How To Upgrade Your Lease Car

 
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Are you coming up to the end of your current leasing contract and are unsure about the process of upgrading to a new model? We’ve got you covered. You can upgrade your lease car in three simple steps!

 
  • Step one: speak with your provider
  • Step two: compare deals elsewhere to find the right deal for you
  • Step three: return your current lease and choose a new car that suits your needs
 

Ready to upgrade your lease car and want the best deal? Moneyshake brings the market to you, showing you all brands, products and special leasing offers together in one place.

 

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Three easy steps to upgrading your lease car

 

Below is a handy, easy-to-read guide on the process and key dates to be aware of as you creep up to the end of your current lease.

 

Step One: Speak to your provider

 

Once you’re set on wanting to upgrade your lease car, the first thing you’ll need to do is speak with your current provider. As you approach the end of your lease contract, they should contact you around 3-4 months before the end date. This is a simple drop-in to discuss your options moving forward, as well as arranging a collection date for your current vehicle.

Of course the decision is entirely yours, and if you like the sound of the deals being offered by the provider you might feel comfortable dealing with the same people as you did during your previous lease. However, if you aren’t completely satisfied with these options, you are free to explore other options in step two.

 

Step Two: Compare deals elsewhere to find the right deal for you

 

Comparing other deals elsewhere may sound like unnecessary hassle but with sites such as ours it doesn’t have to be. With Moneyshake, simply enter your preferred type of car and we will find the right deal for you based on your budget and other possible filter options.

 
simple leasing wizard tool
 

If you already know the make and/or model of the car you’d like to lease, simply navigate to the manufacturers page and a list of the best deals from over 20 dealerships will be there for you to compare.

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If you are ready at this stage, get started with your comparison today!

 

Fed up with searching for the best deal? Moneyshake helpfs you find the best car lease deals, simplifying your search for a brand-new vehicle.

 

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Step Three: Return your current lease and choose a new car that suits your needs

 

Once you have found the right deal for you, simply enquire with the provider and they’ll be in touch to finalise the details. All that is left to do at this point is have your current vehicle collected, and your new car delivered!

For guidance on the process of returning your vehicle, read our recent guide!

When you lease a vehicle, it is expected to be returned in good condition. At the point of taking your current lease out, the provider may have provided you with a BVLRA Fair Wear and Tear Guide. If not, you can read our explanation of the guidelines.

 

Want to find out your current car leasing or finance situation and how best to change your vehicle? Enter a few details and find out the best way to get into your new car with our Car Change Calculator.

 

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Upgrading your car during the global chip shortage

 
man holding a car semiconductor chip
 

It doesn’t look like the global car semiconductor chip shortage will end anytime soon – certainly not in 2021. This industry-wide issue has meant many delays to vehicle production from manufacturers, forcing people to turn to cars that are in stock.

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If you’re looking to upgrade your lease car soon, we recommend starting your search around six months before the end of your current agreement. Don’t worry if you’re not too sure about what to do and when with regards to upgrading your lease car. We’ve put together a timeline below breaking down key dates for when you’re going through the process of changing your old lease model for a new one.

 

Lease car upgrade timeline – key dates

 

6 months away

 

Check the availability of your chosen car. For factory orders, delivery can take anywhere between 4-6 months so give yourself enough time to make sure you get your chosen vehicle on time.

 

3-4 months away

 

If you haven’t spoken with your provider already, they will contact you to arrange a pick up date for your current vehicle.

 

10-12 weeks away

 

Check your vehicle for any obvious damage and ensure your mileage is within your agreed amount. This gives you plenty of time to rectify any issues you may have.

 

3 weeks away

 

By this point you should be signing your new leasing contract on vehicles currently in stock. This allows for the standard 2-3 weeks delivery time.

 

Can I upgrade my lease car early?

 

If you don’t want to wait until the end of your current lease agreement before upgrading to a new model, you can upgrade early.

 

You’ll need to settle any outstanding finance on your current lease agreement before upgrading to a new car early. This includes any unpaid monthly rentals, excess mileage charges or damage charges (if applicable)

 

Should I choose an in-stock car or a factory order?

 

The time it takes for your new car to be delivered to your door depends on the stock available when you come to order. Cars that are currently in stock will usually have a 3-week turnaround before they are at your door. Cars that are made to factory order will require up to 6 months to be produced before you can expect to be driving away with it.

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Therefore it is important that you have an idea of which car you would like to order so that you can enquire about leasing it with enough time for it to be produced, without leaving you car-less for months!

The process becomes a lot shorter when you select a vehicle that is already in stock at the dealership. The 1-2 days before the order is confirmed is followed by an industry-wide average 14-day delivery time, meaning that you can be driving your dream car in less than three weeks.

 

Want your new car quick? Moneyshake shows you the best car lease deals on in stock vehicles, with delivery as soon as 2-4 weeks.

 

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