What to do at the end of your lease
You have three options once your car lease is up. You can return your car, purchase it from the dealership or swap your current lease for a new one. Here are a few tips to help you make your decision.
Questions to ask yourself
There’s no right or wrong answer when it comes to making a decision about your lease. You have to do what’s best for you and weigh your options. Answering the following questions might help:
- Is the car reliable?
- Does it meet your needs?
- Is the car’s buyout price less than its market value?
- Are the return fees reasonable?
- Did you exceed the mileage limit?
- Does the car require expensive repairs?
If you aren’t attached to the car and don’t like it anymore because it lacks storage space, is a boring colour or has poor gas mileage, returning it to the dealership might be your best option.
However, if you love the car, and it’s still in good condition, it may be best to buy it from the dealership at a fair price, even if you have to resell it in a few years.
At the end of your lease, it’s a good idea to discuss your options with the dealership and consider your preferences and needs to find the best solution.
At Mr. Muffler, we’re committed to helping you extend the life of your vehicle. Schedule an appointment today!