Great stuff. You've ordered your brand new lease vehicle and it'll arrive when it arrives.
But suppose circumstances change and you actually need more or less miles than what you initially agreed to? And how about adding a personal number plate?
We'll run you through what's possible and about the kind of leeway you have when it comes to your contract.
Can I Change My Lease Order?
The good news . . . it is sometimes possible for you to change certain aspects of your order. For example, the optional spec on your vehicle.
Phew.
The bad news . . . this can sometimes depend on the specific leasing company and what stage your order is actually at. Generally, you're best requesting any changes within the cooling-off period of your lease agreement, which usually lasts 14 days from the moment you sign it or the day after you receive the vehicle – whichever comes later.
Cooling-off period expired? Not to worry. We would still recommend reaching out to your leasing provider in any case and see what's possible, though there may be a fee involved if they agree to make any changes.
Can I Add More Miles?
Yes, or remove miles. It usually isn't too much of a problem.
You'll need to request a mileage extension to your leasing company.
If they accept, just be aware that your monthly payments will likely change as a result.
Or . . . Plan B: pay the excess mileage at the end of your agreement, which is usually charged on a pence-per-mile basis and can sometimes actually work out cheaper than changing your contractual mileage.
Can I Cancel My Lease Early?
Sure can, and if you request it within the cooling-off period of your lease, you'll get off scot-free without having to pay a penny.
You can still cancel your lease after your cooling-off period ends, but you'll likely have to pay an early termination fee in order to do so. This will generally consist of 50% of your remaining monthly payments – so the closer you are to the end of your lease, the cheaper it will be.
In either case, simply notify your leasing company and follow any relevant cancellation instructions outlined in your lease agreement.
Can I Add a Personalised Number Plate?
You bet.
But because the vehicle isn't technically yours, you will need to get permission from your provider first.
If they're happy, they'll then require some paperwork from you involving either a V778 or V750 form (don't worry, they'll explain what both of those mean).
Fill that out, send it back, and they'll then pass it on to the DVLA – after which you can customise that number plate to your heart's delight.
Can I Add Another Driver to My Insurance?
Yep.
In insurance terms, this is what's known as a named driver or an additional driver.
Just make sure that the leaseholder (the person whose name is on the lease contract) is classed as the primary driver when it comes to the insurance.
FYI . . . insurance isn't included in the lease cost and, yes, you will need it!
Do I Need to do Anything Before Delivery Day?
– Get your insurance sorted
– Keep your phone on. The person responsible for delivering your vehicle may try to contact you
– Have your ID ready for them (your passport or driver's license will normally be enough)
– Try to make some room for the delivery if you live on a narrow street or one that's chock-a-block with parked vehicles
How Will My Vehicle Get Here?
Driven carefully straight to you by a designated driver from the provider. Or it will be transported to you on a lorry or truck.
Either way, it'll get to you in one piece.
What If the Vehicle is Faulty?
Your lease comes with the manufacturer warranty, which will cover you for at least some of the term and pay for any mechanical faults upon delivery. Contact your leasing company in the first instance.
If you notice any cosmetic damage (e.g. scratches, scuffs) which doesn't look like it could be classed as fair wear and tear ('natural' damage that occurs over time), then again, contact your leasing company.
Better yet, point it out to the person delivering your vehicle. Consider taking some photos as well.
When is My First Payment?
Your initial rental or upfront payment will normally be taken 7-10 days after your vehicle is delivered, though different providers may have slightly different policies.
As for your regular monthly payments, the first one will be due a month after your vehicle is delivered.
What if the Car Arrives Before I Need It?
Contact your leasing company to ask if:
- Delivery can be postponed
- Storage can be arranged (sometimes for a fee)
- The lease start date can be delayed if you haven't signed off yet
If you're storing the vehicle yourself, you will still be paying for the lease even if you're not using it.
As a last resort, you could also cancel the lease.
Best thing to do is try and arrange a specific delivery date that suits you beforehand. Some leasing companies may be quite flexible with delivery dates. Some may not.
Summary
At the end of the day, leasing is a positive thing, but you do have some leeway when it comes to your contract if you need to change something. The two things you absolutely must do in the run-up to receiving the vehicle are arranging insurance and being prepared to receive delivery on the day it's due to arrive.