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Can I renew a lease at the end of the agreement, give it back or buy the car?
We have a Hyundai Kona, which is shortly coming to the end of a three-year lease. It was brand new and top of the range when we got it and it's done less than 15,000 miles. We like the car, although at times we wish it was a bit bigger and higher off the ground. Should we try to renew the lease for one or two years, give the car back at the end of the three years or buy it and keep it until we trade it in for another car? Your thoughts would be appreciated. Alternatively, if we did give it back, what medium-sized and medium-priced SUV would you suggest? It would need to be relatively comfortable driving down our rough road. We also don't want a Skoda.
Asked on 19 January 2021 by Paul B
Answered by
Andrew Brady
Usually, the leasing company would expect you to return the car at the end of the agreement – although some will offer the chance to extend it. They might be more willing to do this as you've not covered many miles. You won't be given the chance to buy it outright, unless it's a PCP finance agreement (rather than a lease). Consider a Citroen C5 Aircross as its replacement, or a Peugeot 3008.
Tags:
lease cars
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