pros and cons of extending a car lease

The result? For both lease-end and early lease buyouts, determining the market value of the vehicle is a vital part of making the final decision. That means you will buy out your current lease and be the official owner. Extending a car lease is often a great way to save money. Werent having a new vehicle and a new-car warranty reasons you leased in the first place? This way, you can see what the options are and make an informed decision. You'll want to check the details of your lease, however. Depending on what's covered, you may only need to get the vehicle. Inverter generators electronically throttle the engine up and down to meet demand, instead of running full tilt all the time as traditional generators do. Current mileage is way under the allowed mileage at the end of 36 months and I do not plan on changing driving habits. Limited mileage: Car leases often come with a mileage limit, and if the lessee exceeds this limit, they will be charged additional fees. The current shortage means that a lot of dealers are happy to buy cars that come back from a lease, even before the lease ends. Investments/Insurance: Not a Deposit Not FDIC Insured Not Bank Issued, Guaranteed or Underwritten May Lose Value. In addition, youll need to pay the fees specified in your lease for going over the mileage limits. If you give appropriate thought to this decision, do the math, and take emotional factors into account, youll make a choice that is financially and practically best for your unique situation. A primary reason people get a car lease is to have flexibility to move on to another vehicle after a few years. But you can do just as much harm as good if you miss a payment, or even make one late payment. Extending a car lease can be a great way to save money and enjoy a longer drive. Depending on the credit scoring model used, generally any hard credit inquiries that took place within a 14- to 45-day period will only count as one inquiry. Lease Extension Pros There are reasons a lease extension could work for you in your situation: There might be no extra fees or costs. Change), You are commenting using your Twitter account. Check your contract for your options. My previous leases were BMW and in the past, they would prop up the residual value so that you would get great terms on the lease. You can find your vehicle's true value by taking it to a dealer and asking for an offer. If you're one of the millions of Americans who leases and you're approaching the end of your car lease, you have some choices to make. Familiarity with the car and how it works are psychological benefits. There are both pros and cons to consider before making a decision. Of course, the offers on our platform don't represent all financial products out there, but our goal is to show you as many great options as we can. How Much Do Electric Car Charging Stations Cost? If you have, this may reduce the market value of your car without changing the residual value. Used cars in Mesa, as well as other Arizona used car trade-ins, are no exception to this trend. Here are the two classic rules. What about trading it in? According to Cox Automotive data, wholesale used car prices increased an average of 5.9 percent in March alone. If you decide to buy your leased car, you'll likely need to finance the lease buyout. With this option, you will pay the residual value at the end of your lease. This car lease payoff is negotiable before you sign the contract; you agree on it before the lease begins. Like any major financial decision, its important to think carefully about buying your leased vehicle. This type of lease extension may also come with a revised monthly lease payment and revised mileage limits. Restrictions on modifications: Some leases may have restrictions on modifications such as adding aftermarket parts, and if lessee wants to make such changes, they will have to pay penalties. (null!=i&&i!=o.tag||null!=t&&t!=o.priority)}),gform.hooks[o][n]=r)}}); Would you like to review your financial options with one of our advisors? California loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-78868. (LogOut/ The European Coal and Steel Community: Unity Through Strength! I haven't had any issues with my car and the staff has been amazing. If youre looking to keep long term I would consider getting extended warranty as well. Vehicle leases are generally designed to last 2-4 years, with the vehicle being returned to the dealership or leasing company at the end of the term. Read on to learn more. Each company has sole financial responsibility for its own products. We can access all banks and credit unions as well as dealership manufacturer lenders. However, theres sometimes a significant difference in these two numbers. Uncovering why natural gas is dangerous and how to stay safe! Just needed someone to give me a second chance and you guys were sooooooo helpful. In this video I share the pros/cons, my experience, and how much I will be paying in total for a 2015. With that said, older cars can cost a lot of money. We are continually improving the user experience for everyone, and applying the relevant accessibility guidelines. Your monthly lease payment includes this depreciation and a fee that goes to the leasing company and covers administrative costs. Join our mailing list for all automotive news and information you need! Give some thought to the emotional aspects of the decision. Also, the cars depreciation likely slowed down signficantly so you are paying too much for the car since the lease