If you have a contract hire or lease car you NEED to read this advice!

If you have a contract hire or lease car, where the agreement is dependent upon mileage and during the lockdowns you’ve not driven the miles you thought you would, don’t just give the car back at the end of your agreement with less mileage than you’ve agreed with the contract high company because you could save money!

As long as you speak to your provider in good time before the end of the agreement you can actually renegotiate your final few payments to make sure that the higher value of the car (because of the lower mileage) you can have back as a saving on your monthly cost, so speak to your lease company with ideally at least six months to go, they should renegotiate your contract hire or lease payment to a lower figure and you can save money!

For instance, if you have agreed to 40,000 miles over 4 years but only done 30,000 miles, the car should be worth more than their original estimate and what you’ve been paying for.

Paul on TikTok just did this on his Volvo and is now saving £130 a month for the next 6 months!

@paulcowland_

How to save money on your contract hire or lease car if you haven’t done your agreed mileage during lockdown. #carexpert #moneysavingtips #lifehacks #carlease #carfinance #tipsandtricks #carsoftiktok #carsales

♬ original sound – Paul Cowland