Is your lease coming to an end soon? Do you know what to do?

By Product Expert | Posted in Dealership news, Tips and tricks on Thursday, November 14th, 2019 at 9:39 pm
A stock photo of a sales person showing information to a client.

What happens when my Kia lease is over?

Leasing is a great way to get behind the wheel of Kia vehicle while also having a lower monthly payment versus buying combined with some additional peace of mind. If you’re new to this method of financing, you might also be wondering, ‘What happens when my Kia lease is over?’ Customers who are nearing the maturity date of their leasing terms have a few options they can choose from. For the most part, lease customers can start a new term, buy their leased vehicle or just walk away. The Team Gunther Kia financing department wants to make sure our customers know as much about their lease-end choices before they leave their house. Let’s take a look at what they came up with.

READ MORE: Advantages of leasing or buying a vehicle

Starting a new lease

Hopefully, you’ve enjoyed your experience leasing a vehicle from Team Gunther Kia and that you’ll want to do it again. At about four months before a Kia lease ends, the leasing company will mail a lease-end kit. This will let the leaseholder know exactly what steps they need to take to properly wrap up your original lease term. The most important part of this kit will be the self-assessment where people can use a proven process to take a hard look at their vehicle and address any issues that might cost extra money in wear and tear.

Buy your vehicle

There is not a small chance that you will want to hold on to your vehicle. Leasing a vehicle means that a person is basically paying for the amount of depreciation that will occur. All lease contracts will feature a price a leaseholder will have to pay if they want to keep the vehicle forever. A Team Gunther Kia financial expert will be able to help you through this process.

Try something different

The last option a Team Gunther Kia customer has when the term matures is to walk away. To be sure, we don’t want you to do this, but you can. Simply complete the steps in the lease-end kit, gather up all the keys and other standard accessories then drop the vehicle off at our facility. It’s worth noting that customers who choose to start another leasing term or buy a Kia vehicle could be eligible for several hundred dollars in financing incentives.

Make an appointment with a Team Gunther Kia product expert today if there are questions you still need to have answered.

Leave a Reply