The good thing about leasing is that you don’t need to keep the car if you don’t like it once the lease expires. You can return it to the dealer and call it a day. Before you return it though, you need to understand that your deposit might not be returned to you in full under certain conditions. Therefore, it’s crucial for you to check the car first before you decide to return it.
Fix any problems
The first thing is to visit the mechanic and ask for an overall inspection. Ensure the vehicle is in good condition before returning it. Some signs of wear and tear are understandable, but you might have to pay if there is any severe damage.
The reason why you need to deal with the mechanic yourself is that you can negotiate the price. You can also look for a trusted person who will provide good services at a much lower rate. If you return the car with problems, the dealer will find someone to fix them and deduct the amount from your deposit. Since it’s your money that ends up getting deducted, the dealer might not care about the cost.
Read the terms
Go back to the contact you signed at the beginning of the lease. Check if you have gone beyond the mileage limit. You also need to check if there are other requirements you need to meet before getting your deposit back in full. If the dealer argues with you, it’s easy to recheck the contract since it is legally binding. If you violated some of the terms, it is best to be honest with your dealer about it, and settle things amicably.
Consider buying the car
Perhaps, you don’t have to return the vehicle after the deal if you loved it and you don’t mind owning it. You can discuss the price if you wish to purchase the vehicle. Since you already paid a portion of its value while you were under the lease, you don’t need to pay a lot to purchase the vehicle. You can even negotiate with the dealer for a lower price. Make sure that the car is still in top condition and it didn’t suffer from recurring problems when you used it; otherwise, you might have to spend more on repairs.
Start looking for a new car
If you decide to return the vehicle after the lease, you need to start looking for a replacement. You can stick with the same dealer if you’re still happy with your arrangement. Look for a new car to lease. You might also consider buying a new car. If the same dealer offers new cars too, it would be better since you already have a working relationship. If leasing is still an option, check out cheap car lease deals online.
You’re now ready to let go of the old car and start a new deal.
