Find out what to expect when it is time to return your vehicle.
Ever wondered what happens when you return a lease car? For starters, The British Vehicle Rental and Leasing Association (BVRLA) recommend that you inspect your lease car 10-12 weeks before you hand the keys back to the provider . But how does collection of your vehicle work? And do you have to be home when it all takes place?
As long as you haven’t exceeded the agreed mileage cap in your contract and the car isn’t damaged, you can simply return your leased vehicle. Afterwards, you can take out a new deal on a different model, or look elsewhere and walk away.
Regardless of whether you have leased a car for personal use or through your business, the procedure at the end is the same.
Your chosen provider will contact you around four months before the exact end date of your contract to discuss the options you have going forward.
It’s up to you to decide whether you want to replace the car with a newer model on a separate agreement. Or, if you’ve paid off the total cost of your deal (including any charges for damage, missed and late payments, or exceeding the agreed mileage cap) you can walk away.
Once you’ve made up your mind, it’s then time to arrange the car’s collection.
You can arrange collection of your car around 30 days before your deal is due to finish. That’s if the finance provider hasn’t already contacted you about it – which they may do. However, don’t rely on them to do so on your behalf.
Being proactive when arranging your vehicle’s pickup is the best way to avoid ‘failed collection’ charges. This applies when no contact has taken place between yourself and the provider to confirm a suitable date and time for the return of your leased car.
Ensure you give the provider 7-10 working days’ notice when booking a handover slot. This way you will avoid incurring extra fees for running over your agreement’s end date.