lease extending question

[timmn2002]

I have a plane that has a lease for 3 more years and i want to extend that another 2 years beyond the 3. Would i use the extend option for 5 years or would i just extend for 2? Does it renegotiate the total time or just extend past the lease i have is basically what i am asking. (not sure if i missed it in the manual)

[Sami]

3+2 => 5.

[timmn2002]

So when i extend it adds to the previous lease is what your saying correct. just wanted to make sure i didnt end up with a eight year lease when i just wanted a a five. Thanks for the reply

[Cardinal]

Yes, extend it for 2 years to get 5, but it does renegotiate the entire lease period. If you have already had the plane a while and inflation has sent the lease rates up, then you are going to pay a higher monthly rate for all 5 years than you were going to for the first 3 years, even with the multi-year discount. So do some math before clicking on Confirm.

[timmn2002]

Understand completely now as that is what i got out of the previous reply from sami, just didn't want to do something that i was unsure of. Thanks for the reply and thanks for letting me know about checking inflation rates (might have gotton myself into an awful situation)

[Troxartas86]

Just wait until the original lease is closer to expiration before you extend it to avoid paying more until you have to.