Extend Dropdown Lease For Free

We will continue to automatically process lease extensions in one-month increments, up to six months from your original maturity date. You will receive emailed or mailed confirmation that the extension has processed on a monthly basis. You must continue to make your regular monthly payment during the month(s) extended.

These days, lessees have several options at the end of a car lease, including doing a lease buyout, buying out the car then reselling it, transferring the lease, doing a trade-in, or extending the lease. Before returning your leased vehicle, it's important to first review your options.

If your GM Financial lease is about to expire, you have three options: trade-in and lease again, buy the vehicle, or return the vehicle to the dealership.

The residual value of the car will stay the same, meaning if you want to buy the car later, you'll still have to pay the residual value despite depreciation. Extending the lease may incur fees and penalties. The longer you drive the car, the more likely it will be that it will need repairs.

How to Extend a Car Lease First, the lessee contacts the lender through which the original lease agreement was made and says they want to request an extension. The lender reviews the request and determines whether the lessee is eligible. If the request is approved, the lessee will be sent a new contract.

If you need more time, you can request one six-month lease term extension. 1 To do so, please send us a secure message on our website at chase.com/digital/login-secure-message or call us. Only one six-month lease term extension is permitted for the duration of your lease.

GM Financial has introduced several programs to assist our customers including payment deferrals, payment extensions, late fee waivers and taking special measures with credit bureau reporting.

The residual value of the car will stay the same, meaning if you want to buy the car later, you'll still have to pay the residual value despite depreciation. Extending the lease may incur fees and penalties. The longer you drive the car, the more likely it will be that it will need repairs.

Lease Extension Cons There might be extension fees. Many lenders do not reset the residual value in the contract even though the vehicle is continuing to depreciate. If you end up buying the vehicle, it won't be as good a deal later as you would be getting now, and the extra lease payments are wasting money.

How do I change my due date? You can ask for your account to be reviewed for due date change eligibility by contacting Customer Experience at 1-855-501-5563.