What To Do if You Miss a Chrysler Lease Payment

At Brooklyn Chrysler Jeep® Dodge RAM, we take pride in keeping every aspect of your car-buying or leasing experience as transparent and pain-free as possible. Besides an extensive inventory and great Chrysler lease options, we also ensure you have everything you need to know about the vehicle leasing process. To that end, here’s a closer look at the steps you’ll want to take in the event that you miss a lease payment.

Stay Calm

To start, you don’t have to panic. Most dealerships have a grace period that typically lasts between two weeks and 30 days following the missed payment. It’s essential to use that grace period to make your payment to the best of your ability. This will help you to avoid further charges and complications.

Reach Out to Your Dealership

If you’re struggling to make your lease payment, it can be helpful to call the dealership and see if they have any extension options or payment plans available. You may be able to arrange an extension or change your current terms so that you can more easily make the payments every month.

Watch for Late Fees

If you don’t make your lease payment, you may start to see other charges accrue, including late fees and early termination fees. This applies equally whether you or the leaseholder terminate the lease, so it’s vital not to fall too far behind on payments.

Check Your Credit Score

Your credit score can negatively affect your ability to lease a car, and failure to make lease payments can affect your credit score in return. It’s important to pay attention to your credit score so you know if it fluctuates or changes.

You can learn more about the Chrysler leasing and Chrysler financing processes right here at our Brooklyn Chrysler dealership. Schedule a test drive or meet with our financing team today!