Car Leasing 401 - After the Lease Deal
What You Need to Know After the Vehicle Lease Deal is Done
Once you’ve signed your lease agreement / contract, it is only the beginning of your car lease. Once the lease is signed between the consumer and dealership, the lease contract is sent over to the leasing company. At this point, any concerns about the lease or questions, should be directed towards the leasing company. Remember, the dealership only acts as an agent.
The dealership should be contacted only for concerns you have regarding your cars condition – ex. Issues related to the vehicles warranty repairs, recalls, parts questions, etc.
Lease Grace Period
Sorry, 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.
If the consumer must break their lease, it’s advised the longer you can wait the better. Terminating the lease agreement to early can be very costly.
However, as we mentioned previously in this guide to auto leasing, there are companies and websites available that bring buyer and sellers of leases together for precisely this type of situation. These sites help consumers find people wanting to take over a lease from another consumer who is already bound to a car lease agreement. These sites are commonly referred to as transfer a car lease, break a car lease, bust out of a car lease, swap a car lease type websites.
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