A typical lease term lasts around two or three years. When the end of the term nears, you’ll have a couple options available to you. You can bring the Cadillac back to the dealership and walk away without a new model. You could also get an updated version of the specific model you leased or lease a brand-new vehicle entirely. However, if you love the car you’ve been driving and don’t want to part with it, you can choose to finance it. Once the vehicle has been fully paid off, it’s yours to enjoy for many years and miles.