Only halfway through my current 3 year PCH (Contract Hire, or "Lease"), purely out of interest I phoned Skoda today to ask the implications of extending it when the time comes to hand it back. I was informed that just one period of 12months only could be granted, the monthly payments compared to now could go up  (?!?) or down depending on market value, but the road tax & breakdown cover would be included although I would obviously be responsible for the MOT. I had been hoping for at least a 2 year, possibly 3 year extension because I like the car so much, but will probably go for another new car PCH deal when the time comes - I was hoping to keep this super reliable car which has all the bells n whistles I could ever want, although I suppose in the current climate, an electric model might "float my boat" in due course.

You’ll get a full list of options when you approach the end of the lease period.

 

My letters arrived recently, 2 months exactly from end date.

 

BCA will offer it for sale.  This saves them a lot of hassle inspecting, collecting and selling on.

 

My Buy It quote pretty much matched We Buy Any Motor dot Guv.

 

VWFS don’t care, it’s all with BCA to get rid of the car.

 

However, VWFS will offer to discuss various extension options. None of them cheap, because the car will now be wearing out all the parts that were designed to last 3 years.  Servicing will increase for subsequent years.

 

You’ll guess I’m handing my car back.

I extended my 2 year lease to 3 after about 15 months. I also increased my contracted mileage to 15k pa from 12k pa. The payments for the extra year will be £70 approx less per month. I have a no maintenance PCH.

Edited 19 February, 20206 yr by Luckypants

There's no way I'd lease an out-of-warranty car. Sure the risks of some sort of catastrophic failure might be smaller these days than they used to be, but if the worst happened you'd be liable for it.

For me the best part of leasing are knowing exactly what my servicing costs will be, and not worrying about MOTs (plus choosing and driving a brand new car every couple of years obviously). If you want to keep a car for five or six years you'd be better off buying outright or maybe taking a PCP. If you really like the car at the end of the lease there are ways of buying it from VWFS (although they are not supposed to sell it direct to the lessee).

 

Thanks for the input - as I said, I enquired purely out of interest (nosey !!) but the confirmation of implications and thoughts generated above have convinced me to hand it back & get a new lease at the contracts end.