End of Lease FAQs

We know that you may have a few questions about the end of your lease, so we’ve listed all of our most frequently asked questions here. These questions aim to answer your queries about what do approaching the end of the lease, buying the lease car, fair wear and tear and renewing your lease contract.

Frequently Asked Questions About The End Of Lease

Your finance company will send you a letter or an email letting you know when your lease car is due to go back. They will request that you give them a call to make the necessary arrangements for the collection of the car. For more information, check out our end of lease page.

It is recommended that you start looking for a new lease around 6 months before your current one ends. This is so that you are prepared for any lead time and can ensure that your new car will arrive before your current one is taken away.

It depends on which finance company you have but if they allow it, you should be able to terminate your contract early. This will involve paying an early termination fee which can be up to 50% of the total remaining rentals left to pay.

No, you do not own the car at the end of your contract. The finance company will ask for you to get in contact with them to organise the collection of your car when it gets closer to the end of your lease. Then, they will simply collect it and you will be free to lease another car.

Leasing is designed to help you get rid of depreciation worries when it comes to driving a new car. You don’t have to worry about how much the car has reduced in value over time. If you are insistent on trying to buy your lease car, there is nothing stopping you from asking your finance company for the option. They don’t have to sell the car to you, but they may give you a price through themselves or direct you to the auction house who will have current ownership of the car. Learn more about buying your lease car on our guide page.

It is recommended that you carry out an inspection of your lease car about 6 to 8 weeks before it is due to go back. Check out the BVRLA’s fair wear and tear guide to help with your inspection.

  1. Wash and dry the lease car before you inspect it and make sure you have sufficient amount of light.
  2. Examine each panel of the car closely for damage: look at it from different angles and heights to be thorough.
  3. Check for any chips, cracks or holes on your lamps, lenses, windows and mirrors.
  4. Inspect the tyres: the tread will need be even and there should be no rust or corrosion on the wheels, wheel hubs and wheel rims.
  5. Analyse the interior: the upholstery should have no odours, tears, burns, stains or wear

For more information, check out our returning your vehicle page.

To avoid receiving any charges when your lease car is returned, we recommend that you regularly maintain the car. This involves checking the car over every couple of weeks and keeping an eye out for any minor damage.

If your lease car is ever damaged, consult the fair wear and tear guidelines that your finance company uses to see whether the damage is acceptable as fair wear and tear. If the damage does exceed fair wear and tear, you will need to get it repaired before the car is returned. However, we recommend that you get it repaired as soon as possible so it doesn’t make the damage worse.

‘Fair wear and tear’ is the term we use for the damage your car may receive due to its age and normal day-to-day use. For example, small scratches in the paint due to small stone chips is expected if the car is going to be driven every day. On the other hand, damage like a large dent in the door of the vehicle due to a traffic accident is not expected and thus is not fair wear and tear. Learn more about fair wear and tear on our guide page.   

We recommend that the exterior is washed fully and that you arrange for the interior to be cleaned and valeted as well.

When you take out a lease contract, you agree to a set annual mileage amount to help determine how much you will need to pay for the lease car per month. The finance company are expecting to collect a car from you that has a mileage equal to or under the agreed amount per year. If you go over the agreed mileage amount, you will need to pay an excess mileage charge to compensate the finance company for your error. Find out more about mileage fees on our excess mileage page.

Got a question? Feel free to get in touch to see how we can help.