08.25.06
After the Auto Lease is Signed, What’s Next?
What You Need to Know After the Vehicle Lease Deal is Done
So you’ve signed your your auto lease agreement with the leasing company or through the dealership, and you’re about to drive out of the lot with your new auto lease. So now all that’s needed is to take care of the vehicle, baby her, keep a watchful eye on the miles or km, and simply return it at lease end (or auto lease swap)…right?…well, sort of…but what happens once the ink dries on the lease contract?
Once the auto lease is signed, this is only the beginning of your car lease. Once the auto lease is signed between the consumer and dealership, the auto lease contract is sent over to the leasing company. Once this happens, any concerns about the auto lease is now between you and the leasing company, not the dealership. Remember, the dealership only functions as an agent.
Well, that’s not totally true. You would want to contact the dealership about your auto lease regarding any concerns you have about the cars condition – ex. Issues related to the vehicles warranty repairs, recalls, parts questions, etc.
There is also the auto lease grace period. Sorry, the rumor of an auto lease grace period just doesn’t exist. If you decide you no longer want your car lease once you’ve signed the lease agreement, unfortunately there is no grace period in which you can cancel. Once you’ve signed the lease agreement / contract – that’s it, it’s legal and binding.
Learn more on auto leasing, what happens after the auto lease is signed, how to auto lease swap and more.