With a lease agreement, you only pay for amortization, so your monthly payments are much lower than if you decide to finance the purchase over the same period. In general, the vehicle should be returned to the state it was in at the beginning of the lease. Slight wear is generally acceptable. Normal wear can include a few small door tricks, tokens or scratches. Excess wear may include objects such as bumps, cracks in glass, torn padding or poor quality repairs. You can find more information in your contract or guide on your final rental options. The decision to return your car depends on price and personal preferences. If your car no longer meets your needs, you can return it to your lender and keep driving. This can usually be done with little or no cost, especially if your car is in good condition. You are charged a fee for damage and excess mileage, so be sure to check the terms of your rental agreement and have your car thoroughly checked. Now that you understand the basics, don`t be afraid to call your lender to discuss your unique situation.
If you need extra time to think about things, you should consider renewing your lease. They will pay extra months, but it may be worth not rushing into the process. Whatever you decide, you may feel safe to have made an informed decision. Please call 800-USBANKS (800-872-2657) to ask a leasing advisor to check your account for details. If you wish to terminate your lease before the full term, you will receive an early termination penalty. Early termination can cost payments of up to 2.5 months. In addition, you could be responsible for much more, depending on the value of the vehicle. Invoices are automatically printed 15 days before the due date. If you return the vehicle between the date the extract was printed and the due date, you do not have to make this payment.
However, if the vehicle is not returned until the due date, you are responsible for this payment. Please contact us at 866-250-3147 to get a leasing advisor to check your account for more details. You can change your due date for the duration of the lease. Please call 800-USBANKS (800-872-2657) to initiate this request. You must complete a federal odometer return when you return, purchase or act the vehicle.