Cheap Leases Require Closer Attention To Return Condition
Sunday, 27. December 2009
More people are taking cars on lease as it saves money and improves cash flow. They are also wising up to the fact that cars have to be returned in a ‘reasonable’ condition which means any damage should be repaired or you could face some serious refurbishment charges if the leasing company assesses the work when the vehicle is returned. As a result many are turning to the cheapest alternative and that is the so called ‘smart repairers’ that repair your car at the side of the road. Unfortunately, if this repair is not up to standard the leasing company will still recharge you to put the repair right which means you end up paying for the same repair twice. This is more likely to be the case if the lender has already dropped his rate to the lowest he can in order to acquire the deal in the first place. He can’t afford to sustain a drop in value of the vehicle through a poor repair that you may not even notice after the smart repair has been carried out but he, and any trader bidding on the car in auction, would see immediately. Doing anything on the cheap is not best practice and could end up costing you a fortune. Look for a kite mark if you are using a smart repairer so you at least know that the repairer is accredited. By Graham Hill
