FREQUENTLY ASKED QUESTIONS
WELCOME TO SMARTWAY AUTO LEASING. Thank you for allowing SMARTWAY to assist you with your transportation needs. We are pleased to have you as our customer and look forward to a lasting and mutually rewarding relationship. Following are answers to frequently asked questions regarding your SMARTWAY AUTO LEASE AGREEMENT. If you have any further questions, please contact us at 517-548-5707.
1. HOW DO I MAKE MY MONTHLY LEASE PAYMENTS? SMARTWAY AUTO LEASING provides each customer a monthly statement. The statements state the date by which each payment is due. For your convenience, SMARTWAY AUTO offers a number of payment method options. Payments may be made by check, money order, credit/debit by phone, on-line at www.smartwayautoinc.com, or with cash with the cashier at one of our participating dealerships during normal business hours.
When paying by check or money order please include a copy of the monthly statement to ensure that payments are properly credited to your account. It is also helpful to write your account number on your check or money order. This number can be found in the upper right hand corner of your monthly statement below the date. When paying by money order, please make sure your name and address are legible and complete.
Regardless of payment method, each monthly payment is due in full on or before the payment due date; there is no grace period. If, for any reason, you are unable to fulfill this requirement of your lease, you must contact SMARTWAY AUTO prior to your payment due date.
2. WHAT ABOUT THE ELECTRONIC LOCATING AND DISABLING DEVICE INSTALLED ON MY VEHICLE? As you know from the Customer Agreement and Disclosure Statement you signed at your dealership, an electronic locating and disabling device has been installed on your vehicle. Under the terms of your lease, you have agreed not to tamper with, disable or remove it or allow someone else to do so. This device allows Smartway Auto to locate your vehicle and, should you be in default of your lease, render your vehicle inoperable.
The electronic locating and disabling device also helps protect your vehicle from theft. You may wish to contact your insurance company to determine if this qualifies you for a discount on your insurance.
3. WHAT ARE MY VEHICLE INSURANCE REQUIREMENTS AND REPONSIBILITIES? The SMARTWAY AUTO LEASE AGREEMENT sets forth all requirements regarding insurance coverage. You are required to maintain both liability and physical damage insurance. Your policy must name SMARTWAY AUTO INC. as Lienholder, Loss Payee/Lessor, and Additional Insured. Failure to maintain full insurance coverage on your vehicle is a breach of your lease contract.
4. WHAT ARE MY RESPONSIBILITIES REGARDING MAINTENANCE AND REPAIRS? A well maintained vehicle runs better, lasts longer, and costs less to operate. You are responsible for keeping your leased vehicle in good working order, making any necessary repairs, and having maintenance and service work performed. Routine maintenance includes oil and filter changes, inspections of belts and hoses, tire rotations, and checks of tire pressure. Service work may be covered by a manufacturer’s warranty or an extended service contract.
You are responsible for making your regular monthly lease payment even if your vehicle is disabled due to repairs.
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5. WHAT ABOUT WEAR AND TEAR? Your lease allows for normal wear and tear; however, you are responsible for excess wear and tear to the vehicle. Normal wear and use includes such things as minor dings, dents, small scratches, small chips in the paint finish, and reduced tread on tires. Some examples of excess wear and use include broken or missing parts; dented or damaged body panels or trim; cuts, tears, burns or permanent stains of the interior fabric; cracked or broken glass; alterations that detract from the vehicle’s worth; and mechanical and electrical malfunctions.
6. IS THERE A MILEAGE LIMIT ON MY LEASED VEHICLE? Your lease contract allows 15,000 miles per year. If the allowable mileage limit is exceeded, an excess mileage charge may be assessed at the end of the lease term.
7. HOW DO I LICENSE MY LEASED VEHICLE? You are required to assume the responsibility and cost associated with the annual re-registration and re-licensing of your vehicle. Prior to your annual license plate and registration renewal date you will receive, from the State of Michigan, information regarding how to re-register and re-license your leased vehicle. Please renew your plates promptly.
8. WHAT SHOULD I DO IF MY VEHICLE IS INVOLVED IN AN ACCIDENT? Contact your insurance company immediately to inform them of the accident. You and your insurance carrier are responsible for repairing the vehicle. During the time your vehicle is being repaired, you are still responsible for making your monthly lease payments.
Should your insurance company determine your vehicle to be a total loss, you will need to immediately contact SMARTWAY AUTO to provide insurance carrier contact information to enable SMARTWAY AUTO to process a settlement with your insurance company. You will be responsible for any applicable insurance deductible and for any past due payments or other charges up to the date of the total loss.
9. WHAT SHOULD I DO IF MY CONTACT INFORMATION CHANGES OR I MOVE TO A NEW ADDRESS? Immediately notify SMARTWAY AUTO of new phone or address information. This will allow SMARTWAY AUTO to maintain contact with you and for any correspondence to reach you in a timely manner.
10. WHAT ARE MY LEASE END OPTIONS?
As your lease contract comes to the end of its term, you will receive a letter reminding you of your lease expiration date and setting forth your lease-end options and responsibilities.
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