Russ Darrow Offers a Number of Lease Ending Options

There are a number of options available to you if your Mazda lease is about to expire. Knowing important details like residual value and lease buyout price can help you make the best financial decision, regardless of whether you want to trade in, buy, or return your car.

Comprehending Residual Value

The estimated value of your leased Mazda at the conclusion of the lease period is known as residual value. This amount is established at the start of your lease and is influenced by a number of variables, including market demand, depreciation, and the anticipated state of the car. You can determine whether it makes more sense to return the car or buy out your lease by knowing the residual value.

Considerations for When Your Lease Ends

The following are important factors to think about as your lease term draws to a close:

Mileage Limits: You may be charged additional fees if you have gone over your allotted mileage. By buying your car you may be able to prevent overage fees.

Vehicle Condition: Additional costs may apply if the vehicle exhibits excessive wear and tear beyond typical use. If necessary, taking care of the repairs before returning the car could help you save money.

Comparing Market Value to Residual Value: Buying out your lease might be a wise move if the market value of your Mazda is greater than the residual value.

Financing Offers: To get a good deal on your leased Mazda, look into the financing options offered by Russ Darrow Mazda Milwaukee.

Lease Buyout Price: You can opt for the lease buyout option if you adore your Mazda and wish to keep it. Usually, the residual value plus any applicable taxes and fees makes up the lease buyout price. If your Mazda is worth more than the residual value, you have equity in the car, so this option makes sense. Since you’ve taken good care of the car, you don’t want to look for a new one. You want to stay clear of lease-end costs like wear and tear or excessive mileage.

Trading in, extending, or returning your lease  

If you want flexibility at the end of your lease, you have a few more options:  

Trading in for a New Lease: If you want a new Mazda, you can trade in your leased car to start over with the newest model and possibly receive loyalty rewards. 

Lease Extension: You might be able to extend your lease for a brief time if you’re not ready to commit to a new car, which would give you more time to make up your mind.  

Returning Your Lease: If you decide you no longer need the car, you can give it back to Russ Darrow Mazda Milwaukee and look into other options for getting around.  

Your Next Steps at Russ Darrow Mazda Milwaukee

Our staff is available to help you with your lease-end options at Russ Darrow Mazda Milwaukee. We’ll help you navigate the process and identify the best option for your needs, whether you choose to buy, trade in, or return your Mazda. To arrange a lease-end consultation and confidently discuss your options, get in touch with us right now.