1. Email Reminder
If you currently lease your vehicle with us here at Rivervale Car Leasing we will send you an email reminder 6 months, 3 months and 1 month before your contact is due to expire.
2. Call Us to Discuss Your Options
Call us when you receive this email and talk to your Account Manager (don't worry if you can't remember their name we can find out for you!)
Once you are speaking to your Account Manager they will discuss your options with you. You may have your next car in mind, so your next vehicle can be arranged. If you have a business lease you may also have the possibility of extending your current lease contract, you Account Manager will make sure you are aware of all the options available to you.
3. Your vehicle must be Returned in Fair Condition
Your vehicle must be returned in a fair condition, otherwise you may be charged. Your Account Manager will advise you to compare the condition of your vehicle to the BVRLA fair wear and tear guidelines. These guidelines provide the standard that all the finance companies we use here at Rivervale adhere to.
4. Repair Any Damage
If you feel there is damage to your vehicle outside of the fair wear and tear guidelines your Account Manager is likely to advise you to repair the damage before your vehicle is returned. This allows you more control over the cost of repair, as you can choose where any necessary work is completed instead of the finance company.
5. Check your Mileage
You will also be prompted to check your mileage. When you first arranged your lease agreement a mileage allowance was set. If you have travelled over this limit you will be charged for the extra miles. The price of this charge ranges between vehicles, the cost will be outlined in your contract and your Account Manager will also be able to advise you of these costs.
6. Your Vehicle will be Collected
Once you are happy your car is ready to be returned your Account Manager will arrange collection for you. This can be from any address, so if you would prefer to have your vehicle collected from your work address this is no problem. Account Managers will always try and arrange collection for the most convenient time for you, to help them do this let them know your preferred date as soon as possible!
7. First Vehicle Check
On collection of your vehicle the driver assigned by the finance company will perform the 1st check your vehicle will receive. This will be a thorough check in accordance with the BVRLA fair wear and tear guidelines. To make sure your appraisal is as accurate as possible it is advisable to make sure your car is cleaned prior to collection. You will be present for this inspection and will be given the opportunity to read the report before you sign to say you agree with its findings.
In the rare event that you feel the report is unfair, it would be wise to take pictures of any damage to your vehicle and let your Account Manager know. Your Account Manager can request photographic evidence from the finance company and will help resolve any disputes.
8. Second Vehicle Inspection
Your vehicle will then be taken away and a 2nd inspection will take place. The inspectors here are more highly trained and will be the people valuing the cost to repair any damage on the vehicle. If damage outside of the fair wear and tear guidelines is found you will be sent an invoice for repair costs.
Now your vehicle return is complete and you can look forward to getting behind the wheel of your next car!
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21 January 2016
Written by Natalie Faughy