When To Look About Renewing Your Car Lease?

Is your car lease approaching the end of your contract? Are you wondering when you need to start thinking about replacing it with a new car lease?

Times are changing and this means that you shouldn’t leave renewing your car lease to the last minute – Particularly if you want a vehicle in a specific colour, with a particular specification.

Car leasing companies receive a large number of enquiries from customers who want a specific vehicle and they need it straight away. This is fine if you are not fussy about the spec and colour, but if you are – then you must leave enough time for a potential factory order.

Car leasing expert, Kevin Cavanagh, comments “Many people wrongly assume that their preferred vehicle will be in stock and more frequently this isn’t the case,

“Customers who leave it to the last minute often have to compromise on the colour/spec – or wait for a factory order which could mean incurring vehicle hire costs in the interim period.”

This problem has increased in the last year. Due to the economic climate all vehicle manufacturers have scaled back production – this has resulted in less stock being readily available. In some extreme circumstances, manufacturers have stopped production completely.

We would always recommend allowing at least 4 months to renew a car lease. This will give you a few weeks to do some research into what vehicle you want, get some quotes and be approved for credit. You will also have enough time for a factory order, in case it’s needed, which can take anything from 8 – 12 weeks.

Vesource.co.uk.