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Apologies if posted already but is anyone else wondering about this?
With the restrictions, many will be handing cars back with unused mileage which they have paid for.

I suppose leasing companies will just say hard luck but has anyone discussed this with their lease company already and what came of it?

Wondering if mileage can be renegotiated so we are not paying for miles not used. I know it's an educated guessing game anyway when you sign up but I wondered all the same.
 

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To honest, whilst I get that people might feel aggrieved they won’t be using their miles ‘paid for’ due to being asked to stay home, it’s hardly the lease companies fault either.

I think it’s one of those things that people should just chalk up to experience, and whilst I don’t want to get a violin out for lease companies they’ll probably be taking a bath on residuals for a while anyway.

If you come out of this with your health, wealth and job intact, then I think you should be pretty pleased.
 

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Zoe Devotee
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Do you get refunded for credit not used on your mobile contract? Nope!

Soon as the restrictions are lifted we will see millions of motorists out enjoying a quiet drive with all the other millions of motorists, shortly followed by everyone complaining how busy roads were.
 
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SWMBO is an anaesthetist, so she's probably going to go over her mileage limit once things get really bad and she's in every day. I wonder if they'll offer her a refund
 

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My leasing company allows a change to the scheme mileage during some portion of the lease (something like "any time except the first or last 4 months"), but they only allow it to be increased so this wouldn't help in this circumstance.
 

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evezy referral code d6540
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SWMBO is an anaesthetist, so she's probably going to go over her mileage limit once things get really bad and she's in every day. I wonder if they'll offer her a refund
My vehicle provider is offering free mileage overages for key workers so might be worth you asking your lease company.
 
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Mine goes off lease tomorrow, 3 months earlier than it should following me requesting early termination two weeks ago. I have to pay for one more month, so a 50% saving (due to paying a month in advance) on a parked EV, its only done just of 18K of the 24K as agreed over the 24 months of the lease, so it should be a decent seller once auctions open up. Interestingly the lease company are covering insurance of the vehicle from tomorrow until they are available to collect it
 

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Clearly lockdown boredom’s setting in for some🙄
Step away from the keyboard😂
Yeah, but I wonder how much revenue has been lost from people SORNing their cars or deferring things like insurance and tax until this thing blows over?
 

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Clearly lockdown boredom’s setting in for some🙄
Step away from the keyboard😂
Yeah that was a garbled mess.What I was trying to say was:

I managed to cancel my lease early (barely need one car let alone two the next few months) it was due to end in July. This has saved me a month of lease payments.

It’s done 18/24K i was allowed, they aren’t giving me any money back for this (see I had a point to jumping into this thread) as part of the settlement figure.

The lease company obviously can’t collect the car so have asked me to hold onto it, not drive it, and they are insuring it from today until they can collect.
 

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I'm not crazy, the attack has begun.
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SWMBO is an anaesthetist, so she's probably going to go over her mileage limit once things get really bad and she's in every day. I wonder if they'll offer her a refund
[#light bulb]

Could leasees club together and 'trade' excess miles for unused miles with each other? :)

I will be around 8,000 under 30,000 partly due to circumstance changes and a little bit because of this. I was always a ~12.5k ish a year and as we all know, one usually does a little more than expected than a little less.

Anyway, to have selected 20,000 instead of 30,000, I have noticed, lease companies usually charge around 50% extra at time of lease than the excess miles, so I 'will' effectively have paid for 4,000 miles, at excess rates, more than necessary, but if I had gone for 20k then I 'would' have paid for 2,000 excess, so the difference 14p/mile x 2,000miles = £280 'over-paid'. But at 14p/mile (high rate on the Soul) I didn't want to risk finding myself 10k over!
 

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Yeah that was a garbled mess.What I was trying to say was:

I managed to cancel my lease early (barely need one car let alone two the next few months) it was due to end in July. This has saved me a month of lease payments.

It’s done 18/24K i was allowed, they aren’t giving me any money back for this (see I had a point to jumping into this thread) as part of the settlement figure.

The lease company obviously can’t collect the car so have asked me to hold onto it, not drive it, and they are insuring it from today until they can collect.
It’s considered highly unusual, or actually even impossible to end a lease early without having to pay for the full term of the lease, so I’d feel very lucky to have just lost a few paid for miles!

May I ask which leasing firm/funder it Is?
 

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It’s considered highly unusual, or actually even impossible to end a lease early without having to pay for the full term of the lease, so I’d feel very lucky to have just lost a few paid for miles!

May I ask which leasing firm/funder it Is?
Drive Electric were the broker, Lex Autolease is who the Kia is leased through as the financier. I was advised that is was quite common to do this and expect to pay 50% of any remianing lease payments (From recoloection this is after you've covered a mimium 50% of the duration of the lease). Normally you wouldn't do this but in the present known lockdown it makes a lot of sense. I may have been lucky that I got my paperwork in before we were in lockdown (just shy of two weeks ago). So Lex may have been honouring that and I can't guarantee that they haven't changed their policy, but for anyone with a lease ending in the next 6 months and two cars I'd suggest contacting your lease provider and seeing if they would do an early cancellation and what are the penalties. Can't do any harm to ask, and it may save people at least a bit of money while we are in these uncertain times.
 
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Thanks for the suggestions. We own the car but lease the battery, and I assumed we were talking about the battery lease. D'oh!
 

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Yeah, but I wonder how much revenue has been lost from people SORNing their cars or deferring things like insurance and tax until this thing blows over?
I sorn'd my toys at the end of March. No point cancelling the insurance - they could still get pinched!

As for getting refunded on unused phone allowance... Smarty refund for unused data.
 

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For the most part this is why I always go one rung under the mileage I think I'll use when taking out a lease, as usually if you are shopping for a good deal the excess mileage only costs slightly more than paying it included in the monthly payments, and if you are very lucky less. Usually just set up a standing order for the £10, 20, 30 per month difference into a different account so there are no large(ish) bills at the end. Sometimes you don't get charged for overages either!
Obviously no one predicated this sort of event, but maybe it will make people look more closely when committing to a monthly outgoing that can be reduced.
 
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