Subaru End-of-Lease information in Highland Park
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Through its Subaru Motors Finance program, Chase provides auto financing and leasing to Subaru customers. See our dealership to learn more about the program and about Subaru vehicles.

Know Your End-of-Lease Options

As you get closer to the end of your lease, it's important to understand your options so you can choose the one that's best for you.

• Option 1: Bring your Subaru to our dealership and lease or purchase a new one.

• Option 2: Purchase your leased Subaru.

• Option 2: Return your Subaru.

If you choose to return your leased Subaru there are some things to know:

Pre-Inspection

About 45 to 50 days before your lease maturity date, call us and we will help you schedule a courtesy pre-inspection of your leased vehicle with an independent third-party inspection company. This process will provide you with a thorough evaluation of the wear and use on your vehicle to assess potential lease-end charges.

When the inspection is complete, the inspector will provide you with a condition report. This report will detail any wear and use items the inspector found that you may be billed for at lease end. The inspection report is not a bill and, therefore, will not show any amounts.

Excess Wear and Use Statement

Two to three weeks after the pre-inspection, you will receive an Excess Wear and Use statement. This statement will provide a repair estimate on all excessive wear or use items that were detailed on the condition report you received at time of pre-inspection. While this is not a bill, these are the amounts that will be factored into your final bill at lease end. This statement doesn't factor in the $1,000 wear and use waiver that's part of your lease (see your lease contract for exclusions). Your $1,000 wear and use waiver will be factored in, if applicable, to your final bill. However, with this information, you can decide if it's in your best interest to repair any of the items before returning your vehicle.

If you choose to make repairs to your vehicle, contact Subaru Motors Finance before returning the vehicle. Subaru Motors Finance will verify the repairs and apply any appropriate credits to your final end-of-lease bill.

Returning your leased Subaru

Before your lease's scheduled maturity end date, contact our dealership to make arrangements for the return.

On the day you return your vehicle, remove all personal items from your vehicle, place the owner's manual in the glove box and turn in both sets of keys to the vehicle. You may also be required to remove the license plate and return it to your state's motor vehicle department.

Tips for a Smoother End-of-Lease Process

Review these guidelines for a hassle-free end-of-lease experience:

Your Final Payment

Since the last payment on your leased Subaru is due one month before the actual lease end date, it's important that you remember to cancel any recurring payments you may have set up to avoid overpaying your lease account.

If you have chosen to return your Subaru to our dealership and purchase or lease a new vehicle, there will be a payoff request submitted by the retailer to receive a complete payoff including all account credits. This option will not generate a refund of an overpayment as all credits will be to include in the new contract agreement OR an end of term bill for mileage, wear and use or disposition fees.

If you have chosen to return your vehicle, any overpayment should not be included in a payoff quoted to the retailer AND you will receive an end of term bill for mileage, wear and use of disposition fees. If you have a credit on your account at the time of turn in, please tell us you expect these funds to be returned. Make sure you contact us with your return/turn in information.

Early Termination

An early termination occurs if you return your lease 31 or more days before your scheduled maturity end date. If you choose to return your vehicle early, you may incur early termination charges.

Note: if you, or our dealership as part of a trade-in, buy out your lease it is not considered an early termination.

End-of-Term Billing

Based on the terms of your lease contract, your lease-end bill may include charges for outstanding payments, taxes, excess mileage and excess wear and use. There may also be a $300 disposition fee. Please review your contract carefully so you'll know what charges you may be billed for at the end of your lease. We should not charge you any fees when you turn in your vehicle.

Extending Your Lease

Once you're in the final 30 days of your lease, you may request to extend your lease a maximum of five months. Federal regulations prevent a lease account from going beyond the defined extension period. If you exceed the lease extension limit, your vehicle may be repossessed, you may incur additional end-of-lease fees and your credit may be negatively impacted. Our acceptance of lease payments after the lease maturity scheduled end date does not give you the right to keep the vehicle and it does not mean that we agree to extend the lease term. If you have an approved extension on your lease you still have the same lease end options, as detailed above, at the end of your extension period.

Odometer Statement

When you return your leased vehicle, you must complete and sign an odometer statement.

Source: Subaru Motors Finance