With Some Planning You Can Save Hundreds! Here’s what to do…

Just the other day, a client of mine was ending his 2010 Lexus lease and going into a 2013 Lexus.  The car he was trading in was 5,000 miles over the mileage maximum, had a maintenance light blinking, and four panels on the car had dents.  In this one instance, we were able to negotiate some of the end of lease charges down.

But it can be “Hit or Miss” on whether you have to pay or even how much you have to pay! It may surprise you that it is not an exact science. It all depends on the manufacturer’s inspection company that does the final inspection before you turn it in. It is completely subjective!  It may depend on how the adjuster is feeling that day!

This process is not unlike what you go through with a real estate bank adjuster to get a mortgage.  You won’t really know if the damage to the outside of your car is going to be chargeable to you until after you get their bill.

The manufacturer wants you to have the inspection done before you bring back the car.  They will usually send you a reminder 30 days before the lease is up and you then will make an appointment.  After the adjuster looks at it, you will receive a bill.  Within those 30 days you may not have time to take it to a body shop or have the maintenance done, in order to get the work done cheaper.

Instead, you have the right to call within 90 days of the lease expiring to make that appointment.  This should give you plenty of time to get your options in place and get the work done if needed.

Many people wait to the last minute and don’t give themselves time to get the inspection done. They just turn the car in and wait to get a bill!  My advice is Don’t Wait! Mark your calendars right now .  Find out your end of the lease date and count back 90 days.  Put a reminder on the calendar to call for the adjuster to come out and inspect the car.  You have to know your rights and protect yourself from those unexpected end-of-year lease costs.  Call me if you have any questions!