Lease Return Process
Some Frequently Asked Questions:
1. Where do I return my vehicle?
To minimize your wait time, please contact us to schedule an appointment for your lease return.
2. Can I return the vehicle prior to its scheduled termination date?
YES, and depending on your scheduled lease termination date, there may be a number of options available to you. Please contact us.
3. Can I just drop off my vehicle at another dealership?
In some instances, you can drop off your vehicle at another dealership. However, the other dealership may not be equipped to handle your lease termination. You will need to contact them to verify that they can accept your vehicle. (The main reason they may not be able to handle the transaction is a limited storage area.)
4. Why am I charged a turn-in fee (also called termination fee)?
Your Leasing Company incurs costs in taking possession of your returned leased vehicle. This charge is outlined in your lease agreement.
5. What is considered excess wear and use?
Each Leasing Company considers excess wear and use to be damage that is sustained in excess of what is considered normal wear and use. You will receive an information package form your leasing company, which will detail what they consider to be excess wear and use.
Any wear to the vehicle that is not defined as excessive is considered normal. Your lessor's standard for excessive wear and tear is stated in the lease agreement. Examples of excess wear and tear include
· Broken or missing parts
· Dented or damaged body panels or trim
· Cuts, tears, burns, or permanent stains in the fabric or carpet
· Excessively worn tires
· Cracked or broken glass
· Poor-quality repairs.
In addition to being responsible for excessive wear and tear, you are generally responsible for all scheduled maintenance and servicing, including oil changes.
6. What should I do to find out whether I will be charged for excessive wear and tear on my vehicle?
Some lessors require you or permit you to have the vehicle inspected for excessive wear and tear before the scheduled termination date. This procedure gives you notice of any expected excessive wear charges.
7. I'm considering purchasing my leased vehicle. Do you offer any financing options?
Yes. We have many financing options available. For details, please contact us at 561-656-5555
8. I have driven more than the allowable mileage on my lease agreement. Will I be charged?
If you are planning to return your vehicle at the end of your lease, and your vehicle exceeds the maximum allowable miles stated in your lease agreement, you will need to pay a fee for the excess mileage, at the rate stated in your lease agreement. However, if you choose to purchase your vehicle, you will not be responsible for any excess mileage on your vehicle.
9. My vehicle is damaged. Will I be charged for any repairs?
If you are planning to return your vehicle to us at the end of your lease, and your vehicle has sustained damage that is not the result of normal wear and use (as outlined in your lease agreement) you will be responsible for the estimated costs of those repairs. However, if you choose to purchase your vehicle, you will not be responsible for any excess wear and use on your vehicle.
10. At the end of the lease term, can I turn in the vehicle at a dealership other than the one from which I took delivery?
Lessors have a range of different policies on the return of leased vehicles at the end of the term. If the lessor or assignee permits you to return the vehicle to the originating dealership or leasing company, then upon request, you may be able to return the vehicle to any dealership affiliated with that lessor. However, you may be required to return the vehicle to a specific location; check your lease agreement for details.
11. How long will it take to get my security deposit back?
Lessors have a range of different policies on the return of security deposits. Generally, the lessor will wait until you have paid (1) all amounts due under the lease (including any end-of-term costs), (2) any taxes due, such as personal property taxes, and (3) any other government fees, such as parking tickets before returning your security deposit. Once these obligations are paid, any remainder of your refundable security deposit should be returned within a few weeks.
12. If the replacement vehicle I have ordered is not available when my lease ends, may I continue leasing my current vehicle?
Many lessors will allow you to extend the lease while waiting for a replacement vehicle. Generally, the lease extension is done on a month-to-month basis. Depending on your Leasing Company, your payment may change.
Come see us before your Lease Expires. We can assist you in preparing for your next vehicle.
Some helpful hints for preparing your vehicle for Turn-in.
- Top off all fluids
- Make sure the vehicle is in good, clean condition
- Check to ensure all original accessory equipment is still with the vehicle
- Check to ensure all personal items have been removed from the vehicle. Remember to check the CD player and all storage areas
- Make sure you have your vehicle registration form and all sets of keys and key fobs
- Bring in the Warranty Books, Owners and Maintenance Manuals.
Lease-end options
At the end of your lease, you have some alternatives
1. Turn It In- Return your vehicle, pay any fees and charges and lease or purchase a new vehicle.
2. Keep It. – Purchase your vehicle at the predetermined “Purchase Option Price”.
3. Buyout and Sell- Buy your vehicle at the predetermined “Purchase Option Price” and stated on your lease agreement and sell it.
When you drop off your vehicle, you will:
-Sign an odometer disclosure statement.
-Pay any remaining payments or applicable amounts due on the vehicle.
Vehicle Inspection
Before your lease expires, contact your leasing company to set up a complimentary vehicle inspection. This inspection may help you avoid a wear-and-use charge for items that may be covered by your insurance policy (such as a damaged windshield). And it will help you decide what to do with your leased vehicle.
To ensure the process runs smoothly and fairly, your leasing company employs a third party inspection company, whose inspectors receive continuous training, and are up-to-date on the Lessors standards and procedures. All inspectors are certified and display proper identification.
This inspection takes approximately 30 minutes, and can be done at your home, or your place of business. It will be performed using a laptop computer, and the results will be printed immediately after the inspection. The inspector will review the report with you and address your questions. You will be given a copy of the condition report. A second copy will be left in your vehicle, and should remain in the vehicle until the time of return.
Should your vehicle's condition change prior to its return due to repairs or additional damage, another inspection will be necessary. To schedule your re-inspection, please call your leasing company.
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