Avoid Extra Expenses at the End of the Car Lease
Many consumers get anxious when the day to finally return the car to the dealer comes; knowing that the condition of the leased car is inspected for extra charges. Usually, the charges are assessed based on the excess wear and tear or the excess in the allowable mileage as stated in the contract.
As the car leasing market becomes more competitive, banks are in the look out on how to make money from the returned vehicles which is why it's important that the lessee keeps the car at the condition above what's considered an "average wear and tear" to avoid the dreaded penalties.
Here are a few tips that aims to lessen the financial anxiety when saying farewell to your leased car.
- Have the vehicle washed and detailed.
- Make sure you regularly service the vehicle.
- Keep all maintenance records.
- Have the vehicle serviced just before you turn it in.
- Fix things such as windshield chips, which are usually covered under the insurance and may cost you nothing to repair.
- If there are any needed repairs that you can handle, do it yourself.
- Stay within your mileage limit.
- If the mileage fees are pretty steep, consider selling the car yourself instead of paying the penalties
- Dents should be removed before returning the vehicle.
When you decide to lease the car, you said that you would drive only 12K miles a year to make sure to stay within the allowed mileage limit and avoid the excess mileage cost. Most lessee would normally get upset once they need to pay for the excess, but they should also take heed that they have gotten something of value for the extra money you had to pay.