Q. What can I do if my circumstances change and my mileage requirements increase due to me moving house or accepting a new job?
A. You need to contact the finance company direct and ask for a new monthly price for an increased mileage - unfortunately we cannot contact them on your behalf due to the Data Protection Act. Alternatively you will have an excess pence per mile stipulated on your quote, order form and finance documents: this is approximately the same as the additional cost of increasing your contract mileage with the finance company but it is just payable at the end of the lease rather than during it.
Q. Why does the monthly cost of the lease go up when I increase the mileage on the quote?
A. In the same way as when you buy a car and then sell it in the future: the lower the mileage the better the resale price. This is the same for leasing: when the car is returned at the end of the lease, the residual value will have dropped if the car has a higher mileage, therefore this is offset at the beginning of the lease.
Q. What happens if I cannot afford the payments in the future?
A. You should contact the finance company immediately: don't leave it and miss payments as this will be detrimental to your credit. Most finance companies have departments that will help you chose the correct option to end your lease or to arrange a repayment plan.
Q. If I no longer wish to lease the car, how can I hand it back?
A. Most finance companies will allow you to return the car but you may need to pay a cancellation fee which will be a proportion of the remaining rentals - contact your finance company for details.
Q. I want to get a new car but I still have time left on my agreement, what can I do?
A. There will be a cancellation fee which can be supplied from your existing funder: we may be able to cover that cost or use your existing car to do so.
We hope this guide has been informative and we highly recommend leasing as a cost effective way to drive a better quality car with a lower monthly cost, this also provides the hassle free ownership of not having to sell at the end of the lease.
If you have any further questions please don't hesitate to contact one of our experienced team - we are here to help.