All good things must come to an end, as is true for vehicle lease agreements. Whether you loved your leased vehicle or disliked it, the end of a lease agreement is accompanied by several procedures that must be completed. From taking note of the vehicle's condition to evaluating circumstances that may result in financial penalty.

Excessive wear and tear are one of the main reasons for financial loss at lease-end. If a lessee was unacceptably rough on their vehicle or caused excessive damage that extends beyond normal wear, they may be penalized for the vehicle's condition. The terms of normal wear and tear should be laid out in your lease agreement, so it is important to read over this document prior to turning in the vehicle.

In addition, extra mileage that goes over the limit allowed in the terms of the lease will be charged for. When you are nearing lease-end, there is not much you can do about additional mileage. However, if you are early in your lease, this restriction should be acknowledged and adhered to.

 

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