Time flies when you’re having fun! After a few short years of driving your leased Lexus, you may realize it is about time to decide what to do or drive, next. Although the Lexus lease return process may appear confusing at first, the professionals at North Park Lexus Dominion are here to help go over all of the lease-return options available. When your lease is nearing the end-date, you may receive a call, letter or email from one of our sales consultants or Lexus Financial Services but you can also give us a call or stop by our dealership in San Antonio, near Helotes and Boerne, and we will walk you through your available lease-end options. Learn more about how to turn in a Lexus lease or discover the many options you have available at lease-end.
Step One: Research Lexus Lease Return
If you’ve enjoyed driving your Lexus as much as we think you have, you may find yourself wanting to continue driving your Lexus. Why not? You’ve been the one behind the wheel and still love how your Lexus drives. But you also see that the new models have some updates that are too tempting to pass up. Upgrading to the latest safety and multimedia technology is preferable and may allow you to get into the new model for around what you pay now. This is when the first step begins: research. With the help of our Lexus sales and leasing consultants or simply by shopping our new Lexus inventory online, you can review your options so when the time comes, you’ll have all of the information you need to make the right decision.
If you’re still wondering whether buying your lease or leasing new Lexus is a better choice for your lifestyle, take a look at this quick comparison chart that lays out a few important factors to take into consideration.
Step Two: Lease Return Inspection
If you decide to go ahead and turn in your vehicle rather than purchase it outright, then your second step of the lease-return process is inspecting your leased Lexus. Inspecting the current condition of your Lexus will prepare you for any possible Excess Wear and Use charges that Lexus Financial Services may apply after lease turn-in. Our Lexus lease and sales consultants, along with our Lexus Service Center at Dominion, offer a complimentary walk-around “inspection” where we can help to identify any potential problems or areas that may be considered “excess wear” before you turn in the keys to Lexus. You can also schedule your complimentary, official pre-inspection with Lexus Financial Services directly, which should take place 15-60 days prior to your lease maturity date. This inspection will take place with a third party that will assess your vehicle on behalf of LFS. The inspectors will come to your home, work or other preferred location to make it more convenient for you. If any issues are discovered that may be considered “excess wear” by LFS, you may choose to schedule a service appointment with us, where we can fix the issues prior to your official inspection.
Have questions on what is considered Excessive Wear and Use on a Lexus Lease? Check out the LFS Lease Manual or get a quick overview here:
- Interior condition: one or more cuts, tears, burns or stains that are larger than a credit card
- Missing keys, remotes, mats, tonneau covers, books or other accessories that came with your new Lexus
- Inoperative or broken parts and equipment
- Modifications made to the vehicle not outlined in the lease
- Damaged tires or wheels
- Tires that do not match or meet the manufacturer’s guidelines
- Damage or cracks in the windshield, windows, mirrors or lamps
- Exterior condition: scratch or dent larger than a credit card or anything that penetrates the paint.
Step 3: Finalize Your Lease Return
The final step in the lease return process is finalizing all of the paperwork for whichever of the three decisions you made. You can visit North Park Lexus at Dominion to complete paperwork and lease finalization for whichever route you decided to take with your Lexus lease. Our finance managers can complete your lease purchase and complete the required paperwork to refinance or purchase or lease and our sales and leasing consultants can get all of the needed forms, including the odometer statement and lease return paperwork if you decide to turn the vehicle in. If you decided to lease a new Lexus, your sales consultant will help finalize the lease return with you and turn in all the keys required to our lease return center.
What’s Next
After you’ve returned your leased Lexus to North Park Lexus at Dominion, you may receive a Lease End Invoice mailed to you from Lexus Financial Services in the coming weeks that will include any outstanding payments, late fees, unpaid personal property tax for the prior year of driving and possibly an invoice for Excessive Wear and Use charges. If you have any questions, please contact us at North Park Lexus at Dominion.