What happens when your lease is over?

leas eover

If you have a close-ended lease, you are required to pay off the actual amount of any damages that exceed normal wear and tear at the time you return your leased vehicle.  Fortunately, Ford Credit is fairly forgiving when it comes to the amount of wear and tear that is permitted.  For instance, as far as exterior body panel dings, dents and scratches are concerned, you won’t be charged if there are less than four dents per panel and none of the dents have a diameter greater than four inches.

If your vehicle does get a little beat up, here are some ways to avoid paying Excess Wear and Use charges at the end of your lease:

  • If you purchased WearCare® at lease inception, your Excess Wear and Use charges may already be covered.
  • Check to see if any of the chargeable vehicle damages will be covered by your insurance policy. Be sure to allow enough time for claims to be processed and repairs to be completed before returning your vehicle.
  • Regularly maintain your vehicle.  Be sure to keep any receipts.  AOL Autos correspondent David Sedgwick says, “If you encounter engine trouble or other mechanical problems, your records will help demonstrate that you were not at fault.  If your lease is no longer than 36 months, the vehicle warranty should cover the cost of any necessary repairs.”
  • Approximately 35-45 days before your lease is scheduled to end, you may be contacted by a vehicle inspection company to arrange a date for your vehicle inspection.  This inspection is recommended so that you can assess the kind of excess wear charges you may be responsible for.
  • Before returning your vehicle, schedule a vehicle return appointment with your dealer to discuss any damage charges, as well as to sort out your replacement vehicle needs.
  • Make needed repairs before returning your vehicle.  Again, keep any receipts in case they are needed to verify repairs made.
  • Before returning your vehicle, also make sure there are no broken or missing parts and that the tires are the appropriate size and rating for your vehicle

See http://credit.ford.com/wear-and-use for more detailed information on what constitutes as Excess Wear and Use charges for Ford vehicles.

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