Is Your Lease Coming to An End? You've Got a Few Options!

When you lease a vehicle, eventually that lease must come to an end, and it's only natural to feel a sense of anxiety about what to do next, or how to return your vehicle. Here at Auffenberg Ford Belleville, we're making the End of Lease Options clear, simple, and easy to understand for our valued customers from Belleville, St Louis, Fairview Heights, Mascoutah, O'Fallon, and St. Clair County. This resource is handy if you're approaching the end of your lease term and want all your options in one place. You've spent the past few years in your leased Ford truck, SUV or car, but now it's time to turn the page. If you're wondering what comes next, continue below to see what options are available to you, and if you find yourself with more questions than answers, we're always happy to help, just give us a call at (888) 479-2390.

You've Got Options at the End of Your Lease: Which One is Best for You?

Option 1: Return Your Leased Vehicle

  • By far the most popular (and often, most convenient) option is to simply return the vehicle to us at the end of your lease contract. Bring all the associated equipment (like the second set of keys, spare tire and driver's manual) and we'll perform an end of lease inspection. From here, you have the option to move on to a new Ford lease or to purchase another vehicle on our lot, or neither! This option is great for those who want to keep fresh in a new model with all the latest tech every few years.

Option 2: Extend Your Lease

  • Sometimes, it makes the most sense to extend your current lease. For folks who really love their vehicle, or who need a little more time to make further arrangements, a lease extension is a great short-term option. Most often, folks who choose this do so when they're not quite sure if they want to buy their leased Ford, turn it back into the dealership, or if they haven't found a replacement vehicle yet. This option buys you some time without forcing you to make a snap decision.

Option 3: Trade In Your Lease and Put Some Value Toward a New Vehicle Purchase

  • When you lease, you don't have ownership of the car, so as a result, you don't typically build any equity in the vehicle, meaning most customers won't find this option very helpful. But of course, there are exceptions! The exceptions are those who choose to buy the vehicle at the end of their lease for the residual value and then use it as a trade in, or for those customers who made a large down payment at the beginning and have positive equity. If you have any equity in your vehicle or if you buy your leased vehicle, you can choose to trade it in in the future as you move onto a new Ford lease or purchase.

Option 4: Purchase Your Vehicle

  • This is a great choice for folks who have fallen in love with their leased vehicle over the course of the past few years. When you lease, your monthly payments are based on the amount of depreciation the vehicle undergoes while in your possession, not the actual purchase price of the car, as with an auto loan. At the end of your lease, you have the option to buy your vehicle by paying for the vehicle's residual value-its market value after depreciation-meaning you and your beloved Ford don't have to part at the end of your lease term.