End of Lease Options for Chicago Area Drivers at Zeigler Chrysler Dodge Jeep of Schaumburg
When your lease is coming to an end, it can be a very uncertain time for drivers of all kinds. Here in the Chicago area, drivers have the unique advantage of the committed team at Zeigler Chrysler Dodge Jeep to support them. If you're unsure of what the next step to take is, read on to see what kind of options are available to you.
Option 1: Return the Vehicle
If you're ready to move on from your current lease, but aren't sure exactly what vehicle you'd like to get into next. You'll appreciate being able to return the leased vehicle with ease. But here are some reminders for returning the vehicle:
- Remove all personal items from them vehicle and ensure the owner's manual is returned to the glove compartment.
- Provide maintenance records from your time with the vehicle.
- Expect a lease-end bill that will cover any lease-end charges like excessive mileage or excess wear and use.
Option 2: Purchase the Leased Vehicle
If you've fallen in love with your vehicle over the course of your lease, you may feel motivated to buy it outright, instead of taking a chance on another, potentially less-satisfying vehicle. Buying the vehicle is an option, so take a look below to see what to expect should you choose this option:
- The purchase price of the vehicle, which will be lower than the original price, thanks to the lease you'll only be paying for the vehicle's remaining value.
- Sales/use tax if applicable, along with a purchase option fee.
- Any unpaid amounts will also be required to be paid, which includes things like past due payments and personal property taxes and more.
- In addition, you'll likely be responsible for title and registration fees, though that will require contacting your DMV for the necessary information. But on the bright side, you're now the proud owner of the vehicle you've come to love.
Option 3: Lease or Purchase Another Vehicle
When your lease is up, you can easily transition into another leased vehicle, which is one of the main attractions to leasing a vehicle. With this ability to upgrade your vehicle every few years, leasing seems like an outstanding option for drivers of all kinds. And it is! Once your current lease is up, come and see us so you can test drive a new Chrysler, Dodge, Jeep, or RAM model, and our auto finance team will set you up with a new lease term, so you can enjoy many more years of automotive bliss.
If you have any questions regarding any aspect of the process, don't hesitate to contact us, and we'll help answer any questions and ease any concerns you have. In no time you'll be back to enjoying every moment on the roads of Schaumburg, Hoffman Estates, Arlington Heights, Elgin, and beyond.