Lease Buyout

Purchasing your leased car or truck might be one of the most important financial decisions you make this year. Let us help you.

Buy Your Leased Vehicle

How it Works

A lease buyout involves purchasing the vehicle you have been leasing, usually at the end of your lease term but sometimes earlier. Typically, one would review their lease agreement, determine the buyout price, inspect the car, secure financing, and then complete the buyout.

Reasons to do a Lease Buyout

Pros

No mileage penalties. If you have exceeded your mileage limit, buying out the lease avoids extra charges.

You are familiar with the vehicle you are buying

Potential savings: If the market value of the car is higher than the residual value, you may get a good deal.

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Reasons to Not do a Lease Buyout

Cons

The buyout price may be more than the car’s market value.

The car continues to depreciate, which might not make it a wise long-term investment.

New loan or lender fees.

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Have Any Questions?

FAQ’s

Take a look at our FAQs to get answers to commonly asked questions.

How can I calculate my monthly payment?

Click the “Get Started” button and answer a few basic questions to see what your new monthly payment will be. We will give you a call and will help you calculate several loan options.

How long does it take to secure my loan?

The entire process can take anywhere from a few days to a few weeks. The time it takes to complete will depend on your unique situation and the lender selected.

Do I need to inspect my car or truck?

Yes, it is important to ensure your automobile is in good condition. If it’s worth less than the buyout price, you may want to negotiate or reconsider the buyout.

How do I know my buyout price?

The lease buyout price is usually specified in the lease agreement. It is often the residual value of the car (the estimated value of the car at the end of the lease) plus any remaining payments and fees.

What are new loan and lender fees?

While our company doesn’t charge any additional fees, many lenders will charge application and processing fees. These fees will be fully disclosed to you so you can decide whether or not a new auto loan is the best choice.

Will a hard credit check affect my credit score?

A hard credit check can lower your credit score by as much as 10 points. However, most people will notice that one additional hard credit check will lower their score by 5 points or less.