What to Do When Your Lease Ends
Those who lease vehicles sign up to essentially borrow a car, motorcycle, boat, etc. for a set length of time. Although lessees are required to return the vehicle at the end of the lease, they only fork over a fraction of the true purchase price. This makes monthly payments more affordable, helping lessees stay in current cars more affordably.
At the end of your lease, you should be mindful of the options waiting for you:
- You might be asked to return the leased vehicle because another person wants to purchase it, or the lessor has other plans for the vehicle.
- Leasing another vehicle is another option, and something your dealership can help set up.
- A third scenario involves the lessor equating some of the payments you’ve submitted to their account as credit, only usable in the event you buy their vehicle. This can help you buy your leased car for less.
To learn more about the options available to you, get in touch with Sam Leman Auto Group. Our experts can help you figure out what the best choice would be for you.