Auto Leasing FAQ
What Should You do at the Conclusion of Your Car Lease?
Curious about ending your lease in Santa Monica? The end of a lease may be both exciting and a little stressful, depending on a few factors. It's enjoyable seeing as it gives you the opportunity to drive a whole new car or truck in place of your existing one; it can be stressful if you are unclear about the best option for your situation financially. What you do with your car once the lease has ended hinges on the money you're able to spend, as well as whether you'd like a different car or not. Evaluate some of your options as it comes time for the end of your lease; you can also contact Penske Buick GMC of South Bay with questions on your Santa Monica auto lease conclusion.
What you need to do as part of your lease return
As your current lease draws to a close, you may question the subsequent steps for you and your vehicle. The end of a lease term requires that you have your car inspected and returned to any Buick or GMC dealership, but according to the way you want to complete the task, there could be more to it than that. You'll have three basic possibilities for ending your lease: You can buyout your lease, you may return your lease, or you can return your lease and purchase another vehicle. If you opt to start a new lease, be sure to check out our Buick lease deals in Santa Monica for opportunities to save. Explore a number our FAQs to answer any queries you may have about the end of your lease.
When should I have my vehicle inspected?
It's suggested that you have your car or truck inspected within the last two months of your lease. This will ensure that you have enough time to schedule repairs on the vehicle, if there is any required maintenance.
Should I buyout my lease?
Opting to buyout your lease may be a great option depending on your circumstances. It is best to compare to your other lease-end possibilities to be sure that you are making the right choice. Typically, the end-of-lease buyout price will just be any residual value within your lease contract; it's up to you to determine whether the residual value is a fair price for you to pay. It's necessary to consider whether or not you would pay that price to get a different used vehicle of precisely the same mileage and equipment. If you are unclear about how to answer this, you can give us a call any time at 877-301-7551 to talk with a leasing specialist.
What if I wish to end my lease early?
If you wish to end your lease before its scheduled termination, it is easy to buyout your lease at any time, or you can trade-in your car or truck at any time. If you wish to turn your vehicle in early, you will simply be accountable for any remaining payments on your lease.
Do I have to return my lease to Penske Buick GMC of South Bay?
You can return your Buick or GMC lease in Santa Monica to any dealer in the area, no matter where you leased it from originally.
What is the procedure for turning my lease in?
When you wish to turn in your lease, your vehicle needs to be examined by an authorized agent. Once this has been done, turning in your lease will only require you to complete some paperwork about the vehicle.
Why can't my dealer carry out the vehicle inspection?
Only authorized agents can complete end-of-lease inspections, but if you're able to return your vehicle to Penske Buick GMC of South Bay at the conclusion of your lease, we will contact an authorized agent who will perform the inspection.
How long will the inspection take?
The inspection of the car should take about an hour, unless there is an excess quantity of problems with your vehicle.
Do I need to be present during the end-of-lease inspection?
While it's not a necessity that you be present for the inspection of your vehicle, we do highly suggest it. If you are at the vehicle inspection, you can better understand the assessment results, as well as any charges that may apply. In addition to this, you will need to sign off on the vehicle review that the inspector produces; you will also be given a copy of the report at this time.
Still have questions?
Call us at 877-301-7551, contact us online, or come see us in Torrance to understand more about the end of your Santa Monica auto lease.