Are you driving a leased VW and wondering what happens to your contract when it expires? Many drivers are unsure about the rules regarding automatic lease extensions. In this article, we will clarify all the important questions about “VW Lease Automatic Extension”.
What Does Automatic Extension Mean in Leasing?
When you lease a vehicle, you rent it for a specific period. When this period expires, the contract does not automatically end. Instead, an “automatic extension” can occur. This means the contract is extended for a certain period if you do not terminate it on time.
Automatic lease extension for VW car
How Long Does My VW Lease Contract Extend?
The duration of the automatic extension depends on the originally agreed-upon contract term. Generally, the contract is extended by the same period as the initial lease term, but for a maximum of 12 months. So, if you leased your VW for 36 months, the contract will extend by another 36 months if not terminated. However, for an initial lease term of 48 months, the extension is a maximum of 12 months.
How Can I Avoid an Automatic Extension?
To prevent your VW lease contract from being unintentionally extended, you must adhere to the notice period. The notice period is specified in your lease contract. Typically, it is three months before the contract ends. Make sure to send the termination notice in writing via registered mail to have secure proof.
What Happens If I Missed the Notice Period?
If you have missed the notice period, you still have the option of extraordinary termination. However, this is only possible in exceptional cases, such as an unforeseen move abroad or sudden unemployment.
What Are the Benefits of Early Termination of the Lease Contract?
Early termination of the lease contract can be useful in some cases, for example, if your life circumstances change and you no longer need the vehicle.
Early termination of VW lease agreement
What Options Do I Have at the End of the Lease Term?
At the end of the lease term, you have various options:
- Return the Vehicle: You return the vehicle to the lessor. Ensure the vehicle is in the contractual condition to avoid additional costs.
- Purchase the Vehicle: You can buy the vehicle at the contractually agreed-upon residual value.
- Enter a New Lease Contract: You lease a new vehicle, possibly another VW.
VW Lease Automatic Extension: Conclusion
Automatic lease extension is an important point that you, as a lessee, should keep an eye on. Inform yourself in time about the notice period and the rules for automatic extension in your lease contract. This way, you avoid unpleasant surprises and can make the best decision for you at the end of the contract term.
Do you still have questions about “VW Lease Automatic Extension” or need assistance with terminating your lease contract? Feel free to contact us – we are happy to help!
