This acknowledgment explains how LeasePass works and buyback eligibility. LeasePass is a non-cancellable, optional vehicle buyback program. It is not insurance, a warranty, service contract, or debt cancellation, and does not alter loan or lease obligations. This acknowledgment is not part of your Retail Installment Sales Contract or Lease Agreement. LeasePass is administered by LeasePass LLC (“Company,” “we,” or “us”). 

Subject to the conditions below, we will purchase your vehicle any time after 12 months from the later of (a) your vehicle purchase or lease date or (b) your LeasePass purchase date, by paying off the remaining loan or lease balance to your lender (the “Payoff Amount”). The purchase price we pay (the “Buyback Amount”) is based on the Payoff Amount and may be reduced for damage, wear, mileage, prior negative equity, and other adjustments described below. Customers remain responsible for any missed or deferred payments (including payment extensions), lender late fees or penalties, any portion of the Payoff Amount attributable to prior negative equity (rolled in from a previous vehicle, whether or not disclosed), or any other amounts included in the loan or lease that are not directly related to the vehicle. If your vehicle is refinanced, transferred, or sold, the option terminates, and no buyback right remains.

Vehicle Condition. At turn-in, the vehicle undergoes a standard inspection, similar to a lease return or trade-in, using the Wear and Tear Guide (leasepass.com/wear-and-tear). The vehicle should be in clean condition, free of warning lights, and without serious mechanical issues. Normal wear is acceptable. Excess wear, damage, incomplete repairs, or accident history may result in a lower Buyback Amount based on estimated repair costs or diminished value. Minor and moderate accidents do not affect eligibility, but rare severe damage that makes a vehicle unsafe or unsellable may prevent a buyback. Recall work and required repairs should be completed. Inspection findings by the Company or its inspection provider, and any related adjustments, are final. A clean, unbranded title is required. Documentation including vehicle history reports, accident reports, or repair record may be required. Any misrepresentation of vehicle condition, history, mileage, prior damage, or loan or lease details voids buyback eligibility.

Mileage. There is no mileage cap. For miles driven over (a) the prorated lease allowance for leased vehicles, or (b) 18,000 miles per year (1,500 per month) for financed vehicles, $0.15 per mile is deducted from the Payoff Amount.

Vehicle Modifications. Common accessories and upgrades (such as window tint) are acceptable when professionally done. Modifications that cannot be reversed or that clearly reduce resale value may affect buyback eligibility.

Turn-In Process. Turning in a vehicle requires 30 days’ notice at leasepass.com/turn-in with a current payoff statement and this acknowledgment. The vehicle must be made available for inspection as determined by the Company. We will arrange the inspection and drop-off location within your metro area, and inspection timing is subject to scheduling availability with third-party inspection providers. All turn-ins follow standard lender procedures, which may vary by institution. To ensure clear title transfer, the vehicle should be free of unpaid tickets, tolls, or penalties. Buyback is contingent on successful payoff and clear title transfer.

By signing, you confirm you received and understand this information and that no verbal statements change it. LeasePass is administered solely by LeasePass LLC, not the dealership, and this acknowledgment creates no obligations for the dealership. All questions and turn-in notices should be directed to us. This signed acknowledgment serves as your official confirmation of LeasePass enrollment and benefit, subject to our receipt of payment from your dealer.