Returning a damaged car at the end of your lease agreement is a sure way of paying a hefty fee when your lease expires. The best way to avoid these extra costs is to treat the vehicle in the same manner you would treat any car you rent. Here are a few ways to cut down on these extra costs.
Read the lease agreement carefullyNot reading the details included in fine print is one way to inadvertently get yourself into trouble. Be wary of their definitions when they mention that the vehicle has to be returned in ‘original condition’. Some of them might charge you even for the slightest damage.
Clarify the terms of their insurance scheme that are applicable to you. These details will be important when you apply for insurance. If not you might end up paying for something you are already insured for. Vehicle insurance may or may not apply to you if you are on a monthly car leasing in Singapore scheme, but in this case you need to be extra careful. If your insurance includes ‘gap insurance’ or ‘waived gap liability’ clauses that means you do not need to pay if your vehicle gets stolen or wrecked beyond repair.
If there are any grey areas clear them up and have them in writing from the start. It is very easy for the person who is leasing the vehicle to manipulate words in the contract in their favour.
Maintenance of the vehicleA leased vehicle is typically brand new, so there is very little probability that you will encounter any serious problems. However, this does not mean that you must skip the regular visits to the mechanic that your leasor has recommended. Usually fixing problematic vehicles is the sole responsibility of the car owner, so if these visits are ignored you might be charged for any irregularities that occur due to lack of maintenance.
Keep away from bird droppingsBird droppings contain acids that can easily burn through your car paint or wax, so the best option is to clean the droppings as soon as possible.
Protect from the weatherDuring the winter season you may be tempted to just park your car in the garage and not clean it. This should be avoided as even accumulated dust can damage the car surface.
You can’t choose what to repairAll damages to the vehicle during the time you use it must be compensated. You can’t choose to ignore the tiny damages like you would if this was your car. If you have a history of damaging the car and is on a monthly car rental scheme be warned that you will have to pay a heavy fine for all these damages to a car solution provider.
Always keep in mind that leasor expects you to return the car in good condition. Try to avoid as much damage as possible.