Question: Our car lease is due in the next couple of months. This was our first lease so we have no idea what to expect. The upholstery has some stains but otherwise the car is in a good shape and well under the mileage allowance. We are now looking to purchase a new car. What can we expect when we turn the car in? Is there a way we can fall for a scam?
Answer: When leasing a car the finance company will either have their own return standards or will comply with the industry “Fair wear and tear” standards set out by the BVRLA (British Vehicle Rental & Leasing Association). You will need to speak with your lease provider and find out whether they use the BVRLA standards or if they have their own standard in place. Once you have established this you will be able to identify what is classed as “Fair Wear and Tear” in your case and what isn’t. Things that fall outside of the standards will incur additional charges that are agreed between you and your car lease provider. If your current car leasing provider complies with the BVRLA standards you can obtain a copy of these standards by visiting bvrla.co.uk. Minor stains and normally occurring wear doesn’t sound like something you’d need to be worried about.
With regards to your new vehicle this will be treated as a completely separate transaction. You are not obliged to stay with your current car finance provider if you think you can find a better deal elsewhere. You might be able to find a new car lease that better fits your personal or business requirements.
