Extending car business lease, price goes up??
Discussion
So, our Model 3 is due to go back at the end of the lease in March next year.
We did 12 +35 for the lease and it's been fine, through a Ltd company and all the benefits that brings.
I've asked to extend by 12 months, and apparently the lender works the extension on the equivalent payment of 1 +35 (ie higher amount) and then has a tiny discount.
What this means in real terms is that the monthly amount has gone up! Despite the fact it's a 3 year old car... We did something similar on our i3 lease and the extension was a lot cheaper, as we've already funded the deprecation.
Is this usual? I'm not sure if I want to stomach sinking even more into a lease, and if to just buy through the business instead? Anyway, ultimately I was surprised that it went up, and wondered if that is a usual thing?
We did 12 +35 for the lease and it's been fine, through a Ltd company and all the benefits that brings.
I've asked to extend by 12 months, and apparently the lender works the extension on the equivalent payment of 1 +35 (ie higher amount) and then has a tiny discount.
What this means in real terms is that the monthly amount has gone up! Despite the fact it's a 3 year old car... We did something similar on our i3 lease and the extension was a lot cheaper, as we've already funded the deprecation.
Is this usual? I'm not sure if I want to stomach sinking even more into a lease, and if to just buy through the business instead? Anyway, ultimately I was surprised that it went up, and wondered if that is a usual thing?
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