At the normal end of a lease, you may have the following options:
- Return your vehicle, extend your lease, re-lease, purchase, or trade.
- Depending on the details of your particular lease situation, some of these options may be available to you while others will not be.
How it works
About a month before the end of your lease, you will be contacted by your leasing company. They will instruct you regarding having your vehicle inspected and returned to them. Normally, the return is made to a dealer, from which the lease company will pick up the vehicle.
They may also remind you of your option to purchase your vehicle and provide you a purchase buyout price, which may be a better price than stated in your lease contract. They may also offer to extend your lease for specified terms.
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