See which of the 4 options are best for you
New Replacement Vehicle
Order your new replacement vehicle to coincide with your current contract end date. We’ll arrange delivery of the new vehicle and collection of the old one on convenient dates. Note that delivery times vary, so consult your Account Manager for details.
Formal Extension
You can extend your lease for 6 or 12 months, useful for short-term needs or delays in new vehicle delivery. Costs vary, so consult your Account Manager for a quote. Note: the vehicle may be out of warranty, and early termination fees could apply.
Informal Extension
Some leasing companies will let you informally extend your contract on a rolling monthly basis, based on an agreed monthly rental. Most rentals will be based on a “true monthly cost”, so may increase depending of how many initial rentals you paid up front of the primary lease term. This is a great option if your new vehicle is due in a matter of weeks and you just need to remain mobile for a short time. Please note that the leasing company can request the vehicle's return on short notice.
Purchasing the Vehicle
Some leasing companies will let you request a purchase price for the vehicle at the end of the primary contract term based on its current market value, although terms and conditions will apply. If you would like to explore this option then please speak to your Account Manager.
What should I consider before my lease ends?
Beyond reviewing your options outlined above, there are several other things more relevant to the vehicle and contract themselves to consider:
BVRLA Fair Wear and Tear Guidelines
The BVRLA has published a fair wear and tear guidelines that outlines the acceptable level of wear and tear on a leased vehicle at the end of the lease term.
The BVRLA fair wear and tear guidelines defines fair wear and tear as "the reasonable and normal deterioration which can be expected to occur over the course of a lease, taking into account the age and mileage of the vehicle, and the use to which it has been put." The guidelines include detailed descriptions and photographs of what is considered fair wear and tear for different parts of the vehicle, including the exterior, interior, wheels and tyres, and under the hood.
Excess Mileage Charges
Excess mileage charges are fees that are incurred when you exceed the agreed-upon mileage limit in your original lease contract. These charges are designed to compensate for the additional depreciation and wear and tear on the vehicle caused by these excess miles.
The excess mileage charge is typically calculated by multiplying the excess mileage driven by a per-mile charge, which is specified in the lease contract. For example, if the agreed upon contract mileage limit was 30,000 miles, and the lease contract holder drives 32,000 miles during the lease term, they will incur excess mileage charges for the 2,000 miles that they drove over the limit. The per-mile charge will vary depending on the terms of the lease contract.
Maintenance, Servicing and MOT
You are expected to return the car in the same condition that it was in when you received it, minus normal wear and tear. Any damages beyond normal wear and tear may result in additional charges. The majority of vehicles returned to the leasing company tend to be in good condition, however, some common things to look out for when inspecting your vehicle before it's lease ends are: excess mileage, alloy wheels, missing service history, missing spare key, missing locking wheel nut
What is expected of me on the renewal day?
Vehicle Delivery
On the day of delivery of your new car, please ensure that you will be available to take delivery from 9am - 5pm. Normally, you will receive a call from the delivery driver on route, or sometimes the day before, with an estimated delivery time. However, please remember that deliveries can be impacted by weather conditions, traffic/road accidents, train strikes, fuel shortages, industrial action, driver sickness etc. Everyone will always try their very best to get the car delivered to you at the time expected.
Once the car arrives, it is vitally important that you check over the internal and external condition of the car to ensure it is damage-free, as it is difficult to rectify any damage after the event if you have signed the delivery note to state that there is no damage. Please also check for things such as both keys being present, locking wheel nuts, spare tyres (if applicable) and service packs etc.
Please also ensure that you have organised your fully comprehensive insurance in your own name, as after the driver leaves this will be your responsibility.
If there are any queries or concerns, please call your Account Manager for advice whilst the driver is still with you. The new vehicle should arrive with you in a clean and tidy condition, however, please take into consideration things such as the weather, as it will not always be possible to avoid all natural road grime in the transportation process.
Vehicle Collection
On the day of having your existing vehicle collected, please ensure you are available all day. Again, you would normally receive a call from the collection driver beforehand with an eta, however, as per the above there are many factors involved in this.
Please ensure that the car is clean and tidy. Please ensure that all service receipts, MOT certificates and documents (if applicable) are present and correct. Please ensure that the car has received all scheduled maintenance and services as required by the manufacturer, or additional charges may apply. Please check the tyres to ensure that they are legal and properly inflated.
Please ensure that all detachable / removeable parts are present, such as head rests, parcel shelves and locking wheel nuts. Please also ensure that BOTH keys are handed over to the collection driver, as these can be very expensive to replace.
Finally, please take a note of the mileage and any damage on the vehicle. Excess mileage and vehicle damage (particularly alloy wheels) are the biggest reason for re-charges being applied to the customer. Please check the BVRLA Fair Wear & Tear Guide for further information regarding expectation of condition etc. You will be asked to sign a collection notice by the driver, so please ensure you agree with his assessment.
How can I get a new vehicle
For Existing and Non-Rivervale Customers
A new vehicle is a very personal choice. Every customer will have their own specific requirements, expectations and budget to work to. Some people prefer a 24 month lease, but some prefer 48 months. Each customer will have a different use for the vehicle, and subsequent annual mileage requirements. Petrol, diesel or electric? Manual or automatic? City car, SUV, 4x4, sports car, estate car, 2 seater, 7 seater, towing capability?
In essence, there are so many different cars to choose from these days. Some will be available within a couple of weeks, and some may be a 12 month lead time. The Rivervale Leasing website will give you a guide on pricing and lead times for many vehicles, and will let you send through an online enquiry for a bespoke quotation.
Or, if you have dealt with Rivervale for your current or a previous vehicle, then why not give your Account Manager a call to discuss your options. They may come up with a suggestion that you hadn't considered!
