Typically, leases cannot be extended beyond their original maturity date, nor can monthly lease payments be changed. While car loans can extend out to as long as seven, eight, and even 10 years these days. leases generally don't last beyond three or four years because leasing companies expect to sell their leased cars off after the lease term ends and want the cars to have a decent amount of residual value. However, it can't hurt to ask your leasing company if the possibility exists to adjust your lease. Remember, though, that while stretching out a lease beyond 36 to 48 months will lower your monthly payments, you run the risk of having to pay for expensive maintenance (e.g., brakes and tires, etc.) on a car that you don't even own. In addition, the three-year/36,000-mile warranty will have expired. This is a major disadvantage of long-term leases and another reason why they are generally not offered. Another strategy is take action to increase your income or reduce your expenses to make the lease payment more comfortable to pay. When the lease ends, if you still really love the truck, you can make arrangements to buy it.

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