End of Agreement
During your agreement you may have questions about what your options are at the end of your contract. Below you will find a breakdown of the various agreement options and what to do when the end is near.
So far you have:
Picked your dream smart car
The deposit is paid and the contract length has been confirmed
Monthly payments have been discussed
You have agreed the Guaranteed Future Value of your car, which is equal to the Optional Purchase Payment (all worked out based on your anticipated mileage during the term of your agreement.)
You have 6 months before the end of your agreement:
Your Maturity Pack has arrived in the post explaining your available options along with a Return Advice Sheet. This will act as a checklist of what you need to do before the end of your Agility agreement. You now have 3 choices:
OPTION ONE: Purchase the smart! - Pay the "Optional Purchase Payment" and "Purchase Activation Fee"
OPTION TWO: Hand the smart back to your Lookers smart Retailer - If you do decide to return your smart ensure you use the checklist supplied and look for any unacceptable damage before doing so. We know how frustrating unwanted fees can be, and they can be easily avoided if the right care is taken to avoid them
OPTION THREE: Purchase and part-exchange for a new smart - The "Purchase Activation Fee" will be debited from your account, make sure you check your agreement under 'other financial information' for information on this
Waiting on delivery of your next smart:
We might be able to extend your agreement until your new smart arrives. Speak to your dedicated Business Manager for more information on this, you can find the retailer numbers on our Contact Us page.
Keep going with your monthly payments until your agreement comes to an end. We will write to you nearer the end date and ask what you want to do.
You have already:
Found your dream smart
The deposit is paid (including the VAT) and you have chosen a length of agreement
The payment schedule has been agreed
6 months until your agreement ends:
The Maturity Pack is on it's way to you, this will explain the options available to you and will also include the Return Advice Sheet. This will act as a checklist of what you need to do before the end of the agreement.
To complete the purchase of your smart, you need to pay the "Optional Purchase Payment" and a "Purchase Activation Fee" which will be taken from your account. Ensure you look at your agreement paperwork under the 'other financial information' section for details on this.
Keep going with your monthly payments and enjoy driving your vehicle.
If you want to get in touch with your dedicated Business Manager or just speak to an advisor about your options, do not hesitate to contact us for further information.
So far you have:
Selected your dream smart
Paid the advance rental and the agreed contract length has been finalised
The monthly payment and annual mileage has been decided
Road Fund Licence for Contract Hire without Maintenance Agreements:
As you have chosen to include Road Fund Licence over the full length of your Contract Hire agreement we will purchase and renew this for you each year.
If the Road Fund Licence cost increases or decreases when it is due for renewal you will be responsible for the increased amount. Where there is an increase or decrease in the payable amount when the first registered we do reserve the right to increase or decrease the amount payable accordingly. We will amend the direct debit payments that you make to reflect this.
6 months until your Contract Hire agreements ends:
Maturity Packs will begin to arrive which contain a Return Advice Sheet. This checklist will assist you with ensuring you have done everything you need to before you return your smart. We will call you to arrange a collection date and carry out an inspection to make sure it meets our Vehicle Return Standards.
Continue to pay your monthly payments until your agreement ends. Nearer the time we will write to you to arrange the next steps.
If you want to find out more about our options available to you, do not hesitate to contact us today.
What you have done:
Chosen your smart car
The advanced rental and contract length has been agreed
Agreed on monthly rental and annual mileage
6 months before your Operating Lease ends:
Your Maturity Pack explaining your available options along with a Return Advice Sheet will be arriving soon. Ensure you use this as a checklist of what you need to do before the end of your Operating Lease agreement.
We will contact you and arrange collection of your smart so we can carry out an inspection to make sure it meets our standards.
For the time being:
Ensure you continue to pay your monthly rentals and enjoy driving your new smart.
What if I exceed my mileage limit?
You'll be able to find out about additional mileage costs written in your agreement, but if you are concerned please call your dedicated Business Manager for more information.
If you want to get in contact with an advisor to discuss your options, do not hesitate to contact us for further information.