When you return the lease vehicle at the end of the agreement, the lender will examine the vehicle for any damage. While “fair wear and tear” is acceptable, if there has been any significant damage or negligence on your part, you may have to face additional fees. Here’s how wear and tear could affect your lease – and the money in your pocket – when it’s time to return the vehicle.

What is fair wear and tear? 

When taking a lease out on a car, it is your responsibility to return the vehicle to the finance company in good condition  as far as possible. The vehicle will be inspected at the end of the contract, and any damage that is found to be excessive wear and tear might incur a penalty so that the damage can be repaired. However, we’re all human and we know that bumps and scratches happen even to the most careful of drivers. 

The British Vehicle Rental and Leasing Association (BVRLA) created a guide as to what constitutes fair wear and tear, although leasing companies may use their own set of wear and tear rules.  

The most common lease repairs include: 

  • Scratches on paintwork 
  • Dents or chips in the bodywork 
  • Burns, rips or holes to the upholstery, mats or carpets
  • Damage to the wheels or trim 

Leasing your next vehicle 

When looking for a car leasing deal, it’s important to consider the details regarding the wear and tear policies so that you know in what condition you need to return your vehicle. Always conduct maintenance as necessary and prepare to return your vehicle in good condition ahead of time. 

Are you concerned about your car finance eligibilityAt My Car Credit, we offer a range of cost-effective car financing options for all different budgets and credit ratings. Give us a call on 01246 458 810 or email enquiries@mycarcredit.co.uk to get started today.  

Rates from 6.9% APR. Representative APR 13.9%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score

Representative Example

Borrowing £7,500 at a representative APR of 13.9%, annual interest rate (fixed) 13.85%, 47 monthly payments of £201.38 followed by 1 payment of £211.38 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £2,176.24, total amount payable is £9,676.24.

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Require more help?

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