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)
3+2 => 5.
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
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.
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)
Just wait until the original lease is closer to expiration before you extend it to avoid paying more until you have to.