What To Do At The End Of Your Agreement - VWFS UK

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Your options at the end of your agreement depend on your finance product. You can find all the information you need below. 

Solutions PCP

• Solutions PCP
• Hire Purchase
• Lease Purchase
• Contract Hire
• Finance Lease

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At the end of a Solutions Personal Contract Plan (PCP) agreement you have the choice of 4 options: 

1. Hand your vehicle back 

If your vehicle has significantly depreciated or you no longer wish to drive it, you can simply return it to us and pay the £10 option to purchase fee. This is subject to being within BVRLA wear and tear guidelines and if there is any excess mileage, then charges will apply. 

Your local retailer is on hand to help you through the whole process, ensuring a smooth transition from your current vehicle into your new one. You can contact them using the links below:VolkswagenAudiSEATŠkodaVolkswagen Commercial VehiclesPorscheBentley

2. Exchange your vehicle for another one

You can trade your old vehicle in for a new one.  Your old vehicle is sold back to the dealer and is used to pay off your optional final balloon payment. Any money left over can be used as a deposit on your new vehicle (subject to application and approval).

3.Keep the vehicle

Alternatively, you can become the proud owner of your vehicle by paying what is left (optional final balloon payment + £10 option to purchase fee).

4. Refinance

If you would like to keep the vehicle, without settling the optional final balloon payment, you may be able to refinance the outstanding amount. Just ask your Retailer for more information.

For any help or advice on these options, your local retailer is always on hand to support. 

Whichever one you choose, please contact us as soon as you know to ensure that we have adequate time to address your preferred option and avoid applying for your Final (Balloon) Payment by Direct Debit unnecessarily.

If we do not hear from you we will automatically collect the balloon payment and option to purchase fee and close the agreement. 

PCP damage charges guides can be found below:

Audi PCP Damage Guide

Volkswagen PCP Damage Guide

SEAT PCP Damage Guide

Škoda PCP Damage Guide

Volkswagen Commercial Vehicles PCP Damage Guide

Porsche PCP Damage Guide

Bentley PCP Damage Guide

CUPRA PCP Damage Guide

When your Hire Purchase agreement comes to an end, you have two options: 

1. Keep the vehicle

 You can pay a one-off option to purchase fee of £10 and become the proud owner.

2. Exchange your vehicle for another one

You can part exchange your vehicle for another vehicle.

At the end of your contract you have the following 3 options: 

1. Keep the vehicle

You can pay a one-off option to purchase fee of £10 as well as the final balloon payment and become the proud owner.

 

2. Exchange your vehicle for another one

You can trade your old vehicle in for a new one. Your old vehicle is sold back to the dealer and is used to pay off your final balloon payment. If the vehicle is worth less than final balloon payment, you must cover the shortfall. Any money left over can be used as a deposit on your new vehicle (subject to application and approval).

Your local retailer is able to discuss all of your options, and get you into a new vehicle: 

Volkswagen

Audi

SEAT

Škoda

Volkswagen Commercial Vehicles

Porsche

Bentley. 

3. Refinance

If you would like to keep the vehicle, without settling the final balloon payment, you may be able to refinance the outstanding amount. Just ask your Retailer for more information. 

Once you have paid all outstanding rentals, you simply hand your vehicle back, subject to fair wear and tear and excess mileage charges. 

And if you’re ready to replace your vehicle and want something sooner, visit VWFS DRIVE where we have vehicles that are in stock available on contract hire. Order your next vehicle online today.   

Inspection and Collection Process

When your agreement comes to an end, your vehicle will undergo an end of contract inspection by our collection agents. 

Our collection agents will attempt to make contact with you 6-8 weeks before the end of your agreement to arrange a convenient time to inspect and collect your vehicle.

Their trained inspector will inspect your vehicle in line with the British Vehicle Rental and Leasing Association (BVRLA) Fair Wear & Tear Guidelines, a copy of the guidelines can be found below.

Fair Wear and Tear Guideline (BVRLA Industry Standard)

The inspector will record any damage (and cost of repair) that falls outside of the guidelines and you’ll be asked to sign to confirm your acceptance of the inspection report. 

