What to Do At the End of Your Lease - Lease End FAQs
If the end of your lease is coming around, it’s time to make a decision on what to do but first, you’ll want to consider all of your options. You have a few choices, each depending on how you feel about the car and your financial situation. Weigh each of the following options and determine what to do at the end of your lease.
Return the Car
The most obvious choice, returning your car implies you’ll allow your contract to expire. You’ll return the car as planned. While you may have to pay for some damages and possible mileage penalties, those costs won’t empty your wallet. This is the easiest and most straightforward option.
Extend the Lease
If you’ve grown attached to your car but aren’t sure if you want to buy it, consider extending the lease. Your monthly payments will likely stay the same but you can’t extend the lease indefinitely.
Trade the Car In
Trading your current leased vehicle for an upgrade requires ending the lease as planned. Afterwards, you’d have to talk to the dealership about leasing a new model. The finance department can usually help you lease a new vehicle without issue.
Buy the Car
Once your lease is over, you have the option to buy the car for the car’s predetermined worth at the beginning of your lease. To accurately calculate the cost, contact our finance department.
For more on leases and options that best fit you and your lifestyle, give Union Park BMW a call today. Our very helpful and trained finance department is readily available to assist with whatever you need. Let us do that hard work for you! Lease with us today.
We offer a large selection of new BMW cars, as well as used cars, BMW parts, and service for all BMW models, including the 3 Series, M3, X3, and X5.
For over 50 years Union Park has earned a reputation for integrity in the sale, service and repair of motor vehicles. Recently, Union Park was recognized as Delaware’s Family Business of the Year. Union Park has been a member in good standing of the Better Business Bureau for many years.