It’s no secret that leasing has seen a rise in popularity over the last five years. With so many people coming to the end of their first lease now, the question is what to do at the end? The most important thing is your lease pre-inspection. It is important for all lease customers to visit the dealership within 6 months of the lease’s end. Our inspection compares to the manufacturer’s inspection that happens when you turn in the vehicle, and is completed ahead of time, to save you time and money.
If there are any concerns, you’ll have the opportunity to make any fixes before the manufacturer hits you with a high-dollar charge at our dealer costs.
Antwaun, or one of our Sales Managers, will complete a visual walkaround of the vehicle first.
We are checking for any scratches, dents, dings or other blemishes that could cost you money.
Then will go over the tires, making sure they are above the manufacturer’s recommendation, such as 4/32nds. Some manufacturers will charge you if the tire tread is below 4/32nds.
Of course we will also go through the inside of the vehicle to make sure there are no potentially costly blemishes.
Basically we want to give you the opportunity to make any necessary repairs now, so you’re charged for them at the end of the lease.
We will finally take a look at the mileage, and make sure you’re not on pace to exceed the agreed upon mileage due at the end of the lease. For every mile over the agreement, you could be charged anywhere from 15 to 20 cents for every mile over. If it looks like you could be facing an additional charge, we can get you out of the lease before your exceed the agreed upon mileage.
We will then sit down with you and recap all the terms and conditions of the lease, including your due date, your final payments and if there are any disposition fees.
Remember, you have options at the end of your lease.
1. You can purchase the vehicle outright for the set price you agreed to at the beginning.
2. You can trade in the car and get a new lease. If the vehicle is worth more than your agreed upon buyout, you can take that as a credit or pocket the extra money!
3. And of course, you can turn the vehicle and walk away from it outright
In addition, the manufacturers often have lease loyalty programs that allow you get out of your lease early. Within 6 months to go is a great time to begin looking for your next lease.
All Waikem Lease Customer should receive our pre-inspection notice in the mail 6 months prior to the lease’s expiration, with the details of the time and showroom.
While you are waiting for the end of your lease, take a moment and view our current specials and current inventory. If you have any lease pre-inspection questions, you can contact Antwaun DeGraffinreed at 330-478-0281, ext. 1177.