How is the end of car leasing going?

Individuals prefer car leasing because this formula provides more flexibility and ease in car financing. Whether it is a lease to buy (LOA) or long term lease (LLD), the end of the lease is always strictly controlled. The lease details the procedure and the important points to look out for at the end of the lease.

End of car leasing: important points to refer to

Have you entered into a rental agreement with the option of buying a new or used car, and is your agreement approaching its expiration date? How does it work? Under the LOA, you have two options: exercise your right to buy and take ownership of the car by paying the residual value, or return it, which balances the funding, and start over.

If you choose the second solution, you will have to return the vehicle to the service provider on the appointed date in an aesthetic and mechanical condition equivalent to that of the beginning of the lease. The vehicle must be regularly serviced (maintenance log and inspection reports to support it) and its equipment must be in perfect working order.

Careful protocols are drawn up by your service provider's staff. He notes the condition of the interior (seats, interior doors, dashboard, equipment) and its cleanliness, the condition of the body (impacts, deformations) and paint (scratches), the condition of side protections, bumpers, mirrors. , the condition of the windows (windshield, rear window, side windows) and wipers, the condition of the signal lights and, finally, the condition of the wheels (wheels, tires, hubcaps, spare wheel). The engine is also checked to make sure there is no wear and the need to replace any parts.

Your service provider will finally check how many kilometers you have driven. You must not exceed the mileage package set when concluding the car rental agreement, otherwise additional kilometers will be added to the costs (additionally from 5 to 10 cents per kilometer). It is advisable to adjust the number of kilometers during the commitment period to suit your needs rather than paying an overrun at the end of the contract.

If no anomalies are found, the lease terminates immediately. If any problems are found during inspection, repairs are initiated by your service provider. Termination of your car lease does not take effect until you pay the cost of repairing the car. Please note that you can always dispute the results of the examination, but in this case, the cost of the second opinion is borne by you.

Registration certificate, warranty cards and maintenance books, user manuals, keys, of course, must be returned with the car.

Terminating your car rental made easy with Vivacar

This platform offers you security with its complex leasing formulas used. After the lease expires, and if you choose not to use the buy option (as part of the LOA), you simply have to leave your vehicle at the partner's dealership on the scheduled expiration date. Vivacar will take care of your car and carry out a thorough inspection and, if necessary, even repair it. Your service provider will take care of bringing it back to the used LOA market.

If you've signed up for the extended mechanical warranty and maintenance services offered by the financial platform, your regularly serviced vehicle should go through a detailed platform inspection with no problems.