Can my car lease be extended
Want to know if your lease car experience can be extended or Can my car lease be extended ? This article explores in what circumstances this is possible
A Contract Extension is subject to several criteria: Can my car lease be extended
- For Formal Extensions, a modifying agreement must be signed.
- If there are less than 3 payments outstanding, a new agreement will run from the end of the existing contract.
- A new rental will be calculated moving forward
- An administration fee of £95 exc VAT will be charged per vehicle
How do I get a contract extension? Can my car lease be extended
Contact your lease provider and ask for an informal or formal extension depending on your needs. If you want to opt for a formal extension then a modifying agreement as highlighted above must be signed. A new rental fee will be calculated and an admin fee will be charged. The process of contacting your lease provider through to obtaining your lease extension is quite simple.
Step 1 – You contact your lease company to request the lease extension.
Step 2 – Your lease provider will check to see if you and your vehicle is eligible for a lease extension. Your lease provider will then notify you accordingly.
Step 3 – If you are eligible then a new modifying agreement will be sent to you from the finance house. You’ll also receive your terms and conditions including mileage allowance and contract end date. These will be emailed to you to speed up the process. Please be sure to check all documentation before signing and returning to your lease company.
Step 4 – Print off and sign the paperwork (modifying agreement) and return it to the address of your lease company provided.
Step 5 – Once received this will be sent on to the finance house for review. This process can take up to 5 working days.
Step 6 – Continue to pay the monthly rentals until the contract extension is complete and a new end date is provided to you.
Of course, if you have anymore questions about Can my car lease be extended , we’re more than happy to help. Our friendly and helpful staff are only a phone call away on 028 7122 8822 . Or contact us online here.