Continue Using It
When your Chromebook reaches the auto-update expiration date, you will still be able to use it. You just won't get any more Chrome OS updates, which include new security features and optimizations for your Chromebook's hardware. You'll most likely be able to continue using your Chromebook after the AUE date for months or years before you start noticing issues. To check your Chromebook's end-of-life, go to Settings > About Chrome OS > Additional details and you'll see the date listed under Update Schedule.
Buy a New Chromebook
If your Chromebook reaches end-of-life (EOL), then it is most likely several years old. Newer Chromebooks are more energy-efficient, come with more RAM, and more storage than most older laptops. If you get a new Chromebook, that laptop will be auto-updated for at least five years. You can also sell your old Chromebook as used and use the money you get from that sale to purchase a new one.
Install Ubuntu Linux on It
Install Ubuntu Linux. Since you won't see any more Chrome OS updates, you might be looking for a fresh interface. Switching to Ubuntu Linux will definitely provide a fresh, new interface. You can even use a program called crouton so you'll be able to switch between Chrome OS and Linux whenever you want to!
Recycle It
Make sure you restore your Chromebook to erase any personal data before you recycle it. If you live in the US, request a shipping label from RLGA. If you live in different areas of the world, like the UK or Asia, you can request a shipping label from Re-Teck.
Regift It
You may not want to use it anymore, but that Chromebook could be the perfect gift, especially for a friend or family member who could use a lightweight, small, and easy-to-use little computer. Since Google Docs and the rest of the Google products are integrated into the Google economy, it's the perfect word-processor for someone in school or someone with a writing-heavy job. Even without an Internet connection, Google Docs and the other Google programs will keep a local copy of any documents or projects inside Google Drive.
Use Your Chromebook As An External Monitor
Use software like Duet Display to turn your Chromebook into an external monitor. The functionality really only works if your Chromebook has a 4k display, like the Samsung Galaxy Chromebook.
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