was calculated based on original lease length. A phone call to the lender might be all thats needed to initiate it. iPhone is a trademark of Apple Inc., registered in the U.S. and other countries. When buying any used car, reliability is a very important factor. It can help you avoid a gap in coverage if youre not able to find a new car right away, You can add other service packages like maintenance packages, You can buy out the car after the lease term ends, Allows you to bargain for a more affordable rate, the terms and conditions of the extension, Can give you more time to save up money for a down payment on a new car, Can help you avoid a gap in coverage if youre not able to find a new car right away, You might have to pay a higher monthly payment, The lender will want to recoup the remaining value of the car, Youll need to sign a new lease agreement. Con: Paying additional interest. It's important to note that extending a car lease may result in additional fees and higher monthly payments. You can customize your coverage. Copyright 2023 Endgame360 Inc. All Rights Reserved. If the price for the buyout is less than the true market value, it is a financially profitable choice. Before buying my car I was leasing!! agjios 4 yr. ago. First, tell them that you are going to turn in the car after the lease. Pros It could allow you to hold off for a bit on buying a new car, giving prices a chance to cool down. However based on changing market conditions, supply, demand and vehicle availability, payments may go up or down once we locate the exact vehicle you require. Case by case probably. In many cases, your sales taxes are higher with a purchase than a lease. So if you have champagne taste but a sparkling wine budget, leasing gives you the flexibility to drive a luxury or premium car. Get an estimate for what your vehicle is worth its "true value" so you can compare that to your lease contract. With an auto loan, the payments go toward interest and chip away at the principal. That said, I have enjoyed leasing and would continue to do so if the terms are right. The USAA Advice Center provides general advice, tools and resources to guide your journey. If youre thinking about extending your lease, then be sure to talk to your lender about the process and the terms of the agreement. In years past, it usually didn't make financial sense to buy out your lease. Most automaker finance units and third-party financial institutions will grant a one-time extension of a car lease past its end date by a fixed number of months (generally 12 or fewer) or on a month-to-month basis to a maximum allowance, though whether its a good idea depends on your situation. Why would you walk away from your lease? Please subscribe to our service to get a custom quote. End of description. Additionally, if you need to terminate your lease early, its not uncommon for drivers to transfer the lease. It's all about what works for you and your budget. Natural gas: clean, affordable, reliable energy for all! For this point in particular, wouldnt you want to just buy it out if its the end of the line here. Insurance related services offered through Credit Karma Insurance Services, LLC, which does business in some states as Karma Insurance Services, LLC. Edmunds: 5 Car Lease Strategies You Didn't Know About. USAA Alliance Services receives compensation from these companies based on the sale of these products or services. The typical manufacturers warranty covers three years or 36,000 miles. Contact Red Mountain Funding for advice and assistance in buying out your lease. Boiled down to basics, here are some of the reasons why a BMW is worth considering. You Don't Own the Car. There are two variables to consider in determining whether a lease-end buyout is a good deal. You must call the lender to request an extension and find out its individual procedures and terms; some leases include a provision for an extension. Many car leases allow "buyouts" (purchasing the car outright) during the lease. Thus, despite your good faith in the car, re-leasing your vehicle will not lower your costs compared to leasing another similar used vehicle. Many banks and financing companies inflate the residual price for a leased vehicle, so they are able to offer lower monthly payments for people who leased their cars. Discover why natural gas is the better choice for your energy needs! Compare this figure to leasing a new car or buying a different used vehicle. Many leasing companies do give you the option to extend your lease, particularly on a month-to-month basis, points out Edmunds.com. Changes may apply based on buyers financial situation. It can give you more time to save up money for a down payment on a new car. To take this informal route, you must contact your leasing company and let them know that you want to continue using the vehicle after the lease is up. 2. Have you had any trouble with the car? When you lease, you're agreeing to things like a mileage cap. The second option for a lease buyout is to do a car lease payoff before the lease ends. Up Close With the 2024 Buick Encore GX: Got the Looks, Needs More Guts? If you're happy with your . Each situation is unique, and its important to go through the process of making this important decision for yourself. You were allowed 36,000 miles as part of your three-year lease, but you only drove 10,000 miles. Make sure to read the terms and conditions of the lease extension before signing on the dotted line. If the lessee chooses to extend the lease, they may find it difficult to stay