auto

What is an excess-wear charge?

 

What is an excess-wear charge?

The Bankrate.com financial term of the day is: "Excess-Wear Charge"

Leasing a car can be a lot like renting an apartment. When you move out of your apartment, you can lose your security deposit if you leave the place totally trashed. In similar fashion, you might have to pay what's called an excess-wear charge if you return your leased car in poor condition.

Most auto leases will accept that you'll put a certain amount of wear and tear on the car. But if you beat up on the vehicle too much, you'll be assessed an excess-wear charge when the lease term is up.

To find the best new cars and the best new-car financing, visit the Auto section at Bankrate.com.

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