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-   -   What would you do? WK2 lease end keep or not? (http://www.jeepgarage.org/f73/what-would-you-do-wk2-lease-end-keep-or-not-28870.html)

Sammzway 09-22-2011 03:58 PM

What would you do? WK2 lease end keep or not?
 
Hello guys and gals. So here's the dilemma I am currently facing. Our WK2 is only 6 months old and few months ago it was destroyed due to a stupid hail storm. Damage was about 6gz worth. I had to go through insurance company (obviously) and the reported damage will definitely show up on carfax. Now my question is this is my first leased vehicle, we were planning on returning this at the end of lease and picking up a Range Rover sport (for my wife). Now would the lease company charge us extra since its been damaged through hail storm? I mean the truck looks great minus a few weird spots here and there. The body shop did an OK job with it. It's my friend's body shop and he's willing to re-do the work but I told him not to. It's not noticable unless you're anal like me. My wife doesn't mind and since it's her truck, I am not going to go crazy. It does nag me deep inside when I drive it though but oh well, can't do anything about it. I'm willing to pay up to $2000 in wear and tear end of lease but if the bank charges us anything more than that ... well then i'll end up buying it off end of the lease and keeping it as a 3rd car or winter beater and just lease the RR sport for my wife.

I know I still have 2.5 years until lease ends but i'm planning ahead. Would it be a wise idea to keep the truck end of lease although it had hail damage repaired? I'm just a bit confused on which direction to go towards.

NHman 09-22-2011 04:29 PM

Re: What would you do? WK2 lease end keep or not?
 
It depends on acceptable level or damage and wear & tear the leasing companies allows. Towards lease end you should receive a template that can be held to the damaged areas. If larger you will be responsible for the repairs. The leasing company might provide you with the information now. I wouldn't disclosure the nature of the damage. Just that you are preparing the future.





Regards,
NHman

1200RT-P 09-22-2011 05:04 PM

Re: What would you do? WK2 lease end keep or not?
 
one of the best things about leasing (and why i lease), is when you return the vehicle, its the bank's problem, not yours. don't worry about the carfax report, because resale value is not your concern.

with that being said, the repair shop should have fixed the damage to a state similar to what it was in before the hail storm. make them fix their work, and next time don't mix business with friendship.

You will be charged for damages above normal wear and tear - any damage that *should* have been fixed by an insurance company is not wear and tear.

jeepster23 09-22-2011 06:02 PM

Re: What would you do? WK2 lease end keep or not?
 
Quote:

Originally Posted by 1200RT-P (Post 488668)
one of the best things about leasing (and why i lease), is when you return the vehicle, its the bank's problem, not yours. don't worry about the carfax report, because resale value is not your concern.

with that being said, the repair shop should have fixed the damage to a state similar to what it was in before the hail storm. make them fix their work, and next time don't mix business with friendship.

You will be charged for damages above normal wear and tear - any damage that *should* have been fixed by an insurance company is not wear and tear.

X2 as long as Insurance covered the entire amount of the damage I would have gone somewhere other than my "friends" shop. The only benefit of going to him was giving him the work and this benefitted you in no way. Now you are stuck between offending your friend or coming outta pocket to fix his screw up. Nothing good can come out of either of those two if you ask Me.

Sammzway 09-22-2011 07:48 PM

Re: What would you do? WK2 lease end keep or not?
 
Yeah, I actually did make a mistake of going to him for such a major repair. I mean the only thing I benefited from was having the truck back in 3 weeks compared to 3 months since every other shop around Queens and Long Island were booked. Either way, lesson learned.

I'm not TOO concerned since this vehicle will either be returned back to the bank or used as our 3rd vehicle.

Yes, I did receive a booklet with various measurements of wear and tear of what the bank will cover. I was just concerned about whether I would have been held liable for resale value decreasing due to hail damage or not. If you guys are saying that's the bank's problem then hell with it. I'm going to give this truck back eyes closed. Since this is a lease I wasn't TOO freaked out about the hail damage because at the end of it all, I really don't want to keep it end of lease. You guys rock!!!

