What to Do When the Lease Expires?

Every leasing company has their own terms and condition, so it’s important for you to find out what needs to be done when the lease is no longer in force. It’s vital to conduct this research because the leasing firm that leased the car to the original lessee owns it. This gives them the power to instruct you to return the vehicle to a local dealership when the contract expires. While others can demand that the car should be dropped off at a designated auction lot. In this case, the company will provide you the address of the nearest drop-off point.

In case, the vehicle has suffered any structural damages it is your responsibility to have it repaired prior delivering it to the designated location. Else, you have to pay the premium fees that are assessed by the leasing firm after inspecting the vehicle at the drop-off point.