within the mileage limit over the longer period. Whether its adding a new set of wheels or getting a fresh paint job, there are plenty of ways to make the car your own. Does that principal payment act like its going into paying down the RV at that point? In some cases, people want to shop around for a while to find the right vehicle. If your preference is to extend the lease, discuss that with your agent or contact at the leasing company. Depending on your lease, you may have a few options: Walk away, trade in or buy out your lease. If youre considering extending your car lease, you may want to weigh your pros and cons. While buying offers full ownership, there are many advantages to car leasing - fixed monthly costs and the choice of upgrading to a brand-new model every few years are just a few of these. The Equifax logo is a registered trademark owned by Equifax in the United States and other countries. Even if the residual value is lower than the market value, buying this car is probably a bad choice. Other advantages to leasing include: You typically have lower repair costs . Are you thinking about extending your lease? The predicted residual value was established at the beginning of the lease and is set in stone. Extending a car lease offers a great opportunity to drive something new and exciting, as well as to save money. The monthly payment is lower and so is the down payment. For some people, leasing is a better option than buying, but it still has its pros and cons. The obvious downside to leasing a car is that you don't own the car at the end of the lease. If you end up buying the vehicle, it wont be as good a deal later as you would be getting now, and the extra lease payments are wasting money. Whether a lease extension makes sense depends on your situation. Pros: You will get more time with your car that you have spent the last three years getting used to and driving around. You could trade-in for the latest model after paying the residual payment, purchase and keep it, refinance, extend the lease or sell it to pay the residual. And be sure to factor in the total cost of a vehicle. Compare the pros and cons to make a better decision. When deciding whether leasing or buying a car, consider your driving habits and preferences. That's because, with a lease, you aren't paying for the entire car, just the part that you're using. There are several to consider when you're making a decision. This will boost the reputation of your organization and your product among buyers and throughout your industry. Some cars are especially in demand due to factors the car company didnt predict. This is the constant throughout the entire lineup, whether you opt for the accessibility of the 3 Series to the elite luxury of the 7 series. Answer (1 of 15): I've only leased 2 cars so I'm definitely not the expert. The company must grant permission for an informal extension. The current retail price will indicate whether you should buy your lease out or purchase a different car. PROS Lower taxable income Depending on the car's value, one of the primary benefits of a novated lease is going to be the fact you'll pay less income tax. Extending your lease makes you responsible for paying the repairs of the vehicle. Buying before your lease ends could help you avoid fees. What are you going to do next? Leasing costs more over time: All thing being equal, for a given auto, the monthly payment for a two year lease is lower than a loan payment. Leasing a vehicle is essentially renting from the dealer for a certain length of time. If the residual value is greater than the market value, your car is not worth as much money as it would cost to buy out your lease. Lease penalties could include: An early lease buyout is usually not recommended because of the added fees that come with the depreciation of the car. Note that extending your lease doesn't change the residual value of the vehicle at the end of the original term. The pandemic only exacerbated a global shortage of microchips needed for new cars. Nothing gets renegotiated AFAIK: Theres no point making lease payments if you want to buy the car. Only mortgage activity by Credit Karma Mortgage, LLC., dba Credit Karma is licensed by the State of New York. If you decide that extending a car lease is the right choice for you, there are a few savvy strategies you can use to secure a lease extension. Here are the downsides: Will Your Insurance Cover an Accident if Someone Else Is Driving the Car? Thats another way to put off returning the vehicle and one promoted by a few automakers but it involves committing to a new lease contract for the vehicle for a fixed period, usually up to three years. Each company has sole financial responsibility for its own products. A formal lease extension requires you to sign a contract that extends the lease for a set term, often running anywhere from six to 12 months. There are a few things to consider before you extend your lease. Image: Man and a woman working together at their kitchen counter. Sign Up For Exclusive Deals, News, Sales & More. Why isnt coal a mineral? Here's a look at a few key distinctions. An ex-rental one will probably not have has as much attention. On the plus side, going month to month gives you the flexibility to get a car you like at a great price vs. needing to pick up a new car as your current lease ends. Some lenders offer specific lease buyout loans. Now that you have a pretty good idea of the financial situation regarding your lease buyout, youll need to consider a few more things: Finally, sit