Frequently Asked Questions

  • LeasePass is a structured buyback program that allows customers to easily exit their lease or loan anytime after 12 months.

  • LeasePass works with both new and used car dealerships nationwide. Simply get yours through your local dealer, with the cost added to your purchase.

  • Most vehicles from 2020-2025 are eligible for LeasePass; however, certain criteria must be met, including vehicle age, mileage, and condition. Your dealer can confirm the eligibility of specific vehicles.

  • Yes, LeasePass is available for both new and used vehicles purchased through participating dealerships.

  • 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.

  • LeasePass Certification confirms that your vehicle meets the eligibility requirements for participation in the LeasePass Program at the time of purchase. Certification provides benefits such as early lease buyout or loan payoff but does not alter your responsibilities regarding mileage, maintenance, or vehicle condition. LeasePass Certification is not a warranty, service contract, or insurance product.

  • Yes, we have an A rating with the Better Business Bureau.

  • The LeasePass agreement is solely between you (the customer) and us, independent of your dealer or lender, and does not constitute insurance or warranty coverage.

  • LeasePass is designed to fully protect dealers with a structured financial model and clear agreements:

    No Financial Risk – A segregated reserve ensures every obligation is met, even if LeasePass were no longer in business. Dealers are never financially responsible.

    No Legal Liability – Customers contract directly with LeasePass and explicitly acknowledge that the dealer has no responsibility for LeasePass obligations.

    No Reputational Risk – LeasePass handles all customer questions, issues, and buybacks, ensuring customers never turn to the dealer with problems.

    Financial Stability – AI-driven predictive analytics and diversified resale channels ensure long-term sustainability, even with high turn-ins. Only qualified vehicles are approved, and our segregated reserve guarantees every obligation is met.

    This structure eliminates dealer exposure while ensuring seamless customer protection.

General Information

  • 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.

    1. Provide 30 days’ notice of your intent to turn in the vehicle.

    2. Vehicle inspection confirms it’s free of damage or excess wear & tear.

    3. LeasePass obtains a payoff statement from your lender and handles the rest.

    The LeasePass Buyback pays the remaining balance of the loan or lease tied to the Vehicle Purchase Price, which is the agreed-upon price of the vehicle itself.

    For Leases: LeasePass pays the residual value stated in the lease plus any remaining scheduled vehicle depreciation payments. LeasePass also covers the lease buyout fee if charged by the lender.

    For Loans: LeasePass pays the remaining loan balance tied to the Vehicle Purchase Price.

    The following reflect individual financing decisions, not the actual value of the vehicle, and must be covered by you:

    • Unpaid payments

    • Taxes, registration, title, dealer or lender fees

    • F&I/Ancillary products (VSCs, GAP, etc.)

    • Negative equity from a prior vehicle

    LeasePass credits your down payment to all financed extras above, except negative equity.

    Once the lease or loan balance is paid off, the vehicle title is transferred to LeasePass, and you have no further financial obligation.

  • Exiting your vehicle prior to 12 months is not part of the LeasePass program.

  • If this occurs, 100% of the LeasePass cost will be refunded by us to the lender.

  • No, LeasePass is non-transferable and is tied to the original vehicle and owner as specified in the agreement.

  • No, LeasePass does not cover negative equity from a prior car added to your lease or loan.

    LeasePass covers the car itself—nothing extra. If you lease, it pays the lease buyout price. If you finance, it covers the part of your loan tied to the car’s original purchase price. It doesn’t cover taxes, fees, negative equity, or any add-ons rolled into financing.

  • 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

  • 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.

    Wear and Tear Guide

  • When you use LeasePass to exit your car:

    • Leased cars: Mileage beyond the annual limit in your lease (prorated if applicable) is charged at $0.15/mile.

    • Financed cars: Mileage over 15,000 miles per year (prorated if applicable) is charged at $0.15/mile.

    We aim to keep fees minimal, but excessive mileage (e.g., 30,000 miles/year) significantly reduces the car's value.

  • Yes, as this is your vehicle, regular maintenance is necessary to ensure the vehicle remains in good condition.

  • 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.

  • 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.

  • 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.

  • 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.

Vehicle Condition Standards