Hall Acura Lease-End Guide

A standard Acura lease runs for three years. At the end of this period, you have three main options to consider: extending the lease, buying out the lease, or ending the lease. Hall Acura Virginia Beach takes a closer look at these options so that our customers, especially those thinking of leasing for the first time, have the complete picture.

End the Lease and Return the Car 

This is the simplest, most straightforward option. When your lease is up, simply bring the vehicle back to our dealership and hand over the keys. This is a popular choice for customers who prefer to drive one of our new Acura models every few years. As long as you haven't exceeded your mileage limit and the car has no excessive wear and tear, you can simply turn the keys in and walk away.  

Transfer the Lease 

Also called a "lease swap" or a "lease takeover", a lease transfer entails transferring your car lease to another person. This is a rare occurrence, and not all leases permit lease transfers, so be sure to visit with your salesperson before moving forward. Some leases will allow a complete transfer to a new driver, while others will only allow a limited transfer. The latter means that your name would remain on the lease while someone else takes over the payments.  

Buy Out the Lease 

If you fall in love with your new Acura MDX, a buyout lets you purchase the vehicle at the end of the lease. The buyout price is confirmed in your lease agreement, and it's based on the predicted value of the car at the end of the lease term. Completing a buyout requires you either paying cash or financing the buyout price. Similar to buying a car, a good credit score will help you get the lowest rate on a buyout loan. But regardless of where your credit stands, you'll still have strong options.  

Get a Great Acura Lease Near Norfolk, VA 

If you're new to the idea of leasing a car, visit our showroom today. Our Virginia Beach, VA Acura dealers will arrange a test drive and give you more details about leasing and our current offers. Meanwhile, if you're a current lessee unsure which lease-end option to choose, stop by for trustworthy advice from our friendly team.