What are Excess Mileage and Excess Damage Charges and How to Avoid Them
Your funder can charge you for exceeding your quoted mileage and damaging your vehicle beyond what is considered ‘Fair Wear & Tear’. These […]
March 19th, 2019
Again van leasing contracts are different at the end dependant on lease structure:
1/ Contract Hire – van will go back to the lease company at the end of contract. They will arrange for collection and check condition and mileage. Please note there may be a charge if you are over your contract mileage or there is damage to the vehicle.
2/ Finance Lease –
a/ terminate lease by selling van and settle off any outstanding loan
b/ extend lease – go into secondary rentals
c/ keep vehicle by selling van and terminating lease and repurchase back from 3rd party.
Note:- lessee will receive circa 98% of sales proceeds
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