Leasing a new car should be a carefree and enjoyable alternative to the responsibilities of auto ownership.
Many of the risks of driving a car – the small dents and dings that happen in parking lots, chipped paint, even worn tires – are your responsibility at lease-end. You either repair them, or you pay the leasing company to perform the repairs. You may lose part of your security deposit, all of it, or maybe even more… Why worry about things that happen to almost any car?
The optional Leased Vehicle Excess Wear & Tear Plan may waive up to $7,500 of the cost of repairing covered parts including dents, dings, scratches and wear and tear on your vehicle at lease-end. You must turn in your vehicle at any time prior to or within 1 year after the original scheduled maturity date stated on your contract and you must not exercise the purchase option.
Leased Vehicle Excess Wear & Tear may waive up to $7,500 for excess wear and tear repairs to the following parts:
$20-$25 to repair a chip, to over $200 to replace a window
$35-$70 to repair
$75-$200 per tire, depending on tire size
$45-$135 per ding or dent
$35-$150 depending on the fabric type
Leased Vehicle Excess Wear and Tear will not waive any charges due to improper repairs, removal of bumper stickers, signs, lettering, excess mileage charges or from other occurrences as listed in the Excess Wear and Tear Addendum. This information is only a general outline of the Leased Vehicle Excess Wear & Tear Plan. Please refer to the Leased Vehicle Excess Wear & Tear Plan Addendum for specific details.