RCH damage charges guides can be found below:

Audi RCH Damage Guide

Volkswagen RCH Damage Guide

SEAT RCH Damage Guide

Škoda RCH Damage Guide

Volkswagen Commercial Vehicles RCH Damage Guide

Porsche RCH Damage Guide

Bentley RCH Damage Guide

CUPRA RCH Damage Guide

On the day of inspection, please ensure that:

• The vehicle is clean, inside and out.
• You have all the relevant documentation to hand supplied with the vehicle (user manual etc.)
• You return all equipment supplied with the vehicle (e.g. spare key, satellite navigation memory card, spare wheel, parcel shelf etc.)
• Your vehicle needs to be taxed, insured, and have a valid MOT up until the point we collect it from you. 

Getting damage fixed 

To make your end of contract process as smooth as possible, we will inspect and collect the vehicle on the same day. If you want to get any repairs done to your vehicle before the collection process you will need use an authorised VWFS repairer to ensure it meets the expected standards and avoid you being charged twice. Your retailer will be able to sign post the best repairer for you. 

Extending your contract

It is possible to extend your agreement by up to 12 months. This is based on the same terms you are currently on and you would be given an additional mileage allowance proportionate to your current agreement. You can request an extension here.  

Buying your vehicle

A Contract Hire agreement comes with no option to own the vehicle. However after the agreement has ended, our agents at British Car Auctions may offer the vehicle for sale. To find out more you can contact the BCA Driver Sales team at 01625 417991 or visit www.purchasemyvehicle.co.uk.  

VWFS Drive

Find your next Contract Hire vehicle online today

Start your search online today and visit VWFS DRIVE. Owning a car isn't for everyone, so why not lease one? Our Contract Hire product allows you to lease a vehicle anywhere from 12 - 48 months.

We have no hidden fees - put simply, what you see is what you pay. Our Contract Hire product is simple and easy to understand, we won't overcomplicate things and we partner with the best car brands in the world, so you'll be spoilt for choice.

We also understand that you might want your vehicle sooner, which is why some vehicles are ready to go! You’ll also have the support of our dedicated finance team on the phone if you have any questions.

SEARCH DRIVE CONTRACT HIRE VEHICLES

Selling your vehicle

With a Finance Lease agreement you are required to sell the vehicle to a non-financially related third party at some point during your agreement and the process of doing this must go through us.

If the vehicle is sold on for greater than the figure required to settle your finance, you will receive 100% of the excess, however if there is a shortfall we will invoice you for the difference.

You can obtain the current settlement figure here.

Once you have found an independent 3rd party to sell the vehicle to please click here to obtain a sales invoice. Key information to note: 

• Invoices take 48 hours to be generated and will be issued to the third party directly. 
• Payment for the invoice should be made to us directly (bank account details are included in the invoice) and upon receipt of this we can then look to terminate the agreement. 
• If the invoice amount exceeds the outstanding finance, you will be sent 100% of the proceeds however should there be a shortfall we will invoice you for this separately

Extending your agreement

At the end of your agreement you do have the option to fall into your ‘secondary hiring’ period. If you are on our Finance Lease Balloon product, the balloon must be paid in full by yourself. The secondary hiring period consists of an annual rental (also known as a ‘Peppercorn’ rental) for a maximum of 5 years. The vehicle can be sold at any time during the 5 years secondary hire period, this must again be to third party.

Finance Lease Balloon only

If you do not wish for us to bill the balloon amount from your account on the end of contract date, you need to request a sales invoice at least 2 weeks before the end of contract date.  

You also have the option to extend on a short term basis providing the balloon has not billed. If you would like to explore this option, please contact the team on FinanceLease@vwfs.co.uk.

Your local retailer

Your local retailer is there to support you through the end of contract process. You can get in contact with them below: 

Volkswagen;

Audi; 

SEAT; 

Škoda;

Volkswagen Commercial Vehicles;

Porsche;

Bentley. 

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