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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.

What are my options when my car lease is up?

Buy the car, usually for the amount of the residual, or buyout, value set in the lease. Extend the lease for a limited amount of time, usually at the same monthly rate. Re-lease it, via a used-car lease, or. Trade your leased vehicle in on a new lease.

What happens when my auto lease is up?

If you opt for a lease buyout when your lease is up, the price will be based on the car's residual value the purchase amount set at lease signing, based on the predicted value of the vehicle at the end of the lease. This amount may also be called the buyout amount or purchase option price.

Can you keep your car after the lease is up?

This voluntary payment is decided at the beginning of your lease, and allows you to keep your hire vehicle if you want to. Alternatively, if you decide you do not want to keep the vehicle then you can also return it to the car lease company at the end of your lease.

Is it worth buying a car at the end of a lease?

If the residual value is set too low, you can buy the car for less than it's worth at lease end. Moreover, leasing companies have to resell their returned cars either directly to a dealer or through an auction. Often they will negotiate a buyout price that's more favorable to you to avoid that hassle and expense.

Should I extend my car lease?

One option is to extend your lease temporarily. This will buy you more time to find a better deal, and lock in a lower rate. Leasing is good for people who don't necessarily want to commit to a vehicle for the long term, but you may want to extend your lease sometimes the offer will be for a few months, she says.

Do I have to turn my leased car to the same dealership?

In theory, you should be able to return the leased vehicle to any dealership of the same brand. If you've moved or the dealership is no longer in business, you'll obviously have to choose another one. Call the used-car manager to set up an appointment for the lease return.

Can you return a leased vehicle to a different dealership?

If you want to return a leased car to a dealer you didn't lease it from, that dealership must be affiliated or have an agreement with your leasing company. When you lease from a captive lender, you're free to return the leased vehicle to any franchised dealer of that brand.

Do I have to turn my lease into the same dealership?

You can take your car to any dealer, not just the one where you arranged the lease, and let the dealer buy the car at the trade-in price. The dealer will pay the leasing company what you owe and give you a check for the equity.

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