Know Your Options at the End of Your Lease

At the end of a vehicle lease, drivers have to decide what to do with their vehicle. They can choose to buy the car, extend the lease, return it and walk away, or return it and get a new one from the same manufacturer. Some drivers choose to return their leases early. Like any financial agreement, car leases come with rules and policies. Knowing them can help drivers decide the option for their driving needs and budget.

If you have questions about your Mercedes-Benz lease, we invite you to contact our finance experts at Mercedes-Benz of Augusta. We are here for you throughout your lease and can help you understand your options when it comes time to return a leased car.

End-of-Lease Procedures

As your lease comes to a close, Mercedes-Benz will send you information that explains your options. They will also explain the end-of-lease inspection checklist and end-of-lease charges you might incur – especially if you have excessive wear and tear or have gone over your mileage limits.

At the end of your lease, you get to choose what to do with the vehicle you have been driving for the last few years. The benefits of leasing involve getting a new car every few years and always having a new car warranty. However, some drivers like their leased vehicle, so they choose to buy it out or renew the lease. Others want to take advantage of turning in the old vehicle and selecting a new one.

Inspections, Charges, and Early Lease Termination

To return the vehicle, take it to the manufacturer through a nearby dealership. The dealership will examine the car to look for problems, damage, and mileage overages. After inspecting the vehicle, the manufacturer will send you a bill for end-of-car-lease charges. If you’ve maintained the car and kept it in top condition, you might not receive any fees.

Some drivers prefer to return their leased vehicles early. Your lease agreement will explain any early termination fees and how to return a leased car early. Some manufacturers offer early buyout deals, which is the ideal time to return a lease early. Otherwise, the early lease termination process can be costly, as you’ve signed a lease contract to drive the vehicle and pay for it for a preset time.

Some manufacturers offer lease specials that remove any end-of-lease charges. Often, they remove those charges if drivers buy or lease another vehicle from the same manufacturer. Even if the manufacturer doesn’t offer specials, you might be able to negotiate lease terms and monthly payments that include the end-of-lease charges.

Talk to Our Finance Experts for More Information

At Mercedes-Benz of Augusta, our finance experts can help you with questions about returning the car at the end of a lease. Whether you want to end your car lease early or you are concerned about excess mileage, our finance department can help you better understand your options and potential charges.