Here Is What You Can Do When Your Lease Expires

All leases are bound to expire sooner or later. If your lease is set to expire in the near future, there is no need to fret. Know your options in advance, so you can take the best course of action for yourself. Many people simply return their cars to the dealership when their lease ends. You just hand in the keys and walk away. Some people are unaware, however, that if you drove over the mileage limit that there will be a fee for every mile over the limit. Any damages to the vehicle will also probably incur a charge.

If you have driven over the mileage or have some damage to the vehicle you are leasing, it may make more sense to try and buy out the vehicle. This way, you can avoid paying for costly repairs and over the mileage penalties. It may also be possible to get a short-term lease extension, but you will have to talk to the dealership finance department where you leased your vehicle from.

Whether you decide to hand in your current vehicle or try and buy it out, talking to our finance team at Leckner Chrysler Dodge Jeep Ram is a smart idea. We can explain the pros and cons of each decision and how it will impact your bottom line!

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