In the hopes of enhancing the leasing experience for its customers, Toyota Financial Services and Lexus Financial Services announced this week the launch of its new Excess Wear & Use Protection Plan.
EWU aims to simplify the lease-end process by eliminating claims forms, deductibles, and reimbursement requests. The new program will also waive excess wear and use charges that consumers would otherwise be responsible to pay at the end of term.
The program covers items that are beyond normal wear and tear, up to specified limits, including:
• Interior cuts, burns, or stains
• Damage to tires, rims, or hubcaps
• Broken or scratched windshield, window, mirrors, or lights
• Damaged bumpers, body dents, dings, or scratches
• Missing parts or equipment
The TFS/LFS Excess Wear & Use Protection Plan is not available for dealers in the Gulf States Toyota or Southeast Toyota regions, as well as dealers in AK, NE, NY, TX, and UT.
TFS/LFS Group Vice President of Sales, Marketing, and Product Development Mike Groff said the consumer experience was “top-of-mind” when creating the product.
“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,” he said. “We kept things simple and packaged high-value benefits and features into one comprehensive plan for Toyota dealers and one plan for Lexus dealers.”
