Zen Auto Contract Extension

[Bootneckshuffl]

Hi all

My M3P 3 year lease is coming up this July. I contacted Zen and requested a one year extension on my contract. I’ve told them 6000 miles which is what the original contract is based on.

My payments are 538 a month yet they’ve just come back to me saying a one year extension on 6000 miles is going to be 775!

Haven’t called them yet to see what they’re playing at, offices are closed. Just wondered if anyone else has had experience in contract extensions with or without Zen?

 

[NewbieT]

Its not personal it’s a point in time. You got a reasonable lease 3 years ago. Interest rates have increased and residual values decreased. The quote will consider what you’ve paid so far, the estimated value of the car and the cost of borrowing. = Just hand it back.

I asked half way through my Zen lease to extend and my monthly came down. You win some you lose some.

 

[Bootneckshuffl]

That’s the thing mate, even if you factor those things in, still doesn’t amount to a near 50% increase surely?

775 a month for a 3 year old car, they can ram it! I thought when I asked for an extension on my contract then that exactly what it would be, especially with same mileage. How wrong was I.