What to expect at the end of your vehicle lease
All good things come to an end, your leasing contract is no different. Here’s what to expect as you’re nearing the end of your vehicle lease. If you so choose, the end could be a new beginning, the choice is yours!
The End Of Contract Procedure
When your lease contract has around 6 months left, we’ll endeavour to contact you to see how you’d like to proceed once it ends. Where possible, we’ll ask if you’d like to arrange for another new car.
Choose to Renew?
You’ll have the option to return your current car at the end of the contract and end the agreement, buy that car, or return the car and take another new one once you’ve done so on a new agreement.
No Pressure!
You don’t have to decide straight away, we’ll contact you again within three months prior to the agreement ending and if you’re still undecided, we’ll keep in touch up until the end of the agreement or until you’ve made a decision either way. Whichever comes first.
More Notice = More Choice
If you choose to take a new car after your existing contract ends, you can begin the process 6 months prior to that contract coming to an end. Naturally you can make that choice any time after, up to the end of the existing contract, but the longer the notice you can give the better. With some vehicles being special orders and with the general issues of availability since the start of the pandemic, more notice given will allow us the best chance of obtaining the vehicle you specify in time for the end of your contract.
Short notice or long lead time – no problem!
If you choose to start a new contract, but there’s a gap between the end of your existing contract and the arrival of your chosen vehicle, you may, if you so choose, continue to drive the vehicle you’re in until the new one is ready. In which case, we’ll continue to make monthly deductions and your mileage allowance will be extended on a pro-rata basis based on the expiring contract. Maintenance agreements will be unaffected. Should the vehicle require an MOT test (and require anything in order to pass this test), this will be the responsibility of the driver.
Bringing Back Your Vehicle
Return of your vehicle would normally be by you and to our Wigan branch. However, by arrangement, we can either collect it from you, or it can be returned to one of our other branches. In all cases, the vehicle must, at minimum, have a valid road fund licence and be in fully road legal condition.
Any vehicle accessories, parts, or removable features, such as parcel-shelf, mats, service book, SD-Cards, spare keys etc which were present at delivery to you, must be returned with the vehicle at the end of the contract. You will be liable for the replacement cost of any parts, or accessories which are not returned.
Any personal property left in. the vehicle at the point of return will be notified to you on discovery and we will securely store them for collection for a period of 7 days. These can be collected from us within that time period, or by mutual agreement, returned to you at your cost. After 7 days has elapsed, we reserve the right to dispose of such items as we see fit.
At the point of return/collection, the vehicle will be inspected by one of our team. The vehicle mileage, any damage, defect or missing items will be noted and you will be asked to sign the preliminary inspection report. A full inspection will follow as soon as is practical (see below).
Should the vehicle not be returned, or should it not be available for collection as agreed, we will commence recovery of our vehicle and pass on all the costs associated with the recovery to you.
Policy On Fair Wear And Tear
We appreciate that a vehicle which has been used for a period will have been subject to a certain amount of wear and tear. As members of the British Vehicle Retailing & Leasing Association (BVRLA), we defer to the BVRLA Policy on Fair Wear And Tear and adhere to the principles laid out within it when deciding on what is reasonable.
Should the vehicle have suffered damage or wear and tear which goes beyond the scope of what this fair wear and tear policy allows for, you will be responsible for the cost of restoring the vehicle to a condition in keeping with what would be allowed under the policy.
Excess Mileage
Your contract will show the number of miles permitted for the duration of the agreement. Should you exceed those miles, the difference between what you have agreed and the actual number of miles travelled will be multiplied by the excess miles charge also detailed in the contract. This must be paid along with any other additional charges in respect of excess damage.
Ending Your Contract Early
Normally, lease agreements are fixed in their duration, however, should you wish to terminate the contract early, then you will need to contact Lex Autolease directly in the first instance. As detailed in the agreement, there will, in these circumstances be an early termination charge and various other costs associated the ending the agreement early, in addition to those detailed above. All of these must be met by the lessee. A quotation will be provided at your request and from there you will be able to decide if you accept this quote and the early termination of the agreement can then commence.
If the early termination is as a result of a total loss declared by the insurers, or the death of the lessee, no early termination charges will be payable.
You may end your agreement early completely without charge if you cancel the agreement within 7 working days of taking delivery of the vehicle. Other charges may apply though as detailed above.
