Lease Return Options

Couple with a Lexus IS

Return Your Lexus Lease
at North Park Lexus of San Antonio

After many miles of driving your luxurious Lexus around San Antonio, the time has come to return your leased Lexus. We know you might not be ready to give up your car, or that you may be excited to upgrade to the latest iteration of your vehicle. We also know that you might be a bit confused about how to navigate the lease-end process. Well, lucky for you, the North Park Lexus of San Antonio team is standing by. The team of Lexus lease professionals at our San Antonio Lexus dealership has plenty of experience helping valued clients navigate the Lexus lease-end process, and they’re more than willing to assist you next. When you receive a call, letter or email from one of our sales consultants or Lexus Financial Services saying your lease-end date is nearing, don’t fret — stop by North Park Lexus of San Antonio, and we’ll help you discover all the lease-end options available to you.

man driving lexusMan with Lexus GX

Step 1: Research Your Lexus Lease Return Options

If your lease-end date is nearing, it’s a great time to consider the wealth of options available to you. The North Park Lexus of San Antonio team would be glad to help you either buy your leased Lexus or lease a new Lexus, whichever you prefer. It all depends on what kind of vehicle you’re hoping to drive for the next few years. If you’ve fallen in love with your Lexus and can’t bear to part with it, then you don’t have to. We can easily help you buy your current Lexus so that you don’t have to make any changes to your driving style. Have you been considering upgrading to the latest model year of the car or SUV you’re currently driving? If not, that’s another great option to consider. We can help you lease a new Lexus that comes with all the latest, most innovative safety and multimedia technology available today. Plus, you may be able to get in the driver’s seat of that brand-new Lexus for a similar price to what you’re paying now.

Start exploring our new Lexus inventory online to see what’s available to you, and ask our Lexus sales and leasing consultants for information when you’re ready. Until then, consider the difference between buying your current leased Lexus and upgrading to a new leased Lexus.

IF you Buy your Lease IF you Lease a New Lexus
Monthly Payments You’ll be responsible for paying off the balance on your account. You’ll also be required to pay Sales Tax on the Residual Value or current Payoff balance. Please note that your balance may be higher or comparable to what your lease payments were, depending on your financing rate and length of the new loan. Leasing a new Lexus will give you lower monthly payments than financing a Lexus. Payments will be made on the portion of the vehicle you expect to use based on mileage allotment, current monthly incentives from Lexus and Residual Value.
Payoff Process You’ll pay off the balance on your lease or buy it out for the Residual Value set by Lexus. Additional fees may apply. You’re content with keeping your Lexus in factory condition. You will not be allowed to customize your vehicle aside from Lexus Window Tint or adding OEM Lexus parts.
Customization You can customize your Lexus as much as you like with a wrap, technology or other modifications. You’re content with keeping your Lexus in factory condition. You will not be allowed to customize your vehicle aside from Lexus Window Tint or adding OEM Lexus parts.
Warranty Your car will be past its factory warranty eventually. If you’d like, you can buy an extended coverage contract from our Finance Consultants. Your Lexus will always be covered under warranty, which allows you to pre-plan vehicle expenses.
Benefits from Lexus Financial Services You can receive regular finance incentives and purchase an extended coverage plan from us if you wish. If you turn in your lease and walk away, your disposition fee will be mailed to you from LFS. Your disposition fee is waived. Your new Lexus lease includes GAP coverage. Plus, as a return Lexus lease customer you may receive lower rates. Tax benefits may also apply for businesses.

Lexus SUV

Step 2: Lexus Lease Return Inspection

When you return your leased Lexus, you’ll be required to get an inspection prior to turning it in. During this inspection, you’ll be informed of any potential Excess Wear and Use charges that Lexus Financial Services may require of you once your vehicle is turned in. If you’d like, the Lexus lease and sales consultants at our San Antonio Lexus dealership can provide you with a complimentary walk-around “inspection.” At this time, we can make you aware of anything that Lexus Financial Services may consider an issue when determining Excess Wear and Use charges. If you’d prefer, you may also schedule a complimentary lease return pre-inspection with Lexus Financial Services. This appointment should occur 15-60 days before your lease-return date. During this appointment, a third-party will come to your home, office or other convenient location to inform you of any excess wear issues. After learning of these issues, you may schedule an appointment at our Lexus service center if you’d like to take care of them prior to turn-in.

Learn more about what Lexus Financial Services may consider Excess Wear and Use from the LFS Lease Manual, or take a look at our overview:

  • Glass Damage: Cracks or damages to windshield, windows, mirrors or lamps
  • Exterior: Scratches or dents bigger than a credit card
  • Interior: One or more burns, tears, cuts or stains that are larger than a credit card
  • Accessories: Missing keys, floormats, books, remotes, tonneau covers or anything else that came with your Lexus
  • Broken parts or equipment; anything inoperative
  • Changes or customizations made to the vehicle
  • Damaged wheels or tires
  • Tires not specified by Lexus guidelines

Lexus UX

Step 3: Turn In Your Leased Lexus

Once you’ve made a decision about whether you want to buy your Lexus, lease a new Lexus or simply turn it in and walk away, you’ll need to simply finalize all the paperwork that coincides with that decision. Come see the Lexus sales and leasing consultants at our San Antonio dealership, and they’ll assist you with completing the necessary paperwork. If you’ve decided to refinance or purchase your lease, our finance managers can help complete the required forms. If you’re turning your leased vehicle in, we can help you finish the odometer statement and other lease return paperwork.

What Happens After My Vehicle Is Turned In?

Once your lease has been returned and all your paperwork is complete, you’re all set! You may receive a Lease End Invoice directly from Lexus Financial Services within a few weeks. This statement will notify you of any outstanding payments, late fees, unpaid taxes and Excess Wear and Use charges you’re responsible for. Simply settle with Lexus Financial Services, and your lease-end process will be complete. Still have questions? Contact North Park Lexus of San Antonio. We’re always here for you and happy to help with whatever you require!