What To Do When Your Lease Ends

Are you nearing the end of your lease? Don’t let that cut-off date creep up on you without a plan! Consider one of these common end-of-lease options below:

Extend the Lease

Many lease agreements have a built-in extension option that makes extending your lease as easy as adding your signature to a piece of paper. If you’re not exactly sure what you’d like to do next in terms of vehicle ownership, extending your lease is a great option. It gives you time to consider alternatives and keeps you behind the wheel of a vehicle you can trust while you figure out your next step.

Return the Vehicle

Returning your vehicle at the end of lease is very simple, but often comes with some additional fees. Common end-of-lease costs includes fees for going over mileage or standard wear-and-tear limitations as agreed upon at lease signing.

Buy the Vehicle

Many leasees choose to purchase the car for its residual value come the end of the lease. Residual value is the market value of the vehicle when considering the depreciation that has accrued over the course of the lease.

Sell the Car

You can choose to buy the car for its residual value and flip it. This is a great option for those who are experienced in buying and selling vehicles. Keep in mind that purchasing the car from its lessor will include applicable taxes and end-of-lease fees.

No matter your plan, the finance team at Bill Seidle's Nissan can help. Stop in and see what your best options are.