Edmund`s central council? Leasing may not be everyone`s business, but it offers more flexibility than people might expect. Make sure you know all the options you have and think about your plans before the lease ends. If you fall in love with a car during your rental contract, another possibility is to rent it again at the end of the contract term. The main difference is that if you originally rented a new vehicle, the new leasing applies to a used vehicle. Auto Trader notes that leasing a used car has some advantages and disadvantages compared to leasing a new car. Their monthly payments are usually lower due to the amortized value of the car. Familiarity with the car and how it works are psychological benefits. Rental fees or interest charges for a used car are usually higher, as the owner sees a higher risk for used vehicles. Despite your good faith in the car, re leasing your vehicle will not reduce your costs compared to renting another similar used vehicle.
Print the agreement on the normal document, sign the modification agreement and return the documentation to the address provided in the email. To help you understand the options available to you, nationwide vehicle contracts explain the different types of contract renewals as well as the criteria, fees, and process for renewing your lease, also known as contract renewal. Do you have a question about renewing your lease? Call our rental specialists on 0345 811 9595 and select option 2 to discuss the options you have. I`m thinking of an extension, since I`m now in a 2018 Elantra and would like to wait for the launch of the 2021 Elantra. I spoke to Hyundai Motor Finance today and they said my payments would increase because of the Revenue TAX. Didn`t I pay VAT in advance? Why would an extension increase my payments by 20+ per month? Can anyone see clearly? Thank you very much! – Nicolette (email@example.com) Hello Paolo, quite simply, the answer is yes. We recommend that the process can take up to 4 weeks from start to finish, so please note this if you contact us. We generally recommend taking a period of about 4 weeks for processing a lease extension. Normally it will be much faster, but it`s worth going back 4 weeks to make sure you don`t have a period without transportation….