Offered for both New and Pre-Owned smart vehicles, the "walk away" (or Closed-End) lease allows you to make a set number of monthly payments for any term ranging from 24 to 60 months. Your payment amount depends on the vehicle you choose, the length of your lease term and the applicable interest rate.
At the regularly scheduled end of a Closed-End Lease (Lease Maturity) you may return the vehicle without any liability for the lease-end value. You will be responsible for any excess kilometres and excess wear and tear and other amounts due and owing under your lease. At lease maturity you may choose to: (1) return your vehicle to your dealer, pay any fees and charges and lease or purchase a new vehicle, (2) extend your current leaseSubject to credit approval. or (3) buy your vehicle at the predetermined Purchase Option Price as stated on your lease agreementNot available in all provinces. (we can finance this purchase for youSubject to credit approval.).
A Closed-End Lease is ideal for individuals with predictable driving habits since this type of lease limits the amount of kilometres that can be driven during the lease term.
Custom Kilometrage Options
- Low Kilometrage Allowance Option: This option offers a maximum driving distance allowance of 12,000 kilometres per year.
- Standard Kilometrage Allowance Option: This option offers a maximum driving distance allowance of 18,000 kilometres per year.
- High Kilometrage Allowance Option: This option enables those who know they will exceed the Standard Kilometre Allowance to purchase extra kilometres in advance at a set rate. See your Dealer for details. At the scheduled end of a High Kilometrage Lease you will be refunded for any unused kilometresSubjected to restrictions, see the terms of your lease for details. that were originally purchased at lease signing.
By knowing your kilometrage requirements in advance you can optimize your lease savings!
Note: For Closed-End Leases, a refundable security deposit equivalent to approximately one monthly paymentSome lessee's may be required to provide a larger security deposit. may be required at lease signing to ensure the vehicle is returned without physical damage, excess wear and tear or excess kilometres. If at the scheduled end of the lease the vehicle has been driven in excess of the driving distance allowance agreed upon at lease signing, an excess kilometre charge is levied. Excess kilometre charges vary by vehicle and kilometrage allowance; please contact your dealer for details.