Here in Wayne, NJ, our dealership provides drivers with the opportunity to lease any new Lincoln model they wish, but what happens when the lease ends? Many drivers are unclear about what they need to know when their lease ends with us, and this article will explain just that, so keep reading to learn more.
What to Expect When Returning a Leased Vehicle
When a lease comes to an end, there are quite of few things’ residents of Roseland, NJ, need to know. First, the lease return process typically begins with a phone call from our dealership approximately 90 days before the lease term ends. At this point, you’ll be advised to schedule a free lease-end inspection appointment.
The Inspection Process
: Before a Paterson, NJ residents returns their leased vehicle, its overall condition needs to be professionally evaluated to determine if there is any significantly chargeable wear and tear, damage, and any excess mileage. The pre-inspection identifies defects and allows time to process insurance damage claims or make the needed repairs.
Calculating Excess Mileage
: Miles driven more than those allowed by lease agreement will incur an additional charge when the leased vehicle is returned. To estimate how much additional charge will be assessed for excess mileage, multiply the excess miles by the cost per mile designated in the lease agreement.
Other Lease End Options
There are two other options available for Caldwell and Clifton, NJ, shoppers when it’s time to return your leased vehicle:• Buy or Lease a New Vehicle – Return the leased vehicle and purchase a new model or return the leased vehicle and lease a new vehicle.
• Purchase Your Lease Vehicle – Purchase the leased vehicle by fulfilling the lease obligations and pay/finance the residual.How to Return a Leased Car
When a lease ends, Roseland, NJ leaseholder must return the lease to our dealership. Final mileage, damage, and wear and tear inspections are made, and all keys and key fobs must be turned in. It is essential to make sure the car is clean and that all remaining financial obligations have been paid.
Hopefully, now you have a better understanding of what to expect when a lease comes to a close.