Leasing a vehicle has several advantages over purchasing, including fewer worries about maintenance and, in general, lower monthly payments. Drivers who prefer to lease look forward to getting a new vehicle after their lease has expired, often considering it to be one of the best perks of leasing.
But leasing comes with its own set of rules that, if you are new to leasing, you may not know off-the-bat. To help clear the air about the end-of-lease process, we’ve compiled a list of answers to some of the most frequently asked questions at our Birmingham Nissan dealership.
Can I Return My Car to Any Dealer?
Most vehicle lease agreements indicate that vehicles can be returned to any authorized dealer of the same vehicle brand, or make. For example, a leased Nissan must be returned to a Nissan dealer in any location. It is usually easiest to return the car to the dealership where you originally leased it, especially if you are considering purchasing the car, but any same-make dealership will do.
Do I Need to Schedule a Lease Return?
It is always a good idea to call and schedule an appointment for a lease return. A vehicle inspection by a certified inspector is required to determine the car’s condition. The inspection takes less than an hour and can be done at the dealership, or arrangements can be made to inspect it at your home or workplace.
What Are Inspectors Looking For?
Experts recommend preparing for the inspection by removing all personal belongings and making sure the car is clean and presented in the best light. This is because inspectors assess whether there is any chargeable wear-and-tear on the lease return. That type of damage includes scratches and dents on the exterior, stains and tears in the interior, and any mileage overages. Tire condition, windshield chips, and scraped wheels are possible reasons for penalties.
Nissan provides an online Wear and Use Guide to give lessees an idea of what to expect, as well as the opportunity to tend to repairs before the official return.
What Are My Lease-End Options?
Once your lease comes to an end, you have three options available to fulfill the lease agreement. There are good reasons to choose each of them depending on your situation.
- Roll into a new lease – Drivers have the option to turn in their current vehicle and drive off with a brand new one. Some companies, including Nissan, offer Owner Loyalty incentives for added savings. It’s a great way to continue to hit the road in the style you like.
- Purchase the car you’ve been leasing – Drivers might decide they are happy with the car they already have. In that case, you have the option to buy it from the leasing company at the predetermined purchase price stated in the leasing contract. Incidental charges may apply including sales tax and vehicle registration.
- Return the vehicle and walk away – Lessees can choose just to return the vehicle. It still requires an inspection by a certified inspector as well as completing and signing several forms designed to determine the condition of the car before and after the lease. At Jim Burke Nissan, we do everything we can to make the process easy for you.
What If I Want To Return My Leased Car Early?
Terminating your car lease early can be a prolonged and costly process. You may end up paying steep penalties and might want to explore other options.
What Happens If I’m Late On Returning My Lease?
Failing to return your leased car on time may result in repossession and a bad mark on your credit score. It is always smart to contact the leasing company right away and ask for a lease extension.
What Else Should I Know?
It is important to read your leasing contract carefully before you sign. It explains how the car can be used and what fees you might be charged as part of the deal. The agreement will clarify when and if mileage charges apply and what your responsibility is for covering repairs and maintenance. The contract will also make clear any other lease-return policies.
Lease from Jim Burke Nissan in Birmingham
Jim Burke Nissan is Birmingham’s premier source of quality new and used Nissan cars. We carry a wide range of models and take pride in our friendly customer service. Contact us anytime and let us know how we can help you buy or lease a new Nissan. We serve shoppers throughout Birmingham, including Hoover and Tuscaloosa. Visit us at 1300 3rd Ave North today!