In today’s world, people have three options for obtaining the private use of a vehicle for an extended period: leasing, buying with cash, or financing the purchase with the help of a bank or other financial institution.

Buying, whether it’s with cash or the help of a trusted financier, can be a good long-term move, but can cost a lot more in short-term monthly payments. Leasing, on the other hand, is like renting a home. You make payments, but don't own the car. More importantly, you can move on to another car when you're ready.

When lease term closure comes around, you have three central options: return the vehicle and walk away, swap the leased vehicle for another new car, or purchase it with any built-in equity accumulated over the previous years of leasing.

These choices can feel daunting, and it can be important to approach the decision with all the information you can get your hands on. To learn more about the end lease process, get in touch with Acura of Johnston in Johnston, IA. Our experts can help.

Categories: Finance
Tags: lease, finance