Vehicle damage above allowable limits; assessed when a lease or balloon loan vehicle is returned Finance companies typically charge fees for excess wear, tear, and mileage on returned lease and balloon loan vehicles
The normal decrease in value created by regular usage, such as wear and tear on carpet in a commercially leased office space; the lessor would usually be responsible for its replacement
As a rule of thumb, if you have more than $100 worth of damage to your vehicle - mechanical, exterior, interior, glass, tires - you will be charged for repairs It's usually cheaper to have the damage repaired yourself Toward the end of the lease, if you're not buying the car, the leasing company will send an appraiser to assess the damage or require you to bring the car to your dealer for appraisal If you don't agree with the appraisal, don't sign it Instead, get your own appraisal Some leasing companies, especially those with very high residuals, will try to charge even the cleanest cars for excess wear and tear
A common degree of decline or lower value caused to the premise from the normal use of the premise Example: A mark on a wall where a couch had been placed or the wearing of a carpet in a traffic area
The deterioration or loss in value caused by the tenants normal and reasonable use In many leases the tenant is not responsible for "normal wear and tear " See also "Normal Wear and Tear "
Wear and tear is the damage or change that is caused to something when it is being used normally. the problem of wear and tear on the equipment in the harsh desert conditions. Loss, damage, or depreciation resulting from ordinary use and exposure