Lease Turn-In

 

All good things must come to an end, and we hope you have enjoyed your time in your leased vehicle. You will be faced with a few decisions as well as some steps to take as the maturity date approaches. Here is some information that will come in handy as you prepare for your Subaru lease turn-in.

Lease-End Options

And the end of your term, you must decide which course of action to take with your leased Subaru. You may simply return it, or you may purchase it and make it your own for more years of safe, reliable, and comfortable driving. If you choose to return the vehicle outright, you will receive a payoff request to finalize the entire lease transaction. This may include billing for excess mileage and wear, as well as a disposition fee. If you elect to buy the vehicle, your sales associate will work closely with you to guide you through the steps of the process.

Many lessees opt to purchase because they have loved their time driving the car and know that it was well taken care of. Others are eager to get into a brand-new car with the latest technology and options, and so they return to the showroom to buy or lease something else.

The Subaru Lease Loyalty Program offers attractive incentives for qualifying returning lessees. These offers change regularly, so check with the Balise Subaru financing staff for currently valid promotions and terms.

Steps to the Subaru Lease Turn-In

1.      Call for a pre-inspection 45 to 50 days before your maturity date. In this step, we will schedule a no-cost pre-return inspection with an independent automotive inspection company. This third party will evaluate the condition of your returning leased vehicle to determine if any charges for excessive wear on the vehicle should be assessed. You will receive a copy of the condition report at the end of the inspection.

2.      Within three weeks of the inspection, you will receive an itemized Excess Wear and Use Statement showing any required repairs and the estimated costs for each. Those costs will be added to your final invoice when you return the vehicle.

3.      Make your final payment. The last lease payment will be due a month before the maturity date. If you have been making automatic debit payments, don't forget to stop these so that you don't overpay.

4.      Return the vehicle to the dealership on the day of the lease's maturity. Return both keys and leave the owner's manual in the glove box, and be sure to remove all of your belongings.

5.      Call the dealership within one business day of the car's return. You will also need to fill out and sign an odometer disclosure statement stating the actual mileage on the returning leased vehicle.

Keep in mind that any leased vehicle that is returned prematurely (31 days or more before your lease end date) will incur early termination charges. This does not apply to leases that the dealership buys out as part of a new car trade-in.


Make an Inquiry

Balise Subaru

561 Quaker Lane
Directions West Warwick, RI 02893

  • Sales: 401-352-5909
  • Service: 401-200-6691
  • Parts: 401-780-3491
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Balise Subaru | 561 Quaker Ln, West Warwick, RI 02893 | (401) 352-5909
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