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.
Options
We will be in touch at the end of your lease approaches. You will receive a letter outlining your lease end options and the exciting offers available should you choose to lease or purchase a new Nissan again as well as wear and tear guidebook to help you measure the condition of your vehicle and prepare you for any additional financial responsibilities that may arise from excessive wear and tear.
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!
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. Please see your dealership for more details.
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 Customer Remarketing Department will contact you via telephone 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.
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. This form is a receipt acknowledging the date that you returned the vehicle. The grounding receipt is not a vehicle inspection report. An independent 3rd party inspector will complete a detailed condition report within 48 hours of grounding. The condition report is then used by NCF to determine whether the vehicle has suffered excess wear and tear charges or has been driven beyond the allowable kilometres which would then be charged to you.
4. To avoid any unpleasant surprises or excess wear and tear charges, it is highly recommended that any potential excess wear & tear issues be remedied by you prior to grounding the vehicle.
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.
Vehicle Inspection
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 & tear guide in the 6-month mailing that you will receive. This guidebook outlines exactly 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.
How can I obtain the payout information on my maturing lease?
You may obtain the payout information by contacting your dealership or our Customer Service department at 1-800-268-6499 (East) or 1-800-268-0764 (West).
When do I have to return my vehicle?
Your vehicle is due back at your Nissan dealership by the end of the scheduled Lease Term.
When will I receive my security deposit refund?
Provided that you do not have any excess wear and tear and/or excess kilometer charges, your security deposit is refundable after 15 business days from the date we receive (a) confirmation of your vehicle return or (b) certified funds for the purchase of your vehicle.
If I decide to buy my existing leased vehicle, how can I get it registered in my name?
To purchase your leased vehicle, please contact your Nissan dealership to make the necessary arrangements. Your Nissan dealership will assist you in registering your vehicle.
Can someone else purchase my leased vehicle?
You as the lessee have the first option to purchase your leased vehicle. Your Nissan dealership, as named on your leasing contract, has the second option to purchase your leased vehicle. If you have a third party who is interested in purchasing your leased vehicle, please contact your Nissan dealership who may be able to assist you to make the necessary arrangements.
What does it mean to “ground” a vehicle?
When you return your leased vehicle, your dealership will, using an online internal website, notify NCF that you have returned your vehicle. This process is known as "grounding a vehicle". You will receive a grounding receipt at time of drop off signed by both yourself and the Dealership. A grounding receipt is evidence of the date and time that you have returned the vehicle to the dealership. A grounding receipt is not a vehicle inspection report.
I have received a lease-end liability statement. How do I go about paying it?
Please remit your payment in the form of a cheque along with the remittance portion to Nissan Canada Finance at 5290 Orbitor Drive, Mississauga, Ontario, L4W 4Z5.
Can I purchase/return my vehicle prior to the end of my lease?
Yes, you can, however, early return and early purchase fees and charges may apply. For further details, please refer to your lease agreement and contact your dealership or our Customer Service department at 1-800-268-6499 (East) or 1-800-268-0764 (West).
When do I have to make arrangements with my dealership to return/purchase vehicle?
We recommend that you make arrangements with your Nissan dealership 30 days prior to your maturity date. This will give you ample time to thoroughly investigate and explore all of the lease end options available to you.
Is it possible to extend my lease at the end of the term?
It may be possible to extend your lease at the end of the term. For further details, please refer to your lease agreement and contact your dealership or our Remarketing department at 1-800-268-6499 (East) or 1-800-268-0764 (West).
Is the residual value negotiable?
The residual value as indicated on your leasing contract is non-negotiable.
When is my last payment due?
Your last payment is normally due 30 days prior tothe maturity date of your lease. If you have had a payment due date change, please contact our Customer Service department at 1-800-268-6499 (East) or 1-800-268-0764 (West) to confirm your last payment date.
Can I return my leased vehicle to any Nissan/Infiniti dealership?
Under your lease you are required to return your leased vehicle to the Nissan dealership where it was leased. If you wish to return your leased vehicle to a non-originating Nissan dealership, you must make prior arrangements with that dealership.
What are the charges for exceeding my kilometer allowance?
Please refer to your Lease Agreement for the applicable excess kilometer charges.
Can I purchase extra kilometres during the course of my lease?
Additional kilometers cannot be purchased after the lease contract has been signed.