What to Do As You Near the End of Your Lease Term
It's easy to find information on the benefits of leasing a new Toyota. On what to do when your lease term is nearing its end, not so much. Don't panic. With Concord Toyota, ending your lease is as easy as it was to begin.
90 Days from Lease End: Research Your Options
About three months from the end of your lease term, you may be getting a phone call from us, or from Toyota Financial Services to talk about options. Most lessees choose one of three:
- Lease or purchase a new Toyota vehicle
- Purchase your current lease
- Turn in your lease, and walk away
The beauty of leasing is that you are never obligated to continue doing business with us if you are unsatisfied. However, if you do choose to lease again or purchase a new Toyota, loyalty rewards often apply. Feel free to contact the experts at Concord Toyota to talk over the benefits of each option so you can come to an informed decision.
60 Days from Lease End: Have Your Vehicle Inspected
Toyota Financial Services offers complimentary inspections by the independent inspection company, AutoVIN for lease-end inspections. Inspecting your vehicle before turning it in can prevent any surprise charges for excessive wear and tear. We know you have been driving your leased vehicle for a few years, so we don't expect it to come back looking factory-new. However, excessive wear and tear that may incur charges include:
- Cuts, burns, or holes in seat covers larger than a credit card
- Scratches in paint or dents larger than a credit card
- Broken or missing parts or accessories
- Missing keys
- Cracked windshield
- Damaged wheels, tires with exposed cords
If you plan to buy your leased Toyota, skip this step. Since the vehicle will be yours, there are no end-of-term obligations, excessive miles, or excessive wear charges.
30 Days from Lease End: Make Your Final Decision
Chances are, with only a month left to do, you have made up your mind on whether you wish to lease again though Concord Toyota, purchase your current lease, or buy a different vehicle through us, or from another dealership.
If you decide to buy out your lease, contact Concord Toyota to learn the payoff amount, and what documents will be needed to finalize the purchase. If you are leasing again, or buying a new Toyota, visit our Concord, CA Toyota Showroom and take a test drive to see what's new. You may wish to stick with the same model, or change things up. Finally, schedule a turn-in appointment.
Contact us with any questions you have to make sure the lease-end process goes smoothly.