If your car lease is about to expire in Sarasota, you’ll want to take a moment to learn about your end-of-lease options. Take a moment to learn about all the paths you can take, as well as what considerations to make if your car lease is expiring in 2022 during the automotive production shortage. Once you’re done reading, contact Cox Mazda to begin ironing out the terms of your lease-end strategy at our Bradenton showroom.
Wondering what to do if your car lease is expiring soon? Take a moment to review your options:
Now that you know about your end-of-lease options, take a moment to learn about some unique considerations to make in 2022 during the global shortage in automotive production. Due to a semiconductor chip shortage in Taiwan, auto manufacturing has slowed to a halt, which means it’s hard to find a car, there’s high demand, and what inventory is available is priced up.
For these reasons, we recommend that our Palmetto neighbors consider renewing or buying out their lease. If your lease-end is coming up, you’ll find that new vehicles are simply more expensive than they were, whether you lease or finance. If the value of your current lease was assessed before the automotive shortage, then your lease or lease buyout payments will chip away at the remaining value of that original assessment. These two options allow you to entirely bypass inflation in the market!
Now that you’ve reviewed our helpful overview of your end-of-lease options, as well as considerations to make if your car lease is expiring in 2022 if you have other questions, call Cox Mazda at (941) 749-2790. We can help you navigate your options at our Bradenton showroom. If you’d like to buy out your lease, be sure to apply for pre-approval!
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