End of Contract Options (Audi A5 - 20 plate)

[rootcoors]

I originally posted this here: https://www.pistonheads.com/gassing/topic.asp?h=0&...
- But thinking I maybe should have put it in this area (apologies).

My agreement ends in November, and I've just had a letter through regarding the end of contract options.

With the current climate I am considering extending as I believe it will keep the same price I pay now - which is considerably less than what the lease figure for the car would be if I changed it. Plus as we know stock is a bit of a nightmare still.

I just wondered if anyone else has extended previously and if you are given term length options or is it set? Also is it a pretty straight-forward process to go through to put it in place?

And advice or experience comments would be appreciated.

[jdoubleu]

I assume it could be different for different lease providers but when I needed to extend a contract through ALD they were happy to just do it on a rolling month basis. I think it was at identical monthly and pro rata mileage allowance as I already had. Ended up extending by 3 or 4 months then arranging collection when it suited me. All very simples

[rootcoors]

jdoubleu said:

I assume it could be different for different lease providers but when I needed to extend a contract through ALD they were happy to just do it on a rolling month basis. I think it was at identical monthly and pro rata mileage allowance as I already had. Ended up extending by 3 or 4 months then arranging collection when it suited me. All very simples

You could be right to be honest - that is good that with ALD you was able to do that, makes things very flexible indeed.

My Audi is through Audi Finance (VWFS).

[Canon_Fodder]

I've extended a couple OP...

BMW/Lex was just rolling for 6 months at the same cost, zero admin (that was super useful to me at the time)

DS3 / ALD was a formal 1 year extension (re-sign the contract) at 5% more money

Also tried to extend a Megane Coupe (Alphabet) but they wanted £100 per month more, so I declined

[AliMc99]

From memory VWFS allow you to extend for up to 3 months on an ‘informal’ contract on your current monthly rate- you can also extend (for I think up to an extra year) with a formal extension- they may or may not put the price up however. If you go for a formal extension and you’ve ordered another VW group car as a replacement they tend to treat you more generously (more likely to keep to your current payment). If you phone them I’ve found them helpful in the past.

[Stephen-0jlhl]

I've currently got a VW Arteon which I extended formally for 6 months in March. I was lucky that the monthly dropped from £342 to £273. I did however agree to 15000 miles per year at the start of the contract, but due to Covid I ended up doing 18000 in 2 years, so this may have helped. I've also got a Skoda Kodiaq on order which has an estimated build date of mid September. My extension will run out by then, so will be extending informally until I get the Skoda.

Hope this info helps?

Steve

[rootcoors]

Just to update...

I've had a formal offer letter to extend for an additional year.

Changing the mileage from 20,000 to 30,000 - which makes sense as that's 10k a year, same as current contract.

Price changes from £304 to £246 for those 12 months.

Well happy with that.