Lease-End Options
Your lease-end process doesn't have to be stressful by any means. In fact, it's quite the opposite. There are options available to you, which we've laid out below in a simple step-by-step guide.
Returning your leased vehicle:
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Contact your local GM Dealer
A few months before your lease expires, contact your local GM Dealer to set up a lease-end consultation appointment. This will ensure all of your questions and/or concerns are answered before you begin your search. At this appointment, you can take the opportunity to test drive any vehicles in our 2012 vehicle lineup.
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Check for excess wear
Excess wear is anything beyond the normal wear that a vehicle endures, and can be caused by neglect, abuse, damage or poor maintenance.
To protect yourself from excess wear, keep your vehicle running at its best by following your vehicle's maintenance schedule and by performing any required repairs at your local GM Dealer.
You should check for excess wear - either on your own or with the assistance of your dealer - before returning your vehicle. That way, if excess wear is found, you'll be able to make repairs before returning your vehicle, avoiding excess wear charges.
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Return your vehicle
Once you've returned your vehicle, it will be inspected by a third party to identify any outstanding excess wear. You'll then be able to formally terminate your lease by paying any applicable lease-end fees and taxes.
Download and print our Excess Wear Table
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Calculate extra mileage
You may also have to pay a charge if you have exceeded the mileage limit that was agreed upon when you first started your lease. Please refer to your lease agreement for applicable fees, which can range from $0.10 to $0.18 per extra km.
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Purchase your next vehicle
To help you decide, we've created the Virtual Showroom. There, you're able to choose what's most important to you and identify the vehicle that has everything you're looking for.
Visit the Virtual Showroom
If you're happy with your current leased vehicle and would like to keep driving it, then buying out your lease may be the right option.
To buy your leased vehicle:
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Pay the option to purchase price
Your option to purchase price (plus applicable taxes and fees, if any) is a charge that was detailed in your lease agreement.
You can either pay the option to purchase price in full or have your Dealer assist you in setting up a financing plan.
The benefits of buying out your lease:
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Less worry
If you decide to buy your leased vehicle, there's no need to have it inspected and you don't have to worry about excess wear or excess mileage charges.
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Your lease can be transferred
An immediate family member or a co-lessee can also buy out your lease for the same buy-out price.
When you lease
an eligible GM
vehicle:
- You benefit from a low down payment
- You get to drive a new vehicle more often
- And you don't have to worry about resale or trade-in hassles
How leasing works:
- When you buy a car using traditional financing, monthly payments are based on the whole value of the vehicle plus interest
- When you lease a car, your payments are based on the portion of the vehicle you expect to use (plus interest) over the lease term
- Lease terms are usually 36-48 months
Leasing fine points:
When you lease a vehicle you do not own the vehicle and therefore it is likely to have certain restrictions. For example:
- You may be obligated to fulfill certain maintenance requirements
- There may be restrictions on the kilometres you can drive
- And at the end of your lease term when you return the car, you may be charged for any excessive wear and tear
When you purchase finance a new GM vehicle:
- You have the freedom to drive your vehicle for more than just a few years
- You don't have to worry about the penalties of a lease (i.e. excess wear and extra mileage charges)
- You can customize your vehicle and alter its appearance
- You own your vehicle at the end of your contract term
Plus
- You have the flexibility to sell or trade in your vehicle at any time during your contract term
- And since your payments can be spread over a longer period of time, you can make lower monthly payments than you would if you had chosen to lease
Find out more about purchase financing
Discover the Virtual Showroom
See our entire
Chevrolet
lineup in the Virtual Showroom and search for vehicles based on body style, price, seating capacity and more.
Discover our new lineup
Locate a Dealer
If you're looking to purchase a new car or truck or if you'd like service for your current
Chevrolet
vehicle, our network of dealers is ready to assist you.
Enter your Postal Code
If you have any more questions that haven't been addressed on this site, please consult our Frequently Asked Questions. You can also contact us directly and speak to one of our Customer Care Ambassadors on our Live Chat.