Lease-End Guide
Is your Lexus lease approaching its end date? If so, it’s smart to begin considering your options as the date gets closer. Lexus of Akron-Canton is committed to making your Lexus lease-end as simple and stress-free as possible. In this useful lease-end guide, you’ll learn all about the options you have available. Our team is standing by to walk you through the process from start to finish, even if you leased your vehicle at another dealership!
What are my Lexus Lease-End Options?
Current Lexus lessees have three individual options to consider as their lease-end date approaches. Once you register at LexusFinancial.com, you’ll have quick and convenient access to all of your lease information. Below, we’ll explain these three options in further detail to help you make an informed decision.
Option 1: Purchase Your Leased Lexus
We can certainly understand that you have grown attached to your current Lexus vehicle. In the event that you aren’t ready to say goodbye just yet, you have the option to purchase your Lexus upon the conclusion of your lease. For even more flexibility, there are three individual ways that you’re able to complete the purchase of your Lexus. These can vary depending on your individual situation.
- Finance through Lexus Financial Services - After approval, you can further customize your agreement to include protection products that can enhance your long-term ownership experience.
- Purchase your vehicle through your Lexus dealership - Our team is here to help make the process as simple and stress-free as possible.
- Pay for your vehicle in full - If you don’t require financing to complete your purchase, our Lexus Financial professionals will work with you to make sure the transaction is smooth and simple.
Option 2: Purchase or Lease a New Lexus
Ready to upgrade to the most current version of your Lexus or are you interested in choosing a different Lexus vehicle altogether? To reward your loyalty as a Lexus lessee, you might be eligible for exclusive savings on your next Lexus lease or purchase. These include a disposition fee waiver based on your current situation (see your sales consultant for full program details). Our team looks forward to guiding you through the process of returning your current Lexus lease and selecting your next vehicle.
Option 3: Return Your Leased Lexus
Regardless of where your Lexus was originally leased, you’re able to save both time and hassle by returning your lease right here at Lexus of Akron-Canton. In an effort to streamline the process, you can follow a few simple steps to prepare for your lease-end date. We’re committed to making your lease return experience as smooth as possible. Below, we’ve highlighted some of the important steps that you can take before returning your Lexus lease.
Guide to Returning Your Leased Lexus
Prior to your return:
- Inspect your vehicle for any potential excess wear and use on your vehicle and complete any required repairs.
- Make sure that all contracted payments and miscellaneous fees are paid to LFS.
- Schedule your complimentary inspection appointment 15 to 60 days before your maturity date. To schedule an inspection call AutoVin at (855) 90-MY-LFS.
- Schedule a turn-in appointment for your vehicle.
During your inspection and return:
Be sure to bring the following with you to both your inspection and lease return:
- All set of keys (master/remote/valet), if applicable
- Owner's Manuals
- Any original equipment on your vehicle at lease inspection (radio, headrests, 3rd-row seat, tonneau/cargo cover, etc.)
- Toolkit and spare tire, if applicable
- Ask the dealer to record the mileage, and don’t forget to sign the Odometer Disclosure Statement and ask for a copy
Final billing and early return:
- LFS will send you a Lease End Invoice if you have any unpaid payments, late fees, and miscellaneous charges
- If you had a security deposit, it will be returned to your home address via check. It will be used to first pay any Lease End Invoice charges, if applicable.
- If you have been making automatic payments through Lexus Financial Services, be sure to remember to cancel electronic payments
Lexus Lease Return FAQs
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Although it may seem obvious, this term is in reference to damage that is beyond normal wear and use is considered excessive. For a complete definition of what’s considered “excess wear and use”, please refer to the Wear and Use Guidelines (click to download - https://www.lexusfinancial.com/content/dam/nextgen-shared/lease-end/20-025_Lexus_Lease-End_EWU.pdf).
Yes! While we recommend scheduling an appointment, our team is dedicated to providing you with friendly and efficient service to help you get behind the wheel of your next Lexus.
This is the date when your lease agreement ends and your vehicle should be returned to a Lexus dealer (unless you choose the option to purchase your leased vehicle). You can find this information in your original lease agreement, online by registering at LexusFinancial.com, or by calling us at Lexus of Akron-Canton.
Depending on your situation, you may qualify for early lease return. Simply contact us at Lexus of Akron-Canton and one of our sales representatives will be happy to discuss your options with you.