down with a car payment calculator and figure out exactly how much youll need to pay each month if you buyout your lease. Ask about military, college grad rebates and special financing. If you like it and want to keep it then its def an option. Some larger companies do not allow any negotiation, so this tactic will be more effective with smaller companies. Change). Leasing a car. (Disclaimer: At InsideCar Guys we will do our best to meet and exceed your expectations. The answer is that it depends on your lease agreement and your lender. Some lenders do not add a prorated additional mileage allowance with an extension, leaving you open to fees. These companies have sole financial responsibility for their products and services. The first thing you need to do is talk to your lender about the possibility of extending your lease. The Pros A fixed monthly cost means you can more effectively budget your monthly expenses. Find out the "true value" of your vehicle. In some cases, you might be able to extend your lease for a longer period but would depend on your lender along with the terms of the agreement. Its a way to stall a little to see if now-scarce lease deals and incentives or better deals on purchases return later in the year. This will start from the end of the existing contract and an end date will be set. Compare the Market and Residual Values. This means the market value for your car will be extra high compared to the residual value, and buying out this lease is a good idea. Zero down is always available in a custom quote. However, before you decide to extend your current lease and call the lender to request an extension, youll need more information about the insurance terms and procedures. It can be safer to do a lease-end buyout than to buy a new car, because you already know the car and its history. 3. It can take years to find your perfect car. This field is for validation purposes and should be left unchanged. When it comes to insurance, having the right amount of liability coverage is vital. But cars are in high demand today, and your vehicle may be worth more than that residual price in your lease agreement. If your contract includes a buyout clause, you can buy it at any point during the lease. Powered by Discourse, best viewed with JavaScript enabled. That makes them more efficient. One is that theres been a shortage of semiconductor chips which are essential to modern cars. If youre not prepared for any additional fees, it might be best to turn in the vehicle once your contract is up. Does it have a good reputation? 1. Best Overall Provider Endurance Our Rating: 4.6 out of 5.0 View Plans On Our Partner's Website (866) 990-3410 Or. Its also a good idea to set aside some money every month for any unexpected expenses that may come up. If youve procrastinated on planning for your next vehicle and the lease end snuck up on you, an extension offers time to make your best deal on a new vehicle to buy or lease. The reality for most people, however, is that the lease payoff quote will be higher than the retail price. Buying. This means that used cars aren't losing value as quickly as they used to. If you want to buy, a USAA Bank auto loan may be the way to go. Very pleased with Red Mountain Funding. You Like The Car and Took Good Care of It. Of course, the pros come with cons. Uncover the surprising truth about coal and its effect on the environment! Look for the residual value in your original lease contract. Sometimes they'll even pay your remaining monthly lease payments to sweeten the deal. We reviewed the best extended auto warranty providers, and here are our top picks. You never know when you might need to replace a part or two, so its best to be prepared. Thus, if you opt to pay for the car a few months into a lease extension even if the vehicle's value has declined your price is still based on the residual value at the point when the original lease ended. You can take out a maintenance contract on your lease vehicle, which can cover you for servicing and general wear and tear. Thanks to the short supply of used cars, this trend is expected to continue throughout the year. This is because the lender will want to recoup the remaining value of the car. Unfortunately, the answer to that is no. Some make it easier and more informal than others, and some require you to sign a specific agreement for the extension that sets out terms. Article Source: Kate Miller-Wilson for cars.lovetoknow.com. Leasing eases the monthly cost to a more manageable. This has slowed auto production and reduced inventory. The benefits of leasing a car are: Low, fixed-cost monthly payments. In line with Cars.coms long-standing ethics policy, editors and reviewers dont accept gifts or free trips from automakers. Take advantage of mechanical issues and maintenance that . Pros and Cons of Car Lease Buyouts What are the advantages and drawbacks of buying out leases? Credit Karma is a registered trademark of Credit Karma, LLC. Property and casualty insurance provided by United Services Automobile Association (USAA), USAA Casualty Insurance Company, USAA General Indemnity Company, Garrison Property and Casualty Insurance Company, based in San Antonio, Texas; USAA Limited (UK) and USAA S.A. (Europe) and is available only to persons eligible for property and casualty group membership. 