Lease Termination in White Plains
Lease termination occurs when the contract between lessee and car leasing company comes to an end. This can occur either because the duration of the lease period is over or because the customer wants to terminate the lease early on request. In rare occasions, it can also happen if a customer is unresponsive and refuses to make timely payments on the lease in which case, an auto leasing agency would be forced to withdraw the lease and gain possession of the car before the lease period ends. The most common occurrence of course is when the duration of the lease period is up and the customer is meant to rightfully return the vehicle back to the car leasing company.
The customer also has the option of purchasing the car by paying the residual price which is a value based on the depreciation of the car that is set by an unrelated third party. When a lease contract ends, there are a number of factors that need to be looked into. Car leasing companies need to ensure that the car hasn’t suffered any serious damages that heavily depreciate the value of the returned car. Similarly, customers have the responsibility of maintaining the car and ensuring it is in adequate condition on lease termination. They also owe it to themselves to ensure that the car leasing service they work with treat the inspection of the car justly and do not impose fees where it is not due.
To find out more on lease terminations and other factors pertaining to car leasing, you can speak to one of our car experts on 631-509-9888.
Retaining your car with White Plains Car Leasing
At White Plains Car Leasing, we maintain a simplified termination process and look to prevent liability to our customer as much as we can by absorbing any costs that we can afford to. One of the areas that our lessees look into is retaining the vehicle. With White Plains Car Leasing, this should be something to consider even if you are not particularly interested in holding on to your vehicle. Our residual price tends to be lower than our competitors so it may pay off if you choose to buy the car at the end of the lease. Once the car is yours, you can look to sell it and make some money out of the deal or continue to use it. While our rates are priced based on actual market value, we are constantly looking to offer more benefits to our customers and one way we do this is by offering the vehicle at a slightly lower price than what a typical car leasing company would give you. To learn more, call us on 631-509-9888.
Speak to us for more information
It’s unfortunate that car leasing relationships tend to turn sour at the very last moment when the car is due to be returned to the car leasing service. At White Plains Car Leasing service, we have maintained multiple measures to ensure this does not occur. We have been able to retain much of our customers because we offer a very satisfactory lease termination experience. Call us on 631-509-9888 to get started with your auto lease.