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What Is 'Fair Wear And Tear'?

When you lease a vehicle the finance company as part of calculating the monthly lease charge will need to estimate the future sales value when the vehicle is returned at the end of the rental period. They will make the assumption that the return condition of the vehicle is in line with the leasing industry Fair Wear and Tear standards. It is important that when the vehicle is returned at the end of the lease period that the vehicle is returned in a clean and good condition, the company financing your vehicle will complete an inspection both inside the vehicle and outside. If any excessive damage above the leasing industry Fair Wear and Tear' standard is identified then you will be required to compensate the finance company for the repair cost.

An independent body called the British Vehicle and Leasing association (BVRLA) set the industry standards for Fair, Wear and tear damage assessments, the BVRLA are a trade body for companies that are engaged in the leasing and rental of cars and commercial vehicles to both business's and consumers 

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