Do you have a question about renewing your lease? Call our rental specialists on 0345 811 9595 and select option 2 to discuss the options you have. Has anyone else recently received quotes from VWFS for the renewal of Yeti leases? To help you understand the options available to you, nationwide vehicle contracts explain the different types of contract renewals as well as the criteria, fees, and process for renewing your lease, also known as contract renewal. A warning story about the renewal of the lease. I took a Skoda Superb over a 2-year leasing, extended to three years – paid only £172 per month, took an informal 6 month extension (offered by Skoda in COVID circumstances) at the same monthly rate, and then looked for another 6 month extension for which I was quoted over £708.76 per month! I assume that this will be used to recover the depreciation value. Obviously do not keep the car A formal extension is a formal agreement between the financial company and the customer that allows the customer to extend the rental contract for an additional period, usually 6 or 12 months. A change agreement is sent to the customer, detailing the extended term, extended due date and renewed mileage agreement as well as the revised monthly rent. If it is agreed that the extended contract expires at the end of the existing contract. I just had two ridiculous quotes from VWFS for the 6 or 12 month extension back. To extend by 6 months, they want £396.30 per month!! To extend by 12 months, they want £296.81 per month. Both would have a processing fee of £60 and I would have to give the car a two-year service. After a few longer trials, I decided to buy an Octavia (built this week) on PCH, so my Yeti will return next month (hopefully).
I have received the letter from BCA re collection and I will make an appointment that will coincide with the pickup of the Octavia. I can use Skoda`s free 5-day insurance to cover overlaps with both vehicles. The direct debit account must be held in the name of the contract holder. In the case of a typical PCH contract, there is no option to buy the car at the end of the term. But if you fall in love with your car, it is still worth asking the leasing company if there is a way to extend the contract or even buy the car from them. Ending a PCH prematurely means you may have to pay the full rental fee, so think very carefully before terminating the contract and find out exactly what that total cost would be. An informal extension is an informal agreement in which the customer continues to use the vehicle beyond the end of the contract until pickup is requested. In case of informal renewal, the monthly rent of the initial contract is maintained and paid a posteriori . . .