END OF LEASE PROCEDURE The end of your lease may be a confusing time. We are here to help.
Lets look at the options:
1. Lease or Purchase a brand new vehicle.
2. Purchase a pre-owned vehicle. 3. Purchase your current leased vehicle. 4. Return your leased vehicle.
*Whichever option you choose, we can answer all of your questions. Call and ask for our Leasing Specialists at 615-868-7990.
FAQ: Frequently Asked Questions
Q: I am nearing the end of my lease, what should I do?
A: The end of your lease is an exciting time with tons of options. Contacting our experienced Leasing Specialists will save you time and help you to avoid frustrating surprises. Every customers circumstances are different and different options work better for different people. Our leasing specialists are trained to help you identify all your options.
Q: I purchased my lease at another Toyota dealership, can I return it at Nashville Toyota North?
A: Absolutely. We will gladly take the vehicle in and help you fill out the necessary documents to terminate your lease.
Q: I am nearing the end of my (Toyota, Honda, Hyundai, Kia, Nissan...Etc) lease. Can I return it to you?
A: Yes. If you are looking to purchase or lease a Toyota, we can handle your entire lease return process - even if the lease your turning in is not a Toyota. Our Leasing Specialists make returning any leased vehicle effortless.
Q: What is the Toyota lease return process?
A: A Toyota lease return consists of a simple visual inspection of your vehicle, taking record of the current mileage on the vehicle, and signing a receipt of return and an odometer disclosure. This is the first step in the termination of your lease.
Q: What if I am over the mileage allowed by my lease and/or there is excessive wear and tear to the vehicle?
A: Your mileage allowance and applicable penalty were predetermined at the inception of your lease. Toyota typically charges $0.15 per mile over your allowance, although this amount may vary. Wear and tear are generally determined to be excessive if there is damage to the car beyond reasonable expectation for the term of the lease. Toyota will bill you for the mileage penalty and excess wear and tear after the vehicle has been picked up from the dealership. (Often times you can minimize the cost out of pocket for a mileage penalty or excess wear and tear by using your leased vehicle as a trade-in. Rather than just returning the lease to Toyota.)
Q: Are there any other Toyota lease turn in or disposition fees that I should be aware of?
A: These fees are commonly known as disposition fees and are predetermined at the inception of your Toyota Motor Credit Lease. Please refer back to your original lease contract to determine if such a fee is applicable.
Q: What should I bring to the dealership with me when exploring lease end options? (Return, Trade, or Purchase.)
A: Bringing your lease agreement, any recent inspection reports, spare keys, vehicle manual, license, insurance, and registration can be helpful to expedite your time at the dealership. Toyota may charge your for missing items such as spare keys or other equipment that came with the vehicle.