Each time you hear you could have equity in a leased vehicle, people are astounded and confounded. Drivers who got into the habit of handing over their old keys and getting another lease regularly never check for other options. Toward the end of the lease period, you have three choices:
- Leave the lease: You will owe mileage charges if related, and any excess wear and tear charges.
- Exchange the vehicle for a new lease: You can exchange it for any new model you want, and you are not obligated to return to the same dealership you leased it from.
- Buy the vehicle: You have the right of first refusal to buy your leased vehicle for the remaining worth. If you don't buy it, the lease organization gets it back and sends it to sell. When you buy your rented Porsche, there are no wear-and-tear or mileage expenses.
For additional information, visit our dealership in Seaside, CA for help on lease end alternatives.