This is one of the most-asked questions I get on this leasing blog… “Who is responsible for replacing tires on a leased car?”
Like this one:
Reason why I stumbled upon your website and you was due to not wanting to pay for an extra set of tires on my 2nd year of a 3-year lease. Felt it was a cost I could use elsewhere. I read about what you and your package is all about and it inspires me knowing there’s hope for people who are 3k miles over the expected mileage. Not sure how your selected aggressive buyers work for people with worn out tires. Is that taken into account when my vehicle is appraised? Just curious how that all works once my vehicle is chosen to be bought out of the lease contract.
Thanks for your honesty and all the knowledge you’ve shared with us so far!
I am a TERRIBLE liar, so honesty is all I got:>
If we “flip our vehicle” (something I STRONGLY suggest for anyone to try – nothing to lose, everything to gain)…
Being just 3,000 miles over the limit is chump change in the end. The wholesale mileage “whack” is roughly 5 cents – in your case $150. Yep, just $150. That means 3rd-party car-buying services will merely lower their appraisals by just $150… but they might be willing to pay us hundreds or even thousands to buy out our vehicle.
About your tires. This is where the leasing hustle begins. The standard 36-month lease (or 39-month lease) almost always forces us to get new tires. This way, when we turn in our cream puff with new tires, the dealership will flip our barely-used vehicle for a MASSIVE profit on their used-car lot… complete with us funding the new tires!
But once again, flipping our vehicle avoids it all. No need for tire replacements… no need to worry about any over-the-mileage penalties – heck, even that EXTREMELY profitable $350.00+ “disposition fee” vanishes. We allow a 3rd-party car buying service to flip our car as is… and we get a direct deposit (or FedEx) for any “lease equity”. In the rare event we are “underwater”, the amount owed is often a fraction of what the leasing company will charge us.
The “fleecing” “industry” loves to scare us half to death about damage and over-the-mileage penalties. Being scared = higher profits for them…
We can fight back by flipping our car and ripping up the lease agreement. And there is nothing they can do about it.