Lease Return Options
Lease Return Options
What can I do with my car at the end of my lease?
If you’re ending your auto lease, your most convenient option is to return your car to Norwalk Toyota. You can then walk away without further obligation and without having to worry about selling or trading in your vehicle. You’re then free to sign a lease for another vehicle or buy a new one.
Option 1 – Upgrade it
If you are looking to get the newest model or the next tier in excellence, just call our sales staff who can help you find the model you want.
Option 2 – Buy it
Buying your current vehicle is one way to avoid the penalties for exceeding your lease’s mileage limits. Keep in mind that buying may increase your monthly payments if you don’t make a down payment because you’ll now be paying for the total cost of the vehicle instead of the vehicle depreciation during the lease term, plus any taxes, fees, and lease charges.
Option 3 – Extend it
A call to our finance department can extend your current contract informally for six months or less with the same payment terms and without a new agreement.
Option 4 – Return it
What happens if the vehicle has damage?
You must return your vehicle in as close to its original condition as possible, minus any accumulated mileage. The contract specifies acceptable wear and tear, but major damage, such as dents and scratches, may impose additional fees.
Can I exceed the mileage specified in the lease?
You can exceed the lease’s mileage limit, but you’ll have to pay the fee specified in your agreement for every extra mile.
Where can I find out more about my lease options?
If you are in the Los Angeles area, contact the finance team at Norwalk Toyota if you have any questions about what to do at the end of a lease or whether buying or leasing is a better option. We are dedicated to helping you make the best decision about your vehicle.