Who owns the car after the lease?

When someone leases a vehicle they are not legally the “owner” of the vehicle. The owner of the vehicle is technically the company that has leased the vehicle to another person for a certain fee and other agreements.

Who holds the title when leasing a car?

As with a personal vehicle, the title of a leased vehicle is in the name of the owner of the vehicle. Since the leasing company holds the registration, their name will also appear on the title. As the legal owners of the vehicle, they take on the responsibilities of maintenance and repairs as part of their investment.

What happens when you return a leased car?

The disposition fee is typically around $300 or $400, and it covers some of the costs for the dealership to turnaround and resell the car you were leasing. If you returned your leased car in poor condition or if you exceeded the mileage limits laid out in your lease terms, you may also be charged extra fees.

Is a lease agreement the same as a title?

Initial Lease Agreement When you sign your lease contract, the leasing company or dealership remains the titled owner of the car. This scenario is similar to other rental agreements where you pay money for the right to use someone else’s property temporarily.

Can a leased car be returned to a different dealer?

In theory, you should be able to return the leased car to any dealership of the same brand. If you’ve moved or the dealership is no longer in business, you’ll obviously have to choose another one. Call the used-car manager to set up an appointment for the lease return.

Can you return a lease to a different brand dealer?

If you want to return a leased car to a dealer you didn’t lease it from, that dealership must be affiliated – or have an agreement – with your leasing company. When you lease from a captive lender, you’re free to return the leased vehicle to any franchised dealer of that brand.