If you are leasing or planning to lease a new vehicle from Classic Buick GMC, it's never too early to begin preparing for the end of that lease. You will have a few different options, so even if your lease is relatively new, it's a good idea to consider them early so you have enough time to think about the best solution for you.
You will be contacted by the leasing company around a month before contract end. At this time you will receive instructions on how to go about inspecting and returning your vehicle, and you will be given your lease-end options. There are usually four, and they are:
- Extending the lease: If you would like to keep the vehicle little longer, but still don't want to commit to buying it outright, you might consider extending your lease. This might be a good option if you are close to exceeding your allotted mileage.
- Purchasing the vehicle: You will also be given the option to buy the vehicle outright, or turn the lease into a loan. In this case, you can continue making payments, except the payments will no go towards ownership.
- Trade the vehicle: You can trade the vehicle in for a new loan or lease. This is a great option if you want to always be enjoying the latest vehicle technology.
- Return the vehicle: If is no excessive damage to the car, and you're under your allotted miles, you can turn the vehicle in and walk away, free and clear.
A note on Early Termination: It can be quite costly to end your lease early. This is because the terms of the contract will still need to be fulfilled. The further away the end of your lease is, the more it may cost you. If you think you need to terminate your lease early, it's best to contact the leasing company to discuss your options.
If you want to learn more about leasing from Classic Buick GMC, or if you have any other questions about financing, don't hesitate to contact us or come visit us in person to speak with a representative. We'll be happy to help.