What to Do If You Don't Want the Car After One Year with Tangeche?
2 Answers
If you don't want the car after one year with Tangeche, the only option is to return the car. Here are several ways to handle the car when the one-year term with Tangeche expires: Return the Car: The owner can choose to return the used car to Tangeche, but it should be noted that some car models from Tangeche cannot be returned. Pay the Remaining Balance: Keep the car and pay off all the remaining balance in one lump sum, but the owner must have the qualification to register the car. Installment Loan: Alternatively, apply for a 36-month installment loan with Tangeche to pay off the remaining car balance in installments, after which the vehicle will be transferred, with the transfer fees borne by Tangeche. Continue Leasing: Depending on the owner's personal situation, they can also apply to continue leasing the car, but some models cannot be leased further.
My buddy ran into this last year. The first year with Tangeche is essentially a long-term lease. After one year, you have these options: either continue with monthly payments to buy out the car and own it; return the car to terminate the contract, but be aware there’s a wear-and-tear inspection fee—they check thoroughly, deducting for scratches, tires, and interior damage; or transfer the remaining payments to someone else, but that requires platform approval. If your loan contract includes a buyout clause and you suddenly decide not to continue after a year, you might face a penalty—best to check the paperwork you signed for specifics.
