leasing agreement

[k109]

hi can i ask if anyone knows what happens at the end of a leasing agreement? do you -

buy the car from them?

get a part exchange?

get nothing? - they just take the car away from you, end of story.


can anyone clear this up for me? would be very helpful, thank you.

[m0rk]

You normally have the option to buy the car

You don't get a part ex

But normally you get to walk away

[k109]

cheers mate, so the main advantage is that you can walk away no strings..

but if you did want to buy after the contract, how much do you suppose it would cost? are we talking a lot? considering you have just hired it for 5 years say..

thanks

[m0rk]

it all depends on the vehicle & state it's in & mileage, but it should sell for the market value

[k109]

i see, can you get a leasing agreement on a used, but fairly new car?

or does it have to be brand new..