Luxury car leasing: Ensure a successful turn-in day
If you lease your luxury cars, turn-in day can be fraught with emotion, especially if you receive a hefty bill for small scuffs you thought would go unnoticed.
Your leasing company wants to get its cars back in good condition so that they can be sold on to recoup the initial investment, especially if you’ve leased a high-end model.
Invite the leasing company’s inspector to perform the check at your home
Most leasing providers use independent inspectors so that they – and you – are guaranteed a fair and objective report. Regardless of how long you’ve been leasing cars for, this report is final. This is why it can be a good idea to have the inspection done at home, with you present. This can reassure you that the inspection’s fair and give you a last-minute chance to correct any minor flaws or stains.
Make sure the car gets regular maintenance
You chose your current car because you wanted the most up-to-date model available. This is because you love driving a luxurious car, or because you’re very safety-conscious and like to take advantage of the latest safety features. If you choose to lease a high-end model, you can effectively punch above your weight, budget-wise, but you need to look after your wheels. Take the car for regular services, change the oil, check fluid levels, keep the tyres aligned. Most leasing companies offer maintenance packages, especially for luxury models, as they like to look after their investments, so take advantage of this and visit Vantage Leasing for the latest offers.
Sort out minor dings before turn-in day
Your tyres, bumpers and windows are always cheaper to fix yourself before turn-in day, as your lease company can add surcharges to your bill for having to arrange repairs themselves. Getting these repairs done in the weeks and months leading up to handover also helps you to spread the cost.
You should also make sure window buttons, the car stereo and other in-car fittings and extras are as good as new (or almost), and replace them if necessary.
Minor scuffs and stains
Every lease company is slightly different, so you need to look at the small print when it comes to minor damage. Minor damage, even in top-end cars, is usually overlooked, but you need to know at what point minor changes to major. Some companies ignore scratches shorter than 25mm, while others only start charging at 40mm.
Keep all the fittings
This includes the funny little rubber mat in the loose change trays, the spare keys and even the cover for your spare tyre.
Think about wear-and-tear cover
If you’re only planning to use your lease car for the occasional outing – you commute and do the school run in your regular run-around – then extra insurance might not be worth it. However, if you’ll be seen in your posh wheels on a daily basis, then the additional cover may well come in handy at the end of the term.
Keep an eye on your miles
It’s easy to forget how many miles you’re eating up when each one feels like a dream, but each one that’s over your allowance will cost you dearly. If you think you’ll go over your allowance then bump it up a bit, as excess miles are a lot pricier than “legit” ones.