Lease Return Options
Looking to return your Leased Vehicle?
Learn more about our Lease Return process by reading below.
What happens at the end of a lease?
You’ve enjoyed your leased vehicle, but now that the lease is up, you can do one of two things:
- Buy out your current vehicle if you want to permanently keep using what you have.
- Turn in your current vehicle to end the current lease and get a new vehicle.
Why should I lease again instead of buying?
Leasing lets you drive a new vehicle more often, typically every three or four years. You keep more of your cash because you benefit from a lower down payment. And you never have to worry about selling or trading in an older model when you’re ready to get a new one because you turn the old one into our dealership.
How do I lease a vehicle?
If you sign up for a lease at Albany Chrysler Dodge Jeep RAM, you may owe less in monthly payments. A car that you buy with traditional financing gives you monthly payments that are based on the total value of the vehicle including interest. In contrast, the payments for a lease are determined from the part of the vehicle you intend to use over the lease term, which is typically 36 to 48 months, plus interest.
A lease does not give you ownership of a vehicle, so you may need to follow certain requirements, which are negotiable.
- You may need to keep it maintained based on specific standards
- Each year, you may drive at a certain number of miles. Any miles over that amount are charged.
- When you return the car to our dealership at the end of the lease, you may owe an amount of excessive wear and tear.
Why should I buy instead of lease?
Buying a vehicle gives you full ownership. You can adjust the down payment and monthly payments depending on how long you want to finance the purchase. Then, you can drive your vehicle for as long as you care to own it, without worrying about mileage or excess wear and tear. You may also sell or trade in your vehicle at your convenience.