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Author Topic: End Of Lease Options  (Read 3833 times)

Offline DTX3

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End Of Lease Options
« on: 30 July 2019, 15:23 »
So my lease is up in October. Since this is my first lease, what usually happens. Does the lease company ever offer the option of keeping the car longer? Or to keep your business do they ever offer another car at a discounted rate? Or is this unheard of and they literally just take the car and that's that?

My lease is with ALD Automotive. I know I could quite easily contact them but would like to get some opinions and info from you guys before I do.

Thanks
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Offline Jim_mk7.5

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Re: End Of Lease Options
« Reply #1 on: 30 July 2019, 15:30 »
Think some do and some don't offer you options so the best bet would be to contact them and see what they say as could vary.

I managed to arrange the sale of a previous lease company car to a 3rd party (most say you can't buy it yourself) and made £500 for a few emails and phones calls as my company weren't fussed about it. To be fair, the agreement price was a bargain and could have made £3k if I'd managed to buy it and sell it properly.
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Offline fredgroves

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Re: End Of Lease Options
« Reply #2 on: 30 July 2019, 15:50 »
Sometimes on a lease vehicle you can get a good price. Try twisting their arm about the costs they incur to have BCA come and get it, inspect it and sell it at auction and the price its likely to get at auction.

Some will let you have it for far less than the figure they first come out with...

Others are total g1ts and ask a stupid amount.
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Offline Hertsman

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Re: End Of Lease Options
« Reply #3 on: 30 July 2019, 15:51 »
Reason you not get too much assistance here is each company has a slightly different policy and pricing.

I personally have the option to purchase I have to ring them up when get my option to renew and they will give you a potential price which is then confirmed a month before lease ends. - All my previous cars that have gone back have gone straight to auction.

If consider buying, check a reasonable amount of similarly specced cars at same year and mileage and see how compares.

think everyone can make a case for keeping or changing due to variances in how the deal works for them, so there is no right wrong answer to come from here, other than do your diligence on purchase vs another lease. 
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Offline Hertsman

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Re: End Of Lease Options
« Reply #4 on: 30 July 2019, 15:55 »
Quote from: fredgroves on 30 July 2019, 15:50
Sometimes on a lease vehicle you can get a good price. Try twisting their arm about the costs they incur to have BCA come and get it, inspect it and sell it at auction and the price its likely to get at auction.

Some will let you have it for far less than the figure they first come out with...

Others are total g1ts and ask a stupid amount.

Thats pretty much my understanding from talking to enough who have done it, some will listen to reason and you get a price close to auction or some will rigidly stick to a figure that you can readily beat on open market - so its a case by case personal circumstance decision and you just do same diligence would do for any purchase.
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Offline Jim_mk7.5

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Re: End Of Lease Options
« Reply #5 on: 30 July 2019, 15:59 »
Quote from: Hertsman on 30 July 2019, 15:55
Quote from: fredgroves on 30 July 2019, 15:50
Sometimes on a lease vehicle you can get a good price. Try twisting their arm about the costs they incur to have BCA come and get it, inspect it and sell it at auction and the price its likely to get at auction.

Some will let you have it for far less than the figure they first come out with...

Others are total g1ts and ask a stupid amount.

Thats pretty much my understanding from talking to enough who have done it, some will listen to reason and you get a price close to auction or some will rigidly stick to a figure that you can readily beat on open market - so its a case by case personal circumstance decision and you just do same diligence would do for any purchase.

It also depends on the car and how much support on the deal there was etc. My C Class was a bargain and as I said, there was probably £3-4k in it for someone even after my cut and the trader who bought it. Another Merc went back 12 months later, an E class and there wasn't even enough for anyone to have a drink out of it.
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Offline DTX3

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Re: End Of Lease Options
« Reply #6 on: 30 July 2019, 16:27 »
Forgot to mention this isn't on PCP. So I have no option to purchase the car :(
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Offline Jim_mk7.5

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Re: End Of Lease Options
« Reply #7 on: 30 July 2019, 16:38 »
Quote from: DTX3 on 30 July 2019, 16:27
Forgot to mention this isn't on PCP. So I have no option to purchase the car :(

Some leases let you sell the car to 'a 3rd party', someone who is unconnected to you. i.e a friend in the trade?!
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Offline Guzzle

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Re: End Of Lease Options
« Reply #8 on: 30 July 2019, 17:07 »
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Online jv

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Re: End Of Lease Options
« Reply #9 on: 30 July 2019, 17:12 »
Depends who the finance company is, mine through Arval has been extended twice but have been told no option to purchase at all.
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