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To get out of a car lease, you have these options: Turn the car in and get a new lease on a new vehicle. Extend your lease — only some companies allow for this option.
Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay.
Usually, car leases allow the lessee to drive the car for a certain number of miles for a certain number of years. The lessee pays a fixed monthly payment for the privilege of driving the vehicle, and when the lease ends, the lessee returns the vehicle to the lessor. The lessee pays only for the value of the vehicle for the term of the lease.
Closed-end leases are so called because they run for a fixed term, and the lessor and lessee agree in the lease contract what the residual value of the property being leased will be. In most cases (particularly in retail motor vehicle leases), the lessee has an option to purchase the property for the agreed residual value at the end of the ...
Uber and Lyft drivers should always track mileage for tax purposes. These six free mileage tracker apps make it easy to do so right from your smartphone. This was originally published on The Penny ...
So it's time to return your leased car to the dealership, but you're not ready to say goodbye. Fortunately, there may be another option: buying out your lease. Car leases usually allow lessees to ...