There are many reasons to consider a Jaguar lease when the time comes for a new luxury performance vehicle. And Jaguar Indianapolis is here to help you get back on track on the off chance that you miss a lease payment.
Make a Payment
If you miss a lease payment, don’t panic. While you want to keep up with your payments to the best of your ability, most leases have a grace period of 15 to 30 days before any penalties are applied. During that time, you’ll be contacted by your lender or leaseholder to ensure that you are aware of the overdue payment. As soon as you are able, make the lease payment. This will help you to avoid fees and penalties.
Make Early Termination Payments
When lease payments are chronically missed, it often nullifies the lease contract. This is considered an early termination, in which your vehicle is returned to the dealership. Returning a leased car early often results in early termination fees, which you may see if payments are missed. Try to pay these as quickly as possible to reduce future costs.
Check Your Credit Score
Your credit score plays a vital role in your eligibility for a lease. Most leases require drivers to have a very high credit score to qualify to show that they are reliable borrowers. An early lease termination or missed payments can affect your credit score, so monitor your score and make payments as soon as possible to mitigate credit loss.
Here at Jaguar Indianapolis, we believe the Jaguar financing process should be as smooth and easy as possible. Learn more about Jaguar lease support and financing resources, and take your first drive in a new Jaguar model today.