When you lease a car, you have to return it to the dealer at some point. The contract lasts for about a year or two. It depends on the agreement at the beginning of the lease. Once the lease is over, you have to decide what to do next. You can return the car and buy a new one from another dealer. You can also return the old car and find a new car to lease from the same dealer. The least likely option is to renew the car lease. It’s still a reasonable choice for several reasons.
You’re already comfortable with the car
You don’t have to determine how to drive the car or adjust to the functions. You have been using it for quite some time now. You already have a rhythm with it. If you don’t want to learn how to use a new car, renewing your lease would be a good choice. You can negotiate the price
Since the car has further depreciated while driving it during the lease period, you can negotiate the terms. You have also paid a significant portion of the car’s value with your previous monthly fees. If you still want to use the same car, you can ask the dealer to allow you to lower your monthly payments. With the new amount, it’s a more practical choice than buying a new car or leasing a new model.
You know the dealer
Some people can’t wait for the lease to be over and return the car to the dealer. Perhaps, their strained relationship could be a reason behind it. If you’re considering car lease renewal, it means that you have had a good relationship with the current dealer over the years, and you won’t mind extending your agreement.
Your needs remain the same
Why would you change your car if your needs are the same? Unless you now have a huge family or you decided to start a business, your current car is enough. The only other reason why you wouldn’t want to extend the lease is when you decide to buy a new car. As long as you’re comfortable with the car and you can use it for all your needs, you could continue using it.
Prepare to negotiate the new lease
If you finally decide to extend the lease of your current car, you have to face the dealer and start the discussion. You don’t need to show that you already made up your mind. It’s easier for you to renegotiate the terms if you allow the dealer to convince you first. At this point, the dealer would rather have you extend the lease than spend a lot of time determining who will rent the car.
You can check out https://www.genusleasing.com for quality cars. The terms are also reasonable enough, and you won’t mind taking one of the available vehicles home. Take your time to understand the details of the terms before you sign any contract.