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APPRAISAL: Lease Termination
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"Many consumers are concerned about leasing's Termination Day when the vehicle is returned for its condition inspection and assessment of extra charges.  Usually, additional charges are assessed because of excessive wear and tear or additional miles above the agreed-upon figure in the contract.  When the consumer obtains a professional appraisal in their behalf, most concerns are quickly eliminated."
.....Federal Reserve Board - Consumer Guide To Vehicle Leasing

Terminating a lease, be it early or scheduled, is often an experience that can leave the lessee with an unhappy result...a lower than expected end-of-lease or early termination value.

 
The end-of-lease adjusted residual, or early lease termination value is established by the leasing company.  Quite often, that value is lower than what you feel it should be and, you're now liable for the difference.  Various questions now arise:
  • Why Is The Value So Low?
  • How Was It Determined?
  • Is It Accurate-Correct?
  • Can It Be Disputed?
  • And Others
With an automotive appraisal services® professional-certified appraisal, those and other questions will be answered.  You'll learn the true and accurate end-of-lease, or early termination value of your particular vehicle.

It is not unusual that the leasing company's established value will be much lower than you expected. That's not to say it's the correct or incorrect value, but rather, it's merely the leasing company's opinion of the appraised value. You also have a right to your opinion. There are options that you can explore to resolve any dispute in a fair, equitable, and timely manner.

An aas professional-certified appraisal is one such option.  It's the tool you'll need to satisfy the leasing company's request for valid proof of value.  The appraisal can be performed prior to, as suggested by the leasing company, or after surrendering the vehicle.
  
No matter what your particular requirement is, automotive appraisal services® - Lease Termination Appraisal Service can help you receive a fair and equitable settlement from the leasing company.  Now anyone, anywhere, can take advantage of our expert service and receive a professional-certified appraisal...one that will clearly show the true, honest value of your vehicle.  Armed with this information, you can best protect yourself in the event the leasing company tenders an unjust termination offer.

 
"A BIG THANK YOU!  I really appreciated your accurate appraisal.  Without it I couldn't have proven my car's true residual value.   (name of leasing company) agreed with your stated value and even complimented me on having the appraisal.  It definitely made the lease termination procedure easier and less expensive than I expected."
.....B Ottoro - Albuquerque, NM

aas Lease Termination Appraisal Service is designed to encompass any type of vehicle:

Auto *  Truck  *  Van  *  SUV  *  SUT  *   RV  *   Motor Home  *  Motorcycle

These vehicles may be owned/operated by private parties or corporations.

NOTE: automotive appraisal services® does not provide collision and/or repair estimates.  Adjustments may be made for excessive wear and tear and/or damage issues.  Said adjustments are NEVER to be construed as an actual repair estimate.  aas does not make referrals to sales and/or repair facilities, or buy and sell vehicles. These practices assure you that a complete and truly unbiased appraisal is performed.

automotive appraisal services® - Lease Termination Appraisal Service has been specifically developed to utilize our exclusive copyrighted APPRAISAL INFORMATION REPORT (AIR) to gain all the pertinent information required to successfully perform a certified appraisal.  It was written and approved using guidelines established by NAVA - National Association of Vehicle Appraisers and USPAP - Uniform Standards of Professional Appraisal Practice.

 

   PHASE~I  
LEASE TERMINATION APPRAISAL  SERVICE         

aas Phase~I Lease Termination Appraisal Service consists of a thorough evaluation of the vehicle's body and frame, all mechanical components, and complete interior appointments.  With the information gained, a current fair market residual value is assigned.  Values are established using a combination of up-to-date book values and current wholesale comparable values.

Elements Of The aas Phase~I Lease Termination Appraisal Service

  • Thorough Review Of Your Vehicle Via Our Exclusive APPRAISAL INFORMATION REPORT (AIR)
  • Accurate Appraised Value
  • A Minimum Of 3 Reliable Comparable Wholesale Values
  • Certified Accepted Appraisal 
  • Retention And Safekeeping Of All Documents
  • Copy Of The Appraisal Sent To Lessor
  • Toll Free Telephone And/Or E-Mail Assistance
  • PLUS..... Much More

The complete aas Phase~I Lease Termination Appraisal Service packet is mailed the same day your order is received.  The entire process takes approximately 8-10 business days to complete.  (Same Day Priority-Express Services Is Available.)

