Yes, you can typically extend an Acura car lease, but it's not an automatic process and depends on Acura Financial Services' (AFS) policies at the time. The most common option is a lease extension, often called a "month-to-month extension," which allows you to keep the car for a short period, usually one to six months. This is ideal if you're waiting for a new vehicle delivery or need more time to decide on your next car. You must contact AFS well before your lease maturity date to request this, as extensions are granted at their discretion and require a good payment history.
The process involves a new agreement outlining the extended term and the new monthly payment, which is often similar to your current payment. There will be mileage restrictions during the extension period, so exceeding your original lease's mileage cap remains a concern. It's crucial to understand that a lease extension is different from a lease buyout, where you purchase the vehicle at the end of the lease term. If you love the car, a buyout might be a better long-term financial decision, especially if the buyout price is favorable compared to the current market value.
Before deciding, compare the costs of extending against other options. Weigh the convenience of keeping the car for a few more months against the potential for higher maintenance costs on an aging vehicle. Always get the extension terms in writing from AFS.
| Consideration | Typical Details | Key Factor |
|---|
| Eligibility | Requires lessee in good standing; subject to AFS approval. | Payment history is critical. |
| Extension Term | Usually 1-6 months on a month-to-month basis. | Not a long-term solution. |
| Monthly Payment | Often remains close to the original lease payment. | Confirm the exact amount with AFS. |
| Mileage Cap | A prorated mileage allowance based on the original contract. | Exceeding the cap still incurs fees. |
| Process Initiation | Must contact AFS 60-90 days before lease maturity. | Do not wait until the last minute. |
| Alternative: Buyout | Purchase the car at the predetermined residual value. | Compare residual value to current car's market value. |
