Here are some important hints and tips which you might find helpful when it comes to leasing a vehicle.
Length of contract
When you lease a vehicle, you agree to hire the vehicle for an agreed term (the length of the contract). Lease agreements usually last for 18, 24, 36, or 48 months. Coming out of a lease early can result in an early termination fee. Analyse these clauses carefully.
Residual value of the vehicle
It’s best to select a vehicle with a good residual value at the end of the contract. This can bring down your monthly payment.
Excess mileage charges
Your monthly payment will be based on an average mileage that you are likely to do throughout your contract. Estimate your vehicle usage accurately before entering into a contract because excess mileage charges may apply.
Wear and tear
As you don’t own a leased vehicle, if there is excess wear and tear, you will be charged for this when you return the vehicle. So read wear and tear clauses carefully and make sure you understand them.
Most inspectors work from the guidelines provided by the BVRLA (British Vehicle Rental and Leasing Association) in their Fair Wear & Tear Guide.
Modification clauses
Usually customers are not allowed to make any modifications to a leased vehicle. If you do make any changes, you will have to bear all the expenses to bring the vehicle back to its original condition when returning it to the leasing company.
Want to know more about our honest, open and refreshingly customer-centred approach to vehicle leasing?
Get in touch today. Call us on 01273 005 190 or email enquiries@autofunding.co.uk
Found your financing method?
Whether you know which option you want or require some expert assistance,AFS can help get the wheels in motion.
So call us today on 01273 005 190 or email enquiries@autofunding.co.uk.
