Lease Return Questions? Here is a list of FAQs on early lease returning
Are you wondering "Is it possible to do an early lease return?" Yes, in fact it's probably not nearly as painful as you thought. In fact, many customer actually make out good with their early lease return! How it goes for each person depends on certain factors with your current lease and what you are looking to do after. Also, if you are new to car leasing, there are several things you need to know before jumping into the deep end. At Napleton Auto Group, we believe that when you know the answers to those questions, everyone gets a better deal and a great experience when buying or leasing their next vehicle.
Here are a few important things to know, based on questions we are frequently asked returning a lease, early returns or leasing a new vehicle. There is even a section for those wondering if they should lease or buy their next new vehicle...
What if I am over my lease mileage limit?
The reality is if you drive lots, you will pay for the mileage, one way or another. Driving a lot causes vehicles to suffer value depreciation for every mile. You can pay for it as an after-the-fact per-mile charge, or you can pay extra for an “extra miles car lease,” which allows you to increase your miles before signing your lease. Talk to your sales professional who can arrange such a lease.
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What if I leased from somewhere else?
That doesn’t matter to us at all! Our specialists work with customers from all over! Some of them leased at a different dealership and some with us. When you speak with one of our specialists, they will let you know how easy it is to turn in your lease or upgrade to a new lease with new options, features and warranty!
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Can I return my car lease early? Will I be penalized?
Yes! In fact, at Napleton, we are lease-ending specialists and in many situations we can help you get out of a lease early. If you are within a few months of lease termination, fill out this form to discuss your options. That can even apply if you didn’t lease at a Napleton dealership. You may qualify for a bonus for allowing us the privilege of changing out your lease.
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What if I didn't lease my vehicle, Can I trade or sell my vehicle?
Our specialists are trained in all things automotive! This site specializes in lease returns and early lease returns, but as one of the largest automotive groups in the country, of course we can help you with that. When you call in or fill out a form to be contacted, make sure you let the specialist know that you are interested in trading or selling your purchased vehicle. Best of all, because of the market right now and most dealerships desperate need to get new inventory, not only can you sell your vehicle, people are getting more money than ever for their used cars. !
Yes, You can sell your car to us! We may even be able to pick it up! There has been no better time to sell your car!
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Should I lease or buy my next vehicle? Which is better?
The answer depends on specifics. Some customers may not qualify for leasing based on their credit rating, income or some other requirement. Knowing these factors before arriving at a dealership can help you determine which is the better option for you. Sites like Credit Karma or the actual credit reporting services like Trans Union, Equifax and Experian will give you a free copy of your credit report so you can keep up to date with how you stand. Also, it’s a good time to check the accuracy of your report because credit agencies can occasionally make mistakes. Leasing works great for some customers, while buying is better for others. Mileage driven is a big factor when looking at a lease or a purchase. Our specialists can explain all the differences to help you make an educated decision.
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What if I move to another state (Or if I moved from another state to here) with my leased car?
Life happens and we have no idea where we will be next. If you move to another state with your leased car, contact your lease finance company first, so they have a record of where the car will be stored. Sales tax rates may raise or lower, depending on where you are going to live. Check with the new state’s Department of Motor Vehicles (DMV) to see if you are eligible for a credit or refund of taxes you have paid in your previous state. Also, be aware there is usually a deadline to register and apply for a license plate for your car in your new state. With that in mind, our specialists may be able to help you if you are located in an area we serve. Contact a Specialist to get details.
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What are my “End of Lease options?”
Now that your lease is finished, you have several choices. You can return your vehicle – sooner if you like—and Pull-Ahead to a newer model vehicle. We are always looking for clean pre-owned cars, trucks and SUVs and your end-of-lease vehicle fits the bill perfectly. You can buy the vehicle outright and continue to drive it for years to come. Finally, you can return your vehicle and walk away. But how will you get anywhere? Don’t worry. The Napleton Auto Group can meet all your transportation needs.
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Is a Down Payment the same as a Due at Signing?
No. A “Due at Signing Fee” (also known as a Lease Inception Fee) includes all up-front costs like cash, taxes, doc fees, deposits, first month’s payment and down payment. Of these amounts, the down payment is only part of the due at signing amount. It’s the only part of your due at signing fee that will lower the cost of the monthly payment amounts.
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What is a Car Lease?
A car lease is a way to finance a vehicle for a shorter time. Approximately 32% of all new vehicles are leased. Of those, nearly 70-percent are luxury vehicles. Leasing provides an alternative means of financing a vehicle that has other benefits too. As cars have become more expensive in recent years, the prices may have stepped out of reach of an average consumer. Consumer priorities have also changed and have left less money for a transportation budget. As a result, leasing has made many vehicles more affordable, if for a shorter term.
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Early Lease Return Frequently Asked Questions
If you have landed on this page, you may be asking yourself a very common question we hear a lot. Can I turn my lease in early? Above we go over that question and many more regarding vehicle leasing. In most situations, you will find that for every single person the answer is different. Ending a lease early is something many people worry about. Are there fees, penalties, Do I have to pay the rest of the loan off? You can fill out our form or click contact specialist if you are looking to get answers that apply to you specifically. As stated above, early lease returns are going to be different for every situation and every person and that is why we made our specialists available for our customers.
Some things that may help you be prepared for a end of lease discussion, regardless of if you choose us or another business are:
- Have your vin number ready
- Have the dates of your lease ready
- Have the bank your lease is through
- Vehicle payoff from your lease account
(For a your financial institution website click here to see a list if you are not sure)
- Mileage of the vehicle
- Condition of the vehicle
(You may be requested to send pictures)
Having all of these things ready will ensure you are ready to have a conversation with any lease return specialist. The more information they have, the more accurate a specialist can be with the information you are requesting. |
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