Most people end up paying more fees when they return their leased vehicle back to the dealership. Typically, they get hit with excessive wear & tear, wheel damage, minor scratches and dings and going over the mileage limit. Even when none of the above are present in your vehicle, the dealer will almost always find ways to extract more fees from you. They will also offer to waive some of these fees if you lease a new vehicle from them.
It does not have to be this way. There are some things you can do where not only will you not have to pay them, but you may actually be able to get them to pay you.
1 - You do not have to return your vehicle to the dealership where you leased your vehicle. You can take your car back to any dealer for your make of vehicle. You can check the reviews to see which dealers are better with lease returns.
2 - When you lease your vehicle typically the manufacturer/lease company will estimate what they think the residual value of your vehicle will be several years down the road when it is time for you to return the vehicle. They will indicate this on your lease contract, and this will also be your purchase price should you choose to purchase the vehicle at the end of your lease. Used vehicle prices change all the time. Sometimes at the time of your lease return, the market price of your vehicle may be a good deal more than the residual value on your lease contract. When this is the case you can actually make money returning your leased vehicle.
It does not have to be this way. There are some things you can do where not only will you not have to pay them, but you may actually be able to get them to pay you.
1 - You do not have to return your vehicle to the dealership where you leased your vehicle. You can take your car back to any dealer for your make of vehicle. You can check the reviews to see which dealers are better with lease returns.
2 - When you lease your vehicle typically the manufacturer/lease company will estimate what they think the residual value of your vehicle will be several years down the road when it is time for you to return the vehicle. They will indicate this on your lease contract, and this will also be your purchase price should you choose to purchase the vehicle at the end of your lease. Used vehicle prices change all the time. Sometimes at the time of your lease return, the market price of your vehicle may be a good deal more than the residual value on your lease contract. When this is the case you can actually make money returning your leased vehicle.
a) At lease end check the value of your car with Kelly Blue Book (kbb.com) and compare this to the residual value of your vehicle as indicated in your lease contract. If the market value is more, tell your dealer you are thinking about purchasing the vehicle and reselling it. Often times the dealer will offer you some premium to turn the lease in.
b) if the dealer you are trying to return your vehicle is attempting to charge you for unreasonable charges or if your vehicle market value is more and they are not offering you any premium, go to a few other dealers (for your car brand) and see what they are willing to offer.