Lease End Options in North Aurora, IL

There are three main lease-end options you can proceed with once your contract is starting to come to an end. We will be outlining these choices for you so when your agreement is nearing its completion, you’ve had plenty of time to think about how you’d like to proceed. If you have any questions about any of the choices, you can contact our Genesis of North Aurora Finance Department. We’re happy to assist you. 

Renew the Lease

The first option is to renew your agreement. This will allow you to go through the building process once again, making adjustments as you deem fit. You’ll have the option of continuing with the model you had previously or choosing a different one. Depending on the duration and if you’re going to keep the same model or not, your payments may stay relatively the same or may increase. A car with a higher price tag will have a higher deprecation if it lasts longer than the previous agreement you partook in. You may also adjust the amount of miles you drove to accommodate any new changes or simply if you noticed your prior agreement was too large for you. 

Walk Away

You can also choose to enf the lease completely and walk away if you decided that leasing wasn’t akin to your lifestyle. You will need to perform a lease-end inspection where a third-party group will ensure your car was properly maintained and the regulations were followed. We recommend you participate in this inspection before you visit us when your agreement ends as this will give you time to perform any services or repairs that may cost you money upon the return of your lease. Settle any issues before you get the chance to walk away with peace of mind to the next chapter of your life. You can reach out to us if you have any questions about the inspection. 

Buy the Car

If you grew incredibly fond of the car you drove in the past, you will have the option of turning the lease into a purchase. You can own the model permanently when you do this and the payments you made with your lease will count towards the total price of the car. Upon the completion of the lease and once you’ve decided that the model is the one for you, a new estimated depreciation will be determined, taking into consideration the amount of miles on the odometer as well as how old the car is. If you want to own the car you’re leasing, you can visit us and speak to our staff members about this choice and how to prepare.