FAQs
We know that ending a lease isn't something that dealerships or financing companies educate consumers on regularly. So, we understand that you may have questions and are more than happy to answer them! Check out the commonly asked questions about ending your lease below.
What Steps Do I Need to Take To Apply For a Loan?
It is a very easy process. Our Finance Team is here to support you in the auto loan process. To begin all you have to do is CLICK HERE. Once you fill out the application, a member of our team will contact you to answer any questions you may have.
Is It Safe To Send Personal Information Through The Internet?
We take many precautions to make sure that your information stays safe. It's very safe to send your online car loan application on our website. Once we receive your application we personally work with our financial partners to keep your information safe.
I Am Unsure About Some Of The Questions On The Application, Can I Call Someone To Help Me?
Of Course! We have members of our Finance Team standing by to answer any questions you may have. Call us now if you are having any issues with the online application or if you would rather speak with someone over the phone.
How Much Money Down, will I need?
A down payment is on a customer by customer basis. There are many factors that go in to determining if a down payment is necessary or how much is required. While a down payment isn't necessarily required for approval, having a down payment certainly improves your chances of actually being approved.
I Have a Trade-In, Can I Use That For a Down Payment?
Yes! If you have equity in your current car it would a very good idea to use for a down Payment.
I Have a Co-Signer, Will That Improve My Chances For Approval?
Yes, a Co-Signer will greatly increase your chances for approval on a new car.
How long does the lease end process take?
The duration of the lease end process can vary depending on several factors, including the leasing company's procedures and the condition of your vehicle. Typically, it may take a few weeks to complete the necessary paperwork and inspections.
What does the Lease End Process do for me?
Our Lease End Department assists you throughout the lease termination process. We provide guidance on lease return procedures, help facilitate vehicle inspections, review lease-end options, and address any questions or concerns you may have.
What do I need to do to get started?
To initiate the lease end process, simply contact our Lease End Department. We will guide you through the necessary steps, which may include scheduling a vehicle inspection, reviewing lease-end options, and completing any required paperwork.
What is a lease payoff?
A lease payoff refers to the total amount required to purchase your leased vehicle outright before the end of the lease term. This amount typically includes the residual value of the vehicle plus any remaining lease payments and fees.
What makes of vehicles?
Can you help me end my lease without going back to the dealership? Yes, our Lease End Department can assist you with terminating your lease without the need to return to the dealership. We provide comprehensive lease-end services, including facilitating lease returns and exploring alternative options on most makes.
When will my leased vehicle be paid off?
Your leased vehicle will be considered "paid off" once you have fulfilled all lease obligations, including any remaining lease payments and fees. The exact timing depends on your lease agreement and payment schedule.
How is my lease payoff determined ?
Your lease payoff amount is calculated based on various factors, including the residual value of the vehicle, any outstanding lease payments, applicable taxes, fees, and potential early termination charges. Our Lease End Department can provide you with a detailed breakdown of your lease payoff.
Do I have to wait until the end of my lease to buy my vehicle?
No, you may have the option to purchase your leased vehicle at any time during the lease term. Our Lease End Department can assist you in exploring early buyout options and provide guidance on the associated process and costs.
Does the leasing company own my vehicle?
During the lease term, the leasing company retains ownership of the vehicle. However, you are responsible for its care, maintenance, and any lease-related obligations.
Can I just buy out my lease in full and pay cash?
Yes, you can choose to buy out your lease by paying the full remaining balance in cash. However, it's essential to consider the impact on your credit score, as early lease terminations or large cash transactions may affect your credit profile. We recommend consulting with our Lease End Department and a financial advisor to explore the best options for your situation.
Will this affect my credit score?
Just as any other hard pull or credit application, it will have an effect on your credit score. The silver lining is that we make sure to get the best deal for you and your situation.
If you have a question that wasn't covered here, let us get you an answer today!
Call us at 888-826-0029