1200RT-P 09-22-2011 09:25 PM

Re: What would you do? WK2 lease end keep or not?
 
Quote:

Originally Posted by Sammzway (Post 488732)
Yeah, I actually did make a mistake of going to him for such a major repair. I mean the only thing I benefited from was having the truck back in 3 weeks compared to 3 months since every other shop around Queens and Long Island were booked. Either way, lesson learned.

I'm not TOO concerned since this vehicle will either be returned back to the bank or used as our 3rd vehicle.

Yes, I did receive a booklet with various measurements of wear and tear of what the bank will cover. I was just concerned about whether I would have been held liable for resale value decreasing due to hail damage or not. If you guys are saying that's the bank's problem then hell with it. I'm going to give this truck back eyes closed. Since this is a lease I wasn't TOO freaked out about the hail damage because at the end of it all, I really don't want to keep it end of lease. You guys rock!!!

Your "resale" (residual) value is calculated at delivery .... its printed on your sales contract. The bank can't alter this number, just "fine" you for damages. If damage is repaired to "new" condition by a repair shop, you're good.

People online love to hate on leasing, but this is the main reason that I lease. Car values fluctuate so much that I'd rather give the bank the liability.

jgc4ever 09-22-2011 11:01 PM

Re: What would you do? WK2 lease end keep or not?
 
For Gods sake, have it fixed right.

1200RT-P 09-23-2011 11:12 AM

Re: What would you do? WK2 lease end keep or not?
 
Quote:

Originally Posted by jgc4ever (Post 488829)
For Gods sake, have it fixed right.

yeah ..... this is important, because if there *is* visible damage, you can be liable. Its your responsibility to have damage fixed (by insurance or otherwise).

Sammzway 09-23-2011 07:57 PM

Re: What would you do? WK2 lease end keep or not?
 
Quote:

Originally Posted by 1200RT-P (Post 489044)
yeah ..... this is important, because if there *is* visible damage, you can be liable. Its your responsibility to have damage fixed (by insurance or otherwise).

There's no visible damage just imperfection which people like me can pick out. For example, I feel like there's an area (small circle) which I feel like doesn't have a mirror like reflection. I took a light in the dark and discovered this. I'll try to take pics and post it here so you guys can see.

walterhudson 09-23-2011 11:32 PM

Re: What would you do? WK2 lease end keep or not?
 
Quote:

Originally Posted by Sammzway (Post 489302)
There's no visible damage just imperfection which people like me can pick out. For example, I feel like there's an area (small circle) which I feel like doesn't have a mirror like reflection. I took a light in the dark and discovered this. I'll try to take pics and post it here so you guys can see.

I recently leased a Camry. Wife got into a major accident[16k repair]. Since the repair looked good, it cost me nothing when I returned the vehicle at lease end.

NHman 09-24-2011 06:31 AM

Re: What would you do? WK2 lease end keep or not?
 
Quote:

Originally Posted by Sammzway (Post 489302)
There's no visible damage just imperfection which people like me can pick out. For example, I feel like there's an area (small circle) which I feel like doesn't have a mirror like reflection. I took a light in the dark and discovered this. I'll try to take pics and post it here so you guys can see.

While I do not represent an auto leasing company but based on my history with leased vehicles you should be fine. They are looking for noticeable damaged areas such as deep scratches, dents or items missing (i.e. trim pieces).

The leasing company expects a certain level of wear-n-tear just not over-the-top wear. One area that is closely measured is the tire tread depth. I believe an acceptable minimum level is 4/32. It is not uncommon for this to be overlooked by the owner/renter.






Regards,
NHman

Jim Hef 09-24-2011 10:16 AM

Re: What would you do? WK2 lease end keep or not?
 
Quote:

Originally Posted by Sammzway (Post 489302)
...I feel like there's an area (small circle) which I feel like doesn't have a mirror like reflection....

That's just a case of needing to be rubbed out. Probably a simple fix.


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