Follow the steps below for a smooth lease turn in.
As early as 90 days before the end date of your lease, the leasing Bank frequently reaches out to customers to set up pre inspections or find out your projected lease termination date. You are welcome to visit any Wallace Dealership location at any time during your lease, to start exploring your lease turn in options. Also feel free to contact your leasing company with questions. For your convenience we have listed some contact numbers below.
Make the decision to turn-in or buy your lease. When reviewing theses options, it is very important you visit a Wallace location. We can help you receive the lowest buy out price, provide you low financing options, and in some cases help you avoid fees in excess wear and tear by purchasing your leased vehicle for our inventory. You may also qualify for extra savings towards your next vehicle purchase, Call us today to get more information or Schedule appointment.
Step 3:If your decision is to just turn in your vehicle. After you bring your vehicle to any Wallace Dealership, an Inspector sent by the leasing bank, will come inspect the vehicle for excessive wear and tear or damage on the vehicle.
Step 4:After inspection has been processed, additional billing information may be sent to you with notification your lease is now complete.
ANSWERS TO FREQUENTLY ASKED QUESTIONS
Does it matter where I turn in my lease?
If you are only turning in your vehicle and not purchasing a new vehicle, you should return it to the same brand dealer as your vehicle. It does not have to be the dealer that sold you your vehicle. In situation where you are purchasing another vehicle and turning in a lease at the same time… if leased vehicle is returned to an un-like brand dealership, your leasing company may charge an additional fee. Wallace Automotive Group has over 12 Brands we can accept Lease Returns on free of charge. Which means you have the freedom to shop between multiple brands with no additional lease return fees*.
(*Contact dealership for more details on brands we accept, Lessees are responsible for all excess wear/tear and over mileage fees).
Can I extend my lease?
Depending on your leasing Bank, you can extend your lease for one month or three months or more. Contact your Leasing Bank to see what your options may be.
What would I be billed for at the end of my lease?
Although you may have paid your lease off already, you can still get billed for excess wear/damages on your leased vehicle. Charges can occur from having dents, dings, scratches, smoke smell, tears or stains in the upholstery, any mechanical problems with the engine or vehicles systems, etc... Turning in your vehicle over your contracted mileage limit will also result in charges. If a Wallace Dealership purchases your Leased vehicle for inventory, then over mileage charges and current vehicle condition do not matter. Wallace Automotive Group will be the new owner, ending your lease agreement* (similar to you purchasing your own leased vehicle in its current condition).
(*See dealer for your remaining lease payment information which may factor into the dealership’s purchasing decision).
Can I have an Inspection done before I turn in my lease?
Yes, you can. Most Leasing Banks use an independent company to perform the inspection. If the contact information is not on their website, use the number listed above to contact the Leasing Bank and schedule your early inspection.
What is considered “Normal wear and tear?”
The most common signs of excessive wear are scratches and dents, low thread tires, and other indiscretions. However, each Leasing Bank has their own description of “normal wear and tear.” You can find their description on their websites or in your lease agreement.
What should I return with my vehicle?
Everything that your vehicle came with on the day of purchase should be returned with the vehicle. This is including (but not limited to):
- All-key and keyless remotes
- Owner’s Manual
- Cargo covers/nets
- Spare Tire and toolkit
- Floor Mats
- Navigation Download CDs
- SD memory cards
If there are any additional questions not listed above, please do not hesitate to call any Wallace Dealership for more information on returning a lease.