Frequently Asked Questions
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LeasePass is a vehicle buyback program that gives you the option to turn in your new or used car anytime after 12 months. It’s rolled into your lease or loan and eliminates long-term commitments and resale uncertainty — giving you flexibility and peace of mind. Even if your car is worth less than you owe, we still buy it.
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LeasePass works with both new and used car dealerships nationwide. Simply get yours through your local dealer, with the cost added to your purchase.
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Most vehicles model year 2020 and newer are eligible for LeasePass; however, certain criteria must be met, including mileage and condition.
See your dealer to confirm LeasePass is eligible on the vehicle you plan to lease or finance.
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Yes, LeasePass is available for both new and used vehicles purchased through participating dealerships.
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You probably don’t plan to keep your car for the full loan term, but it can be tough to know exactly when you’ll want to upgrade and what your car’s value will be at that time.
LeasePass provides flexibility and freedom from uncertainty for buyers with auto loans, whether new or used. By allowing you to exit your car early without worrying about how much it’s worth, LeasePass ensures you have options if your needs change. It’s a smart solution for anyone seeking financial freedom and flexibility with their vehicle purchase.
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Yes, we have an A rating with the Better Business Bureau.
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The LeasePass Customer Acknowledgment is solely between the customer and LeasePass, independent of your dealer or lender, does not modify the terms or your lease or loan, and is not insurance or warranty coverage.
General Information
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You can exit anytime after a year by providing 30 days’ notice. LeasePass Certified vehicles qualify for this benefit, and LeasePass will schedule an inspection and initiate the buyout or payoff process with your lender.
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Anytime after 12 months, just email us with 30 days’ notice. We’ll schedule a quick inspection to confirm the vehicle has no damage or excess wear. Before buyback, you’re still responsible for any deferred, skipped, or unpaid payments, as well as any remaining balance of prior negative equity. Any cancellable products (like warranties or maintenance plans) must be canceled at turn-in, and any refunds will be applied toward the lease or loan balance. Then, LeasePass pays off the rest, handles the title transfer, and closes out your loan or lease. The vehicle is no longer your responsibility — simple, easy, done.
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Exiting your vehicle prior to 12 months is not part of the LeasePass program.
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If this occurs, 100% of the LeasePass cost will be refunded by us to the lender.
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No, LeasePass is non-transferable and is tied to the original vehicle and owner as specified in the agreement.
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Any negative equity from a previous vehicle rolled into this loan is your responsibility and not paid off by LeasePass. You’d still owe the remaining balance of rolled in negative equity from a prior vehicle.
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Yes, LeasePass remains valid as long as your relocation is within the continental United States. Please notify us of your new location to facilitate the process smoothly.
Using LeasePass
Vehicle Condition Standards
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Normal wear and tear is acceptable, but excessive wear, damage, or modifications not compliant with the LeasePass agreement may require repair or incur reconditioning costs. Certification at the time of purchase does not exempt customers from these responsibilities, and it’s recommended to fix any issues before turning in the car.
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Drive as much as you need, of course! Just note that if you turn in your vehicle, the buyback amount will be reduced by $0.15 for every mile over your mileage limit—either your prorated lease allowance or 18,000 miles per year (1,500 per month) for financed vehicles.
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Yes, as this is your vehicle, regular maintenance is necessary to ensure the vehicle remains in good condition.
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While using LeasePass, you are responsible for:
Making all payments, taxes, fees, and charges outlined in your original lender or lessor agreement until the vehicle disposal process is complete.
Keeping the vehicle in 'clean' condition, free of excessive wear and tear, damage, or unauthorized modifications.
Following the manufacturer’s maintenance schedule and providing service documentation upon request.
Addressing any excess mileage, damage, or diminished value issues before returning the vehicle.
Ensuring the vehicle remains free of liens or encumbrances.
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To maintain eligibility for LeasePass, your vehicle must meet these condition standards:
Be in "clean" condition, without visible defects, rust, leaks, or damage requiring reconditioning or bodywork.
Follow the manufacturer's maintenance schedule, with service records available upon request.
Address excessive wear and tear as outlined in the Wear and Tear Guide
Be free of unauthorized modifications, such as odometer tampering. Any modifications must be repaired or removed as approved by LeasePass.
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You are responsible for all repair costs related to damage, excessive wear and tear, or diminished value resulting from accidents. Repairs must be performed by an authorized provider unless LeasePass approves otherwise in writing. Additionally, if the vehicle incurs damage that reduces its market value, you are liable for the resulting diminished value. A totaled vehicle will void the LeasePass agreement.
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No, unauthorized modifications are not permitted under the LeasePass program. Any modifications, such as performance upgrades, aftermarket changes, or odometer tampering, will void the agreement. If you have made modifications, you may need to restore the vehicle to its original condition at your expense before returning it, unless LeasePass provides prior written approval for the changes.