What Is an Excessive Wear and Tear Waiver
Many leasing companies will offer an excessive wear and tear waiver for lessees that lease another car with the same car maker. This waiver or credit is often part of a lease loyalty program that nearly every automaker offers. Once you are ready to return the leased vehicle, the leasing company will apply the wear and tear waiver as long as you have signed another lease agreement with the same leasing company.
An example is when I leased an Infiniti G37. At the end of the lease agreement, Infiniti had a lease loyalty program that included a $1000 loyalty rebate that could be applied towards my next lease with Infiniti. Additionally Infiniti offered a $500 excessive wear and tear on the vehicle I was returning. When I returned my vehicle, I had an excessive wear and tear charge of $318. If I leased another Infiniti, I would have been able to take advantage of the $1000 loyalty rebate and the $318 would have been waived thanks to Infiniti’s wear and tear waiver. If I decided to pass on leasing another Infiniti and go with another automaker, I would have had to pay the $318 out of pocket.