Lease End: What are my Options
Plan Ahead
Lease End: What are my Options?
You’ve been cruising in your Birchwood Automotive leased car, and now the lease is about to end. But hold your horsepower! This isn’t a full stop; it’s a sharp turn into new possibilities! There are several paths available to you, and each one is designed to cater to your individual needs and preferences.
Upgrade Your Lease
Ready to slide into something new? Upgrade your lease to get that ‘new car smell’ all over again.
- Jump into a sleek new model and get your hands on the latest gadgets, gizmos, and model upgrades.
- Keep cruising with all the perks of leasing, in a brand new ride.
Keep Your Lease
Why mess with a good thing? If you’re still loving your vehicle then let’s make it official.
- You can opt to purchase it at a price based on the predetermined end-of-lease value.
- Avoid the search for a new car by keeping the one you already love.
Return Your Lease
All good things must come to an end. You’re ready to hand back the keys and try something different.
- Just drop off the car as per the agreement. Easy-peasy!
- Check out what else we’ve got. New adventures await!
Frequently Asked Questions
What are my end-of-lease options?
Your lease is unique to you, depending on the terms listed in your agreement you may have a few options. However, in most situations you will have the following options: to keep your lease (lease buyout), to return your lease (surrender the lease) or to trade-in/upgrade your lease. In some cases, you may be able to “pull-ahead” your lease or break your lease—but some penalties may apply.
If you’re unsure which route is best for you, reach out to our team—we’d be happy to discuss the best option for you.
What is a lease-pull ahead?
Lease Pull-Ahead program is your golden ticket to level up your wheels without bulking up your monthly payments. Some programs will even cover a set number of your remaining payments on the current lease or toss in a cash bonus that you can apply toward a shiny new car, or SUV.
What happens if I go over my kilometer allowance?
Those extra miles might turn into unexpected costs at lease-end, as per your lease agreement. Typically, the cost ranges from $0.10 to $0.25 for each kilometer you go over—this may seem small, but don’t be fooled! It can easily add up to hundreds, if not thousands, of dollars due at the end of your term.
If you’re getting close to the limit, give us a call—we might have options to help you avoid those extra fees.
Can I transfer my lease to another person?
Yes, transferring your lease to another individual is usually possible; however, there are some guidelines to follow. The new lessee must meet our credit approval criteria, and there may be transfer fees involved. Get in touch with us to explore this route in detail, as Manitoba provincial regulations can also come into play.
Can I extend my lease?
Absolutely, extending your lease is often a viable option. If you’re not ready to part ways with your vehicle or need more time to make a decision, an extension could be your best bet.
Contact us a couple of months before your lease ends, and we’ll walk you through the available extension terms and any other particulars. We aim to make the process as seamless as possible.
Still Have Questions?
Your leasing journey is as unique as you are, and we’re committed to ensuring it aligns with your life’s twists and turns. Let’s talk about your options and drive toward the best path for you!
