One of the most common questions we get from clients is: “When’s the right time to start thinking about renewal?”
Leave it too late, and you risk limiting your options. Go too early, and it can feel like unnecessary admin.
So when is the ideal time to get back in touch? The truth is, it depends. There are a few key factors that can influence your timeline, but we’ve pulled together some simple tips to help you stay ahead and make the process as smooth as possible.
When is the best time to renew?
We generally recommend getting in touch around 3 – 6 months before your renewal date, with an aim to get your order placed within 2 months. That gives us enough time to arrange the collection of your current vehicle and the delivery of your next one, without any unnecessary pressure. It also gives us the best window to source a competitively priced deal that won’t expire or become unavailable before you’re ready to move forward.
One key factor that affects your renewal timeline is whether your next vehicle is already in stock with a supplier or needs to be factory-ordered. Take Polestar as an example: these vehicles are often secured through bulk-buy agreements with major funders like Lex and Arval, which means they can sometimes be delivered in as little as 4–6 weeks. However, if you’re placing a bespoke factory order, you should expect a lead time of around 6 months based on our experience.
What if I am after a more premium, less common brand?
If you’re considering a premium or luxury vehicle, we recommend starting the renewal process around 6 – 9 months in advance. In some cases, less than 6 months may be enough, but with higher-spec models, lead times can vary. That extra buffer gives us more flexibility to secure the right vehicle without compromise.
Porsche and Land Rover are two good examples of brands with longer lead times, so 6 – 9 months is a MUST if you’re considering one.
Can I keep the same vehicle and just extend my lease?
Sometimes yes, sometimes no. It depends on the funder and the vehicle
If you’re looking to stay with the same model for your next lease, that’s usually no problem. However, please be aware that the monthly cost may have changed since your original agreement, depending on current market conditions, this could mean a higher or lower price than before.
If you are given the option to extend your lease, here are a few things to be aware of:
– You may be outside of warranty or MOT cover
– You could be exposed to maintenance or repair risks
– The monthly price might increase significantly
We’ve seen cases where clients extended their lease and were later hit with major repair costs not covered by warranty. If you’re thinking about extending, your Relationship Manager will be able to give you specific advice. As we always do, we’ll also do our best to source the most competitive option available for you.
What does the renewal process look like?
The renewal process is similar to the process when you initially bought with us, with the advantage of knowing a bit more about each other. It’s best to think of the process in 3 parts.
Qualification call: This is our chance to reconnect. During this initial call, your dedicated Relationship Manager will get a feel for what you’re looking for in your next car and how you’ve found your current vehicle. It’s a relaxed conversation designed to get the ball rolling, and to help us prepare properly for the next step: the Fact Find.
Fact Find: Arguably the most important part of the process. This is an opportunity for your Relationship Manager to gather information about you and your needs. This will include some hard facts such as the car you have now and what you did before, but also soft facts including your aims and objectives, what is going on in your life, and what you do and don’t like. You can find out more about our Fact Finds by clicking here!
Quote: With everything we need to know in hand, we’ll create a tailored set of quotes for you to review. From there, it’s over to you to decide which option suits you best, with us on hand to answer any questions along the way.
Don’t leave it too late!
If you remember one thing from this blog, it’s the above statement. Factory lead times, delivery schedules, and deal availability can all fluctuate depending on market conditions.
Give yourself a bit of breathing space and give yourself the best chance of finding the perfect vehicle at the right price.
Based on this information, is it time to renew with us? If yes, then click the button below and we’ll get you sorted!
