LEASE END OPTIONS

What should you do with your current leased vehicle?

Whether this is your first lease or tenth your have options. Rest assured - your lease-end process can be straightforward and easy.

Here is some information to help you make your decision about your leased vehicle before your vehicle turn-in date arrives.

You Have Options

OPTION 1:

Return your leased vehicle and lease/purchase a new one.

1. Contact Fox Chevrolet Ltd. a few months before your lease expires, contact us to set up a lease-end consultation appointment. This will ensure all of your questions and/or concerns are answered before you begin your search. At this appointment, you can take the opportunity to test drive any vehicles in our lineup.

2. Check for excess wear. Excess wear is anything beyond the normal wear that a vehicle endures, and can be caused by neglect, abuse, damage or poor maintenance. To protect yourself from excess wear, keep your vehicle running at its best by following your vehicle's maintenance schedule and by performing any required repairs at our service or collision centers. You should check for excess wear - either on your own or with the assistance of your dealer - before returning your vehicle. That way, if excess wear is found, you'll be able to make repairs before returning your vehicle, avoiding excess wear charges.

3. Return your vehicle. Once you've returned your vehicle, it will be inspected by a GM Financial authorized inspection company to identify any outstanding excess wear. You'll then be able to formally terminate your lease by paying any applicable lease-end fees and taxes. Download and print GMF's Excess Wear table

4. Calculate extra mileage. You may also have to pay a charge if you have exceeded the mileage limit that was agreed upon when you first started your lease. Please refer to your lease agreement for applicable fees, which can range from $0.16 to $0.20 per extra km.

5. Purchase or lease your next vehicle. Our sales staff are here to help you to choose what's most important to you and identify the vehicle that has everything you're looking for.

OPTION 2:

Buy out your leased vehicle If you're happy with your current leased vehicle and would like to keep driving it, then buying out your lease may be the right option.

1. Visit Fox Chevrolet Ltd..

2. Pay the option to purchase price. Your option to purchase price (plus applicable taxes and fees, if any) is a charge that was detailed in your lease agreement. You can either pay the option to purchase price in full or have our finance team assist you in setting up a financing plan.

The benefits of buying out your lease:

1. Less worry If you decide to buy your leased vehicle, there's no need to have it inspected and you don't have to worry about excess wear or excess mileage charges.

2. Your lease can be transferred An immediate family member or a co-lessee can also buy out your lease for the same buy-out price.

OPTION 3:

Return your leased vehicle

Remember to bring your owner's manual, extra set of keys and any other accessories that came with the vehicle.

1. Contact Fox Chevrolet Cadillac Ltd., a few months before your lease expires, contact us to set up a lease-end consultation appointment. This will ensure all of your questions and/or concerns are answered before you drop off you vehicle or begin your search for a new GM vehicle. At this appointment, you can take the opportunity to test drive any vehicles in our lineup.

2. Check for excess wear. Excess wear is anything beyond the normal wear that a vehicle endures, and can be caused by neglect, abuse, damage or poor maintenance. To protect yourself from excess wear, keep your vehicle running at its best by following your vehicle's maintenance schedule and by performing any required repairs at our service or collision centers. You should check for excess wear - either on your own or with the assistance of your dealer - before returning your vehicle. That way, if excess wear is found, you'll be able to make repairs before returning your vehicle, avoiding excess wear charges.

3. Return your vehicle. Once you've returned your vehicle, it will be inspected by a GM Financial authorized inspection company to identify any outstanding excess wear and/or excess mileage. You'll then be able to formally terminate your lease by paying any applicable lease-end fees and taxes.

Learn more on official GM Financial page

*GM Financial may modify this process whole or in part at anytime without notice. Contact our Finance & Insurance staff If you have any questions