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The 2026 Annual Lease Buyout Report
Published 3/25/26
Updated 6/18/26
TL;DR (4-minute read): According to Lease End, drivers opting for a lease buyout saved an average of $100/month compared to signing a new lease in 2025...adding up to $73M in collective savings across 19,287 transactions. The most popular buyout vehicle shifted from the Honda Civic to the Ram 1500, hybrid buyouts jumped from 5% to 7.3% year-over-year, and the average buyer is now 47—the youngest on record.
Stats based on 19,287 lease buyout transactions completed January 1–December 31, 2025, plus 2026 year-to-date insights. For downloadable PDFs, see bottom of page.
Summary
In a market defined by elevated new vehicle prices and persistent affordability pressure, lease buyouts have become a strategic financial decision for drivers across the country. Trade and tariff pressure on imported vehicles and parts has further squeezed new-car affordability, pushing more drivers toward buyouts. Lease End's 2026 Annual Lease Buyout Report examines who is buying out their leases, which vehicles are most in demand, and how economic conditions are shaping those choices.
The data is drawn from Lease End's proprietary transaction set and reflects real decisions made by real drivers navigating a difficult auto market.
Who Is Buying Out Their Leases?
Age and Generational Trends
The average age of a Lease End customer dropped to 47 in 2025, down from 48 in 2024 and 50 in 2023 — a steady trend toward younger buyers.
- Drivers 45 and older still represent 53% of all lease buyouts
- Millennials (30–44) account for 36% of buyouts
- Gen Z (18–29) now represents 11%, up from near-negligible figures in prior years
- Millennials and Gen Z combined: 47% of all buyouts, up from 35% in 2023
Older drivers tend to value familiarity and the convenience of skipping the car-shopping process. Younger drivers are motivated differently: they're using lease equity to sidestep rising new car prices and the higher monthly payments that come with financing a new vehicle.
Top vehicles by generation
| Generation (Age) | #1 Most Popular | #2 | #3 |
| Gen Z (18-29) | Honda Civic | Honda Accord | Kia Forte |
| Millennials (30-44) | Ram 1500 | Jeep Wrangler | Jeep Grand Cherokee |
| Gen X (45-60) | Ram 1500 | Jeep Wrangler | Honda Pilot |
| Baby Boomers (61-79) | Ram 1500 | Honda CR-V | Chevrolet Equinox |
| Post War (80-97) | Honda CR-V | Chevrolet Equinox | Hyundai Tucson |
Where Are Drivers Buying Out Their Leases?
Lease buyout volume correlates with population — but per-capita data tells a different story.
Top states by total buyout volume
- California — most popular model: Honda Civic
- New York — most popular model: Ram 1500
- New Jersey — most popular model: Jeep Wrangler
- Florida — most popular model: Jeep Wrangler
- Texas — most popular model: Ram 1500
Top states by per-capita buyout rate
- New Jersey
- New Hampshire
- Vermont
- Rhode Island
- Connecticut
Smaller Northeastern states dominate the per-capita rankings, driven by high lease market penetration, dense suburban driving patterns, and regional lending competitiveness.
Which Vehicles Are Drivers Buying Out?
Vehicle Type Breakdown
SUVs and crossovers continue to dominate, reflecting the vehicles Americans were leasing three years ago when these buyouts originated.
- SUV/Crossover: 65%
- Sedan: 18%
- Truck: 13%
- Other (minivan, coupe, hatchback, wagon, convertible): 4%
Top 10 Most Popular Models for Lease Buyouts (2025)
| Rank | Model | Avg. Mkt. Value | Avg. Equity | Avg. New Payment |
| 1 | Ram 1500 | $37,961 | $5,476 | $688 |
| 2 | Jeep Wrangler | $35,271 | $2,397 | $665 |
| 3 | Honda CR-V | $30,211 | $7,886 | $470 |
| 4 | Honda Civic | $25,194 | $6,735 | $418 |
| 5 | Jeep Grand Cherokee | $30,943 | $2,883 | $595 |
| 6 | Toyota Tacoma | $36,583 | $6,601 | $594 |
| 7 | Honda Accord | $27,235 | $7,270 | $462 |
| 8 | Mazda CX-5 | $27,260 | $6,214 | $442 |
| 9 | Honda Pilot | $33,908 | $5,543 | $584 |
| 10 | Honda HR-V | $23,271 | $5,358 | $406 |
The Ram 1500 claimed the top spot in 2025, overtaking the Honda Civic (which led in 2024). The Jeep Wrangler moved up to second, driven by its exceptional value retention and unusually loyal owner base. The Mazda CX-5 entered the top 10 for the first time, replacing the Toyota Highlander.
All four Honda models in the top 10 carry average monthly payments below $600 — making them among the most budget-friendly buyout options available.
EVs and Hybrids
EV and hybrid buyouts grew from 6% of total transactions in 2024 to 9.1% in 2025, with hybrids driving the majority of that growth.
- EVs: 1.8% of buyouts
- Hybrids: 7.3% of buyouts (up from 5% in 2024)
Tesla's resurgence in EV buyouts follows the company's reversal of its lease buyout moratorium in late 2024.
