WHAT HAPPENS NEXT
With your lease coming to an end, there are a few things to keep in mind as you prepare for what's next. Nissan Canada Finance (NCF), a division of Nissan Canada Inc. has made embarking on a new lease or purchasing a Nissan (your current vehicle or a new one), easier than ever.
We will be in touch at the end of your lease approaches. You will receive an email outlining your lease end options and the exciting offers available should you choose to lease or purchase another new Nissan.
1. Lease or Purchase a New Nissan Vehicle
Turn in your current vehicle in accordance with the terms of your lease agreement and lease or buy a new Nissan. NCF's Preferred Customer Retention Program (see below) makes this a particularly attractive option!
If your dealer does not purchase your vehicle, it will be inspected and may result in some excess wear and tear charges (less any loyalty incentives) and excess kilometre charges.
2. Purchase your Current Leased Vehicle
There's no better used vehicle than the one you already know and drive! If you purchase your leased vehicle, there will be no excess kilometre or excess wear & tear charges. You will not be responsible for any end of lease costs other than the predetermined purchase price (residual value) and the incidentals outlined in your Lease Agreement plus applicable taxes. Incidentals include the cost of all governmental or other regulatory fees and taxes and all safety standards, emissions and other required certification incurred in connection with the purchase of your vehicle and the transfer of ownership of the vehicle to you.
Should you choose to purchase, and require a purchase loan, NCF may be able assist you with your financing needs. Your dealership can provide you with more details. Please note, administration fees will be charged at the dealership.
3. Return your Nissan
If you decide to return your Nissan, we will make the process as easy and seamless as possible.
1. NCF's Lease Customer Network department will contact you approximately 30 days prior to maturity to answer any questions that you may have.
2. Prior to your maturity date, it is strongly recommended that you contact your Nissan Dealership to schedule an appointment to drop off your vehicle. You should give yourself ample time to investigate and explore all of your lease end options to ensure that you make a knowledgeable, well informed decision. Please remember to bring your two key fobs when turning in your vehicle.
3. The Dealership will ground your vehicle in your presence using an internal website. At the time of drop off, the Dealer will print off an NCF grounding receipt to be signed by both you & the Dealership. Please ensure you retain this form as it is a receipt acknowledging the date that you returned the vehicle. The grounding receipt is not a vehicle inspection report. If the dealer does not purchase your vehicle, an independent 3rd party inspector will complete a detailed condition report. The condition report is then used by NCF to determine whether excess wear and tear charges are warranted, or if the vehicle has been driven beyond the allowable contract kilometres, which would then be charged to you.
Nissan Canada Finance Loyalty Program
Our primary goal at Nissan Canada Finance is to offer our valued customers a hassle-free, quick and smooth transition into their next new Nissan vehicle. We want to help you and your family members make every journey a memorable one and as a loyal customer, we can deliver more! If you are leasing or financing your Nissan vehicle with Nissan Canada Finance, or if you currently own a Nissan vehicle 2009 model year or newer, you and your immediate family members residing at the same address are eligible to take advantage of the Nissan Canada Finance Loyalty Program.
To ensure the process runs smoothly and fairly, NCF has selected an independent 3rd party company, AutoVIN, to complete all vehicle condition and inspection reports on behalf of NCF. All of their Field Inspectors receive continuous training on NCF's standards and procedures.
To alleviate any concern and anxiety over this process, NCF provides a detailed wear and tear guide in the link below. This guidebook outlines what NCF considers excess wear and tear and also provides a driveway check-up tool which will assist you in performing your own self-assessment. It is recommended that you schedule an appointment with your Dealership to rectify potential excess wear and tear problem areas before grounding your leased vehicle.
Click on the link below to access an electronic copy of our standards.