Leases allow you to get into a new vehicle without having to break your budget. However, it’s important to remember they can come with fees, such as the Hyundai Motor Finance disposition fee. Heritage Hyundai Towson is outlining how the lease return process works and the potential fees you may incur.
Returning Your Lease
When you first sign a lease, you’ll agree to a lease length, also known as its term. For most lessees, this term is two or three years. At the end of your lease, you’ll need to visit our dealership to return your lease or purchase it. If you return it, we’ll carefully inspect it and settle any remaining fees.
Disposition Fee
When you return your vehicle, you’ll owe a disposition fee, which covers the cost of reconditioning your vehicle before we sell it again. This could include anything from minor repairs to cleaning your vehicle. If you plan to purchase the vehicle, it's typically waived.
Fee Costs
The cost of the disposition fee can vary. It’s important to check your lease contract, so you know what to expect. For some lessees, the fee will simply be deducted from their security deposit (if their lease included one). There are also instances wherein the fee could be waived, if you’re prepared to lease or finance a new Hyundai vehicle.
Additional Fees
It’s important to note that the disposition fee only covers the cost of ordinary wear and tear. If your vehicle has extensive or unusual damage, you’ll likely owe excessive damage fees. You’ll also owe fees if you’ve exceeded your allotted mileage.
Lease a New Hyundai Vehicle in Towson, MD
We offer a transparent leasing process. That way, you won’t have any surprises when it comes time for your lease return. Visit Heritage Hyundai Towson to confidently lease a new Hyundai vehicle today!
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