Most major car brands allow lessees to extend their lease agreements and continue making the same monthly payments for a period of time. Some allow month-to-month extensions, while other brands only allow extensions in predetermined increments, such as three or six months.
Often, lease extensions for a particular car brand will vary based on each local dealership’s policies. Even if a car brand doesn’t typically allow lease extensions, we found that most dealers are willing to work with customers if there are extenuating circumstances, such as if the car is being repaired at the time the lease expires.
Lease Extension Process
In the course of our research, we found that lease extension policies are similar across most car brands. In general, dealers recommend that you make arrangements — deciding whether to extend the lease, purchase the car, or return it — about 30 days before your lease expires.
If your lease comes with a mileage limit, the extension will typically come with a prorated mileage allowance. Additionally, keep in mind that you will likely need to pay for another year of registration for your vehicle, even if you are only extending the lease for a month or two.
When you eventually decide to end your lease, if you choose to return the vehicle, you’ll want to follow the manufacturer’s end-of-lease procedures, which often involve scheduling an inspection and making any necessary repairs prior to returning. If you decide to purchase the car, you can make the necessary arrangements with your dealership.
Lease Extension Policies by Company
See the table below for lease extension policies listed by the manufacturer. We confirmed this information by contacting each company’s financial services department and viewing their leasing policies online, where available.