Total cost of ownership is a computation to be done to avoid the additional cost as long as you use the services of leasing. Not only in the initial cost but the costs that may arise during the contract and it may be unpredictable if you did not know before.
$ 250 for the disposal of your vehicle, $ 1000 for extra miles you put on the clock and $ 200 to replace the bulb and the worn tires-lease agents continue to nickel-and-dime consumers when their lease runs out.
Here is an overview of what can trigger these costs, and some steps to take to defend themselves.
Disposition fee: leasing companies charge a fee if you choose not to purchase the vehicle at the end of your lease. Cost is defined as compensation for the cost of sales, or dispose of the vehicle. It typically includes administrative costs, costs to prepare the car dealer for resale and any other penalties. Make sure these costs are clearly stated in the contract and are useful to you before signing on the dotted line. At lease-end, you are left in no position to negotiate as the dealer can apply your security deposit towards this fee.
Excess mileage fee: Almost all leasing companies will charge a premium for each mile over the agreed upon mileage stated in your contract. This penalty can be as high as 25 cents per mile and can add up quickly. To avoid the risk of running thousands of dollars in excess mileage penalties at the end of your lease, always check the "miles per" fees in your contract and be realistic about your mileage before you sign any contract.
If you think the limit is not realistic considering the needs of your turn, then negotiate with the dealer to get a higher mileage or contract for an additional mile.
Excess tear-and-wear charges: Another potential cost at the end of the lease is any incidental damage done to the car during the lease. It is considered excessive damage done to normal tear and wear of the vehicle.
Note the use of the term "considered", "excessive" and "normal". There is no standard formula to define what is "excessive" and "normal" and it is up to the leasing company to assess - or considered - the damage and determine what they charge. This leaves you at the mercy of unscrupulous leasing agents who set stringent tear-and-wear standards. Make sure you read the description of the standards, understand them and agree.
If you rented vehicle is damaged before the end of the lease, you may find it cheaper to repair the damage yourself than pay excessive costs of leasing agents. In the event of a dispute at the end of your rental fee, obtain an independent third party to conduct a professional assessment detailing the amount required to repair the damaged parts or to the amount of tear-and-wear reduces the value of the vehicle.
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