I’m about to do a GM Financial Lease on a Chevy Equinox and wondering if at lease end you decide you need 3 more months to find the next deal, Will GM extend on a Month -to-Month basis for up to 6 months?
I have done this before through Honda Financial and also Nissan Finance without any issues.
Thanks for Your help
They extend up to 6 months, however they will likely offer you one or two months only unless you have a good reason.
Also, you have to have a good relationship with them…in other words, keep a good payment history. If you are late on payments, even one, don’t expect them to throw you a bone.
Tell em’ you are waiting for your Model 3 delivery.
I’m doing that now. Month to month for a maximum of six months. They allow an additional 1K miles per month.
They told me I can extend my equinox up to 2 months. This was for one of the November 2016 deal leases discussed on this site. Probably not going to use it though. Finalizing a deal for a 2019 right now.
It’s not “month to month”; you call, you request to extend which you can do on your actual last day the lease is due (assuming the lease call center is open, so be aware of hours and timezones, while I see GMF is open on Saturdays, the lease center may not be).
You have an one time request to make an extension for either two, four or six months. You cannot request two months now then request another four month extension after the two month extension is up and I was told its based on your mileage rate so it could be different if you had 10k, 12k or 15k. I was also told account needs to be in good standing, not entirely sure what counts as in you paid after your due date yet I’d imagine a 30+ day late is a disqualifer…Keep in mind if you extend, even for two months, you’re paying registration fees and in many states you pay for the year and do not get any kind of “refund” if you lose ownership of the vehicle so often extended to the max of six months is a great way to go.
If anyone wants to add their experience, please do just be sure you actually called. Call center reps could be wrong but already there’s a lot of conflicting data points in this thread…
Some states allow you to transfer plates. OP doesn’t list his state, so no clue if this would apply to him or not
Yes Registration fee’s are the bummer of extending a lease but here in Wisconsin we can transfer plates (for a fee). I think the breakeven on the transfer fee is around 6 months. Also our registration fees for cars are under $100 so not a deal breaker when you consider a new lease might be $100 a month more than your current good deal.
I’ve always loved getting a great lease on a Promotional vehicle with a crazy residual and a low MF.
Part of the Game for Dealers and Manufactures I thought is to get you by knowing at lease end you “have” to get another vehicle. So most often when my leases did end there were not any good deals to be had, but I have found out through the years vehicle leases are much like the weather you only have to wait a day for them to change.
The other way to combat that is have another vehicle in your fleet in order to bridge you to the next great lease deal.
Also a big thanks to everyone for their help on this. a great site with very helpful information.
PA can transfer too, and it’s minimal cost to register and/or transfer.
The reason I wrote what I wrote is that it’s a common theme on this board to mention registration when extending a lease, however, not everyone is stuck in CA with their rules either. Extending a lease is no biggie for me and many others.
In my conversation with them last week I was told month to month. There is also a 10 day grace period from lease end date. I’ll call again to verify.
I just called and asked about the ten day grace period and they said yes; that wasn’t told me on my previous call. They told me that it is indeed 2, 4 or 6 months closed ended and not an open ended month to month arrangement.
The good news is many of us have another ten days and we get to hear if there are any Dec deals before extended. The bad news for some is they could be driving on expired tags starting tomorrow so you may want to double check that.
i was able to extend my equinox for one month, so even one month is possible, just did this 3 weeks ago, hoping for some good end of year leases from a desperate dealer:)
Thx for clarifying. Yep, my tags expire Dec.1st. Think I’ll just pay the $300 reg fee and extend for a few months.
Clearly the reps don’t exactly know as I originally wasn’t told about the ten day grace period.
Has anyone extended their lease during the grace period BEFORE they renewed their registration/tags?
Do you know if the NJ allowes it?
My GM lease is ending soon and I’m thinking of extending the cheap monthly payment for some more time if I can.
Maybe I am missing something here. I just called Chevy to extend the lease on my Equinox. I spoke to the Lease end department. They tell me I can extend my lease but I do not get any miles. I had a 27 month lease and I have 27,000 miles on the car. So they are telling me I can make the additional payments to extend the lease but if I don’t turn the car in with 27,000 miles or less I owe $.25 per mile. So basically they are telling me I can pay for the car to sit in my driveway but I can’t drive it or I owe even more money. Is this correct?
Mike,
Might want to call again. I was told they give you an additional 1K per month.