Drivers Told To Plan Earlier To Replace Lease Cars
Thursday, 29. July 2010
Whilst I’ve been warning about long lead times for months now the industry has warned those that lease their cars to make arrangements earlier to replace their cars as some leasing companies are proving to be very inflexible with regard to lease extensions unless you are replacing your current car with another of the same make, especially where a captive funder has been used. Worst at the moment are VW Finance, Audi Finance and Citroen Finance. If you aren’t replacing with another car of the same make expect to be asked for your car back on the last day of the contract. Even a Ford KA is now reported to be on an 18 week delivery! Another problem is that leasing companies are loath to price fix beyond 2 months so if your replacement will take 4 months to arrive will the leasing company stick with the rate you agreed today or will they adjust it in line with changing market conditions, making the new car more expensive than you can afford to pay? The leasing game isn’t easy at the moment and made worse by manufacturers who refuse to pull their finger out! Does this put you off leasing or new cars? Let me know? By Graham Hill
