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Is it a good idea to buy your leased car?

5 Times When You Should Buy Your Leased Car. The buyout option at the end of a car lease can be an attractive opportunity or a tool for damage control. The buyout price is set by the leasing company at the beginning of your contract. If you're anticipating extra fees and penalties, buying the car can cut your losses.

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

Every leased car must be returned by the lease termination date on the contract. The vehicle can be returned to any dealer of the same brand. (If you are using Intelligent for your new vehicle you can just return your current leased car to us.)

Can a leased car be turned in at any dealership?

1. Sell your leased car and get a check. 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.

Can you turn in a lease early to another dealer?

Can You Trade in a Leased Car Early to Buy Another Car From a Different Dealership? At any time during your lease, you or someone else can purchase your vehicle from your leasing bank, allowing you to trade in your car to a different dealership than the one holding the original lease.

Can you put different tires on a leased car?

When it comes to replacing tires on a leased car, you'll likely need to pay out of pocket. Most leases do not cover tire replacement. In fact, if you return a leased vehicle with less than one-eighth of an inch of tread on the tires, you may be charged for new tires by the car leasing company.

What happens when you return a leased car?

If you can afford to buy out your lease, you have the option to return your leased car to the dealership. Provided you pay the difference between the amount you have paid to date and the amount you owe for the remainder of the lease, your credit will not suffer when you return the vehicle.

Is there a grace period for returning a leased car?

The reason for this charge is self-explanatory: If you don't return the vehicle by the lease expiration date, you could get hit with this penalty. Some leasing companies offer a grace period of a few days, but to be safe, you should turn the car in on or before the lease end date to avoid this fee.

What happens if you don't return your leased car on time?

The reason for this charge is self-explanatory: If you don't return the vehicle by the lease expiration date, you could get hit with this penalty. Some leasing companies offer a grace period of a few days, but to be safe, you should turn the car in on or before the lease end date to avoid this fee.

Can you return a car you just leased?

When you sign an auto lease, you may notice a sign in the finance manager's office stating, “There is no cooling-off period.” Unlike a mortgage or other loan, a car lease contract is final, and there is no three-day right to rescind your contract. You cannot turn in your keys and change your mind.

Is there a grace period for car leases?

Protections during the Lease Agreement You have a ten-day grace period on all monthly payments before a late charge may be assessed. If you default, you have a right to reinstate the lease once during the lease term if the reason is limited to late payments.

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