How do I extend my car lease?Apr 17th, 2020
If you’d like to stay in your lease contract for a bit longer you have a few options.
Extending your lease contract is a great option if: you feel you’ll be in a much different financial position in a few months; you’re waiting for your ordered vehicle to land and it hasn’t arrived yet; or you just need the vehicle a little longer. Another scenario would be if you’re moving a great distance in a few months and don’t want to pay to transport your vehicle but need your vehicle in the meantime.
The first step is to talk to a Financial Services Team member at your dealership for help. She’ll be able to look at your current contract and see all of your available options and help you with the process.
You will, however, eventually need to contact the leasing company directly to make the request. They will send you the paperwork to sign. In most scenarios, you will continue to pay the same payment, but there may be a fee.
Right now, we are all facing unsettling economic times, and all car manufacturers are offering many options to help in light of the COVID-19 pandemic. If you are experiencing financial hardship because of COVID-19, reach out to your dealership or leasing company.
They can help with: a) extending, delaying, or cancelling your current lease contract, b) determining the available equity in your vehicle, and c) reviewing your available options with your vehicle such as trading down to a lower payment, and much more.
Whatever the reason, it may be possible for you to extend your current lease contract. Your best starting point is talking to a professional to review all your options. If you have a KIA, please check out our Financial Assistance page to learn more.
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