At the end of a car lease, you have a few options: return the car, buy it, or lease a new one. The process typically includes an inspection to assess wear and tear and confirm the car's condition, which may affect any final fees.
Here are your main options at lease end:
Return the Car: Simply return the vehicle to the dealer. You may owe fees for excess mileage or damage beyond normal wear.
Purchase the Car: Most leases allow you to buy the car at its residual value, which can be a good option if the car's market value is higher than the buyout price.
Lease a New Car: Many dealers offer loyalty incentives if you lease another vehicle with them, allowing you to upgrade with favorable terms.
End-of-Lease Checklist:
Schedule an Inspection: Dealers often inspect the car for damage. Preparing in advance can help you avoid unexpected costs.
Check for Mileage Overages: If you've exceeded the mileage limit, expect to pay per-mile fees.
Understand Wear and Tear Standards: Familiarize yourself with the dealer's wear-and-tear guidelines to avoid unnecessary repair fees.
By planning for lease-end fees and understanding your options, you can make an informed choice that best fits your needs and budget.
Curious about leasing options? Visit Auto Bandit to find the best deals and learn more about how leasing can work for you.
