What Happens at The End of Your Lease?
One of the major benefits of having a lease is the hassle-free process throughout. This is most apparent when it comes to the end of your lease. When you own your car, you usually have to go through the painful rigmarole at the end to advertise, find a buyer and sell your car.
With a lease, there is none of that. Our team will be in contact with you throughout the duration of your lease before contacting you a few months before your it is due to expire. This way, we can start to look at ordering your new car and arranging a collection of your current car.
With a few months left to go, we will call you to find out how you have gotten on during your contract and to gauge the current condition of your vehicle – Most finance companies expect fair wear and tear to be present on a used car.
Once we understand the condition, we will be on hand to advise what to do next. We understand that some of our customers’ needs change such as having a baby or changing jobs. We will find out your requirements and advise accordingly as some cars can be prone to factory order lead times, the sooner we order your car, the more time we have to sort everything out.
Inspecting and Collecting
Once this is all sorted, either our team or the finance company will be on hand to arrange an inspection date and a collection date. This is where an independent company will come out to view your current lease, inspect any marks/damage and note down accordingly within your finance companies’ fair wear and tear policy.
On the day of inspection, the adjudicator will let you know some rough prices to have anything repaired or put right by the finance company.
Once this has been done, there are usually have two options:
- Send the car back to the finance company and let them bill you for the damage as noted by the independent.
- Re-arrange a collection date, giving you some time to sort any present repair out privately. (Usually a few days).
A general rule of thumb is most finance companies will allow a small stone chipping/slight scuff mark here and there, as a 2 -4 years old vehicle isn’t expected to be pristine.
We will do our best to arrange an inspection date and collection date as close as possible to the delivery of your new vehicle making the whole process simple, quick and hassle free for you!
What to Do Next
If you have a current lease with us and want to discuss anything or if you are looking at a brand new lease, call our team on 0161 791 0101 or email us firstname.lastname@example.org. Alternatively, visit www.smartleasingsolutions.com for more information.