Renewing your vehicle lease

Renewing your vehicle lease

Posted by

Susan Graham

November 2022

If your lease is coming to end, you’re probably wondering what the next steps are to returning your current vehicle and swapping it for a shiny new one. The good news is we’ve made the process of renewing super simple with this short and helpful guide.

For ease, we’ve broken this into two parts:

1. Returning your current vehicle
2. Choosing a brand new vehicle

 

1. Returning your current vehicle

Step 1: Arranging collection
Whilst it’s your responsibility to arrange collection of your current vehicle, we’re here to assist you.

If the vehicle is not collected on or before the end of the contract, you will continue to be charged the appropriate rental. Your contract may enable you to formally extend your vehicle lease. If you decide to do so, you must complete formal contract extension documentation prior to the contact end date.

Step 2: Preparing your vehicle for collection
When the time comes to return the vehicle, please ensure you allow at least five working days when arranging your preferred collection date.

It’s then really important that you take time to prepare the leased vehicle for a collection day inspection. The British Vehicle Rental and Leasing Association (BVRLA) advise that you thoroughly begin to check the condition of your vehicle in line with Fair Wear and Tear Guidelines at least 10-12 weeks before it is due to be returned. This lets you identify any damage that does not fall under fair wear and tear and will likely require repair.

Step 3: Collection day
When collection day arrives, the person coming to take the vehicle will perform a quick check of it’s condition and capture your end of lease mileage. At this point, you want to ensure:

  • Keys, including spares and all vehicle documents such as the manual, etc., should be present.
  • The vehicle should have a valid MOT up to and including the day of collection.
  • The vehicle’s condition must meet the minimum guidelines for fair wear and tear as set out by the BVRLA.
  • If the vehicle has a private plate, it must be de-registered before the vehicle can be collected. Please contact us to begin this process.

2. Choosing a brand-new vehicle

If you’re renewing your lease, we strongly recommend you arrange this as soon as possible to avoid any delays due to the current semiconductor shortage which may adversely affect stock and delivery timescales.

We will also try and arrange collection of your existing vehicle on the same day as delivery of your new vehicle to make the transition as seamless as possible.

To get started, speak to your account manager.

You also might like…

If you liked this article then check out our posts about similar topics

Completing a Vehicle Inspection Report

You are required to complete a vehicle inspection report every month to ensure your vehicle is safe and roadworthy Using...

Adding e-Fleet Mobile To Your Device

e-Fleet Mobile is a web app - that means you don’t need to download the app from an app store, and you don’t need to...

Maintenance Made Easy

Vehicle maintenance is something that has to be done We aim to make it as easy as possible for our drivers Lender Maint...

Understanding Speed Limits

Understanding and observing the speed limit for the specific vehicle you are operating is key to ensuring your safety an...

About Sale and Leaseback

Sale and Leaseback is a leasing option that allows you to sell a business vehicle to one of our finance providers and le...

About Salary Sacrifice

A salary sacrifice scheme allows your employees to give up a portion of their salary in return for a non-cash benefit su...

About Contract Purchase

Contract Purchase allows you to lease a new vehicle over an agreed period of time and mileage at a fixed monthly cost wi...

About Finance Lease

There are two types of finance lease available: Fully Amortised and Final Rental In both cases you do not have the optio...

Looking for help with something else? We’re here for you.

Request a call back


Or Call Us On: 0345 601 8407
Schedule a call back