Is Your Lease Ending Soon? Know Your Options!

Contact your Lessor 3 months before the end of your lease to discuss payoff amounts and if they have any early lease termination programs. Start early because some of these programs may even cover your last few payments so you can get into a new vehicle sooner!

Contact us at Courtesy Altoona to explore the options that you have towards the end of your lease. Typically the 3 routes you can take are to purchase your currently leased vehicle, trade in on a different vehicle, or to simply return the vehicle. While you're here, our expert Sales Team will assist you in finding the perfect replacement vehicle! It may be beneficial to you to lease another vehicle of the same make and model. Manufacturers often offer incentives for customer loyalty. On the other hand, there are often additional rebates for Lessees even if you are in a lease of a competing make vehicle. Take advantage of all the incentives you are entitled to!

Purchasing your leased vehicle:

Contact your Lessor and obtain the purchase option price for your vehicle. You have the option to finance or purchase your leased vehicle outright for the purchase option price plus sales tax and fees. Courtesy Altoona can handle the buyout process for you! Simply contact one of our Business Managers to arrange financing and paperwork.

Trading your leased vehicle:

Contact your Lessor and obtain a payoff for your vehicle as a trade-in. Bring your vehicle to Courtesy and have one of our experienced Sales Managers appraise it. If trade in offer is higher than what you owe, this is usually the best option at the end of your lease.

Also, if you have driven more miles than what was allowed on your lease, you will incur no mileage penalty fees if you trade the vehicle!

Lease Return:

Bring your leased vehicle to Courtesy Altoona at the end of your lease. Make sure to bring all keys and any accessories that came with your vehicle.

Normal wear and tear on the vehicle is expected but if there is damage larger than a credit card*, you'll need to get it repaired to avoid being charged. Stop in at Courtesy Collision for a free estimate! If there is any damage to the glass or tears and stains in the interior, we can assist you in fixing these issues as well!

You will sign a form disclosing the mileage on your vehicle when you leave it with us. If the mileage exceeds the allotted amount as per your lease agreement, a mileage penalty will be incurred. You will want to keep the vehicle insured until you get confirmation that the bank has picked up the vehicle from Courtesy.

Whether you choose to purchase, terminate, or trade your currently leased vehicle, simply contact us at Courtesy in Altoona, PA for assistance! These Lease Guidelines should help to make the end of your lease a smooth transition.

*Details may vary by Lessor.