Lease End Options near Cedar Rapids, IA

When you’re in the middle of a lease, it’s important to consider the various contract-end options at your disposal! You can choose to take one of many paths, so our Finance Department has put together this quick overview to help you decide what to do. Contact us at McGrath Toyota of Iowa City if you have any questions!

Let’s get the ball rolling by diving into the option that is most commonly taken by prospective drivers. If you want to see a return on your investment, then purchasing the vehicle for its full sticker price will be right up your alley. The way it works is that we divide up the cost over an extended period of time that generally falls between four and seven years. This way, you can achieve full ownership in no time at all! Then, when you do decide to upgrade to a new driving option, you can use your previous model as a trade-in to help offset the cost. If this sounds like the right plan for you, you can figure out what model will fit your budget by using our online Payment Calculator. Then, if everything looks good, you can move on to our Finance Application so we can get started on your loan options ahead of time.

The next door you can walk through is to purchase your model. If you simply cannot bear to part with your beloved set of wheels, or don’t want to start from square one again, this is the path for you. You might be wondering how you can purchase a leased model, but it’s quite simple. Our team will take the residual value left over after your depreciation payments on your lease and use that as the new sticker price for your ride, which you can then pay off all at once or finance as you would a typical purchase from our dealership.

Finally, you always have the option to simply walk away after signing the paperwork. If you knew from the start that you just needed a short-term automotive companion, or leasing wasn’t the right plan for you, that’s okay. Our representatives will do a final inspection and check for an exceedance of mileage or damages. As long as they don’t find anything, you should be good to go! Remember that if you need to complete your lease before its designated finish date for some reason, early termination fees could apply. Make sure to call us to discuss this further.

Choosing between your lease end options near Cedar Rapids, IA, can be a tough decision, so let our representatives at McGrath Toyota of Iowa City help out! Come see us or give us a call today to discuss things. We look forward to assisting you soon.