Extending your lease contract

Questions and answers on lease extensions

What does it mean to extend a contract? An extension of a contract extends the length of the contract already in force. This allows you to continue using your current car for longer and potentially save costs.What are the benefits of extending my lease?  Extending your lease for 1-2 years offers flexibility to wait for newer car models (especially new electric models are constantly entering the market), cost savings due to lower monthly payments and the possibility for company car owner to move to a more favourable B tax bracket (see the tax authorities' guidelines on the taxation of fringe benefits). Longer leasing contracts also support sustainable development by reducing the demand for new cars and lowering energy consumption and emissions.How can I request an extension? You can request a contract extension by contacting [Ayvens customer service using the request for contract modification form](targetSelf:/en-fi/contact/). Please provide your car's registration number, the current mileage, the length of the contract extension you wish to request and the mileage required for the extension period.When does a contract change affect a lease agreement? Once you have signed an extension offer for a lease contract, the change will apply from the date of the contract change indicated in the renewal offer. The renewal period will normally start from the end date of the old lease contract. I made an advance payment at the start of my contract. How will this be taken into account in the extension? If you maid an advance payment at the start of the contract, it will have reduced the monthly payment of the lease in the current contract. If the contract is extended, the initial instalment has been used during the initial contract period and the renewal period will be calculated on the basis of the undiscounted rent, In these cases, the monthly payment will normally increase when the contract is renewed. Please contact customer services for more details on your contract.What happens if I do not extend my contract?  If you choose not to extend your contract, it will expire as per the original terms.How long can a contract be extended and are there any restrictions? The possibility and length of an extension depends on the original contract, its length and the number of kilometres. In general, for example, an initial 36-month contract can be extended for 12 to 24 months. The maximum number of contract kilometres is 200 000 km for the whole contract period. If it is a company car, please take note of the company car policy and discuss your needs with your company car manager to find the best solution. Please note that the contract extension is always binding.Is there a fee associated with extending my contract? Yes, a contract renewal fee will be charged according to [the service price list.](targetSelf:https://www.ayvens.com/en-fi/leasing-with-us/our-services/service-price-list/)Will the terms of my contract change with an extension?  The terms of the lease remain unchanged unless changes are specifically requested or notified. Any changes will be notified separately. If you have opted for additional services in your contract, these will also remain unchanged during the renewal period, for example Ayvens Full Cover Insurance or tyre storage.