This acknowledgment explains how LeasePass works and what makes your vehicle eligible for buyback. LeasePass is a non-cancellable vehicle buyback program — not insurance, a warranty, service contract, or debt cancellation product — and does not change your loan or lease terms. It gives you the option to turn in your vehicle to LeasePass anytime after 12 months. Participation is optional and not required for financing, rate, or lease/purchase.

LeasePass Buyback Commitment. As long as all eligibility requirements below are met, including that at least 12 months have passed since your vehicle purchase date, LeasePass will buy back your vehicle by paying off the remaining vehicle balance on your current lease or loan. For leases, LeasePass also covers any lender-imposed buyout fee. You are still responsible for any missed, skipped, or deferred payments before turn-in.

LeasePass Buyback Eligibility. LeasePass will buy back your vehicle if the following conditions are met. Some conditions may reduce the buyback amount; others may affect eligibility.

1. Vehicle Condition. The vehicle must be in good, clean condition, free from excessive wear and tear, rust, leaks, or unrepaired damage. Excessive wear and tear is determined based on the Wear and Tear Guide (leasepass.com/wear-and-tear). The buyback amount may be reduced for unrepaired damage or excess wear, consistent with standard industry practices. The vehicle must pass LeasePass’s standard condition inspection. It must also be free of any title issues such as branding, salvage history, or unresolved liens.

2. Mileage Limits. The buyback amount will be reduced by $0.15 per excess mile over (a) your prorated lease allowance, or (b) 18,000 miles per year (1,500 miles per month) for financed vehicles.

3. Accident History & Diminished Value. If the vehicle was in an accident before turn-in, LeasePass may reduce the buyback amount or, in rare cases, deny eligibility if the accident caused significant damage or loss in value, as determined using standard industry practices.

4. Maintenance, Repairs & Modifications. The vehicle must be properly maintained, with maintenance, repairs, and recall work completed before turn-in. Unauthorized vehicle alterations void eligibility.

5. Turn-In Process. You must give at least 30 days’ notice of your intent to turn in the vehicle, and at that time, submit your current payoff statement, a copy of your signed financing agreement (typically your loan or lease contract), and this signed Customer Acknowledgment. You must make the vehicle available for inspection (either at your home or nearby) within three business days of giving notice. Final vehicle drop-off must take place at a LeasePass-designated location within your nearest metro area.

By signing below, you acknowledge that you received this information before completing your vehicle purchase or lease, understand the LeasePass terms, and agree that no verbal statements override them. At the time of turn-in, please contact Sapphire Leasing. They will guide you through the inspection process and coordinate directly with LeasePass. All questions can be directed to LeasePass LLC at 855-612-8600 or [email protected].