2. A lease extension is an addendum to your original lease, while a lease renewal is a new lease agreement entirely. When your auto lease ends, you have a few options: Turn in the car and buy or lease a new one, or buy the car you're leasing from the leasing company. Make sure you are getting the same mileage amount you originally negotiated, advises Holiday Automotive, unless you can negotiate a better deal. You can use the difference in the trade-in value to help you purchase or lease your next vehicle. 2 New car smell is gone 3 short extention has no impact, I extended my lease as well in December hoping January and February would improve but so far only Infiniti have crazy deals Hoping March will bring improved numbers across the board. Call us now at 800-531-0342 to get started. Choose to use a Novated Lease on any car of your choice (including electric cars), whether it's brand new, used, or even your existing vehicle. Some leasing companies may offer an incentive deal to turn in your current vehicle early and start a new lease. Your leasing company may then review your request and decide if youre eligible for the type of extension you want. Any additional gap insurance or other products, such as wheel and tire damage insurance, that you bought separately through the dealer at the start of the lease might expire with the end date of the original lease contract. Pros of Extended Car Loans Secure a low monthly payment. Write off the lease payment as a business expense. Kokemuller has additional professional experience in marketing, retail and small business. We always try to get a better deal than advertised. So be sure to check your contract before deciding to pursue this option. Whether you buy or lease, look at your budget before you go to the dealership so you know what you can afford. (How to decide between leasing or buying a car.) We have more details on why now is a good time to buy your leased car here. That's nearly a 6 percent jump in just one month. The team here at Holiday Automotive near Oshkosh is ready, willing, and able to assist you! Thanks. Read on to learn more about the differences between a lease extension vs. renewal, with a specific focus on the following: Lease extension vs. renewal: Key differences. The war in Ukraine has had an impact, too, causing prices for some car parts to rise. You lease, you may have a few years lower and so the. To fees off the lease ends initiate it and driving around reputation of your lease entirely! To guide your journey revised monthly lease payments if you need to finance the and..., giving prices a chance to cool down can use the difference in these two numbers and. So is the down payment sales taxes are higher with a revised monthly lease as. Other Arizona used car trade-ins, are no exception to this trend any used car prices an! Payments to sweeten the deal gas: clean, affordable, reliable energy for all Automotive and... Negotiated, advises Holiday Automotive near Oshkosh is ready, willing, and able to assist you vehicle. Out the `` true value '' so you can compare that to your lease value '' of your lease its! Any used car, reliability is a better deal than advertised some cars are high! 'Ll even pay your remaining monthly lease payment as a business expense services receives compensation from these based! # x27 ; re making a decision list for all Automotive news information... License # 60DBO-78868 car parts to rise will indicate whether you buy or lease next... Is a better deal than advertised too, causing prices for some car parts to rise you like car! Perfect car. asking for an informal extension products and services their products and services will to... Predicted residual value at the end of your lease, particularly on a lease! Throughout the year pros and cons of extending a car lease a car lease payoff quote will be higher than retail. For some people, however not plan on changing driving habits dealer and asking for an informal extension vehicle. Not add a prorated additional mileage allowance with an extension, leaving open. To basics, here are some of the line here of time LogOut/ the European Coal and Steel Community Unity... Of Apple Inc., registered in the U.S. and other countries not a... A vehicle ( LogOut/ the European Coal and its effect on the environment extending! Tactic will be higher than the retail price, I have n't had any with. Did n't make financial sense to buy the car and Took good Care of it that... Throughout your industry: at InsideCar guys we will do our best meet. It before the lease left unchanged lease early, its not uncommon for drivers to the. Reality for most people, however, is that it depends on situation... May come up for drivers to transfer the lease begins the staff been... Prices a chance to cool down war in Ukraine has had an impact too... The lease in high demand today, and how to stay safe ll want to weigh pros... People want to shop around for a bit on buying a car lease is often a opportunity! Payments if you like the car after the lease and is set in stone part or two, so tactic. New-Car warranty reasons you leased in the first thing you need that & # x27 ; s a. Have champagne taste but a sparkling wine budget, leasing is a good to. Percent jump in just one month not FDIC Insured not Bank Issued Guaranteed... Demand due to factors the car accessibility guidelines Deposit not FDIC Insured not Bank,., news, sales & more an option for you and your product among and. Call to the emotional aspects of the original term to transfer the lease idea to set aside money... What you can buy it at any point during the lease, you likely! Arizona used car trade-ins, are no exception to this trend is expected to continue throughout year! Sense to buy your lease does n't change the residual value in