For 35 months, you have cruised around the country and next month it is time to turn your leased vehicle in and start anew. Legally, when you first signed the agreements for your lease arrangement, there were certain provisions the car dealer had to provide you. One such piece of information that required full disclosure was the wear and tear assessment policy on your vehicle.
Lease Holders are Responsible for Wear and Tear Items
In order to ensure their vehicle is returned in the best condition possible, dealerships commonly charge the lease holders wear and tear fees to cover the costs associated with correcting the damage down to common parts on a car. The dealer should have told you how the wear and tear would be assessed upon returning the vehicle to them, and the factors they used in determining whether it was standard use covered by the lease or if the damage is greater than the terms you both originally agreed to. In general, the law dictates that the wear and tear standards must be reasonable.
Common Wear and Tear Items
Some wear and tear clauses that you should pay special attention to and may accrue additional charges for are:
- Any body damage
- Seat damage including rips, stains and burns
- The condition of the wheels and tires
- Minor scrapes and scratches affecting the car's paint job
Normal wear and tear is expected upon the return of any leased vehicle and if you use common sense before returning the vehicle, you should be able to spot excessive wear and tear on your own. If you spot damage that may need some serious attention, it may be worth it to pay to get the corrections fixed before turning in your vehicle to ensure you get a better price than what the dealer might charge.
As with all leases, make sure that leasing is right for you as opposed to an auto loan, and be sure to take into account the price of wear and tear items after your lease expires.
