Car Leasing Myth Busters #4: Can You Take a Lease Car Abroad?
Taking your car on a road trip abroad has grown in popularity in recent years, with more and more people opting to take their car abroad on holiday rather than fly. With the added luxury of having your own car available for the entire trip, taking your own car be seen as a better and cheaper alternative to renting a hire car. But what if your car is on lease, is this still an option available to you? In short, yes! Pendle Lease have put together this helpful blog so you have all the information you need to start planning your next road trip.
Authority to Travel
As your car is leased, you are not the legal owner of the car. The legal owner is the finance lender with which your lease contract is with. As such, authority from them is required. This is a straightforward process and a common request for finance lenders. Start by contacting your leasing broker who will be able to make the request on your behalf. Once the request has been approved, a letter of authority will be issued. This must be carried with you in the car at all times when driving abroad as it is proof you are entitled to have the car in a foreign country.
Failure to carry this document may result in issues with local police in the country.
Obtaining a VE103
Similarly, you will also need a VE103. This legal document is vitally important and, again, must be carried in the car at all times when travelling. In a situation where you own the car, you would take your V5C (logbook) with you. However, with a leased car the VE103 acts as a replacement V5C.
A VE103 is valid for 12 months as assigned to the vehicle, not the driver. It can be used as many times as required during that 12 month period, but once it has expired, an application for a new one must be made. Like with the Authority to Travel letter, the finance lender can assist in issuing this and your first port of call should be your leasing broker.
The following information will be required before a VE103 can be issued:
- Registration Number (VRM)
- Main driver's full name as appears on driver's licence
- Contact number and email
- Full name of any additional drivers (up to 2 per VE103)
- Full home address of main driver
- Date of travel
Any changes to personal information, such as a change of address, will require a new VE103 to be issued.
Admin Fees
While Pendle Lease do not charge any admin fees for assisting you with this, other leasing brokers may charge a fee.
Typically, the finance lenders DO charge an admin fee for this which is payable by you. Fees vary depending on the finance lender, but fees are typically around £12.
Insurance
Lastly, be sure to inform your insurer that you are taking the car abroad. As per your lease contract, you are required to have fully comprehensive insurance on the lease car and this includes when abroad.
Any Questions
If you have any questions at all about taking your lease car abroad, you can speak to a member of the Pendle Lease Team who are ready to help. You can also take a read through Mario's Story - Mario took his Volvo XC60 leased through Pendle Lease on a family trip to Portugal and was impressed by the ease of the process.
