Check out our auto leasing guide to see if leasing is right for you at your local Nissan dealership AutoFair Nissan of Stratham in Stratham, New Hampshire Millions of people every year choose to lease a car vs. financing one for a variety of reasons. Leasing offers more affordable monthly payments, allows you to drive brand new cars, and usually includes excellent benefits such as hassle-free maintenance, warranties, and low repair costs. However, if you are debating whether leasing is better than buying, one of the most significant benefits might surprise you. Flexibility is one of the main pros of leasing, especially when it comes to your end-of-lease options or if you are interested in ending your lease early. Whether you just started your Nissan Altima lease or reaching the end of your Nissan Frontier lease, keep reading to discover everything you need to know about your end of lease options.
What happens at the end of your lease is totally up to you, but you'll need to consider several factors to learn what works best for you to make an informed choice.
Many leasing contracts end when you turn the car to the dealer. Before returning the vehicle, determine if a mileage overage penalty applies or if there are other fees associated with ending your lease early. If you decide this is your best course of action, contact your dealer before the end of your lease to confirm the drop-off date, time, and location. You'll also want to look at your leasing agreement a few months before returning the vehicle to make sure you do your part to avoid any additional fees. Special Offers, Deals & Discounts - Click Here
In some cases, your contract may allow you to purchase the car at a predetermined price (the "residual value"). Therefore, before purchasing, you must get an independent estimate of what the vehicle is worth because it might be more than what's stated in your contract (and, therefore, not a good deal). For example, if you've been leasing a Nissan Altima and are thinking about purchasing one for yourself, buying the exact car you are currently leasing may make more sense. However, if you want to end your lease early and instead lease a Nissan Frontier, you'll want to consider the following options instead.
Some dealers offer programs where they'll buy out any remaining payments on your lease and waive penalties for ending your lease early in exchange for signing up for another lease or financing a new car from them. However, there are usually limitations on who is eligible for this option. Only those with less than 12 months left on their leases and those who have had their current leases from that same manufacturer for longer than 24 months. In addition, you may still be required to pay disposition fees and other charges even after signing up for another loan or lease with them-so read the fine print carefully first! If you're interested in this option, you'll want to check out some of AutoFair Nissan of Statham's new Nissan lease deals.
If you aren't ready to say goodbye to your leased Nissan (understandable!), you may have the option to extend your lease term for an additional period. However, it's not guaranteed that your monthly payments will stay the same. Therefore, it's important to explore this option with the leasing office to ensure this is your best course of action.
There is also one final way to get out of a car lease early without paying fees upfront: transferring it! As long as your lessor permits it, you may be able to transfer the lease to someone else, who will then take over the monthly payments for the remainder of your lease. This is a good option if you can no longer afford the monthly payments, would like to lease a car with low payments, need a different vehicle, or want to end your car lease early while avoiding extra fees. Now that you are familiar with all of the different ways to end your car lease early, you can move forward with confidence throughout the life cycle of your lease. If you're interested in financing a new Nissan, want to lease a used car, or trade-in a vehicle, contact AutoFair Nissan of Stratham today!
