Lease-End Options and What to Expect at Russ Darrow CDJR Madison

If the end of your vehicle lease is coming up this can be an exciting opportunity to explore new possibilities, whether it’s upgrading to a new vehicle or keeping the vehicle you’ve grown accustomed to. The process of returning your leased vehicle doesn’t need to be complicated. With the right information and preparation, it can be seamless and stress-free. Here’s what you need to know about your options and how to make the most of your lease-end experience.

Lease End Options:

  • Return your Vehicle and Walk Away: If you no longer need a vehicle you can return it after making the last payment and settle any fees at the dealership.
  • Buy the Vehicle: If you have grown accustomed to your leased car, you can buy it outright or finance it. 
  • Lease another Vehicle: If you are ready to look for a different vehicle or newer model you can turn in your leased car and lease another.
  • Extend your lease: If you are unsure if you want to buy or lease a new vehicle, you may be able to extend your lease.
  • Can You Return Your Leased Vehicle Early? Yes, you are welcome to terminate your lease early however this will most likely entail a termination fee of some sort. contact us at Russ Darrow CDJR Madison if you have any questions about your lease ending and what an early termination fee may cost.

Quick Tips on Returning Your Leased Vehicle

Your leasing company will likely send you an update on when your lease is coming to an end and a checklist of things to go through. However, below is a short list of some things to keep in mind and go through before you return your leased vehicle.

  • Gather Paperwork: Make sure to gather any original lease paperwork and items that came with your car prior to turning in the vehicle. Check the glove box ensure the original paperwork and manuals are in the vehicle and ensure you have both keyfobs. 
  • Check your odometer: Making sure you are still within the mileage of your lease contract can help you better prepare for any extra fees you may incur.
  • Clean the Vehicle: Make sure your vehicle is clean and remove any of your personal items. This can save time and the dealership and also demonstrate that you took care of the car during an inspection.
  • Set up an appointment to return the vehicle: Before going to the dealership ensure you have an inspection appointment and talk to staff to make sure everything is arranged for you to drop off your vehicle hassle-free.

Charges After A Vehicle Lease Ends

When leasing a vehicle it is important to understand the charges that you can expect to have to pay after your lease is up. These charges include mileage charges, disposal charges, and wear and tear charges.

Mileage Charges

Make sure to review your lease agreement before returning your vehicle to ensure you are still within the original mileage on your lease agreement. Your lease agreement should have an annual mileage allowance which is the number of miles you promised the dealership you would not go over. A typical allowance is around 10,000-12,000 miles a year. For every mile you go over you can expect to incur a charge per mile ranging anywhere from 20-30 cents per mile. These charges can add up and are something to keep in mind when discussing your annual mileage on your next lease.

Disposal Charges

If you are planning on returning your leased vehicle and not purchasing it you can expect a disposition fee that will be added to your termination charges. This fee helps cover the cost of returning the vehicle to the dealership’s inventory such as fixing any minor wear and tear issues, cleaning, and getting it ready for its next driver.

Wear and Tear Charges

Ensuring your vehicle is clean and ready for inspection is the first step to ensuring you do not have additional wear and tear charges. Ensure that you have kept up on maintenance and that you do not have any major damage done to the vehicle to avoid any extra charges. Making sure your vehicle is up to date on maintenance and clean will look better during its inspection.

Your dealership will have written what acceptable wear and tear is on your lease agreement. This is usually covered as minor scratches and dents. However, if the vehicle has damage to the overall appearance such as dented fenders, cracked windshield, or large scratches this will ultimately cost you more. Ensure your tires have been rotated regularly ensuring that all the tires have equal amounts of wear.

Chrysler Dodge Jeep Ram Lease Return Madison

When your Chrysler, Dodge, Jeep, or Ram Lease is up come to Russ Darrow CDJR Madison to return your vehicle. If you would like to upgrade to a new vehicle we have an extensive inventory of beautiful Chrysler, Dodge, Jeep, and Ram Vehicles for you to choose from.

Our expert staff are here to assist you in leasing your new vehicle or purchasing it if you choose. Our Finance experts can help you make the right option to fit your financial needs whether you need an auto loan or want to lease a new vehicle.