|
|
Avoiding the Extra Costs When Your Car Lease is Up
Now that your lease is up you are anticipating a new vehicle, or maybe you have decided to purchase this time around instead of leasing a vehicle again. The interesting thing is, now that you are at the dealership that was so helpful when you picked up you leased vehicle seems to be stiffing you now that the term is up. There are all kinds of things that you are being charged for that you were not expecting to pay for when you drove onto the lot.
You are being charged for tires, oil change, extra miles, a bulb for the interior light and a lot of other things that seem to be either made up or just plain out ridiculous. There are a few ways that this situation could have been avoided.
To avoid some of the unexpected costly fees associated with the end of lease take a real good look at the lease agreement prior to signing it. Find out what happens to your security deposit once the lease is ended. It might say it is refundable, but does it also say it will be applied to any extra charges incurred in connection with the lease.
Is there a disposition fee? This is a fee that is charged if the consumer decides against purchasing the vehicle at the end of the lease agreement. This is basically a fee that is charged to the consumer in order to restock or dispose of the vehicle. Some of the charges linked with this are reconditioning charges and transportation charges in order to resell the vehicle. All of the fees that will be charged at the end of the lease should be clearly stated in the agreement itself, if not find out what they are before signing anything.
There are also the extra miles that get racked up pretty quickly. Be sure that you are clear on the exact amount per mile over the allotted miles you will be charged when the lease is over. This should also be clearly stated on the paperwork before you sign it.
The dealership can also charge for excessive wear and tear done to the vehicle. Basically, there is not a set way of determining the way a dealership can decide on the amount of wear and tear is acceptable or not.
Take good care of the vehicle at all times and promptly get anything fixed that could end up costing more by having the dealership take care of it at the end of lease.