With business or personal contract hire, when your contract is finished, you simply hand the vehicle back. If you have looked after the vehicle correctly and not gone over your agreed contract mileage, you will not be charged. In the aim of full transparency, we want to make you aware of charges you may be liable for at the end of your electric vehicle contract.
There are three things you may be charged for at the end of your contract hire agreement:
We accept there is going to be some minor damage to your vehicle at the end of your contract – that is okay, it’s inevitable. However, there is a limit to this damage, this is called fair wear and tear. The British vehicle rental and leasing association set the rules on this. Fair wear and tear is defined as “acceptable deterioration that occurs on the vehicle during normal usage over the contract period”. You can find their guide, detailing what is and isn’t acceptable below:
Another reason you might be charged at the end your contract would be improper use of the vehicle. This could include things like missing keys, charging cables or locking wheel nuts. Not stamping or losing your vehicle servicing book and more. You will be charged, and your vehicle will be refused collection if your MOT is not valid at the end of contract.
It is up to you to advise us on an accurate annual mileage for your vehicle contract. You need to choose one that is realistic, or you will be charged for excess mileage when you hand your vehicle back. If you are mid-way through your contract and realise that you are going to exceed your mileage allowance, please contact us to amend your contract. Contract hire agreements are flexible and this is common. If you leave it too late however you may rack up hefty charges so please get in touch as soon as possible.
End of contract charges should not put you off leasing a vehicle. We have dealt with thousands of happy customers over the years. The rules are fairly straight forward, with a little bit of care and common sense you shouldn't be charged anything at the end of your contract.
Please Note: This list is not exhaustive it is up to you to check your contract information at the point of ordering your vehicle.