See which of the 4 options are best for you
New Replacement Vehicle
Order your new replacement vehicle to coincide with your current contract end date. We’ll arrange delivery of the new vehicle and collection of the old one on convenient dates. Note that delivery times vary, so consult your Account Manager for details.
Formal Extension
You can extend your lease for 6 or 12 months, useful for short-term needs or delays in new vehicle delivery. Costs vary, so consult your Account Manager for a quote. Note: the vehicle may be out of warranty, and early termination fees could apply.
Informal Extension
Some leasing companies will let you informally extend your contract on a rolling monthly basis, based on an agreed monthly rental. Most rentals will be based on a “true monthly cost”, so may increase depending 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 in a matter of weeks and you just need to remain mobile for a short time. Please note that the leasing company can request the vehicle's return on 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. 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 fair wear and tear guidelines that outline the acceptable level of wear and tear on a leased vehicle at the end of the lease term.
Fair wear and tear is defined as the reasonable and normal deterioration that can be expected over the course of a lease, taking into account the age, mileage, and use of the vehicle. 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 apply if you exceed the mileage limit agreed in your lease contract. These charges compensate for the additional depreciation and wear caused by the extra miles.
The charge is typically calculated by multiplying the excess miles driven by a per-mile rate specified in the lease agreement. For example, if your contract allows 30,000 miles and you drive 32,000 miles, you will incur charges for the 2,000 miles over the limit. The per-mile rate will vary depending on your contract terms.
Maintenance, Servicing, and MOT
Vehicles should be returned in the same condition as received, excluding normal wear and tear. Damages beyond normal wear and tear may result in additional charges.
Common areas to check before returning your vehicle include:
- Excess mileage
- Alloy wheels
- Service history
- Spare key
- Locking wheel nut
Ensuring these are in order can help avoid unexpected fees at the end of your lease.
What is expected of me on the renewal day?
Vehicle Delivery
On the day your new car is delivered, please ensure you are available between 9 am and 5 pm. The driver will usually call on route or sometimes the day before with an estimated arrival time. Please note that weather, traffic, strikes, or driver sickness may cause delays, but every effort will be made to deliver on time.
When your vehicle arrives, check the car thoroughly, both inside and out, for any damage, as it is difficult to resolve issues after signing the delivery note. Make sure both keys, locking wheel nuts, spare tyres if applicable, and service packs are present. Confirm that you have fully comprehensive insurance in your name, as responsibility transfers once the driver leaves. If you have any questions, contact your Account Manager while the driver is present.
Your new vehicle should arrive clean and tidy, but please consider that some road grime may occur during transport.
Vehicle Collection
On the day your existing vehicle is collected, please ensure you are available all day. The collection driver will usually call with an estimated arrival time, though delays can occur.
Before collection, ensure the car is clean and tidy. Have all service receipts, MOT certificates, and relevant documents ready. Verify the car has received all scheduled maintenance, as extra charges may apply if it has not. Check that tyres are legal and properly inflated. Make sure all removable parts such as headrests, parcel shelves, and locking wheel nuts are present, and that both keys are handed over.
At collection, note the mileage and any damage, as excess mileage and damage, particularly to alloy wheels, can result in re-charges. Refer to the BVRLA Fair Wear and Tear Guide for condition expectations. You will be asked to sign a collection notice, so please confirm you agree with the driver’s assessment.
How to Get a New Vehicle
For both existing and new customers, choosing a new vehicle is highly personal. Consider your requirements including lease term, annual mileage, fuel type, transmission, and vehicle type. Some cars may be available within weeks, while others may have a 12-month lead time.
The Rivervale Leasing website provides guidance on pricing, lead times, and allows you to submit an online enquiry for a bespoke quote. If you are an existing customer, your Account Manager can provide tailored advice and may suggest options you had not considered.