How Does the End of a Car Lease Work?

September 9th, 2021 by

A customer signing paperwork with a sales professional

How Does the End of a Car Lease Work?

Car Leases Are Becoming an Increasingly Popular Form of Auto Financing

Is your car lease nearing its end? Perhaps you’re considering a lease, and you want to learn more about what you’ll experience when your agreement reaches its conclusion. Wherever you stand, we’re here to help you remain ahead of the curve with information that’ll help you navigate the end of a lease with absolute confidence.

Are you wondering how leases differ from traditional car buying? Let’s examine the primary differences that separate vehicle purchases from lease agreements.

Most drivers take out an auto loan when buying a car, so they don’t have to pay off the vehicle’s total purchase price at once. This loan will allow a car buyer to make monthly payments that eventually cover the vehicle’s total cost and any interest that the lender charges.

You can look at a lease agreement as being similar to renting a vehicle as the dealership you’re leasing from will still own the car during your term agreement. Vehicle leases will generally have lower monthly payments than car buying since your money covers the vehicle’s depreciating value during your term instead of the car’s total value. Drivers looking to sign onto a lease agreement can look forward to a smaller down payment in addition to these reduced monthly costs.

The average leasing contract is 2-4 years in length with specific restrictions that include annual mileage limits, condition return requirements, and the prohibition of vehicle alterations. A failure to abide by these restrictions will result in end of car lease charges. Dealerships utilize an end of lease inspection checklist to verify that a lessee has met these guidelines.

Let’s dive into the heart of the matter and discuss what options you have during a lease’s conclusion.

An Overview of End of Car Lease Negotiations

Spitzer Chevrolet Amherst will give you a heads up when your lease is coming to a close so you can make the move that’s right for you.

Returning your vehicle and walking away isn’t your only route when your lease’s contract expires. Many drivers fall in love with the car they’re leasing. You can continue to drive the car your leasing after its term ends through a car lease buyout or by extending your lease term.

Do you want to slide behind the wheel of an all-new model? Consider opting for a new vehicle lease when handing back your keys during your term’s conclusion. Spitzer Chevrolet Amherst works to make this transition as seamless as possible with monthly lease specials on standout new vehicles.

Spitzer Chevrolet Amherst Monthly Lease Specials

Quality lease deals are a short click away when you utilize Spitzer Chevrolet Amherst’s Monthly Specials page.

Have you found a Spitzer Chevrolet Amherst lease special that you can’t resist? Click View Inventory to ensure that we have your desired vehicle in stock before hitting Claim My Offer.

Leases are Always a Good Idea Spitzer Chevrolet Amherst

Spitzer Chevrolet helps you think carefully about your leasing decisions so you can gain complete satisfaction from your financing experience. Check out our dealership’s Monthly Specials page to acquire a lease that checks all of the right boxes.

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