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What Is a Lease Buyout?

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Lease buyout definition: When you renegotiate your lease contract so that you can finance the car to buy it. Whether Cypress drivers are interested in purchasing the vehicle they’re currently leasing, or they’re curious about what their financial options are should they choose one of our lease specials, you’re in the right place. We’re going to go over everything you need to know about a car lease buyout. So, how does a lease buyout work? Let’s find out.

Lease-End Buyout

What is a lease car buyout? Houston drivers know our aforementioned lease buyout definition, but any answer to the question, “How does a car lease buyout work?” should cover the two types of car lease buyouts: lease-end buyouts and early lease buyouts.

With a lease-end buyout, you will be expected to make finance payouts towards the residual value of the car after your lease contract is up. Normally, this price point is agreed upon before you sign the lease agreement. This choice is a good deal if:

  • There have been little to no repairs since you’ve had the car
  • You love your vehicle vehicle
  • There aren’t other models at a similar price point that you like better
  • The dealer offers you a competitive interest rate on your finance contract

Early Lease Buyout

Can’t wait till the end of your lease term? In many cases, you’ll have the option to pursue an early lease buyout. Not all contracts allow this, and in some cases, you’ll have to pay a fee to break your lease so you can finance your car. Keeping that in mind, in order to determine whether or not an early lease buyout is worth the investment, you’ll want to consider the following:

  • The lease-end residual value on your original contract
  • The amount you still owe on the lease
  • If the vehicle has depreciated quicker and is below market value, you might have to pay the difference

After reviewing this information, determine whether or not an early lease buyout is worth the investment. If you need help crunching the numbers, give us a call at (832) 912-2500.

Explore Our Selection of Lease Offers in Houston

Now that Jersey Village drivers have a car lease buyout definition for the question, “What is a car lease buyout?” and an answer to the question, “How does a car lease buyout work?”, if you have any more questions about this process, don’t hesitate to reach out to the financiers at Northwest Chrysler Jeep Dodge Ram. Do you have other questions about car shopping? Be sure to check out our guide on whether to lease or buy!

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