What Is a Lease Buyout?

documents being prepared for a lease buy out
 

What is a lease buyout, and when it is a good option for Xenia drivers? A lease buyout is when you purchase your leased car, either at the end of the lease term (lease-end buyout) or before (early lease buyout). So, how does a lease buyout work? Below, join Key Chrysler Jeep Dodge Ram FIAT for a detailed lease buyout definition. We’ll also compare the benefits of early- vs. lease-end car lease buyouts to help you decide what works for you.

 

 

Lease-End Buyout

This type of car lease buyout is the most popular option with Beavercreek drivers. How does a lease buyout work when you wait till the end of your lease term to purchase your leased vehicle? It’s simple: you pay the difference between what you’ve already paid in lease payments, and the vehicle’s estimated value at lease-end — and it’s yours! Lease-end buyout is a good choice if:

  • You’re happy with your car, and there’s no other similarly-priced model you’d rather drive.
  • Your car hasn’t required any major repairs or services.
  • You’re able to obtain a low interest rate to finance the buyout price.

Early Lease Buyout

Buying out your lease is a bit like buying a used car — except you know everything there is to know about the vehicle’s condition and history! That’s true whether you buy your leased vehicle at lease-end or earlier. So, what is a lease buyout called when you buy your leased vehicle before your lease term is up? That’s early lease buyout — and while it’s less popular with Springfield drivers than a lease-end buyout, it may be the right choice for you if:

  • You’re concerned about lease penalties for exceeding mileage limits or not maintaining scheduled services like tire rotations and oil changes.
  • Your car has sustained exterior or interior damage that may also bring lease penalties.
  • Your vehicle has depreciated quickly and is now worth less than market value.

Negotiate Your Car Lease Buyout at Key Chrysler Jeep Dodge Ram FIAT

Now that you have a solid lease buyout definition, you can decide which option is best for your circumstances. At Key Chrysler Jeep Dodge Ram FIAT, we’re committed to finding financial solutions that help you to drive home to Wilmington in your dream car! Contact us today for more car-buying tips from our friendly auto finance experts.

More from Key Chrysler Jeep Dodge Ram FIAT

  • 2021 Dodge Charger Trim Levels

    If you’re looking to upgrade your Wilmington driving experience to something that goes beyond an ordinary sedan, browse the 2021 Dodge Charger trim levels at Key Chrysler Jeep Dodge Ram FIAT! Starting at just $29,995 MSRP and offering a variety of configurations and engine options, the 2021 Dodge Charger has everything you’re looking for in a new vehicle. Learn more…

  • 2021 Jeep Gladiator Colors

    Many Beavercreek shoppers turn to a new Jeep to tackle all of their adventures. With the new Jeep Gladiator, not only can you regularly go off the beaten path, but you’ll also be able to tackle any job on the worksite as well. Fortunately, all that muscle and brute are backed by stunning good looks…

  • Inside All the Jeep Cherokee Trim Levels

      For Xenia drivers who want an SUV that’s high performance, the 2021 Jeep Cherokee has probably come to mind. With options for a luxurious interior, Jeep Cherokee 4X4 performance, and so much more, it’s a great machine for demanding Beavercreek drivers. Key Chrysler Jeep Dodge Ram FIAT has information on the Jeep Cherokee trim levels below so you can…

Saved Vehicles

SAVED VEHICLES

You don't have any saved vehicles!

Look for this link on your favorites:

Save

Once you've saved some vehicles, you can view them here at any time.

Contact Us

(937) 347-5155

Call Now

2020 N. Detroit St. • Xenia, OH 45385

Get Directions

Today's Hours:

Sales: Closed

Service: Closed

Key Chrysler Jeep Dodge Ram FIAT 39.7120915, -83.936812.