GM #nostr.
I don’t want to go to Reddit for the answer, so I will start here first.
Does anyone have experience with car lease ending in the US? And do you have any lessons learned from that experience.
My lease is ending soon, and I want to upgrade my car, how does this process typically go in terms of what I need to pay. I don’t want to be scammed 😅
Thanks. 🙏
#asknostr
As long as you're not over miles and no damage then they shouldn't charge you for anything else.
Thanks. That’s good to know.
I am under my miles. But do have 1 or 2 very small (penny sized) door dents. But I’m guessing my insurance will help with this.
I actually bought a dent “remover”, which I’m planning to attempt to pull out these two small dents.
So considering car is in good condition, they just take the car, and I will be paying the registration fees for the new one and I’m all set to go?
Yep exactly, I doubt they will care about the dents, but if they come out even better.
Also just ask about your residual buyout. You have first rights on the car. if your lease was heavy on the payments you could owe less than the car is worth and be in a positive position.
As Johnathan said you should be able to walk away free and clear. Stay away from “I can get you out 3 months early” as all they do is roll those payments into your new lease.
Thanks for the tip. They are definitely trying to get me out early.
During Covid people where selling their lease back to the dealership and making a profit rather then turning the lease in, so depending on the car if it appreciated over time nominally due to inflation you can make money or buy the lease out at a discount.
Hope this article helps
https://www.caranddriver.com/news/a39799387/car-lease-ends-next-steps/
