Car Lease Contract

665298 · 28 July 2020 at 10:16AM

Has anyone any experience of renegotiating their car lease during the course of the contract?

After my existing car lease deal expired in January 2020, I took out a new one, 24 months, 20000 miles per annum directly with Audi Financial Services through my local Audi dealership. At the end of February, nothing Covid-19 related, I left my employment. I contacted Audi in reference to the agreement, with a view to reducing the annual mileage, but was informed I couldn’t make any changes during the first six months of the contract. I duly contacted them again in July 2020 and they gave me three new quotations based on reduced mileage of 10,000 miles, 7,500 miles and 5,000 miles per annum. Given that when I took out the lease, there was at least a £50 per month difference between mileage quotations of 10 and 20 thousand miles per annum, I was shocked to find that to half the mileage i.e. 10,000 miles per annum only effectively reduced the monthly payments by £16 per month. The quotations for 7,500 and 5000 miles per annum were only marginally better with effective savings of £20 and £24 per month respectively.

I realise they hold all the aces but would appreciate any feedback or guidance based on others experiences.

Shakin_Steve · 28 July 2020 at 2:42PM

The reduced mileage is for a reduced period, 16 months versus 24 months, so you will only get a pro rata deduction. To be honest, I'm surprised they offered you anything, a contract is a contract and they're not obliged to agree to any variation.

665298 · 28 July 2020 at 11:00PM

Thanks for the comment, yes the £16 per month reduction is the pro-rata amount, it's ~£22 reduction per month for the remaining payments. It was surprised too, but it was their offer to renegotiate. I was just looking for feedback from anyone whose been in a similar position and whether there is any angle to get a better deal.