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Avoiding Unnecessary End-of-Lease Costs

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If possible and if applicable, make minor repairs to your vehicle before you turn it in. Many times, if the leasing company handles these repairs, it could end up costing you much more than if you had arranged for the repairs yourself. And in some situations, your insurance may cover whatever repairs need to be made, which could potentially save you hundreds of dollars in the long run. A good industry rule-of-thumb regarding leased vehicle repairs is this — if the size of the damage on your car can be covered up with a standard-sized credit card, don't repair the vehicle. If, however, the damage to the vehicle is larger than a standard-sized credit card, consider handling the repairs yourself.

Be sure to pay attention to your mileage limitations during the course of your lease and avoid driving your vehicle outside those limitations whenever possible. Mileage penalties are expensive, so if you can, limit the miles you drive and be sure to pay close attention to the mileage restrictions set forth in your lease contract. Typically, the more expensive the leased vehicle, the more expensive the mileage penalties.

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