When you return the lease vehicle at the end of the agreement, the lender will examine the vehicle for any damage. While “fair wear and tear” is acceptable, if there has been any significant damage or negligence on your part, you may have to face additional fees. Here’s how wear and tear could affect your lease – and the money in your pocket – when it’s time to return the vehicle.
What is fair wear and tear?
When taking a lease out on a car, it is your responsibility to return the vehicle to the finance company in good condition – as far as possible. The vehicle will be inspected at the end of the contract, and any damage that is found to be excessive wear and tear might incur a penalty so that the damage can be repaired. However, we’re all human and we know that bumps and scratches happen even to the most careful of drivers.
The British Vehicle Rental and Leasing Association (BVRLA) created a guide as to what constitutes fair wear and tear, although leasing companies may use their own set of wear and tear rules.
The most common lease repairs include:
- Scratches on paintwork
- Dents or chips in the bodywork
- Burns, rips or holes to the upholstery, mats or carpets
- Damage to the wheels or trim
Leasing your next vehicle
When looking for a car leasing deal, it’s important to consider the details regarding the wear and tear policies so that you know in what condition you need to return your vehicle. Always conduct maintenance as necessary and prepare to return your vehicle in good condition ahead of time.
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