Chilton Free Automotive Repair Manuals | Car, Auto, Used Cars:   Up-Front, Ongoing and End-of-Lease Costs

Your options may {$} include the following:

Returning the vehicle and  paying any amounts owed or receiving any surplus Car, Auto More info Arranging for the repair of any damage and Chilton Free Automotive Repair Manuals returning the vehicle More info Extending the lease, if {$} allowed by the lessor.

Leasing the vehicle for a  new term (re-leasing), if allowed by the lessor More info Purchasing the Car, Auto vehicle (if you have a purchase option or are otherwise Chilton Free Automotive Repair Manuals allowed by the lessor).

Arranging for a third party to purchase the {$} vehicle, if allowed by the lessor.  End-of-term charges or  refund of any surplus If you return the Car, Auto vehicle to the lessor at scheduled termination, the Chilton Free Automotive Repair Manuals lessor will tell you where to return the vehicle. In {$} an open-end lease, subject to the three-payment rule,  you are responsible for any difference if the Car, Auto actual value of the vehicle at scheduled termination is Chilton Free Automotive Repair Manuals less than the residual value stated in your {$} lease (deficiency).

In most open-end leases,  you are also entitled to any refund if the actual value is greater than the {$} residual value stated in your lease. Thus, the lessor may not  arrange for inspection of the vehicle unless a substantial residual deficiency is expected.