End of Lease

When a vehicle is subject to a ‘repurchase agreement’ from a manufacturer or leasing company, there are strict procedures to be adhered to before, during and after the return as well clear rules as to the condition that the vehicle has to reach to prevent the customer receiving ‘refurbishment costs’.

Faamco will use our tailored software to automatically manage these processes in-line with the relevant party’s requirements, should the vehicle in question be on an Faamco operating lease. HOWEVER, Faamco can also manage these processes on behalf of customers who have arranged their own finance or have their own ‘repurchase agreement’ in place.

Managing the end of lease process is only half the battle, it is then essential to properly manage any refurbishment costs that the manufacturer or leasing company wants to charge. Again Faamco can take the lead on this through its Return Management facility.