What happens to your car at the end of a vehicle lease?
When a leasing contract ends or is terminated, all you are required to do is hand the vehicle back to the lease company whom you acquired it from – they will collect it free of charge and assess its overall condition. If the vehicle is in an adequate state and hasn’t exceeded the pre-agreed mileage, then you won’t be responsible for any additional fees.
Where do used vehicles go after leasing?
When vehicles are returned to the leasing company, they may face a disposal problem if the leaseholder doesn’t want to purchase the car or extend its lease period. The vehicle could remain parked up while it continues to depreciate.
This is why lease companies will choose to dispose of their used vehicles at auction. This then becomes very beneficial for those looking to buy a nearly-new vehicle at a much lower price than you’d find at a dealership. But typically this is what happens at the end of a vehicle lease.
Auctions aren’t for everyone
Some people love the buzz that comes with a car auction – vehicle after vehicle, fast and furious bidding, in a highly competitive atmosphere.
Other people would rather have the time to look over a range of vehicles before making their decision.
Fortunately for those of you who agree with the latter, here at Car Auction Buying Service we bid on your behalf, sparing you the hassle, fast paced and often daunting environment of busy car auctions.
The choice of which vehicles to bid on is left entirely down to you, our job is to guide you, provide valuations, help and advice so that you have an idea of how much the car is worth, and how much it is likely to cost you. We will then bid on your behalf up to an agreed maximum until we are successful ensuring that you do not overspend.
Buying a used car from a car auction
Using our service means that you get access to these ex-lease vehicles that aren’t on offer to the general public or before they have been purchased by dealers and placed on their forecourts with huge margins saving you potentially thousands.
Your bid can be used on whichever vehicles you choose from any that are available, the largest auction group in the UK auctions around 20,000 vehicles every week! Simply let us know which vehicle/s you wish to bid on, what your budget is, and we will take care of the rest.
Why use Car Auction Buying Service
You can get a great deal on a vehicle that will be disposed of through an auction house after completing its leasing period. This means that most vehicles at auctions are in fantastic condition and have been regularly serviced as part of the lease agreement.
By using our service, the process is incredibly easy. You can purchase your dream car with very little effort and minimal expense. Simply check out our how it works guide for more information on how we deliver dream cars to people across the UK.
