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Follow on Google News | How to minimize penalties on your lease vehicle?This article will offer you some practical tips on how to minimize penalties that may occur on your vehicle when you are returning the lease back to the dealer.
By: SOS Car Loans Another likely expense comes from the scratches and paint repairs, the rule of thumb is if the scratch is deep enough where you can feel the groove with your finger nails. You should consider repainting the body panel to avoid any penalty charges, some times depending on the brand of the vehicle's manufacture will allow you to get away with small amount of body damage. You can usually get away with small amount of damage if you are leasing an import vehicle such as Honda, Toyota or BMW. Any vehicle with a high resell value will receive less in penalty charges because portion of the penalty will be absorbed by the resell value itself. Many people today are still under the false impression if they don't use up all the kms allowed from the lease, they will be entitled to some kind of compensation from the dealerships. This scenario is extremely rare in real life; unless the km traveled on the vehicle is less than 20,000 km you will not see any equity from your lease. If you are looking to refinance your lease, or pay the buy out amount for the vehicle, then you will not face any lease penalties at all. So the next time you are planning to return your leased vehicle, make sure all the major repairs are done prior to the end of the lease and don't be caught off guard with unexpected expenses. This article is brought to you by SOS Car Loans, we are your bad credit, no credit car loan specialist, visit us online today at http://www.soscarloans.com for more details. # # # SOS Car Loans is Toronto's leading no credit check car loan provider; we can approve everyone, even without a credit check. If you are tired of been turned down all the time, visit us online at http://www.soscarloans.com End
Page Updated Last on: Sep 10, 2010
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