What happens at the end of an auto lease?
When you come to the end of the lease term for your car, in most cases you will simply return the vehicle and walk away. However, there are a few steps you may need to take when returning your car, including perhaps buying it.Lease TypeMost car leases are closed-end leases which means your obligation ends when the car is returned. A very small number of leases are open end, which requires that you purchase the vehicle at end of lease term. Verify through your lease agreement which type of lease you have.Your MileageBefore returning your car, you will want to verify that you did not exceed the lease’s mileage limit. If you did, then expect to write out a check covering that overage.Wear and TearYour car dealer will inspect your car for excessive wear and tear. Normal wear and tear such as dings, scratches and minor dents may be okay, but for other damage or wear you may be charged extra. Consider taking care of necessary repairs before returning your leased vehicle.Disposal FeeReview yo
