How to Prepare for the End of Your Vehicle’s Lease

Coming to the end of your vehicle’s lease? Time to start planning for your lease return. Here’s some things to do in order to prepare before you reach your lease termination date and how Ed Martin Nissan of Fishers can help.

How to Prepare for the End of Your Vehicle’s Lease

First things first…

It’s a good plan to go into the last ninety days of your lease with the decision of what you want to do with your leased vehicle already made. You’ll have these three options:

• Return the leased vehicle and walk away
• Return the vehicle and start a new lease
• Buy your leased vehicle

Be sure to check your lease contract, some lessors will allow you to return your vehicle to any dealership that’s affiliated with your leasing company while others may ask that you return the vehicle to the dealership you leased it from.

Can I turn my lease in anywhere?

Your lessor normally will send you a letter around 90 days prior to the termination date which will review where you can turn the leased vehicle in as well as the lease-end inspection process.

The inspection will include taking inventory of the physical state of the vehicle as well as reviewing to see if you stayed under the agreed upon mileage. If you took great care of your vehicle and are under the agreed upon mileage, you’re in a good spot. Currently, there’s high demand for used vehicles and you may find that your vehicle’s buyout amount is less than the cash value. If so, you’ll have equity that you can use as a down payment on a new vehicle or towards a new lease.

Ready to start planning? Contact our Ed Martin Nissan of Fishers team. We will walk you through all of your options and help you plan for your next vehicle whether you’re planning to lease again, buy your leased vehicle, or purchase an entirely new vehicle.

Tags: lease return tips
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