Basic Service
   Total Price ..... $ 125.00
          Plus S&H Fee
Priority-Express Service ...
2-3 Business Days
   Total Price ..... $ 230.00
                  Includes S&H Fee And Overnight Delivery
                                  Conditions May Apply 

You May Telephone Your aas Lease Termination Appraisal Request Directly To:

1.800.495.2525
Monday - Friday ... 9:00AM - 5:00PM ... Pacific Time

LEASE TERMINATION APPRAISAL PROGRAM  -  FAQs

THE POINT & CLICK FEATURE IS CURRENTLY NOT OPERABLE.....SIMPLY SCROLL DOWN THE PAGE FOR ANSWERS

  1. What Is The Lease Termination Appraisal Service?
  2. How Is The Lease Termination Appraisal Service Used?
  3. When Leasing From A Nationally Recognized Leasing Company...Is An Appraisal Necessary?
  4. Can I Return The Vehicle Without An Appraisal?
  5. Why Can't I Simply Submit A Book/Guide Value As Proof?
  6. When Should The Leased Vehicle Be Appraised?
  7. I've Already Returned The Vehicle...Can It Still Be Appraised?
  8. Will The Leasing Company Accept Your Appraisal?
  9. How Is The Appraised Value Determined?
  10. What Is Residual Value?
  11. What Is "Book" Value?
  12. What Is Comparable Or "Comp" Value?
  13. Is The Appraisal Certified?
  14. Is The Appraisal Guaranteed?
  15. Are Photographs Required?
  16. Don't You Need To See The Vehicle...To Appraise It?
  17. Can A Lease Termination Appraisal Be Performed By Sending Information Via The Internet?
  18. What Is Considered Excessive Wear And Tear?
  19. Can Excessive Wear And Tear Claims Be Disputed?

#1  What Is The Lease Termination Appraisal Service?

The automotive appraisal services® Lease Termination Appraisal Service is all that's needed to successfully prove to a leasing company (lessor) the value of a leased vehicle upon termination of a lease.

The termination of the lease can be early or scheduled.

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#2  How Is The Lease Termination Appraisal Used?

The automotive appraisal services®  Lease Termination appraisal is used as a support document to substantiate to the leasing company (lessor) the end-of-lease or residual value of  the vehicle at the termination of the lease.  The termination can be early or scheduled.  Often a leasing company (lessor) requires a professional-certified appraised value be established when terminating the lease.  The aas lease termination appraisal meets that requirement.

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#3  When Leasing From A Nationally Recognized Leasing Company...Is An Appraisal Necessary?
YES!  The size, name, origin, or geographical location of the leasing company has no bearing on the end-of-lease or residual value of your vehicle.  In fact, the larger the leasing company, the more an appraisal will assist you.  A larger, non-personal company, may only looks at numbers, not individual lessors and their personal situations.

An aas professional-certified appraisal will successfully demonstrate to any leasing company, no matter what size they may be, your vehicle's true value and eliminate many questions.

#4  Can I Return The Vehicle Without An Appraisal?

Most instances ...Yes!  However, if a dispute arises, you'll limit your opportunities to prove it's true value. The leasing company (lessor) may charge you hundreds of dollars for a minor infraction and you won't be able to prove otherwise.

In circumstances where an early termination is desired, the leasing company (lessor) will require an appraisal prior to returning the vehicle.  An aas professional-certified appraisal will meet their demand.

#5  Why Can't I Simply Submit A Book/Guide Value As Proof?
Leasing companies rarely accept a generic guide book for your vehicle's actual fair market value. The reason is that those publications are guides only. Your vehicle will most likely have a unique feature or two making it somewhat different. Plus, consideration must be given to your local current market conditions and the overall quality of your vehicle. With the rise in popularity of leasing, most guide book publications will have a dedicated edition addressing only residual values. These editions are not readily available to the general public.  When the vehicle's end-of-lease or residual value is established using a professional-certified appraisal, the correct book value is used as well as an in depth analysis of your particular vehicle and its local current market demand.

For example, if your vehicle is in perfect condition, having received excellent care and service, it might easily sell for more than the "book/guide" value, due to its low mileage and basic overall condition. An aas appraisal will successfully demonstrate that rendering a higher residual value.

#6  When Should The Leased Vehicle Be Appraised?

Now!  There's no better time than the present.  Your vehicle has the highest value now, it should be appraised for that value in today's market.  Depending upon the vehicle, its end-of-lease or residual value can change quarterly, semi-annually or annually.  Having the vehicle appraised now will guarantee that you will receive the highest possible value.

Leasing companies will also often have strict guidelines as to when the appraisal must be performed in relation to the vehicle's actual return date.  Check with your lessor for their specific requirements.

