Chevrolet Lease Return Guide

2022 Chevy Equinox Parked Near Water
 
Is your lease coming to an end, or are you curious about returning a leased vehicle early? In any case, the lease return process is fairly simple and straightforward. Below, you can learn more about returning a leased car and how it works at our American Fork finance center. Our Chevrolet dealership is your number one source for information on car buying and leasing.

 

 

What to Bring with You When Returning a Leased Car

When you’re ready to return your leased vehicle to Ken Garff Chevrolet, make sure you have the following items and documentation:

  • Repair receipts
  • Vehicle inspection report
  • Owner’s manual
  • Keys/spare keys
  • Maintenance records

If you can’t find an item listed above or you forgot it, chances are we can look it up for you. If you have any questions about what you should bring, don’t hesitate to contact us online or by phone at (801) 980-2102.

Returning a Leased Car Step by Step

When it comes time to return your leased vehicle, you can simply drop it off at our dealership. Even if you leased the car at another Lehi or Pleasant Grove dealership, you can still bring it to us. Here’s a quick overview of the lease-return process:

  1. Bring the leased car to your dealership.
  2. One of our specialists will check the car for any damage, as well as assess its overall condition.
  3. Keep in mind that if there are any additional miles on the odometer beyond what was stipulated in the mileage cap, there may be penalty fees.
  4. After the inspection is complete, you can choose a new vehicle to lease. Or, you can buy your leased vehicle outright, or simply walk away without any obligation.

Can You Return a Leased Car Early?

It depends. Check with your leasing company first, but in most cases, companies do allow lessees to do an early return. Keep in mind that you’ll still be responsible for paying off the owed amount, as well as any fees and penalties. Afterward, you can still upgrade to another leased vehicle of your choosing.

What is a Lease Buyout?

The lease buyout definition is when a car dealership lets you purchase a car at the end or before the end of your lease contract. Typically, the price is the car’s remaining value. There are two lease buyout options: lease-end buyout and early lease buyout. A lease-end buyout is most common and involves paying what the vehicle is anticipated to be worth by the end of the lease term. An early lease buyout is when you purchase your vehicle before the lease contract ends. Not all car leases allow for this option, so be sure to check beforehand.

How Does a Chevy Lease Buyout Work?

If you want to own a car, a lease buyout is a smart choice, especially if you’re on a tight budget. Here are a few steps that you’ll take to complete a car lease buyout:

  • Talk to your lender. Reach out to the leasing institution to ask about your lead-end options. They’ll tell you how a lease buyout works with their terms, and if there are any associated fees. 
  • Apply for financingIf you’re planning to finance, apply for financing to see what offers are available to you. In most cases, you can secure a finance plan through the dealer you leased from, but there are other financing options to explore as well.
  • Negotiate the buyout price and finalize the purchase. You may be able to negotiate a lease buyout down to a more affordable price. After you’ve settled on the price and have secured financing (if needed), the last thing to do is finalize the buyout. 

Return Your Leased Car at Ken Garff Chevrolet Near Orem & Provo

With Ken Garff Chevrolet, you can return a leased car quickly and with minimal stress, so you can get back on Eagle Mountain roads in no return. If you’re planning on leasing a car for the first time, check out our leasing guide for drivers around American Fork!

 

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Ken Garff Chevrolet 40.35667, -111.7844.