As leases grow more popular, our customers are learning just how many benefits there are to financing in such a way. A Genesis lease can offer lower monthly payments, decreased service expenses, and short financing terms that allow drivers to take home new vehicles every two or three years.
We find that many of our customers have questions about what happens at the end of a lease, so we decided to go through some of the most common questions surrounding this very topic.
What Are My Options at the End of a Car Lease?
Basically, drivers have three options when the terms of a lease end:
- Trade it in for a new car and lease.
- Buy the vehicle you’ve been leasing.
- Turn in your keys and walk away.
While any of these are viable options, buying the vehicle you’ve been leasing is the one that many people forget exists. If you’re interested in keeping the model you’ve been driving, simply speak to a dealer here at Genesis of Wilkes-Barre so they can help you stay in the car you love!
How Do I Prepare for the End of a Lease?
If you’re turning the car in, you’ll want to check on a few things before you do. These include:
- Locating all keys, the vehicle handbook, original floor mats, and any other accessories that were original to the vehicle.
- Checking your mileage to be prepared for potential overage fees.
- Repairing any minor dings or scratches on the vehicle’s exterior.
- Repairing cracks in windshields.
- Repairing damage to interior of the vehicle, including rips, tears, etc.
Repairing small imperfections helps prevent excessive wear-and-tear fees. Once you’ve done all that, it really is as easy as turning in the vehicle and determining the steps for your next vehicle purchase!
If you have any questions about this process, just ask your Genesis dealer here at Genesis of Wilkes-Barre. We can help you through every step of the process!
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