The easiest, simplest and cheapest way to get a reduction in your contract hire rate (lease) is to ask the leasing provider to remove the replacement vehicle for you. As you’d expect, if you have an accident or if your vehicle breaks down then a replacement vehicle will be made available for you. Although in almost all cases, this may not be like for like and will be subject to availability.
The cost of a replacement vehicle can range from £15 a year to £100, depending on what it is. This cost is usually based on 3-5 days of usage over 12 months for things like accident repair. So for example, if you were leasing a Ford Fiesta for 12 months on the £15 above, then for the entire year it would cost you an extra £45 to include the replacement vehicle. £15 x 3 days. When you start to pick larger or more luxurious vehicles like a Range Rover, then the £100 (based on the above) would cost you £300 per year.
You can now see why some customers ask for the removal of the replacement vehicle because it’s not a cost that makes sense to them, especially if the customer is a large fleet owner with vehicles they can fall back on.
There are very specific cases, where a leasing company will cost in your replacement vehicle but won’t actually be able to provide you with a like for like replacement. So if you are leasing a 7 seat SUV with a tow bar, they may provide you with a vehicle that will be slightly less capable than the vehicle you originally leased.
Tip: If your vehicle is so specialist that you don’t think the leasing company would be able to provide you with one that’s up to the task, then don’t bother getting a replacement vehicle.
Ask the leasing provider what vehicles they do offer, and have them written into the contract if your vehicle is off the road. If the vehicle they provide isn’t good enough, then ask them to credit your account with the cost of a day’s rental.