Frequently Asked Leasing Vs Loaning Questions
If you're like most people, then you most likely still have questions about the leasing or loaning process. Below you'll find some of the more frequently asked questions that we receive. If you don't find the answer to your specific query, please feel free to contact us, either via phone or live chat, and one of our associates would be happy to help you.
What Happens When My Lease Ends?
If you've been enjoying your lease, but it has now ended you have three options: walk away, buy the car, or lease a different car.
- Walk Away - If you've discovered that leasing isn't for you, then feel free to return your lease and find a vehicle to loan.
- Buy The Car - If you've enjoyed the vehicle that you've been driving, then you can purchase it for an agreed upon price.
- Lease A Different Car - Enjoyed leasing? Then return your current lease and find a brand-new car to start a new lease on.
Which Financial Option Costs Less Over-All?
In the long run, you'll discover that buying a new vehicle will cost you less money. Up front you'll pay more, especially with a large down payment, higher tax costs, and more expensive monthly payments, but, after you've paid your loan, you'll be driving a like-new vehicle with no payments. Of course, you should take into consideration the new-car warranties that will eventually expire in a loan, but will restart with a new lease.
Would Leasing Or Buying Be A Better Option For Me?
As much as we would love to give you a definitive answer, the choice is really up to you.
Do you prefer owning your vehicle? Do you tend to drive many miles throughout the year? Are you the type of person who likes to drive a car until the wheels fall off? Then perhaps you should look into buying your new vehicle.
Do you always want the latest and greatest technology and features? Are you the type of person who would rather have a new car every few years than stick with an old one? Are your travels normally short and you don't normally receive a lot of excessive wear and tear? Then perhaps you should look into leasing a new vehicle. The choice is up to you.