Leasing Renewals

Item: Rivervale Leasing
Rating: 5.0
Author: Mark Caslin

Is your lease coming to an end? See what your options our with our leasing renewals guide.

Before Renewal Self Appraisals Renewal Day Getting a New Vehicle

Renewals: Brief Timeline

See where you stand and what your next steps are

12 Weeks

Before Renewal

Give yourself the time to assess the vehicles' working condition and plan for any major work needing to be done.

Familiarise yourself with the BVRLA Fair Wear and Tear Guidelines.
Diagnose any major faults with the vehicle, if there are any.
Begin to book in vehicle services for these faults.

12 to 10 Weeks

Before Renewal

Begin to tackle some of the physical issues of the car, including an appraisal of its condition.

Carry out a full appraisal of the vehicle's physical condition
See our guide further down the page on carrying out a vehicle appraisal yourself

10 to 4 Weeks

Before Renewal

Gather all relevant paperwork, and address any final issues with the vehicle.

Gather things such as MOT certificates, service book and operations manual
Arrange for the repair of any non-Wear and Tear damages

Renewal Day

Make your final preparations for returning the vehicle:

Ensure the car is clean and presentable inside and out
Remove all items that did not originally come with the vehicle
Have the relevant documents and all sets of keys ready

What are my renewal options?

See which of the 4 options are best for you

New Replacement Vehicle

Most people will order a new replacement vehicle to coincide with the contract end date of their current vehicle. Under normal circumstances, most manufacturers would be able to give a ball park arrival date of a new factory ordered vehicle.

We can then arrange for delivery of the new vehicle and collection of the old one on mutually convenient dates to cause as little disruption as possible. Please be aware that some vehicles will take far longer to arrive than others, so please speak to your Account Manager to discuss further.

Formal Extension

You may be able to formally extend the current lease for a period of either 6 or 12 months. This can be particularly useful if a short term contract was to suit your needs, or if indeed your new vehicle was delayed by 6 months then this can be a cost effective option.

Different leasing companies charge different amounts for monthly extension rentals, so please speak to your Account Manager to request a quote. Rentals can go up or down, but there is not normally an enhanced deposit or initial rental to pay. Be aware that your vehicle may be out of manufacturer's warranty through, and there could be early termination fees to hand the vehicle back early.

Informal Extension

Some leasing companies will let you informally extend your contract on a rolling month by month basis, based on an agreed monthly rental. Most rentals will be based on a “true monthly cost”, so may increase dependant of how many initial rentals you paid up front of the primary lease term.

This is a great option if your new vehicle is due through in a matter of weeks and you just need to remain mobile for a short period of time. Please remember though, during informal extensions the leasing company can exercise their right to request the return of their vehicle at short notice!

Purchasing the Vehicle

Some leasing companies will let you request a purchase price for the vehicle at the end of the primary contract term based on its current market value, although terms and conditions will apply. This is not a right within the terms of the lease, but rather an option that some leasing companies may extend to you. If you would like to explore this option then please speak to your Account Manager.

What should I consider before my lease ends?

Beyond reviewing your options outlined above, there are several other things more relevant to the vehicle and contract themselves to consider:

BVRLA Fair Wear and Tear Guidelines

The BVRLA has published a fair wear and tear guidelines that outlines the acceptable level of wear and tear on a leased vehicle at the end of the lease term.

The BVRLA fair wear and tear guidelines defines fair wear and tear as "the reasonable and normal deterioration which can be expected to occur over the course of a lease, taking into account the age and mileage of the vehicle, and the use to which it has been put." The guidelines include detailed descriptions and photographs of what is considered fair wear and tear for different parts of the vehicle, including the exterior, interior, wheels and tyres, and under the hood.

Excess Mileage Charges

Excess mileage charges are fees that are incurred when you exceed the agreed-upon mileage limit in your original lease contract. These charges are designed to compensate for the additional depreciation and wear and tear on the vehicle caused by these excess miles.

The excess mileage charge is typically calculated by multiplying the excess mileage driven by a per-mile charge, which is specified in the lease contract. For example, if the agreed upon contract mileage limit was 30,000 miles, and the lease contract holder drives 32,000 miles during the lease term, they will incur excess mileage charges for the 2,000 miles that they drove over the limit. The per-mile charge will vary depending on the terms of the lease contract.

Maintenance, Servicing and MOT

You are expected to return the car in the same condition that it was in when you received it, minus normal wear and tear. Any damages beyond normal wear and tear may result in additional charges. The majority of vehicles returned to the leasing company tend to be in good condition, however, some common things to look out for when inspecting your vehicle before it's lease ends are: excess mileage, alloy wheels, missing service history, missing spare key, missing locking wheel nut

Tips for carrying out your own vehicle appraisal

Personally appraise your vehicle to save on money and potential charges when it comes to the renewal day

Lighting and Conditions

Start your appraisal somewhere with lots of natural light, to ensure you don't miss any small dents and faults.

