Lease turn in

so... anyone ever do a lease turn in for military deployment? Any tips? I gotta undo TRD intake, avid light bar, light bar, LED headlights, hid fogs,6 speakers and clean off some stickers. Kinda sad... getting a short notice deployment that I was not expecting.. wasn't even in the game plan but it is what it is. I hate to use the option, but makes no sense to pay it when it's sitting there.

I plan on putting the payment in the account for a down payment on a pro... I may do another TRD OR and just use the $ to put the TRD pro shocks and TRD exhaust.... decisions decisions. I don't want much if any lift (I don't want to have to life my kayak any higher.)

TIA

 

Why did you do all of the modifications if you planned on only leasing it? Won't you get screwed when it comes time to give it back?

 

Thank you for your sacrifice!! Sorry I don't have any info to help...

 

No... a common misconception on leases is that you cannot modify, you most certainly can.

As I said before I had no plans to deploy... putting it back to stock is a couple of wrench turns and about 3 hours of free labor.

 

I modified my lease, sometimes it makes more sense than financing then simply selling it a year or 2 later.

Does the US give better lease return penalties if it's broken early?

Some dealerships really want 3rd gens on their lots, so you'll have to speak to the finance department.

 

Thanks for your service OP. Sorry I don't have more to add. Be safe.

 

I wonder if there is some sort of military "way out" for situations like these.

 

Finance manager (ex military) talked me into leasing... he has his lifted and various other mods, and plans on buying after the lease.

Servicemember's Civil Relief Act (SCRA) allows you to terminate housing and vehicle leases for deployments greater than 90 days, because you are paying for use based on residual value. If you can't use it, you turn it in.

 

Thanks for the comments guys, it's a pleasure to serve. There are a lot of benifits that come with it as well. Again I had NO intentions on deploying and wanted to make this one last a while (i have been in 3 different vehicles since my return from Germany in 2014 and a lease was a way to make me stop my habits lol)

 

So... you can modify to your hearts content, but when it comes time to turn it in, you either then buy it, or make sure it's not modified and back to stock. Is that correct?

 

That's what I am tracking. Depending on the dealer they may give u a better value for tasteful mods and more value if turn it in(rebate)

 

I did it on a short notice mob in '07. And based on my experience it is a good reason to lease (I don't think I would have made such a clean break if I was financing a purchase).

I had a BMW Z-4, less than 1yr old and under 6k miles. I can't remember if it was the BMW T&C or Virginia law or the SMCRA but ending the lease early was super easy and BMW was very co-operative. Maybe its a BMW thing? (They are expensive, some say overpriced, but they have very good customer service). I just called them, 2 minute conversation, sent them a copy of my orders and we scheduled a turn-in inspection (At time and place of my choosing). They came to my work a few days before my last working day there. Inspection took ~10 minutes. After the inspection I just had to pick a date and dealer that I wanted to return it to. There it was like dropping a car off for service, but sadly never saw it again.

At the end of the day money-wise I made out fair (But keeping the car was not an option)
What I got:
- 100% of my security deposit back (No termination or cancellation fees).
- That year BMW leases came with pre-paid maintenance as a line item on the sticker, I got a pro-rated refund.portion of it back
What I lost:
- A lot of unused miles (That I paid for). I had a 4yr/40k lease, I had been saving all the miles for the summer and it was garaged all winter. Guy told me even though I was turning in early I still could have driven 39.9k miles w/o penalty (Damn).
- Taxes: Virginia is rough, they hit you for sales tax on lease same as if you bought and at what is basically full MSRP, so I was out ~$1.8k
- Fees: All those BS license, dealer, DMV and tags fees

 

I'm not sure what that means. (?)
Meaning you have less of a penalty, but less enough to make up for what you put in?

What if you hit the full lease term? Now they think it is more valuable and so your deal to buy might not be as advantageous?

 

So at the end of ur lease you pay the agreed upon residual value. If your car is worth more than the residual value, you get that back (miles-whatever). If it is worth less it's advisable you just turn it in and try to buy it back the next day.

 

It's been 10 yrs now, but when I turned mine in the inspection took ~10 minutes. It was clear the lease termination department is a whole separate entity and they have a structured SOP (Maybe it is a BMW thing IDK). The guy gave it the once over, mostly concerned about paint, body and damage. Started it (Didn't drive it) and took pictures. Things they specifically looked for: Windshield and headlights. (IIRC: if the BMW headlights were damaged replacements were ~$800 each and they were very particular about approved replacements glass), measured tire tread in like 8 spots on each tire and went over the wheels with a fine tooth comb (Were talking a BMW, so wheels/tires are fragile and $$$$). Surprising to me he specifically made sure I had all the keys, manuals and all that junk thats easy to loose. I'm sure I could have modded it and no one would have cared as long as it looked good and at least factoryish. FWIW: I was WAY under my mileage allotment but did not get any $ back.

 

Yeah, under mileage only matters if it brings the residual value up upon turn in after terms are met, not early.

 

I was kinda surprised the finance guy told me about the option and the protections under it if ur deployed... the act says I have to provide intent and orders in writing and turn in within 15 days

 

So no one ever did this here huh?

 

Turned the lease in with no fees was really easy... of course a month in my wife gets a bill for 750 for (replacing the front end due to damage) I turned the car in with no damage and have the paper... also pictures. I had the local jag lawyer contact the company (which Toyota says is not them). It seems to have went away... we will see.

 

I plan on getting a pro when I get back... with no payment and up in pay I'll have 20k down!