Hello, my maturity date is coming soon. What would happen if I kept the car past the date? I have 3k more miles left on the lease. Would I just have to continue paying the same monthly rate, or are there substantial fees with doing this?
For reference, I just read the lease contract and I didn’t see any type of specific fee called out for this scenario. Just seems like I would only have to continue paying monthly fee (until I run over my mileage of course). This is with NMAC.
Thoughts, first hand experience? Thanks for the help.
IIRC correctly Toyota has a 10 day grace period. Obv a call to NMAC is in order first to see if they have a 10 day waiver or if you can extend another month or two.
Agree with Forbs here, I wouldnt recommend just going past lease maturity date w/o a conversation with NMAC first.
I was able to get a hold of NMAC pretty quickly just now. They offered me another 3 months at my current rate, with more miles as well. Glad to take that offer. I’ll be a bit more proactive towards the next maturity date.
As always keep checking the Marketplace. IIRC, NMAC lease extensions are month-to-month without a commitment so if you see something good you can jump on it.