More Information about Returning the Vehicle and Paying Any Amounts Owed

All closed-end leases offer you the option of returning the vehicle at lease-end, paying any charges, and walking away. If you return the vehicle to the lessor at the scheduled end of the term, a turn-in date will be arranged, at which time the vehicle will be inspected for excessive wear and tear or other damages and the vehicle's odometer will be checked for excess mileage. Some lessors also require or permit you to have the vehicle inspected for excessive wear and excess mileage before the scheduled termination date. Early inspection gives you notice of any expected excessive wear or excess mileage charges.

In a closed-end lease, if you return the vehicle, you are generally responsible for any excess mileage and excessive wear-and-tear charges plus any other end-of-term charges such as a disposition fee. (See the section End-of-Term Charges.) Of course, you would also be responsible for any past-due amounts under the lease, such as parking tickets paid by the lessor, personal property taxes, or late charges. You are not responsible for any difference if the vehicle's market value is less than the residual value stated in your lease agreement (that is, if the actual depreciation is greater than the depreciation shown in your lease) for reasons other than excess mileage or excessive wear. You should check your lease agreement or contact the lessor to determine where you may return the vehicle. You may be charged an additional fee if you do not return the vehicle to the location designated by the lessor.