I understand at the end of a lease, the disposition fee can be waived if you choose to either purchase the vehicle or start another lease. I wonder how “at the end of a lease” is defined. For instance:
Do you need to start a new lease on the same day the current lease is returned? Or you can start a new lease a certain days (10 days for example) after the current lease is returned? Or, can you start a new lease first, then return the current lease 10 days after?
Also, does the new lease needs to be done at the same dealership where the current lease is returned, in order to qualify for the disposition fee waiver?
Thx guys. So it can be either starting a new lease within 10 days after retuning the current lease, or returning the current lease within 10 days after starting a new lease, correct? @chevysalesgirl
Customer must take retail delivery of a new GM vehicle financed or leased
through GM Financial within 10 days of the vehicle grounded date.
GM Financial Leasing will also cover up to $500 of billable excess mileage charges AND up to $500 of billable excess wear-and-use charges for terminating lessees who are purchasing or leasing a new GM vehicle through GM Financial. The new GM vehicle must be financed or leased with GM Financial.
Thanks @chevysalesgirl. This is really helpful. Leasehackr should pay you for answering questions on this forum.
Sounds like returning the current lease needs to happen first, then take another lease within 10 days. If this is the case, how can we take advantage of the “current lease” rebate when getting a new lease, as the current lease has been returned prior to getting a new lease?
You can do them at the same time. Returning the lease has no effect on a new deal. Other than making sure the dealer can take in the leased car, if it is different than the originating dealer.
Are the Program Rules (re: disposition fee, excess mileage, excess wear) published anywhere? I’ve searched online but cannot find anything. My lease paper mostly clears up the disposition fee - waived if I purchase or lease another new GM vehicle at end of current lease, but nothing on excess mileage waived.
My 2016 Equinox lease is ending in a few months, not over on mileage yet but on track to exceed stated amount. My monthly payments are low, so I’d prefer to not turn in early, $500 toward excess mileage would be plenty and a great incentive to re-lease with GMF. I’d like to plan accordingly, just can’t find any details. Would I have to contact GM Financial? A dealership? Thanks in advance.
She probably has the paperwork in front of her Pops.
The $500 dmg waiver is probably ‘offered’ when you ask GM about leasing a new car.
If you plan to get another GM, always ask about offers, and not at the dealership you have to call GM Financial.
The dealership can tell you you are getting an ‘offer’ but they have no connection to the offers GM financial has.
So if you turn in your GM without calling GM directly, you might lose any offer they have.
In case I were to need the additional wear coverage, is there a resource published anywhere or will I receive in the mail? If I were to just bring it up to a dealer or GM Financial they will know about it or will written details/permission be needed?
This is good to know. I’m forecasting a slight overage on one of mine down the road presuming everything stays the same, but it shouldn’t be a problem if I get pull ahead 3 to 4 months out. At least I know not to bank on the mileage forgiveness. Then again I’m talking around 18 months from now so they might change it again.
the dealer that you drop the car off should be submitting this form. since there is a lot of employees at GM, I tell everyone… if you receive a final bill and went GMF to GMF, get the email and fax number of your contact at GM financial customer service and we can resend this form. grounding and billing usually is about 60 days.
if you purchase XS wear, your wheels, tires, $5000 damage and over miles by 1600 is covered. https://www.gmfinancial.com/Docs/xs-wear.pdf
I find it hilarious that they removed the graphic regarding the 500 in mileage overage, but left the remaining two parts spaced and aligned the way they were with it included.
@chevysalesgirl and others. I did purchase XS wear when getting my lease. Would my disposition fee be waived since I bought the XS wear option (even if I do not get a new lease)? Thanks in advance!
