Extending Your Lease Instead
Lease Extension vs. Buyout: Buying Yourself Time
Not ready to decide at lease end? How a lease extension can buy time, and what to get in writing.
Key takeaways
- Some leasing companies allow short or month-to-month extensions.
- Get the length, mileage and buyout terms in writing.
- An extension is a bridge; know where it ends.
Full transcript
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This is the Lease End Minute. I'm Joe from Champion Auto Finance.
Not ready to decide at lease end? Ask about an extension.
Some leasing companies let you extend for a few months, sometimes month to month, at roughly your current payment. That can buy time if you're waiting on a new car, a move, or your finances.
Get the terms in writing, though. Ask how long you can extend, whether mileage limits carry over, and whether your buyout price changes. An extension can be a smart bridge. Just know where it ends before you start.
Champion Auto Finance is not a lender. Approvals and terms are subject to lender underwriting.
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Champion Auto Finance
Thinking about buying out your lease? Learn more and get started at championautofinance.com.
Champion Auto Finance is a NJ DOBI-licensed financing partner, not a lender, coordinating lease buyout financing for drivers nationwide. Approvals and terms are subject to lender underwriting. Nothing on this site or in these episodes is legal, tax or financial advice.
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The Lease End Minute · Ep. 18 Your Lease End ChecklistThe whole lease-end decision in five steps, in about a minute.
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The Lease End Minute · Ep. 17 What's Left of the Warranty?
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The Lease End Minute · Ep. 15 What Lenders Look At
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