Things to Do Once Your Car Lease Is Up

It’s understandable that you opted for car leasing. You didn’t have enough money to buy a new car. You knew that leasing would be a more practical choice. The monthly fees weren’t as high as financing a new car. After some time, your lease is about to come to an end. You now face a tough decision regarding what to do next. These are the possible choices and when they would be perfect for you.

Extend the Lease

You already know your car and you’re comfortable with it. You don’t have to adjust to a new car. Your needs remain the same. Therefore, extending the lease might be the right move. The best part is that you can renegotiate the lease. You already paid a part of the value of the vehicle when you first drove it. You need to get an amount based on the current value of the car. Besides, after using it for a while, it would be difficult for car dealers to find someone else to take the car. They would rather negotiate a new monthly fee with you.

Buy the Car

It’s also possible for you to buy the same car once the lease is over. You can negotiate a price that’s reasonable enough considering how much you already paid during the lease period. Again, it works if your needs remain the same and you don’t intend on having a new car any time soon.

Look for a New Car to Lease

Another option is to lease a new car. The good thing about leasing is that once the contract is up, you don’t have to renew it. You can always find a new car to lease. If you maintained a good relationship with the dealer, you can lease a new model with the same company; otherwise, there are always tons of alternatives out there. For quality car leasing choices, you can check out https://www.genusleasing.com. Make sure that you don’t waste this opportunity. Look for a vehicle that you want and that you won’t mind paying for over the next few years.

Buy a New Car

You leased a car before because you were in a difficult financial state. You didn’t have a stable income source. Therefore, you decided to lease to reduce your monthly expenses. Now, you might have saved enough money. You also have a stable income source. Perhaps, it’s time for you to consider buying a new car. Some car lease dealers also offer other vehicles for sale. You can stay with the same trusted dealer or you can look for other dealers. Since you’re going to pay for a new car this time, you have to research well. Compare all the choices available so you won’t regret the car you own.

All these options are possible once you finish your lease. It’s up to you to decide which way to move forward. Check your financial status to help you make up your mind.