Leasing a vehicle can be an attractive option for those who want a new car without the long-term commitment of ownership. However, managing your vehicle lease effectively is crucial to ensure you get the most out of your lease and avoid potential pitfalls. In this article, we will provide you with valuable tips on how to manage your vehicle lease, including keeping track of your mileage, maintaining your vehicle, and returning it in good condition at the end of the lease.

Keep a Close Eye on Mileage

One of the most important aspects of managing your vehicle lease is monitoring your mileage. Most lease agreements come with a standard mileage limit, typically ranging from 10,000 to 15,000 miles per year. Exceeding this limit can result in costly charges at the end of your lease term. To avoid this, here are some tips:

• Estimate Your Annual Mileage:

  Before signing the lease, estimate how many miles you drive annually. If you think you will drive more than the standard annual mileage limit, be sure to tell your leasing company. You may pay a little more on your monthly payments, but it will save penalties later.
  
  

• Use Mileage Tracking Apps:

  Many apps and GPS devices can help you track your mileage accurately. Utilise these tools to stay within your lease agreement's limits.

Tip: If during your lease you know you will exceed your annual mileage limit, advise your leasing company in advance.

Maintain Your Vehicle Regularly

Proper vehicle maintenance not only ensures your safety but also protects you from excessive wear and tear charges when you return the leased vehicle. Here's how to maintain your vehicle effectively:

• Follow the Manufacturer's Maintenance Schedule:

  Adhere to the manufacturer's recommended maintenance schedule for oil changes, tyre rotations, brake inspections, and regular servicing.
  
  

• Regular Inspections:

  It is a good idea to walk around your vehicle on a weekly basis to check for any damage.
  
  

• If your leased vehicle needs repairs:

  It is advisable to address any repairs immediately. You should notify your leasing company if your vehicle needs significant repairs. If the damage is due to an accident, your insurance company should be notified as well.
  
  

• Use Manufacturer-Approved Centres:

  To keep your warranty intact you should use a manufacturer-approved garage.
  
  

• Keep Records:

  Maintain detailed records of all maintenance and repairs performed on the vehicle. This documentation can serve as proof of proper care if disputes arise.
  
  

• Don't Modify the Vehicle:

  Avoid making any modifications to the leased vehicle, as this can result in additional charges when you return it.

Prepare for Lease End

As your lease term approaches its end, it's essential to be well-prepared to avoid any unexpected surprises. End-of-lease charges occur when the vehicle, its equipment or accessories are not used, maintained or looked after as originally agreed at the start of the lease. The charges compensate the leasing company for the cost of rectifying damage or missing items such as keys or service history. Here's what you should do:

• Review Your Lease Agreement:

  Familiarise yourself with the terms and conditions of your lease, especially any end-of-lease responsibilities and potential fees.
  
  

• 10 weeks prior to returning the vehicle:

  Inspect your vehicle after you have thoroughly cleaned it inside and out.

  • Walk all the way around the vehicle and examine closely each panel including the roof, bonnet, doors, and body for significant damage. Inspect lamps, lenses, windows and mirrors for chips, cracks and holes.

  • Check the tyres (including spare) for damage. Check that the wear on the tread across each tyre is even. Inspect wheels, wheel trims and wheel spokes for scratches and deterioration.




Arrange to repair any damage:

Damage that is outside ‘fair wear and tear' should be professionally repaired.



Remove Personal Items:

Clean out the vehicle and remove all personal belongings before returning it.

Tip: Fair wear and tear occurs when normal usage causes deterioration to a vehicle. It is not to be confused with damage, which occurs as a result of a specific event or series of events such as impact, inappropriate stowing of items, harsh-treatment, negligent acts or omissions.

Conclusion

By following these tips, you can make the most of your lease and avoid any unexpected charges or complications along the way, allowing you to enjoy the ride with peace of mind.

By Sarah Portet of Compass Vehicle Services Ltd - Compass Vehicle Services specialise in bad credit car leasing, offering affordable bad credit car finance for businesses and individuals with poor credit.