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What are my options when my lease is up?
I have a lease with Chase Auto Finance through a Subaru dealership. My lease is set to end a year from now, what would my choices be when that lease ends? Can I sell it back? Buy it? If I can buy it do I still have to make payments to Chase Auto Finance? Who would I make payments too then, because I couldnt purchase the car in full. I would want to purchase the car and then sell or transfer the title to my father, but I cant do it under the conditions of the current lease I am in.
Public Comments
- about 3 months before lease end/make up your mind/lease extension for 1 more year/buy out/return car/if buy out and you have been good payer you can contact the finance co and redo it/have to go back to dealer and re-write as used car but thats easy/give back is what it says/lease extension is what it says
- Read the contract you signed. The end of lease options are clearly stated in the paperwork. Generally speaking when a lease is up you have two options, Turn the car in and walk away or purchase the car for the residual value. If you turn the car in you pay all of the lease termination fees and you walk away. If you decide to purchase the car you can go to any lender you choose for a new loan and then pay the balance off to Chase if you decide not to use them.
- Financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool - carquotes.sinfree.net
