Vehicle Leasing - annual mileage allowances and amending your contract
Are you worried about what annual mileage allowance to choose and how it might affect you if you get it wrong?
What do you do if you know you are going to be under or over your agreed mileage allowance?
Unfortunately, there are no refunds or credits for any mileage that is under your agreement at the end of the lease, but there are excess mileage charges to pay if you go over your mileage allowance. Not everyone is aware that you can request a quote to amend your vehicle lease agreement during the middle of a lease. We make a point of mentioning this to our customers right at the beginning.
Once you have completed the first 6-12 month's worth of motoring during your lease you will have some real mileage data to work with. If you have underestimated or overestimated your mileage at the start of your lease or your circumstances have changed, and you expect to cover more, or less miles. Then you can then request a quote for what is known as a 'contract mileage amendment'. This facility is available to both Business and Personal lease customers and is available for both Cars and Vans.
If you need to consider a contract mileage amend, we can help and guide you to obtain a new quotation to increase/decrease your mileage allowance for the rest of the term. The new monthly rental will increase/decrease accordingly for the balance of the contract, but this would be more cost effective than paying the excess mileage penalty at the end. Please be aware that a contract mileage amendment is not possible to do if you have less than 6 months of your lease agreement left to run.
There have been numerous occasions when I have informed potential new clients about this facility and they have commented with "I wish I had been made aware of this before, my previous supplier never mentioned this, and I have had to pay considerable excess mileage charges in the past".
If you would like to know more about contract mileage amendments, please do not hesitate to contact Paul O'Leary directly on 01484 866218 or use our easy to use contact us button below: