Car lease end checklist for the last few months

When a lease ends, you either return the car and pay any end-of-lease charges, or buy it if your lease allows that. The charges at return are for miles over the limit, wear beyond what the lease calls normal, and any disposition fee the lease lists. All of these are set by your contract, so start with it a few months before the return date.

The lease itself

• Find the lease and read its end-of-lease sectionIt says where to return the car and what charges to expect. If anything is unclear, ask the leasing company.
• Find the mileage limitMost leases allow 10,000 to 15,000 miles a year. Multiply the yearly limit by the number of years on the lease to get the total.
• Find the disposition feeThis is a charge for returning the car, due at the end if your lease lists one. The lease gives the amount.
• Check for a purchase optionThe lease says whether you can buy the car at the end and at what price.
• Find the end dateA typical lease runs two to four years. Put the return date on your calendar now.

The car

• Check the odometer against the limitYou pay a charge for each mile over the total allowed.
• Read how the lease defines excess wearThe leasing company usually decides what counts as excess wear and tear. Anything the lease doesn't define as excess is normal wear.
• Look over the car in daylightWalk around it for dents, scratches, worn tires and stains. Compare what you find with the lease's definition.
• Take photos on the return dayPhotograph each side, the wheels, the interior and the odometer. Keep the photos with the lease, along with a copy of any inspection report the leasing company gives you at the return.
• Gather the keys and manualsFind every key, fob and the owner's manual before the return appointment.

If you want out early

Ending a lease early can bring early termination charges, and they can be large. Returning the car doesn't end the payments. Read the early termination section of the lease before you decide anything.