Is Your Lease Ending? Explore Wagonex's Guide on What you can Do Next

YOUR LEASE IS COMING TO AN END. NOW WHAT?

It’s happened to all of us. You get a car on lease but before you know it….time’s up. 

Which leaves you with three options. 

1. Take out a new lease.
   
   It can be with the same firm or a different one. You can shop around in the same manner as you did previously. Some firms will allow you to take a new lease on the car you currently have. There may be an opportunity to haggle the renewed deal because any firm will try their hardest to keep a customer.
   
   
2. Hand the car back and wave goodbye.
   
   You can terminate a lease deal early, but you will face penalties.  
   
   
3. Depending on the type of lease deal you’re using you may be able to buy the car by paying a pre-agreed purchase price. 

 

Don’t forget that you have to organise for the car to be collected and you will get a condition report. Sometimes a representative will visit you and provide a report. The leasing company will expect general wear and tear on a car that is 3-5 years old. It won’t be pristine. However, if there is damage, you will face charges. It’s advisable to get these fixed before handing back the car…it’s invariably cheaper. This applies to the interior too. If you’re not sure what does and doesn’t qualify as wear and tear, you can get a guide from the BVRLA (British Vehicle Rental and Leasing Association.) If you’ve exceeded your agreed mileage total, you will also have to pay a charge. 

It’s a good idea to give the car a thorough clean inside and out, and then take a load of photos. It works as a handy back-up just in case the car acquires some dents or scratches after it left your care. Don’t forget to photograph the tyres, engine bay, load area and alloy wheels too. 

Want an Alternative to Leasing... Try Subscription!

Wagonex is car subscription which is an alternative to car ownership and leasing. You can get subscription deals from 1-24 months. This allows you to change or return cars at the end of your selected subscription period.

Perhaps you’d like a 4x4 for the wintery weather and an SUV for summer holidays. There is a car to fit every need. 

Every car comes with roadside assistance, road tax, servicing and MOTs. We can even provde an insurance quote from our insurance partner, Veygo by Admiral. 

In other words, if you don’t want to get locked into a deal which could see you in the same car for up to 5 years, take a look at what we have to offer here.

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