I have a month before I turn in my leased vehicle. I have not gone over the mileage allotted. What can I expect when I return the vehicle?
- A HunchLv 79 months ago
What can you expect? If you consider your car in spotless condition they will find at least $450 in damage to ding you on.
- SnezzyLv 79 months ago
They will try to get you into another lease for a newer vehicle. Run away. Run away.
- STEPHENLv 79 months ago
If the vehicle is clean and undamaged IN ANY WAY they will say "thank you. Goodbye". If there is ANY damage you'll be paying for it at dealership repair rates.
- regeruggedLv 79 months ago
Just be sure the vehicle is clean and cleaned out. There has to be enough tread on the tires to drive the vehicle safely. No collision damage or you pay for it.
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- AlCaponeLv 79 months ago
You may be offered a free inspection about 30 days ahead of your turn-in date, which will give you an idea of any charges you might owe for damages, serious dents or scratches. Most lease companies are pretty forgiving with such damages. You'll have a chance to fix them yourself if you choose.
On the turn in date, you take your car to a dealer that sells that brand of car, not necessarily the same dealer where you first leased. Get a receipt to show that you returned it. A couple of weeks later, you will receive a bill for your disposition charge (explained in your contract) and for any unrepaired damages or excessive tire wear. Unlike the incorrect information that "Name Withheld" gave you, you will NOT be charged for any loss of value of the vehicle.
Every car manufacturer's web site has a section on how to return their leased cars and what to expect. I advise that you go look at it.
- NeverLv 79 months ago
Probably owe a lease turn in fee equal to your payments and then will owe more for any excessive wear & tear. If any.
You can buy the car for the predetermined price. And that would be a better idea than leasing again or buying a new car.
- The MikelLv 79 months ago
Completion of the Contract, and "deal" for your next one. Read it Carefully.
- 9 months ago
A lot of that also depends on the condition of the vehicle, door dings, scratches, dents and finish.
- Name WithheldLv 79 months ago
Leasing outfits control the size of monthly payment with the Residual Value . . . to make the monthly payment seem attractively low, they overstate the projected value of the vehicle at the end of the lease . . . . . . so it's common to surprise you with a lower value than projected "Sorry, the market value of those particular vehicles has dropped - it's now $3000 less than we projected" . . . you owe them $3000. They do that by using a variety of "book value" sources available to them. And, of course, they have a way to save you from the big surprise payment due at the end of the lease - - - by leasing you a new car.
- Anonymous9 months ago
Not all leases are the same, so why don't you READ YOUR LEASE AGREEMENT and find out?