Returning Lease, grace period?


I’ve extended a lease for 5 months and it’s due back today. Still working numbers and waiting for confirmation of the car I want, same company/dealer.

Is there a grace period for returning a lease?

What is the penalty if any?

I’ve asked the dealer but awaiting to hear back and was curious if anyone knew. SETF Toyota Lease.

1 Like

why would you ask this question the day the lease is due to be returned?


What did TFS tell you when you called and asked them?

Haha, not too worried. Getting the car today most likely, was just curious in case they didn’t have the model I wanted. Been trying to get the car for a few days, shortages…Can always return and wait, car is for someone who doesn’t drive too much.

Been on hold, will let you know. Just figured someone knew off the bat. So I didn’t have to wait on hold.

The problem is that there’s so much contract variability between makes/models, states, banks/lessors, when it was signed, what contract template was used, etc.

So even if someone from FL signed a SETF lease agreement for the exact same car with the exact same terms, at the same time you did it, I’d even wonder if the same template was being used… :man_shrugging:

Without going through the exact lease contract that was signed and looking at the exact line item, the lessor/bank will be your best bet.

@trevor90 why would you answer a question with a question? In what way do you think your response was helpful to the OP?

1 Like

This varies from bank to bank. Some banks won’t notice/care about a few days/weeks. Some will. Not sure how Toyota is. I’m sure you’ll be fine if you’re getting another one…

1 Like

Thanks. I haven’t actually got a clear answer yet. Dealer is looking into it. SETF said no grace period due to lease extension. While that’s helpful, I’m curious if there’s a penalty, etc. I don’t mind paying a small late return charge, to ensure I get the car I need/want.

Ha, in life not everything happens perfectly especially when you’re juggling multiple jobs…this isn’t even my car, helping a family member…Sometimes less important parts of life like cars, are not the top focus.

1 Like

Have you checked all the usual suspect buying services if you have equity in the car you’re about to return?

Which are the usuals? Carvana and Vroom?

carmax, carvana, shift, vroom, algo, givemethevin

1 Like

This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.