Toyota, Lexus Debut ‘Excess Wear’ Plan for Lessees

By Charles Krome

While leasing can make it a lot more affordable to get into a new car or truck, getting out of some of those “additional” charges when the lease expires can be a bit trickier—unless, of course, you take advantage of the new Excess Wear & Use (EWU) Protection Plan offered for Toyota, Lexus and Scion vehicles.

The program is designed to help eliminate that awkward—and occasionally expensive—scenario in which a lessee turns in a vehicle and then has to debate the cost of fixing minor issues with the dealership’s customer service representative. To accomplish this, Toyota simply waives the traditional “excess wear and use” fees usually tacked on at the end of a lease, including charges for:

• Cuts, burns and stains in the cabin

• Damage to the tires, rims and hubcaps

• Broken/scratched windshields, windows, mirrors and lights

• Damage to the bumpers as well as dings/dents/scratches to the exterior

• Missing parts or equipment

In addition, there are no deductibles to pay, no claim forms to submit and no worries over reimbursements for past repairs paid for by the drivers.

Now, that doesn’t mean the program is ideal for everyone: There are specified limits to the coverage, and the program won’t be available to a fairly substantial chunk of the country. Drivers in Alaska, Nebraska, New York, Texas and Utah, as well as those served by dealers in the Gulf States Toyota or Southeast Toyota regions, need not apply. And there is a charge for the program, too; EWU customers are essentially paying a known, fixed cost up front to avoid the possibility of paying even more when the lease term expires—and perhaps garner some piece of mind at the same time.

“We developed EWU in collaboration with dealers and industry advisors with the consumer experience top-of-mind,” said Mike Groff, group vice president of Sales, Marketing and Product Development for both Toyota and Lexus Financial Services. “We want to help our customers avoid unexpected charges when they return their vehicle at lease-end and provide a hassle-free, customer-friendly claims process. We kept things simple and packaged high-value benefits and features into one comprehensive plan for Toyota dealers and one plan for Lexus dealers. And I’m also proud to say that our EWU product is 100 percent built and backed by the strength of Toyota Financial Services.”

For more information, please visit www.ToyotaFinancial.com or www.LexusFinancial.com, and for a “humorous” look at what the program can offer, tune into http://www.youtube.com/watch?v=7DXwKNHTQw4.