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#7  I've Already Returned The Vehicle...Can It Still Be Appraised?
 
Yes!  Even though you aren't in possession of it, we can successfully appraise it.  You will need some basic information about it, such as the VIN#...mileage...any after market items installed...service history...overall basic condition, etcetera.  Most of the information that's needed can be found on the various lease forms.  The other pertinent information you likely already know.

Our exclusive, copyrighted Appraisal Information Report (AIR) is specifically designed for this purpose.  It will guide you step-by-step in providing all the required information to successfully achieve an accurate appraised value.

#8  Will The Leasing Company Accept Your Appraisal?
 
YES!  We meet or exceed all requirements regarding certified appraisals.  We're a recognized professional appraisal service performing each appraisal under the strict guidelines as outlined by NAVA - National Association of Vehicle Appraisers.

Plus!  A 100% money back guarantee acceptance accompanies each appraisal. 

(Some Restrictions Apply.....Details Accompany The Written Guarantee.....Consult  Additional Information In: TERMS & CONDITIONS - Guarantee)

#9  How Is The Appraised Value Determined?
 
All appraisal values are determined by a professional-licensed-certified appraiser, strictly adhering to the guidelines as established by NAVA - National Association of Vehicle Appraisers and business practices within the BBB - Better Business Bureau.

Upon review of your submitted Appraisal Information Report (AIR), the vehicle's exterior, interior and all mechanical components are evaluated to determine its basic quality and soundness.  Next, all aftermarket or upgraded items are considered.  Every aspect of the vehicle is taken into consideration when establishing an appraised value.

Depending upon the vehicle, various "value" designation guides are used to establish a base value.  Next, all the specifics of your vehicle are factored in.  Then, current, local to you, wholesale market comparable values are determined.  Your opinion is also considered.  After all the information is carefully reviewed, the final appraised value is established.

To maintain the highest quality possible, the appraisal is reviewed a second time to insure that a proper, in-depth appraisal was performed rendering the highest possible appraised value to best suit your needs.

#10  What Is Residual Value?

Residual value is an educated opinion, established by the lessor, as to what the vehicle will be worth at the end of the lease.  Its based on the percentage of projected depreciation the vehicle will sustain during the lease period.  The residual value can be different each lease year.  It might be 70% after one year, 60% after two, 50% after three, and so on.  The theory is that you only pay for what you use.

For example:  A leased $10,000 vehicle for three years is worth $5,000 at the end of the lease.  You've essentially used $5,000 worth of the its value, or 50% of the its original price. Your payments would be $5,000 divided into 36 monthly payments plus interest and applicable tax and related fees.

$5,000 is therefore the vehicles residual value...what it's worth at the end of the lease.

#11  What Is "Book" Value?
Book value is a pre-assigned value of a vehicle by an independent firm involved in the research of vehicles and their respective selling prices.  There are several specific firms providing such information.  These "books" may offer several editions defining specific geographical locations throughout the country.  Which book is utilized to determine your vehicle's book value depends upon your vehicle as well as your location.  The varied "books/guides" available can be of a general practice type or one specific to a type of vehicle.  Similar to the law and medical professions, there are general practitioners as well as those specializing in a specific field.
In regards to leasing, there are specific books addressing vehicle residual values at their projected end-of-the lease.  It's important to remember, as is the case of any book value, these are guides only.  Each vehicle needs to be treated individually rather than simply lumped together. 
When performing the aas Lease Termination Appraisal Service, we use the most applicable "book" for your vehicle, the one that offers the highest most accurate values.

#12  What Is Comparable Or "Comp" Value?
Comparable values, often referred to by its slang term "comps" are values of similar vehicles.  If many 1999 Widgetmobiles are selling for $1,000, than the "comp" value of a 1999 Widgetmobile is $1,000.  Once a solid comparable value is established, consideration is then given for your vehicle's particulars that will add or subtract to its final appraised value.  There are many factors that need to be considered in establishing a solid comparable value.  It's more than simply looking in a local newspaper.  It's often quite difficult to establish a comparable value for a custom, specific, or altered vehicle, but aas can do it.

Leasing company requirements usually state that several solid and accurate comparable values must be considered in establishing any appraised value.  These comps must be "wholesale" vehicle values...what licensed dealers pay for similar vehicles.  These values derive from wholesale..licensed dealers only auction houses.  aas has access to, and utilizes these specific values.

