Most drivers weigh their options carefully when they're deciding whether to buy or lease. But what happens if your Volvo lease ends up becoming a vehicle that you want to buy? At Fields Volvo Cars Northfield, we can help you navigate this situation and help you buy a new Volvo car you love.
Lease-End Options
First, you need to know about your lease-end options. When your Volvo lease is up, you have a few paths laid out ahead of you. Some drivers turn their cars in and decide to lease or buy new vehicles. Others might decide that they really like their current car and don't want to get a new one.
This is when you can exercise the option to buy your leased vehicle. You'll soon be free of lease restrictions like mileage limitations, but you also have to remember some of the perks of lease agreements, like GAP coverage.
Buying Your Leased Vehicle
If you decide to buy the Volvo car you've been leasing, our Volvo dealers will figure out the buyout price and you'll be able to purchase your vehicle. Then, you'll be ready to drive off in your Volvo car!
There are some advantages to buying a vehicle you've been leasing that you should be aware of. You're already familiar with the car and know that you like it, but that's not the only upside. You can also avoid some added costs like excessive mileage fees, charges for excess wear and tear, and the disposition fee, which prepares the car for resale. This is because it's your car now, and the dealer or lessor doesn't have to worry about such things.
If you want to learn more about leasing to own and our lineup of safe vehicles, visit our new car dealership near Chicago. We look forward to assisting you!