When you are in need of a new vehicle, you have the choice to either buy or lease a vehicle. Many drivers are excited to lease, because the monthly payments are often more affordable and they can get a new vehicle when the lease ends, but what do you do when your car lease ends? There are many options available and we’re going to help you find the perfect choice for your particular situation.
What To Do When Your Car Lease Ends
There are three major options available for you when your car lease ends. The first of these options is that you can simply replace the vehicle you are currently leasing. You can do this by buying or leasing a new vehicle. At this time you can reevaluate the benefits of leasing vs buying a vehicle.
A second option is that you can buy the vehicle you were leasing. If you fell in love with your vehicle and you can’t bare the thought of letting it go, you can work with Toyota Financial Services to help you purchase it and keep it forever! Your last option is that you can simply return the vehicle when your lease it up. If you no longer have need a vehicle you can just return it to the dealership.
Related: Should you buy or lease your next vehicle?
Here at Toyota Palo Alto, we provide the Toyota End of Lease Program to help you decide what to do when your lease is close to ending. It’s never too early to start planning what you will be doing when you lease ends and we are here to help. If you have any questions, we encourage you to call or visit us here in the Palo Alto, CA area. We can even help you schedule a test drive if you want to start the buying or lease process today!