Retirement & Financial Planning Report

Many leased cars are deemed to have “excess wear and tear” at the end of the lease term–and the bill for these dents and scratches usually runs well into four figures. One way to minimize such charges is to take advantage of the free inspection offered by many leasing companies–it may be less expensive to fix the damages yourself.

Alternatively, ask your insurance company for the name of a certified appraiser. Many leasing companies will accept an appraiser’s estimate in lieu of their own.

Be sure your car has a matched set of tires when you bring it in for inspection in order to avoid steep fees. What’s more, it always pays to spend a few dollars for a good car wash before turning it in.

When you return the car, insist on getting a signed vehicle inspection worksheet documenting its condition before you turn over the keys. That way, you can’t be held responsible for damage that may occur later.