Leases make up a larger and larger share of the market. According to Experian’s State of the Automotive Finance market in the final quarter of 2018, roughly 29% of all new vehicles were leased; up more than 50% since 2010. And that means more and more people are faced with a decision on what to do when their lease ends. Generally, you have three options: turn-it in, trade-it in or buy it.
Here are four questions to ask yourself if the clock is ticking down on your vehicle lease:
Lease Buy Out
If you like your leased vehicle, USAA can help you buy it. Learn More.
No matter what you decide, the decision should be made in the context of your overall financial situation. Don’t let wheel-time excitement cause you to careen off the road to financial security.
What will you do when your lease is up?
About the Blogger: JJ Montanaro is a Certified Financial Planner® professional and part of the Military Affairs team at USAA. He’s a graduate of the U.S. Military Academy and has over 20 years of financial planning experience.
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The information contained is provided for informational purposes only and is not intended to substitute for obtaining professional financial advice. Please thoroughly research and seek professional advice before acting on any information you may have found in this article. This article in no way attempts to provide financial advice that relates to all personal circumstances.
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