Advice on changing a lease car

[andytyc]

I would be grateful for some advice. We got a lease care hire deal on a Nissan Leaf in 2020. It's a 2 year deal which will finish in July 2022 and we plan to hand the car back. This is out first lease car and I was wondering how one organises a replacement to make sure that we are never without a car at any time. My wife and I cannot do without our cars for our work. We are quite keen on another EV on lease for another 2 years. Can one find another deal now from a company (not necessarily the one I'm leasing from at the moment) and stipulate a delivery in July next year? Thanks.

[jon8oy]

Hi OP, yes you can sign up for a new lease now. Given current chip shortages in the cars, amidst other global factors, there are some pretty long lead times for a lot of cars. If you were to go for a VW ID3 this time around, for example, I think they are quoting minimum of 6 months and in some cases this is up to 12 months and more! So, not to panic you, but I'd say it's worth looking now to secure a lease for July.

There are 3 places I go to when looking: LeaseLoco, Leasing.Com, and the Pistonheads Best Leasing Deals Thread.

Best of luck!

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[T1ckT0ck]

Exactly as per jon8oy said. Our VW lease ends April 22 and we just signed up for the next, broker booked the slot and all sorted he said we were wise to get in touch early due to shortages… it’s just a golf too.


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[AndyMilts]

There are a few options, you can find a new deal early and try and get it delivered at the right time. You can send you car back early if the new one is coming early or you can extend your current deal on a month by month basis, if your new car will not be there on time.

I recommend you call your current lease company and have a chat as they will hopefully tell you all the options and costs. It’s more flexible than you first think most lease companies are helpful.

[andytyc]

Really grateful for the advice. I'll be looking at the internet for what's on offer at the moment.

[brucelee]

I also lease and agree with the comments of others, now is a very sensible time to get this sorted.
Deals are looking quite tough at the moment due to lack of new cars being available. I work in the automotive industry and currently the expectation is this won't change until late 2022 at best.
Don't forget that as another option, you can ask for a price for an additional year extension, if you're not so bothered about a new vehicle.

[ptcoll]

My last lease company let me extend by 2 months due to build delays. Given current delays, I suggest you start looking now.

Pete

[pacifichrono]

In the U.S., I've been "trading in" my leased cars for new cars for the past 35-40 years. If the current market value of my current leased car is greater than the early payoff amount, it will lower my monthly payment on the newer car. Of course, I've had a few cars that were "under water" and had the opposite effect. Don't know if your UK lease terms include early payoff provisions like we have here.

Good luck!