If this persists well into 2022 its going to cause me an issue as around May have to choose my next lease or pass and go solo, or buy my current lease, which is what planned to do, and in a normal world that exchange is perfectly amicable, the lease company get more than auction and i get a car know and at competitive price.
Lease company is going to do well, mileage will be about 9000 less than expected due to Covid and they likely going to ask a ton more for it.
If its silly money will definitely be passing and may have just go for a much older car that miss the clamour due to age, till some normality returns.
Could lease again, but with the price increases, the extended lead times and the now borderline onerous BIK, its not my favoured option.
It might seem great that get back nearly what paid for a car 3 years on, but you only win if not replacing or going old enough to avoid the clamour,
Since you mention BiK, I presume it’s company?
I’m currently on company car too and have also opted out, quite lucky tho as we have a decent opt out cash allowance scheme which I’ve put towards funding my 45 on order.
Anyway, we use LEX, in “normal” times, a few colleagues have purchased their company cars at the end of the lease, they paid “bottom book value” for them and LEX never even checked the condition (mileage is recorded through MOTs and services obviously). Maybe worth the question to the lease company, although, I have heard the the “book” value (or WeBuyAnyCar that’s used nowadays) has increased too.
That being said, according to others at work, LEX prices haven’t gone up much for new cars and depending on your company’s agreement, LEX (in our case) are very willing to let the be existing car roll on until the new one arrives.
The boring focus I’m driving is over 4 years and out of contract, but it’s been agreed that I can use it until my new car arrives, at which time the focus will return to LEX.
In case you’re wondering, I’m driving the focus because my GTD (that I chose) was written off following an accident
and the focus was spare after someone had left.
