If you have a Finance Lease agreement, you have three options to choose from:
Extend your agreement
Continue to use your vehicle for a further agreed period in return for a 'peppercorn' payment, equal to one month's rental per annum. Conditions apply.
Sell your vehicle to an independent third party.
Establish a VAT-registered unconnected third party to purchase your vehicle at its current market value (we will appoint you as our agent to complete the sale), and then notify us of their details. An invoice will be raised and upon receipt of the sale price, you'll receive 95% of the sale proceeds.
Return the vehicle and we will sell it on your behalf
Hand back the vehicle and we'll collect and sell the vehicle on your behalf, at auction. You'll receive 95% of the sale proceeds minus our administration costs.
What happens next?
If you nearing the end of your agreement and will be returning your vehicle, here is what will happen.