Fair wear and tear policy is an important aspect to consider when leasing a van. It refers to the acceptable level of wear and tear that the vehicle can have at the end of the lease term without incurring additional charges. Here are some key points to understand about fair wear and tear policies:
Fair wear and tear is the natural deterioration that occurs to a vehicle during normal use. It includes minor damage or wear that can be expected over time, such as small scratches, dents, and normal interior wear.
At the end of the lease term, the leasing provider will conduct a vehicle inspection to assess its condition. The purpose of the inspection is to determine if any excessive damage or wear has occurred beyond the agreed fair wear and tear allowances.
Most leasing providers will provide guidelines outlining what is considered fair wear and tear for different parts of the van, including the body, interior, wheels, glass, and other components. These guidelines help to clarify what level of wear is deemed acceptable and what might incur additional charges.
If the inspection reveals damage or wear that exceeds the fair wear and tear allowances, you may be liable for additional charges. These charges typically cover the cost of repairs or refurbishment needed to bring the van back to its originally agreed-upon condition.
It is important to thoroughly review the fair wear and tear policy with the leasing provider before signing a lease agreement. This way, you will have a clear understanding of what is considered acceptable wear and tear and can avoid any surprises or unexpected charges at the end of the lease term.