Limiting additional fees when your lease is over
When that day comes, you might find yourself paying $300 disposal fee, $1500 for extra miles, and another $400 to fix little odds and ends. $2200 is a lot to spend after paying for a few years when you are walking away without the car.

These are a few things that can bring about those extra charges, and a few ways to avoid them.

Excess mileage fee: Nearly every lease has allowed miles. Most actually have low miles (10000/year) clauses for less, and normal miles (15000 miles/year). They often allow you to purchase additional miles as well. When signing the lease, make sure you are lower than the mileage allowed. And know well, how much extra miles will cost you. If close to over at some point on average, it might be wise to get a second vehicle to cut down on the leased vehicle’s mileage. Often the fees will be over $.20 per mile over what they expect.

Disposition fee: At lease-end, there is usually a disposition fee. This is where you pay for the dealer to sell the lease-end vehicle. They will clean it up, make it smell nice, put new tires on it, buff it well, and send it to an auction cheap. This will be in your lease contract, and you should be well prepared for it. It’s set from the get-go when you sign the contract.

Costs of wear and tear: When you turn in the vehicle, it’s expected to be in the condition described in the contract, usually under the wording “reasonable wear and tear” or similar. They are seldom anywhere near specific and leave a lot of flexible room out for the agent to add fees to repair things. While legitimate, they make a profit on the parts and service usually, and it makes their vehicle worth more at auction on resale. When signing, be very careful, and be sure you know what to expect at lease-end in this area. Ask others that have leased with the same dealership and Lease Company. Find out their lease-end experiences. Having your own professional appraisal might also help steer this.

If you have had a situation where your vehicle was damaged, you will have even more concerns. Maybe your insurance company will pay for repairs, or maybe not. In the end it might still not be as expected at lease end. Or you might be better off buying it out, or simply repairing it in full before bringing it back at lease end.

In final, the amount left of the security deposit you paid up front you get back after the fees are deducted from it. Unless it’s less than the fees, then you pay them out of your pocket additionally.
 
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