Can I buy my MINI at the end of a lease?
Yes! Every lease agreement includes a guaranteed purchase option (often called the residual value). If you fall in love with your MINI during your lease, you can buy it outright at the end of your term.
Is it cheaper to buy or lease a car?
Leasing is usually cheaper in the short term because of lower monthly payments and minimal repair costs. However, buying is often cheaper in the long run because you eventually stop making payments altogether and own a valuable asset you can sell.
Can I terminate a car lease early?
Yes, but it can be costly. Early termination typically requires you to pay off the remaining lease payments or face significant penalties. If your situation changes, our finance team at Flow MINI of Raleigh can help explore options like a lease buyout or trade-in.
What happens if I go over my lease mileage limit?
If you exceed your mileage limit, you will be charged a predetermined fee for every extra mile driven (usually between 15 to 25 cents per mile). If you know you are a heavy driver, it is always best to negotiate a higher mileage limit at the start of your lease.
