Vehicle Lease Return Tips

Returning your lease can be stressful, as you may be unsure if you'll have to pay fees or what the leasing bank may consider damages excessive and beyond natural obsolescence or wear and tear. You should return your vehicle in good to excellent condition. As per your contract, you are responsible for maintaining your vehicle during the time you have it, even if at the end of your lease.

Complete the Optional Inspection

Most leasing banks offer an optional inspection several months prior to the lease return, providing you with enough time to complete necessary repairs. Leasing wear-and-tear allowance amounts differ, so check your leasing contract to determine how much the bank will cover before you become responsible. Your bank should send you an end-of-lease packet to go over several months prior to the end of the term. If you do not receive the packet, call your leasing bank for instruction. You can call either the dealer or the bank to set up a time to have your vehicle inspected and should do so to allow enough time for repairs.

Paperwork

Return any maintenance or repair paperwork with your lease to prove you have taken care of it. If you serviced at the same dealership, you should be able to ask for a printout of your service records to provide with the return. If not, make copies of your receipts and file the originals with your turn-in paperwork, keeping the copies for yourself. Doing so can protect you from any leasing charges for repairs you have already paid for and completed. If the vehicle had body work done, provide a copy of the repair receipt with your return paperwork, as well. This is usually noted in your lease-end agreement, but find the receipts and make your copies before the lease ends so you do not have to rush to find the papers when time is short. When you do drop off your leased vehicle, ask for a copy of all paperwork that you fill out or sign. Keep this information just in case the leasing bank charges you incorrectly for mile overage or vehicle item replacement, such as for keys or the owner's manual.

Clean and Repair the Vehicle

Clean your vehicle completely before returning it. Because the bank owns the car and you do not, it should be returned in immaculate condition. If you put stickers on the body of the vehicle, have them professionally removed. You can expect to be charged if the bank has to remove the stickers for resale. If you have the inspection completed before the lease-end period, have any recommended repairs completed as soon as possible. Leased vehicles require a full-coverage (collision, comprehensive, in addition to liability) insurance policy for this reason, so do not hesitate to have body damage repaired, whether you pay for it out of pocket or go through your insurance company. Otherwise, you can expect to pay out of pocket after the bank has inspected the vehicle.