What You Need to Know About an Auto Lease Buyout

Posted: Wednesday, April 18th, 2018

If you’re nearing the end of your lease term, you might be wondering what your next vehicle will be. However, your perfect car might be in front of you all along. A car lease buyout lets you purchase your current vehicle once the lease is up. Keep the following car leasing facts in mind if you’re considering this option:

  • Fees – Most lease contracts include a lease buyout price, but you’ll want to figure in taxes, DMV fees, and administrative fees to find the true cost of buying a car.
  • Value – Compare your predetermined lease buyout price to used vehicles of the same brand to ensure you’re getting a fair deal.
  • Penalties – If your car has some knicks and scratches, you might get penalized if you return your car at the end of the lease. It’s not a problem if you choose to buy the car.
Green Light Salesperson and New Nissan Versa S Owner with people walking

Turn to Green Light Auto Credit for Lease Buyout Financing

If you’re planning to financing your next vehicle–whether it’s from a used car dealer or an auto lease buyout–you’ll want to get a low interest rate on an auto loan. That’s where Green Light Auto Credit comes in. Fill out a financing application to get a great interest rate on a bad credit loan, then contact us if you have any other questions.