Buy another car to avoid mileage charge on lease

kmb500

Why is everyone out to get me on this thread????

AdrianC

kmb500 wrote: »

Why is everyone out to get me on this thread????

They aren't...

You're making assumptions. Assumptions can be very expensive.

Handing back with a bodge job of a wheel refurb will result in you being charged to have them redone. That may be more than if you'd handed them back unbodged but scuffed.
Handing back with a key and a clone when they want a pair of keys will result in you being charged.
The owner of a plate that's allocated to a car is the registered keeper of that car.

alan_d

kmb500 wrote: »

Why is everyone out to get me on this thread????

I don't think anyone is out to get you.
Most people here are just providing advise, based on their experience.
Personally, i've not leased a car, but have many years experience maintaining and repairing cars, and with insurance companies to know what is 'done properly' and what is cutting a corner or a bodge.
As has been described in another reply, there is an 'Industry fair wear and tear standard' - so you need to get the car to meet or exceed that standard, or will be charged.

You NEED to declare everything to your insurance company, as in the event of a claim, they will soon find an undeclared modification as a reason to wriggle out of paying up.
Further, as you don't own the car, any modifications will need to be approved by the lease company.

kangoora

kmb500 wrote: »

Costs of handing it back:
- Replacement spare key - £130
- Replacement rear bumper - £200
- Replacement fog light - £60
- Fix front wing dent - unknown cost (got a quote for £700 last time car was in dealership LOL nothanks)
- Alloy wheels refurb - £200
- "Admin fee" of removing registration plate - £42

Holy crap - if you are that unlucky (or careless) maybe better to think about getting a personal loan for the PCP amount and buying a 3 year old used car.

No worries about dings (until you come to sell it), no worries about mileage and after the loan is paid off you still have a car that could easily last another 4-5 years or even longer.

Unless, of course, it is 'important' for you to be seen in a new car every 3 years

boliston

If you use the 'voluntary termination' route then presumably the terms are different regarding the condition of the vehicle (mileage etc)?

Mercdriver

boliston wrote: »

If you use the 'voluntary termination' route then presumably the terms are different regarding the condition of the vehicle (mileage etc)?

The car must be in good condition, and more and more finance are applying a pro rata limit on mileage. They didn't used to but too many people are using VT as an early opt out for reasons that the legislation didn't cover.

kmb500

kangoora wrote: »

Holy crap - if you are that unlucky (or careless) maybe better to think about getting a personal loan for the PCP amount and buying a 3 year old used car.

No worries about dings (until you come to sell it), no worries about mileage and after the loan is paid off you still have a car that could easily last another 4-5 years or even longer.

Unless, of course, it is 'important' for you to be seen in a new car every 3 years

That's why I'm looking at getting a cheap old banger - as I have said multiple times in this thread, if you cared to pay attention rather than make some naff joke about "Oh look at this young person who thinks its cool to have a brand new car, what an idiot".

alan_d wrote: »

You NEED to declare everything to your insurance company, as in the event of a claim, they will soon find an undeclared modification as a reason to wriggle out of paying up.
Further, as you don't own the car, any modifications will need to be approved by the lease company.

I'm fully aware of that thanks very much, that's why I have a modified car policy with Adrian Flux and why I've done that for the past two years, so I notify them every time I change a mod.


Can people stop being such condescending pricks in this thread, and return to the topic like the two posters above are?

Mercdriver wrote: »

The car must be in good condition, and more and more finance are applying a pro rata limit on mileage. They didn't used to but too many people are using VT as an early opt out for reasons that the legislation didn't cover.

Yes, I've clarified with insurer that it would be charged pro rata. So could even be worse than the current estimate.

Herzlos

kmb500 wrote: »

My lease is ending at the start of May and I'm almost at the mileage limit. I reckon I will be ~3500 miles over the limit by the time the car goes back.

3500 miles over = £438 charge

I'm facing enough charges with handing the car back as it is and would like to spend as little as possible.

I will be buying a car in April/May anyway so does it make any sense to just get the next car early?

Buying the other car would only make sense if you could hand the current one back early (paying off the term). You'll be wasting a lot of money running 2 sets of insurance (1 without NCD), 2x tax, having to store 2 cars and so on.

You could remove insurance and SORN the lease car, but that's going to be very risky as it's going to be worth a lot of money.

AdrianC

Herzlos wrote: »

You could remove insurance and SORN the lease car, but that's going to be very risky as it's going to be worth a lot of money.

The OP doesn't have the V5C so can't SORN it, and the lease will almost certainly require the car to be insured at all times.

Jumblebumble

kmb500 wrote: »

My lease is ending at the start of May and I'm almost at the mileage limit. I reckon I will be ~3500 miles over the limit by the time the car goes back.

3500 miles over = £438 charge

I'm facing enough charges with handing the car back as it is and would like to spend as little as possible.

I will be buying a car in April/May anyway so does it make any sense to just get the next car early?

Having two cars on the go for more than a very brief period seems strange to me - and I'm aware there will be tax & potentially insurance to consider.

I'm not sure how to weigh things up to be honest.

I have not read through the whole thread but have you tried asking to buy extra miles now.
My understanding is that some lease companies will sell these at around half the price if bought during the term.