It’s part of our car buyer’s glossary series to break all the prerequisites to find out if you’re buying a new or used car from a dealership.
Your lease has expired, and you have returned to the dealer to return your car. You know it’s in good condition and you haven’t exceeded your mileage. But now you are asked to pay $ 300 to $ 400 for something called deposit fee. What is it?
Great question. What is it? And why should I give it up?
You may not have. But first, here’s what’s happening. A disposal fee is a flat fee that is charged by the leasing company at the end of the lease. This is to cover the cost of reselling the car. It is almost inevitable.
Yes. There are several ways to avoid this fee. For one, you can buy the car for the remaining price. Since you are buying it right then and there, there will be no resale costs, and the fee should be waived.
Another way is to get another lease from the same dealership, a possible but not sure way to avoid fees. Leasing companies are making you money by leasing cars, so it is in their best interest to keep you as a continuous lease customer.
That seems straightforward enough. Do I need to think about anything else?
If you are concerned about the final lease fee, make sure you really understand the mileage and extra wear parts of your lease agreement. Read it carefully. You can add this fee! But if you move away from your lease, the nature fee is only part of the business.
Is there anything I can do to avoid dropping hundreds of dollars at the end of my lease?
Temperament fees are not usually negotiable, but you can ask. You can even roll it into the car’s capital costs, increasing your monthly payments a bit and spreading the pain. You pay interest on the fees you roll, but it doesn’t matter … we’re talking extra $ 11 or more per month. If you are not planning to buy a car or take a new lease and you know that in the future, rolling the lease fee may work for you.