How to Catch up With Your Lease Payments

Having a hard time catching up with your lease payments? Looking for leasing discounts but can't find any that suit your budget? Before you transfer your lease or decide to buy off the car and sell it to someone else, you might want to consider refinancing your lease. Basically, this means that you can extend your current lease deal to an increased number of years. For example, if you have a three year lease term with your dealer, extend it to five years. This will ultimately lower your monthly payments but the downside is that you will end up paying off the lease over a longer period of time.

Does it cost more? Some lease companies might actually make a profit from your refinancing decision. Ultimately, however, with depreciation of the product, you might be paying the same amount as you would with your current number of lease years. This is the closest that you can get to leasing discounts with a dealer that doesn't offer anything more.