Had our letter from Kia finance advising 6 months until our lease is up.
We usually return cars after three years as that's when the warranty expires, but obviously not the case with Kia.
The wife is keen to keep it, especially if Kia will do us a deal on the monthlies.
I've emailed them to ask, but god knows when I'll get a reply.
It's currently £286 a month, I'm happy to keep it if they come down to something like £220 a month.
Just wondering if anyone here has done this before?
Lease.
I could buy, but in my experience lease companies tend to ask over the odds compared with the market.
Which is bizarre, as they then just put them to auction and accept what they can get for them on that day.
I've dealt with company and private leases for decades, I can only think of one occasion where the lease company insisted it be returned.
It's a bit of a myth that lease cars 'must' be returned.
Effectively, the only real-world difference between PCP and lease is that the figure needed to buy the car at the end is known in advance with PCP.
Kia finance have replied, surprisingly saying they have no facility to do a formal extension.
Only an informal one, which basically means keeping paying the monthly amount on a month-by-month basis.
Not interested in that, not paying XXX per month for a three year old car when the same figure will get me a new one.
And certainly not interested in buying it.
In my case, it's a lease site called Ling's cars that organised it.
I needed one quickly, from first contact to delivery was 2 weeks - and that was in the trim and colour we wanted (3 trim, red).
But the agreement and payments are direct with Kia contract hire.
What I like is when you start an order with her, you get sent a link to a dedicated folder created by them.
Any additions to the order, you get notified by email and you can access.
Any documents you have, you upload them to that folder.
It's nothing new in general business terms, but it's not something I've come across in years of using other lease companies and makes dealing with them very easy.
I've been aware of her since her Dragons Den days - nice to hear that you've had a positive experience, I'll consider that site once my current lease is up
Unfortunately, I'm a high mileage user, did my last deal in November 2019, 4 years at 27,500 miles a year on a Tucson Premium SE - costing me over 400 quid a month. I've just been furloughed . Spoke to Arval (who hide themselves as Hyundai) and they are looking at rolling on anything that I need to postpone. Had great service from them with the Tucson I contracted in September 2019
They maybe refer to it as PCH on their website.
Most manufacturers do push PCP a lot harder than PCH or lease though.
I've no idea why, really, they are to all intents and purposes the same thing.
If you have any updates on how things went back in the day, feel free to share. Many folks find these discussions helpful when making similar decisions.
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