Lease End Protection: Always Take It

It has multiple names: "Lease End Protection", "Lease Guard", "Wear & Tear", "Excess Wear & Use Protection"... But it is essentially the same coverage. It covers up to a maximum amount of damage on your car that will be waived off if you have this kind of "insurance" on your contract. So, if you are leasing a car: always take it.

"Damage" Will Happen

What is more aggressive for a car than the road? Just a crash, but other than that, being exposed to the weather, potholes, things that jump on the road, ice, snow, a yogurt spill by your kids, a coffee spill by you... so many things can happen to a vehicle that is not strictly a mechanical thing.

Leased vehicles are literally "rented vehicles" so we have a responsibility with the conditions of it. If we accidentally break a seat, the radio, scratch the vehicle with a bush or simply damage a non-mechanical part of the car, it is up to us to run with the costs. The "visual damage," specifically dents and scratches are a very common problem, and you don't want to be every single day of your life, worried that something may accidentally scratch your leased car.

Getting it is peace of mind, is not being that stressed out with your kids putting their feets accidentally on the seats, not being worried about the snow removal mini-dozer that pushes all snow on top of your car... Additionally, if you suddenly need to transfer your lease, having a "Lease Guard" will help you ease the transition. People will ask you to fix or repaint problems before they sign. Having a coverage will make the transfer smoother and will retain the responsibility on the dealer, not on the contract owner.

Although you will always find an average 7,500-10,000 CAD coverage, each manufacturer has its own specificities about it. Once again, I insist: the "Wear & Tear" protection is a must of you are leasing a vehicle. First, it isn't too expensive, as it costs around 800-1,200CAD that can be split into the regular lease payment. And second, you will need it, no matter what.

Shit happens. Damage will occur. 

About the author

Jorge Diaz is a passionate car lover, winter driver & Software Engineer. For the last 10 years, he has built Online Solutions used by more than 5,000 companies across the globe. He founded LeaseCosts in 2016 with the purpose of simplifying and helping people to better understand the complex market of new vehicles in Québec and Canada. You can connect with Jorge in LinkedIn or send him a direct message.