Join Early Retirement Today
Thread Tools Search this Thread Display Modes
End of Car Lease Situation
Old 04-03-2011, 01:48 PM   #1
Thinks s/he gets paid by the post
Join Date: Oct 2008
Posts: 2,132
End of Car Lease Situation

Wonder if anyone has run into this situation relative to leased vehicles. I have leased our cars for the last four vehicles. In the past, we have been getting the new leased car while turning in the old one. Never had any problems. This is the first time we have leased the new one (2011 Honda CRV) before the leased expired on the old one (08 Saturn Vue). We leased the new Honda Jan 21st and Saturn lease didn't expire until Mar 31st. So I decided to keep driving it since it was paid through the end of March.

So, I go to the old Saturn/Cadillac dealer to turn the car in and was shocked as to how this was handled. Had received letters from Ally Bank (formally GMAC) about what to expect at end of lease. Checks for wear and tear, dents, excess mileage, etc. I turned it in spotless and 4000 miles under the limit. So the Cadillac dealer doing the paperwork on the Saturn goes out to check my vehicle and all he looks at is the mileage to make sure it wasn't over the limit. Has me sign some papers relative to me actually turning in the car and I give him the keys and he gives me a receipt. I say, is that all there is to it? He tells me that Ally will be in to look at the car in four or five days and if they find anything wrong they will send me a detailed explanation along with a bill for any damages. I say "BOLOGNA! "What if it gets damaged while parked on your lot? Who knows what happened?" He says they have never had a problem. Right! I'd be the first problem. Anyway, I make the dealer rep take a walk arould the car and look at it for dents, etc. and take i pictures with my cell phone. He agrees that everything is great but doesns't write anything down.

This was my first experience with just turning in a car and I can''t get over what a "loosey, goosey" system this was. We're talking about turning in a car worth about $15K, giving them the keys, I get a receipt and we're done. Anybody experience anything like this? If not, be careful. I can see lots of problems here.

JOHNNIE36 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 04-03-2011, 02:52 PM   #2
Recycles dryer sheets
NW Landlady's Avatar
Join Date: Jun 2010
Location: Seatlle
Posts: 185
I have leased several vehicles because it is a Business Use Auto & the expensing of lease payments was attractive on my business balance sheet.

I hate to admit it, but when I turned in my leased autos they were in horrible less than perfect condition in a lot of ways related to my cans of paint, bleach, caulk & other caustic materials had somehow gotten loose in the vehicle...

Never once was I charged for these issues. I was told by some dealers that they want to keep your business (future) if at all possible and rarely make damage charges. It may vary from dealer to dealer & class of vehicle as well.

Hope you have a similar experience.
When a contradiction is impossible to resolve except by a lie, then we know that it is really a door.
S. Weil
NW Landlady is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
how to value lease-option? freebeer FIRE and Money 7 07-31-2008 08:43 AM
Lease Purchase ferco FIRE and Money 13 09-20-2007 03:22 PM
Thoughts on buy or lease new car, Technology changing fast rjk514 Life after FIRE 62 01-25-2007 07:50 PM
Who drives the END of their dead end street? thefed Other topics 17 06-13-2006 02:01 PM
Pay cash from IRA or lease car popyee FIRE and Money 12 05-15-2004 03:28 PM


All times are GMT -6. The time now is 07:57 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.