vRS, End of Lease options

[Turkleton]

So my lease with Horton Skoda is going to be up this year on my 17' plate vRS. What are my options likely to be? Obviously handing it back will be the default, but are they likely to offer me another year or the option to buy? Will the prices increase per month?

 

I have never leased before this one so no idea what VWFS are likely to do. Id like to keep it another 12 months but only at the same price/lower payment. Even buying would be an option depending on what its worth....

[Swirly182]

I seriously doubt it would increase. My sister has extended hers and the monthly payment decreased. 

 

My plan is to extend the current 2 year deal, hopefully pay less for the final year then buy it back after the third year. A dirty, uneconomical petrol Skoda estate should have depreciated nicely by then.

 

All dependant on VWFS obviously. 

[maffyou]

You’re very unlikely to be able to buy it on a lease. 

 

If you want want to extend it just contact your finance company and ask. They’re usually open to this. Generally the prices go down as you’re effectively paying the depreciation of the car, so after two years the car is worth less and will depreciate more slowly. 

[Swirly182]

End of lease buy back isn't guaranteed. Why do you think it's very unlikely though? 

Edited 29 April, 2019 by Swirly182

[Turkleton]

Mines a diesel so would have thought they would have wanted shot of it to be honest. 

[AllanDJ]

Most of these lease deals are through Volkswagen Financial Services and your local dealer will supply the car to you on their behalf. There is usually an option to extend the deal up to another year but your monthly payments can increase as well as decrease for this, which seemed to be the case at the end of my two year PCH deal on a Yeti recently which would have increased quite a lot per month if I'd kept it for a third year, maybe because by that time the Yeti was an obsolete model. Regarding buying the car, that is actually an option too, although the way that works is that you can't actually buy it directly, a friend or family member could buy it on your behalf. You should be able to request a buying price from them to see if it makes any financial sense.

[Liggy]

I leased my vRS through Horton and I bought mine off VWFS at the end of the lease. Its actually BCA 're-marketing' that process it, not VWFS directly. You can enquire at any point in the last couple of months for a price to purchase and its calculated at that point i.e. gets cheaper the later you leave it.