Lease End Options

Re-leasing your vehicle

You may opt to re-lease your vehicle.  This typically means extending your lease contract by 12-24 months, and paying an adjusted monthly payment.  The leasing company can adjust your payment based on the residual value of the vehicle relative to the lease term extension. 
 
Typically, your new payment may be slightly lower, since the residual value decreases with every passing year.  You should consider, however, that you will probably start to encounter problems with your vehicle as you surpass 60,000 miles, and most warranties expire by that point.  A savings in monthly payment may not save you any money in the long run if you have excessive maintenance and/or repair costs.