Your lease end is coming up. Most people either ignore it until the dealer calls, or stress about it without knowing their options. Neither approach serves you well.
Here’s the complete guide to navigating lease end — from 90 days out to the day you turn in the keys.
Before anything else, understand that you always have exactly three choices:
Which option is best depends on the vehicle’s current market value, your driving needs, and the deals available on your next vehicle. Here’s how to evaluate each.
The first thing to do is find out what your vehicle is actually worth right now. Get quotes from:
Compare that number to your lease buyout price. Your buyout price is on your original lease agreement under “purchase option” or “residual value.”
If market value > residual: You have equity in the lease. You can capture this — either by purchasing the vehicle yourself and reselling it, or by turning it in to a dealer who buys it from you above residual.
If market value < residual: The car is worth less than the buyout price. In this case, returning the vehicle is almost always the right move — let the leasing company absorb the depreciation.
Don’t wait until your last month to start looking for your next car. The best lease deals fluctuate monthly and you want time to find the right one. Manufacturer incentives, lease support programs, and loyalty bonuses are all time-sensitive.
Contact Riches Rides 90 days before your lease ends and we’ll start monitoring the best available deals on your next vehicle so we’re ready to move when the timing is right.
Request a pre-inspection through your leasing company. Most manufacturers offer this for free 60–90 days before lease end. An inspector will evaluate the vehicle and note any damage that will be charged at turn-in.
Why do this early? Because anything flagged in the pre-inspection can often be repaired independently — usually at lower cost than the dealer’s turn-in damage assessment. A small ding from a body shop will almost always cost less than the leasing company’s per-panel charge.
Leasing companies charge for:
Knowing what’s coming lets you make smart decisions about repairs versus accepting the charge.
By now you should have:
With that information, the right decision usually becomes obvious.
Return if: Market value is below residual, you’re ready for something new, and you’ve identified your next vehicle.
Buy if: Market value significantly exceeds the residual, you love the vehicle, or you want to sell it yourself and capture the equity.
Extend if: You haven’t found your next vehicle yet and need more time. Most manufacturers allow month-to-month extensions for 1–6 months.
When you return the vehicle:
Within 30 days you’ll receive a final bill (or confirmation of no charges) from the leasing company.
In most states, if your lease has equity (market value > residual), you can sell the vehicle to a third-party dealer — like Carvana, CarMax, or a used car lot — and they will pay off your lease and give you the difference. This is a completely legitimate way to capture equity you’ve built in the vehicle.
Note: Some manufacturers (notably GM and Stellantis brands, and some Toyota products) have recently restricted third-party buyouts. Check your lease agreement or call your leasing company to confirm.
If you’re 90 days from lease end and want someone to handle everything — finding the best deal on your next vehicle, timing the delivery, and managing the transition — that’s exactly what Riches Rides does.
Call (424) 242-9442 or contact us here. We work with lessees at every stage of the cycle and we’ll make sure you’re not leaving any money on the table.
Riches Rides is a licensed auto broker in Los Angeles and Southern California. We specialize in car leasing, lease returns, and vehicle acquisition for individuals and businesses.
We pride ourselves on our customer service and the quality of our work. Our staff, from the person who greets you on the phone, to the professional that delivers your next new “Ride”, are perfectionists that treat every car as if it were their own. The professionalism of our organization and staff will give you unprecedented service, treatment, and peace of mind when you need to purchase or lease a vehicle.