#13  Is The Appraisal Certified?
YES!  Every automotive appraisal services® appraisal meets or exceeds the strict guidelines of certification and professional business practices as outlined by:
  • NAVA - National Association of Vehicle Appraisers
  • BBB - Better Business Bureau
  • ABA - American Bar Association
  • IRS - Internal Revenue Service

Appropriate designations, licenses, and applicable information are stated on the appraisal, announcing its certification and acceptance. 

#14  Is The Appraisal Guaranteed?

YES!  A 100% money back guarantee acceptance accompanies each appraisal. 

(Some Restrictions Apply.....Details Accompany The Written Guarantee.....Consult  Additional Information In: TERMS & CONDITIONS - Guarantee)

#15  Are Photographs Required?
 
Not necessarily.  They help demonstrate what your words say, but they are not mandatory.  An accurate appraisal can still be performed without them.  Our exclusive copyrighted Appraisal Information Report (AIR) is designed for use with or without photographs.
 

#16  Don't You Need To See The Vehicle...To Appraise It?

NO!  That's a common misconception that is easily refuted.  Our exclusive, copyrighted Appraisal Information Report (AIR) was specifically designed for this purpose.  All that's required is your information.  All appraisal guidelines as established by NAVA - National Association of Vehicle Appraisers - to guarantee a professional certified appraisal can be met without a physical inspection.  aas Lease Termination Appraisal Service has passed every test for accuracy and legality, and is readily accepted by leasing companies.

#17  Can A Lease Termination Appraisal Be Performed By Sending Information Via The Internet?
 
NO!  A vehicle's "ball-park" or "general idea" type value is possible, but a professional-certified appraisal, one that satisfies a leasing companies specific requirements, is not possible.  Your particular vehicle has unique and specific concerns that must be addressed.  These concerns cannot be understood simply by providing a vehicle's core information and then receiving a "book" or "guide" value solely over the Internet.
 
The lease company will also require that industry accepted guidelines be adhered to.  If not, they will reject your submitted value.  An appraised value gained solely via the Internet will not satisfy these requirements.
 
If you need to know a vehicle's true appraised value, such as is the case with a lease termination, a professional-certified appraisal, consisting of specific information, must be performed.
 

#18  What Is Considered Excessive Wear And Tear?
Excessive wear and tear on any vehicle is a "gray" area of definition.   It's highly subject to interpretation.  A basic definition is any concern, be it cosmetic or mechanical, that falls under the category of  beyond normal as compared to other like vehicles.  What's considered normal, everyday wear and tear to one, is excessive to another.  The question now becomes; what is normal?  Again, a "gray" area of definition.
There are many factors that need to be addressed.  The vehicle's age, its mileage, availability of service/repair/maintenance receipts, how it was utilized, even where it's parked, just to mention a few.  Each lease is different, each vehicle is different.  The same is true for excessive wear and tear definitions.  The lessor's standard for excessive wear and tear is found in your lease agreement.
A good way to determine excessive wear and tear is if the specific concern would occur within the normal, day-to-day use and operation of the vehicle. 
Typical examples include:
  • Broken, Damaged, Or Missing Items
  • Dented Or Damaged Body Panels/Components 
  • Cracked, Chipped, Heavily Pitted Or Broken Glass
  • Cuts, Tears, Burns Or Stains In Seating Or Carpet
  • Excessively Worn Brakes Or Tires
  • Poor Quality Repairs
For example:
A car has minor surface swirl marks on the left front fender from repeated car wash visits.  That would be considered normal wear and tear.  However, if the same vehicle would show deep scratches or scrapes from parking to close to Johnny's bicycle, that would be considered excessive wear and tear.
   OR:
A 3 year old vehicle with 35,000 miles has a "wear" spot on the carpeting directly below the accelerator pedal.  That's considered normal as what vehicle wouldn't?  On the other hand, the same vehicle shows damage to the driver's seat were a belt clip type key chain has torn the fabric in several locations.  That's excessive wear and tear.
A professional-certified appraisal, obtained from accurate supplied information, will be able to discern the difference between what is normal and what is excessive.  An aas appraisal does just that.

#19  Can Excessive Wear And Tear Claims Be Disputed?
YES - MOST DEFINITELY!  Determining and/or proving excessive wear and tear is a highly subjective process open to interpretation.  An aas professional-certified appraisal can successfully dispute questionable claims as to what is normal or excessive.  Once challenged, an excessive wear and tear claim is often reviewed and subsequently the values readjusted.

Effective/Revised Dates:
September 1999 ... May 2000 ... February 2001 ... June 2002 ... October 2002 ... April 2003 ... July 2004 ... October 2007 ... March 2011
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