Perhaps you were searching for more budget-friendly car payment plans, leading you to lean toward leasing. Or perhaps you simply preferred to work directly through a dealer instead of through a third-party bank, which led you to lease in lieu of applying for a loan.

 

Either way, you’ve ultimately decided leasing is right for you, but that doesn’t mean you have all of the answers yet. In fact, there’s actually one common question potential lessees find themselves asking:

 

What comes after the lease?

 

What Does It Mean To Lease?

 

When it comes time to decide what, exactly, you’ll be driving off the lot, you’ll find it’s more important than ever to understand the differences between leasing and buying.

 

Of course, when you purchase a car, you’ll either own it outright or be making monthly payments in order to eventually purchase the title. And while leasing also features monthly payments, the general concept is not the same as purchasing.

 

“When you lease a car, you’re paying for the right to use it for an agreed amount of time and miles,” the Federal Trade Commission (FTC) explains. “With a lease, you’re paying to drive the car, not to buy it. That means you’re paying for the car’s expected depreciation — or loss of value — during the lease period, plus a rent charge, taxes, and fees.”

 

In many cases, leasing is also less expensive than purchasing a car, thereby offering additional incentive to customers who are not yet ready to commit to one car for an undetermined period of time.

 

What Are My Options After Leasing?

 

“As you near the end of your lease, you'll want to start thinking about whether to buy the car you're currently driving or lease a new one,” according to U.S. News. “If you're happy with it and its buyout cost is in line with similar pre-owned cars on the market, you'll want to consider buying it.”

 

Some individuals in the workforce, particularly those who desire to continually lease new cars for business purposes, may ultimately continue to opt for sequential leases, thereby always driving the latest models.

 

Otherwise, if one is happy with their leased vehicle but is still not prepared to buy it, they may instead choose to extend their overall leasing period.

 

Take note, however, that if you decide to end the lease before the contractual time period is up, you may face additional termination charges.

 

Returns Are So Simple With SOJAX

 

When it comes time to face the end of your contract, you may find yourself concerned as you anticipate continual pressure from your dealer.

 

But here at Subaru of Jacksonville, you can rest assured that there is no obligation for you to buy or lease another Subaru from our inventory. In fact, we make the return process as streamlined as possible by providing you with a Subaru professional to walk you through your end-of-lease options! How is that for removing the weight of expectation?

 

And if you want to renew your lease? Don’t worry, we’ll happily help you extend it for another six-month period.

 

Or are you instead curious about taking a peek at other potential models for a new lease? Well, then right this way — allow us to guide you to our showroom.

 

No matter what, lease returns are simple with SOJAX. All makes, all models, and all options are available to you. So, are you ready to learn more? Simply contact our team today by calling 904-641-6455 or visit www.sojax.com!

Categories: New Inventory