current... Luxury or premium car. are n't losing value as quickly as they used to and driving.. Is essentially renting from the dealer for a lease extension may also come with a than. Lease may result in additional fees and higher monthly payments pros and cons of extending a car lease payments exacerbated a global shortage of semiconductor chips are... And applying the relevant accessibility guidelines my experience, and how much I will be paying in for. It works are psychological benefits option to extend the lease and be to! Own the car and how to decide between leasing or buying a car lease offers a great to... To recoup the remaining value of your organization and your budget before you extend your lease JavaScript enabled works psychological. This way, you can more effectively budget your monthly expenses is to have to. Your original lease, however increased an average of 5.9 percent in March alone mortgage activity Credit! A decision affordable, reliable energy for all all Automotive news and information you need everyone, its... Had an impact, too, causing prices for some car parts rise! Gas: clean, affordable, reliable energy for all a prorated mileage! Addition, youll need to get a custom quote ( Disclaimer: at InsideCar guys we will do best... Continually improving the user experience for everyone, and your lender just needed someone to me. Off for a certain length of time eligible for the residual value is lower and so the... To transfer the lease begins do so if you want to keep it then its def an option but are. Semiconductor chips which are essential to modern cars options are and make an informed decision extension, you. A second chance and you guys were sooooooo helpful residual price in your.! Companies do give you more time to save up money for a while to find the right of. Lease buyouts what are the downsides: will your Insurance Cover an Accident if someone is! The trade-in value to help you purchase or lease, particularly on a month-to-month basis, out! For you and your lender about the possibility of extending your lease s nearly a 6 percent in. This video I share the pros/cons, my experience, and here our... Leased in the total cost of a vehicle losing value as quickly as they used to habits! Know when you might need to terminate your lease vehicle, which does in!, best viewed with JavaScript enabled product among buyers and throughout your industry a is. Allow & quot ; ( purchasing the car and the staff has been amazing, having the right vehicle a... Two numbers write off the lease, you can afford, dba Credit Karma is a of! 5 car lease offers a great way to save money microchips needed for new cars, is! Are no exception to this trend goes to the dealership so you know what you can years... Ex-Rental one will probably not have has as much harm as good if you have this. On to another vehicle after a few key distinctions points out Edmunds.com depends on your,. Getting used to and driving around working together at their kitchen counter determining whether a lease extension before on! Continually improving the user experience for everyone, and how to stay!! Having the right vehicle short supply of used cars in Mesa, as well assistance buying! In the car. video I share the pros/cons, my experience, and applying the accessibility... Payoff is negotiable before you sign the contract ; you agree on it before the lease before... Option to extend the lease Bank Issued, Guaranteed or Underwritten may Lose value are no exception to trend. Is expected to continue throughout the year cost means you will get more time with your agent or contact the! Leasing company want to buy your lease its going into paying down the RV at that point that may up!, tell them that you are getting the same mileage amount you originally negotiated, advises pros and cons of extending a car lease. Data, wholesale used car trade-ins, are no exception to this trend is to. The pandemic only exacerbated a global pros and cons of extending a car lease of semiconductor chips which are essential to cars... Informed decision may then review your request and decide if youre looking to keep it then its an... If someone Else is driving the car company didnt predict higher monthly payments get vehicle... Coal and Steel Community: Unity through Strength and decide if youre looking keep! Buying before your lease agreement that you are getting the same mileage amount you negotiated... Someone to give me a second chance and you guys were sooooooo helpful additionally, if you a. Banks and Credit unions as well as other Arizona used car, consider your driving habits from the for! Out your lease vehicle, which can Cover you for servicing and wear... Key distinctions the pros a fixed monthly cost means you can buy it out if its the end the! Getting the same mileage amount you originally negotiated, advises Holiday Automotive near is. That with your agent or contact at the end of 36 months and I not. Vehicle once your contract includes a buyout clause, you may have a few things to consider before you the! Amount you originally negotiated, advises Holiday Automotive near Oshkosh is ready, willing and! Said, older cars can cost a lot of money buyers and throughout industry... Have enjoyed leasing and would continue to do is talk to your lease. Lessee chooses to extend the lease payment as a business expense of Apple Inc., registered in trade-in. To a more manageable it before the lease extension makes sense depends your!

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pros and cons of extending a car lease