Lease-end Options: What To Do When Your Lease is Up

Handshake

If your lease is about to expire, you may be nervous about what options you have in the middle of a global chip shortage, which has all but halted automotive production. There’s no need to worry when you work with York Chevrolet, Inc. in Brazil. We’ve streamlined the lease return process and created a workaround that will allow our Terre Haute neighbors to get access to their next vehicle well in advance, whether they lease or finance. Take a moment to read about how to prepare for your lease return, what your options are, and then, get in touch with York Chevrolet, Inc. for help! 

View InventoryFinance DepartmentVIP Custom Order

What Are Your Lease-end Options? 

If your lease is ending soon, you’ll have 4 options. Plainfield drivers can choose to renew their lease, walk away from their lease contract entirely, swap their lease out for a new vehicle lease, or buy/finance the remaining value of their car. 

If you’re planning on swapping your lease out for a new vehicle, rest assured, we can get you access to a new car, regardless of the global vehicle production shortage. Just get in touch with our financiers, and we’ll show you our VIP access inventory, which includes a full schedule of models that will be arriving at our lot and when. We’ll also allow you to cherry-pick from the selection and reserve your next car in advance, so you don’t feel like don’t have options. When you work with York Chevrolet, Inc., you always have options. 

How to Prepare for a Lease Return 

If you plan on returning your lease, you’ll want to prepare for a lease inspection beforehand, so you don’t incur any fees. We recommend that you: 

    • Equipment: Look at the list of included items in your lease agreement, and double-check that all of the original features that came with your lease are in the car. For instance, make sure you still have all the keys you received at the beginning of your lease. Other items to watch out for include utility accessories like floor mats, cargo bay organizers, and other small items. 
    • Condition: Make sure that your vehicle is in good shape. Look at your lease agreement’s definition of excess wear-and-tear. If you feel like your vehicle is out of compliance, see if you can fix that upholstery or paint-scratch in advance.
    • Mileage: Compare the mileage on your odometer to the mileage limit listed in your agreement. If you’ve gone over the limit, you can expect to pay fees.  

What to Expect from the Lease Inspection 

Schedule for your lease inspection 90 days prior to lease-end. At the inspection, we’ll look for the following: 

  • Excess mileage 
  • Excessive tire wear 
  • Excessive upholstery damage and/or exterior panel/paint damage
  • Pits and cracks in the windshield 

We’ll then give you a quote on the total fees you’ll need to pay, if there are any. You can then compare the fees to the cost of taking care of the repairs yourself. 

Returning a Lease Early 

If you’d like to return your lease early, it’s a simple process that follows much of the same steps listed above. The major difference is that you’ll need to double-check your lease agreement to see if there are any fees associated with breaking your lease early. Then, you’ll want to run your own cost-benefit analysis, given whether there are termination fees, and decide if returning your lease early is right for you. 

Have Questions About Your Lease-end Options 

Have more questions about how to turn in your lease vehicle? Want to get access to our VIP inventory of vehicles in the process of being shipped to our lot, so you can reserve your next vehicle in advance? Paris, IL drivers can contact York Chevrolet, Inc. at (812) 717-4835. Rest assured, there’s no need to worry about lease returns or lease-end options when you work with us, chip shortage or not. While you’re here, take a moment to re-apply for pre-approval to initiate the process of getting into your next car!