Explore the Options Available at the End of Your Lease

Like all great things in life, when you lease a vehicle, its term will eventually show its friendly face. You’ll receive a warm letter from the lessor – most of the time a dealership – informing you of the last day you will have the car, truck, or whatever your most-desired vehicle is, to do as you want with it. Following are four common scenarios that occur following the closure of a leased vehicle term:

  • When you return the vehicle, you simply might not want to lease again, or just might want a break from the responsibilities of leasing for a little while.
  • It’s possible you could ask for a lease extension, which will often be cheaper than the first time you leased it.
  • Sometimes, when given accumulated equity in the vehicle you leased, it makes a good business opportunity to sell the leased vehicle after buying it from your potentially-former lessor.
  • If you really liked the vehicle, you just might buy it for yourself. Congratulations.

Still have questions about the process at the end of your lease? Don’t hesitate to call our team at South Lake Motors if you’re contemplating options.

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