Navigating the end of your car lease requires some advance financial planning.
When looking at lease vs. buy, more drivers have been opting to lease in recent years. Leasing rates are up 76 percent since 2008, according to research firm Experian Automotive. During the fourth quarter of 2015, leases accounted for almost 29 percent of all new vehicle transactions, up from 25 percent a year earlier and 20 percent in 2012. They expect 1.8 million vehicles to come off lease through the rest of 2016.
If you're among those drivers, expect to hear from the dealership soon if you haven't already.
"Dealers are doing a lot of things with leases to move new iron," said Jack Nerad, executive editorial director for Kelley Blue Book. "They'd like to put you in a new car. That's how they make money."