Options when your lease has ended

Leasing a car can be a good decision. Not only does it allow you to get a new car for a lower monthly payment, but it also gives you some flexibility when your lease is over. Once your lease is up, you have a few choices.

Most leases allow you to buy the car after the lease is done. Your contract should have an agreed-upon residual price that takes into account what you have paid as well as depreciation.

You also can walk away from the car. As long as it is in good shape and is under the mileage limit, you shouldn't owe anything extra.

Some leases may have a clause that allows you to extend for a few more months. This can be handy if you aren't quite ready to give up the car.

When your lease is up, come to Cabral Chrysler Jeep Dodge Ram in Manteca to review your options.
Categories: Finance
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