What To Do Once Your Lease is Almost Up
If your lease is about to expire, that’s only the beginning! You don’t have to be nervous about what options you have in the middle of the chip shortages and halted automotive productions. There is no need to worry when you work with the team at Shepherd's Chevrolet and take advantage of the VIP, Vehicle In Production, program at our dealership! We’ve streamlined the lease return process and created a way for Wolcottville drivers to get access to the latest models, even before they arrive at our lot, when it comes time to return their lease vehicle and take home a new lease vehicle. Take a moment to return about how to prepare for your lease return below, and then contact us with any questions that you still have.
What Are Your Lease-end Options?
If your lease is ending soon, you’ll have 4 options. Fort Wayne drivers can choose to renew their lease, walk away from their lease contract entirely, swap their lease out for a new vehicle lease, or buy/finance the remaining value of their car. If you’re planning on swapping your lease out for a new vehicle, rest assured, we can get you access to a new car, regardless of the global vehicle production shortage. Just get in touch with our financiers, and we’ll show you our VIP access inventory, which includes a full schedule of models that will be arriving at our lot and when. We’ll also allow you to cherry-pick from the selection and reserve your next car in advance, so you don’t feel like don’t have options. When you work with Shepherd's Chevrolet, you always have options.
How to Prepare for a Lease Return
If you plan on returning your lease, you’ll want to prepare for a lease inspection beforehand, so you don’t incur any fees. We recommend that you:
- Equipment: Look at the list of included items in your lease agreement, and double-check that all of the original features that came with your lease are in the car. For instance, make sure you still have all the keys you received at the beginning of your lease. Other items to watch out for include utility accessories like floor mats, cargo bay organizers, and other small items.
- Condition: Make sure that your vehicle is in good shape. Look at your lease agreement’s definition of excess wear-and-tear. If you feel like your vehicle is out of compliance, see if you can fix that upholstery or paint-scratch in advance.
- Mileage: Compare the mileage on your odometer to the mileage limit listed in your agreement. If you’ve gone over the limit, you can expect to pay fees.
- Inspection: Make sure to schedule a lease inspection, but more on that in a moment.
What to Expect from the Lease Inspection
Schedule for your lease inspection 90 days prior to lease-end. At the inspection, we’ll look for the following:
- Excess mileage
- Excessive tire wear
- Excessive upholstery damage and/or exterior panel/paint damage
- Pits and cracks in the windshield
- Dings and scratches
We’ll then give you a quote on the total fees you’ll need to pay, if there are any. You can then compare the fees to the cost of taking care of the repairs yourself.
Returning a Lease Early
If you’d like to return your lease early, it’s a simple process that follows much of the same steps listed above. The major difference is that you’ll need to double-check your lease agreement to see if there are any fees associated with breaking your lease early. Then, you’ll want to run your own cost-benefit analysis, given whether there are termination fees, and decide if returning your lease early is right for you.
Find Your New Model Today at Shepherd's Chevrolet
If you’re ready to bring in your lease vehicle, then it’s time to take advantage of our VIP inventory of vehicles. Not only will you be able to find your next lease vehicle before you ever step foot on our lot, but you can even custom order it to your expected specifications. Our finance department can help you prepare for your lease return process, as well as take home your new lease, in no time, so you can have it delivered right to your home in Albion.