There are a lot of benefits to leasing a vehicle rather than buying one outright, but many people don’t realize just how many options exist for them once the lease ends. While simply returning the vehicle is one such option, there are a couple of other ways a customer could go when their Toyota lease ends.
Options for the End of a Lease
Option #1: Start a New Lease
Perhaps the easiest option is to turn in your leased Toyota vehicle at the end of your term and pick a new vehicle to lease for the next 24-to-36 months. It’s as simple as choosing a new car and starting a new term!
Option #2: Buy the Car You Were Leasing
Another thing you can do is simply buy the vehicle you’ve been driving around the last couple of years. Think of it as a used vehicle purchase, except you know who’s been driving it and taking care of it the last few years. The residual value established by your Toyota dealership in Virginia Beach will be the amount you’ll pay to own the vehicle outright.
Option #3: Buy a New Car
Finally, if you’d rather turn in your lease and buy something new, you can! Think of it as a fresh start, as though you’re coming in to buy a new vehicle for the first time.
Leasing at Hall Toyota Virginia Beach
If you’ve got questions about how leases work here at Hall Toyota Virginia Beach, give us a call or stop by any time so we can talk you through the details. Leasing (and ending a lease) are much easier than many people think, and there are more options than people think, too!
