Turn On Time Lease

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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
As stated in your lease contract, you must turn in your vehicle at the end of the leasing term. While repercussions and penalties are further stated in your contract, you can expect significant penalty fees or a repossession if you do not return the car, as the vehicle is not yours if it is not paid for.
In the context of car leasing, it can be slightly different. If you are a 'regulated' customer, then you will have a 14-day cooling-off period. This means that you have 14 days after you sign your order to cancel completely without penalty. Once those 14 days have passed, you cannot cancel without penalty.
It's simply not true unless that provision is provided to you in writing (not common) or if you live in California and have specifically purchased a return option as part of your purchase or lease. There are no laws that allow a car deal to be canceled in any amount of time after signing and possession.
If you fail to return your lease and do not contact the bank to work out a purchase or lease extension, the bank can repossess the car. The terms of repossession are further discussed in your contract, but usually one missed payment is all it takes.
Unfortunately, there is no grace period or cooling-off period for automobile purchases or leases, unless such a right is specifically given to a customer in writing. Grace period more accurately refers to the time that a finance company allows between the time a payment is due to the time it is considered late.
There are no laws that allow you to terminate the car lease after 24 hours or 3 days of the deal. It is only possible if it is written on the contract in the 'return option' portion. So, in short, there are very limited chances you can terminate the car lease within a day of the purchase.
If you can afford to buy out your lease, you have the option to return your leased car to the dealership. Provided you pay the difference between the amount you have paid to date and the amount you owe for the remainder of the lease, your credit will not suffer when you return the vehicle.
If you're nearing the end of your lease, here are some tips to help avoid fees from the car dealership: Remove any personal items and wash the car, thoroughly. You want to give a great impression when you turn it back in to the dealer. It's best to present it in the best light possible upon return.
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