Hello Leasehackr group!
I am very new to this forum and have learn a lot in a short span of 4 days. Stuff I wish I knew when I went for my first lease. I’m interested in finding out how a lease end goes. I took a lease for a Wrangler Sport S from Jeep in July 2018 and is up in September 2021. Besides a disposition fee is there any other fees I have to pay? Am I being charged for Tire’s brakes anything of the sort? If my car is worth less when I give it back do I have to pay the difference? Once again I am fairly new at this and I want to be prepared when i go back and return the lease.
Side note I also took wear and tear insurance from them for 5$ a month was that a good choice or horrible?
Looking forward to your answers Team!
To begin with, wear and tear protection for $5 month is a heck of a deal. I’d take it even though I do not believe in wear and tear.
Closer to the return, you’ll schedule an inspection but prior to that, look online for the guide. The guide will tell you how the conditions and thread needed to be left on the tires.if there are damages that the inspector determines that repair needs to be done to, you’ll contact your wear and tear insurance to take care of it. If it has obvious damages, start the process before the inspector even shows up.
Other than the disposition fee , there shouldn’t be any others once everything is taken care of .
One thing I found helpful at our last turn in is that the dealer we were using for our new car offered to detail our old car and buff out any scratches etc and made it look really nice for our inspection.
a rock fell on my hood and chipped some of the paint away. I should contact the wear and tear insurance to get that sorted out
Yes do so but honestly that might be minor wear and tear so wait until it’s closer. It will depend on how much damage there is to the paint.
Whatever you do, fix everything before handing over the car and and keep the inspection report.
Why? It’s not uncommon at all to get an inspection report that itemizes the repair costs and have the amount they want to charge be less than what it’d cost to repair yourself.
Now, one should always get a lease inspection when possible, but use that information to inform what repairs are needed/cost effective to perform yourself.
I only advise to have the car in the right shape for the inspection. For peace of mind, I don’t want the bank to have any record of damages that might suddenly appear on the final statement. Some manufacturers outsource their inspections. I saw a guy here turned in a perfect car then saw pics with no wheels.
The OP has wear and tear protection which from my experience, came from a third party who you’d work with to fix the damages before turning the car in.
If you get an inspection with recorded damage, youc have the option of repairing the damage and retaining proof of the repair or having a cost comparison for not repairing it. Paying ahead of time means you’re paying the most expensive option.
Most of the wear and tear coverages I have seen that are manufacturer add ons just cover a certain amount of damage at lease turn in. They aren’t a repair as you go plan. Now, if that’s the kind of plan here, putting it to use makes sense, but you should be using it as soon as there’s damage rather than just prior to lease turn in.
I have never seen an excess wear and tear plan that actually fixes damages. The point of this plan is to cover any damage that occurs over the lease (usually up to a certain dollar threshold) so you don’t have to fix it before turn in. Something like tire and wheel that includes paint less dent removal and windshield is more of a repair as you go plan.
I would also be curious to see if this excess wear plan is a dealer policy or a third party/manufacturer. I know of some dealers that underwrite their own policies for cheap and every lease gets it.