Clean the Exterior

Get the vehicle as clean as possible, to help identify any noteable damage.

Interior Valet

Cleaning the interior of your car will help identify any stains or tears that may need rectification.

Tyres and Rims

Check tyres for any damage, and for even treads (including spare). Inspect the rims for any scratches.

Controls & Equipment

Ensure all equipment features of the car are in working order, e.g. audio, lights etc.

Check all bodywork

Inspect each individual panel of the vehicle to identify any potential damage.

Windows & Wipers

Double check wiper fluid levels, and inspect the mirrors and windows on the vehicle for scratches, cracks and bulletholes.

Documentation

Ensure all owners manuals, service history records and any supporting MOT certificates are present for when the vehicle is collected.

What is expected of me on the renewal day?

Information about your vehicle's collection and delivery

Vehicle Delivery

On the day of delivery for your new car, please ensure that you will be available to take delivery from 9am - 5pm. Normally, you will receive a call from the delivery driver on route, or sometimes the day before, with an estimated delivery time. However, please remember that deliveries can be impacted by weather conditions, traffic / road accidents, train strikes, fuel shortages, industrial action, driver sickness etc. Everyone will always try their very best to get the car delivered to you at the time expected.

Once the car arrives, it is vitally important that you check over the internal and external condition of the car to ensure it is damage free, as it is difficult to rectify any damage after the event if you have signed the delivery note to state that there is no damage. Please also check for things such as both keys being present, locking wheel nuts, spare tyres (if applicable) and service packs etc.

Please also ensure that you have organised your fully comprehensive insurance in your own name, as after the driver leaves this will be your responsibility.

If there are any queries or concerns, please call your Account Manager for advice whilst the driver is still with you. The new vehicle should arrive with you in a clean and tidy condition, however, please take in to consideration things such as the weather, as it will not always pe possible to avoid all natural road grime in the transportation process.

Vehicle Collection

On the day of having your existing vehicle collected, please ensure you are available all day. Again, you would normally receive a call from the collection driver beforehand with an eta, however, as per the above there are many factors involved in this.

Please ensure that the car is clean and tidy. Please ensure that all service receipts, MOT certificates and documents (if applicable) are present and correct. Please ensure that the car has received all scheduled maintenance and services as required by the manufacturer, or additional charges may apply. Please check the tyres to ensure that they are legal and properly inflated.

Please ensure that all detachable / removeable parts are present, such as head rests, parcel shelves and locking wheel nuts. Please also ensure that BOTH keys are handed over to the collection driver, as these can be very expensive to replace.

Finally, please take a note of the mileage and any damage on the vehicle. Excess mileage and vehicle damage (particularly alloy wheels) are the biggest reason for re-charges being applied to the customer. Please check the BVRLA Fair Wear & Tear Guide for further information regarding expectation of condition etc. You will be asked to sign a collection notice by the driver, so please ensure you agree with his assessment.

How can I get a new vehicle

For Existing and Non-Rivervale Customers

A new vehicle is a very personal choice. Every customer will have their own specific requirements, expectations and budget to work to. Some people prefer a 24 month lease, but some prefer 48 months. Each customer will have a different use for the vehicle, and subsequent annual mileage requirements. Petrol, diesel or electric? Manual or automatic? City car, SUV, 4x4, sports car, estate car, 2 seater, 7 seater, towing capability?

In essence, there are so many different cars to choose from these days. Some will be available within a couple of weeks, and some may be a 12 month lead time. The Rivervale Leasing website will give you a guide on pricing and lead times for many vehicles, and will let you send through an online enquiry for a bespoke quotation.

Or, if you have dealt with Rivervale for your current or a previous vehicle, then why not give your Account Manager a call to discuss your options. They may come up with a suggestion that you hadn't considered!

Now you've read our renewals guide, why not look for your next lease deal?

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Lease guides

Leasing Renewals

Renewals: Brief Timeline

See where you stand and what your next steps are

12 Weeks

12 to 10 Weeks

10 to 4 Weeks

Renewal Day

What are my renewal options?

See which of the 4 options are best for you

New Replacement Vehicle

Formal Extension

Informal Extension

Purchasing the Vehicle

What should I consider before my lease ends?

Beyond reviewing your options outlined above, there are several other things more relevant to the vehicle and contract themselves to consider:

BVRLA Fair Wear and Tear Guidelines

Excess Mileage Charges

Maintenance, Servicing and MOT

Tips for carrying out your own vehicle appraisal

Personally appraise your vehicle to save on money and potential charges when it comes to the renewal day

Lighting and Conditions

Clean the Exterior

Interior Valet

Tyres and Rims

Controls & Equipment

Check all bodywork

Windows & Wipers

Documentation

What is expected of me on the renewal day?

Information about your vehicle's collection and delivery

Vehicle Delivery

Vehicle Collection

How can I get a new vehicle

For Existing and Non-Rivervale Customers

Now you've read our renewals guide, why not look for your next lease deal?

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