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You may be assessed a fee if the car has excessive wear and tear when you turn it in at lease-end. To avoid this charge, change your oil on time and keep up with the required maintenance schedule. You may also want to have your car detailed before you turn it in.

If your leasing company offers the option, ending your car lease early means you're released from making remaining payments on your current leased vehicle.And you'll usually have to pay any late fees, past due payments, parking tickets or other charges remaining on the car.

If you take excellent care of your leased car and put far fewer miles on it than you're allotted in your lease agreement, it may be worth more than the residual value stated in your lease contract when you go to return it.That's how you get money back at the end of a car lease.

If you are about to turn in your car at the end of the lease, the first thing to do is ask the dealer if there will be any charges for excess "Wear and Tear." Remember that the dealer may waive some damage if you are leasing another car from them.

The residual value is simply an estimate of the wholesale value of the car at the end of the lease term.They are an expert guess as to what the car will be worth when the lease ends, and they are typically not negotiable.

Leasing: A lease is a limited time agreement, usually two to four years, during which you use the vehicle. When the term (time) of the lease ends, the vehicle must either be returned to the leasing company or purchased for the residual value. You may not sell or trade-in a leased car.

Ultimately, you are responsible for managing the maintenance and repairs to your lease car. Whether you choose to finance servicing and repairs as they arise or purchase a monthly maintenance package is up to your personal preference.

If the independent shops come back with a lower repair cost than the leasing company, you should fight the excessive wear and tear charges. If the leasing company doesn't budge, you can contact your state's attorney general's office and consider hiring an attorney if the charges are extreme.

Trade in Your Lease You can use the equity in your leased vehicle as a cash down payment for a new car. You can take the leased vehicle to any dealer to negotiate a new sales contract.

Before the inspection, experts recommend removing all personal items and washing the vehicle. You don't have to spend hundreds of dollars, but a detailing job might also be a good idea. It's definitely to your advantage to present your car in the best light you can.