How to use EXIT RAMP
Turning in your vehicle and moving into your next one.
When your needs change, Exit Ramp gives you a path back to your dealer and a benefit toward your next vehicle. Using it is a trade-in: you return the vehicle on your agreement and purchase another one, new or used, from the dealer you bought from or another dealer in the same ownership group.
Before you start
- You are past the first 12 months of your original loan or lease.
- You are trading in the vehicle listed on your agreement and buying your next vehicle from your original dealer or its dealership group. The benefit cannot be used elsewhere, and there is no cash alternative.
- You have contacted the dealership you bought from to let them know you would like to use your Exit Ramp benefit. They start the process for you.
The turn-in, step by step
1
CONTACT YOUR DEALERSHIP
Reach out to the dealership you bought from and tell them you plan to use Exit Ramp. This is your first step, and they take it from there with the administrator.
2
GET YOUR VEHICLE READY
Clean it inside and out, gather all keys, manuals, and original accessories, and take care of warning lights, open recalls, and overdue maintenance. An inspection may be scheduled to confirm condition and mileage.
3
CHOOSE YOUR NEXT VEHICLE
Visit your dealer, pick your new or used replacement vehicle, and trade in your current one. Your odometer reading is recorded at the time of trade.
4
YOUR DEALER SUBMITS THE CLAIM
The dealer sends the administrator the paperwork on both vehicles, your lender’s payoff and payment history, and market value documentation for your trade.
5
YOUR BENEFIT IS CALCULATED
The administrator reviews the file and determines your benefit amount, up to the maximum on your agreement.
6
THE BENEFIT GOES TO YOUR DEAL
Your dealer is told the benefit amount, and the funds are sent promptly to the dealership and applied to the vehicle you are purchasing.
What the paperwork includes
Your dealer gathers and submits these items. Bring your own copies to the dealership.
From you
- A copy of your Exit Ramp agreement
- Your original bill of sale or buyer's order
- Your original finance or lease contract
- Service records, if requested
- Anything else your dealer reasonably requests
From your dealer
- Buyer's order on your replacement vehicle
- Buyer's order on your trade-in
- Payoff and payment history from your lender
- Wholesale market value report (MMR) on your trade-in
- Odometer reading at the time of trade
If the trade-in value your dealer gives you is within 2% of the vehicle’s wholesale market value (after any mileage adjustment), your claim moves ahead with no further documentation.
How your benefit is calculated
Your benefit starts with the gap between your loan or lease payoff and your trade-in allowance. The administrator then accounts for the following, and the result is paid up to the benefit amount on your agreement.
1
Negative equity you brought into the original purchase. Any balance rolled in from a previous vehicle that is still outstanding is not covered and remains your responsibility.
2
Excess mileage. $0.13 for every mile over 1,500 per month (18,000 per year) on financed vehicles, or over your prorated mileage allowance on a lease.
3
Refunds on cancellable products. Refunds due on products such as a vehicle service contract, GAP, or tire and wheel coverage are credited against what you owe.
4
Market adjustment. Any market adjustment over $3,000 on your original purchase is excluded.
5
Vehicle condition. Excess wear, damage, missing items, or neglected maintenance found at inspection may reduce the benefit, based on reasonable market repair costs.
You remain responsible for any deferred, skipped, or unpaid payments and related penalties on your original contract, and for any amount beyond your benefit.
Protect your benefit before turn-in
Most deductions are avoidable. A little preparation helps you keep more of your benefit.
- Schedule a professional cleaning and a basic inspection.
- Check tire tread (at least 4/32") and make sure all four tires match in brand, size, and speed rating.
- Repair small items such as minor chips, and replace any missing keys.
- Return everything that came with the vehicle: keys and remotes, owner's manual, spare tire or inflation kit, jack, tools, and cargo covers.
- Resolve warning lights and open safety recalls. Clearing fault codes beforehand does not help, since stored codes still appear on a diagnostic scan.
- If you receive an inspection report with charges, you have 5 business days to dispute it.