Top 5 EV models bought out in 2025
- Tesla Model Y
- Tesla Model 3
- Volkswagen ID.4
- Porsche Taycan
- Ford Mustang Mach-E / Rivian R1S (tied)
Top 5 hybrid models bought out in 2025
- Jeep Wrangler 4XE
- Toyota RAV-4 Hybrid
- Volvo XC60
- Honda CR-V Hybrid
- Honda Accord Hybrid
Which Manufacturers Lead in Lease Buyouts?
Top 10 manufacturers by buyout volume
Honda and Toyota continue to lead — both brands carry reputations for longevity and value retention that make buyouts a rational financial choice. Honda vehicles average a lifespan of approximately 12 years with proper maintenance. Subaru's entry into the top 10 reflects its increasingly loyal owner base and strengthened resale values.
What Are Drivers Paying?
Monthly Payments
The average monthly lease buyout payment in 2025 was $563, compared to $659 for a new lease — a savings of roughly $100/month or $1,200/year.
Loan Terms
Drivers are increasingly stretching their loan terms:
- 2022 average: 70.2 months
- 2023 average: 70.9 months
- 2024 average: 71.4 months
- 2025 average: 72.3 months
Interest Rates by Credit Score
| Credit Rating | Score Range | Avg. APR |
| Exceptional | 800+ | 6.23% |
| Very Good | 740-800 | 6.60% |
| Good | 670-739 | 8.15% |
| Fair | 580-669 | 11.34% |
| Poor | Under 580 | 15.60% |
Drivers with credit scores of 520 and above may qualify for a lease buyout loan.
APR Trends Through 2025
The average lease buyout APR (across all credit profiles) started 2025 at 9.49% and ended the year at 9.09% — a 40-basis-point decline.
Monthly APR progression:
| Month | Avg. APR for lease buyout loan |
| January | 9.49% |
| February | 9.70% (year high) |
| March | 9.34% |
| April | 9.24% |
| May | 9.02% (year low) |
| June | 9.14% |
| July | 9.13% |
| August | 9.29% |
| September | 9.17% |
| October | 9.15% |
| November | 9.19% |
| December | 9.09% |
Early 2026 data shows the average has dipped further to 9.03%, representing the most favorable financing conditions in over a year.
APR and Credit Score by State
National averages: 9.34% APR, 688 credit score (median APR: 9.19%).
- Lowest average APR: Idaho at 7.96%
- Highest average APR: Oklahoma at 11.29%
- Highest average credit score: New Mexico at 714
On a $30,000 buyout over 72 months, the spread between lowest- and highest-APR states translates to roughly $3,000+ in additional interest over the life of the loan.
The Midwest consistently shows the most favorable combination of low APR and high credit scores. The Southeast runs approximately 37 basis points higher than the Midwest.
| State | Avg. APR |
| Alabama | 10.43 |
| Alaska | 10.20 |
| Arizona | 9.09 |
| Arkansas | 9.45 |
| California | 9.37 |
| Colorado | 8.75 |
| Connecticut | 9.41 |
| Delaware | 9.00 |
| Florida | 8.90 |
| Georgia | 9.71 |
| Hawaii | 9.29 |
| Idaho | 7.96 |
| Illinois | 9.08 |
| Indiana | 9.11 |
| Iowa | 9.11 |
| Kansas | 9.19 |
| Kentucky | 9.98 |
| Louisiana | 10.44 |
| Maine | 9.32 |
| Maryland | 9.80 |
| Massachusetts | 9.11 |
| Michigan | 9.67 |
| Minnesota | 9.20 |
| Mississippi | 10.35 |
| Missouri | 9.25 |
| Montana | 9.30 |
| Nebraska | 9.05 |
| Nevada | 10.17 |
| New Hampshire | 9.10 |
| New Jersey | 9.02 |
| New Mexico | 8.61 |
| New York | 9.21 |
| North Carolina | 9.00 |
| North Dakota | 9.09 |
| Ohio | 9.34 |
| Oklahoma | 11.29 |
| Oregon | 9.13 |
| Pennsylvania | 9.34 |
| Rhode Island | 9.64 |
| South Carolina | 9.11 |
| South Dakota | 9.38 |
| Tennessee | 8.96 |
| Texas | 9.43 |
| Utah | 8.90 |
| Vermont | 8.75 |
| Virginia | 9.14 |
| Washington | 8.90 |
| Washington D.C. | 9.08 |
| West Virginia | 8.77 |
| Wisconsin | 9.33 |
| Wyoming | 11.00 |
Mileage and Overage Fees
The average mileage at lease-end in 2025 was 36,954 miles — just 954 miles over the standard 36,000-mile allowance. At 10–30¢ per mile, that translates to up to $300 in potential overage fees for the typical driver.
High-mileage drivers face steeper exposure. Jeep Wrangler lessees averaged 44,740 miles at buyout — 8,740 miles over the standard limit. At 30¢ per mile, buying out rather than returning saved those drivers an average of $2,622 in overage fees.
For any driver who has exceeded their mileage cap, a lease buyout often makes stronger financial sense than returning the vehicle.
Market Value and Equity
All 10 of the most popular buyout vehicles carried positive average equity in 2025 — meaning their market value exceeded the lease payoff amount.
Average equity ranged from $2,397 (Jeep Wrangler) to $7,886 (Honda CR-V). Honda vehicles showed the strongest equity retention across the board: the CR-V, Civic, and Accord all exceeded $6,700 in average equity.
Drivers with positive equity capture real financial value by buying out. Drivers with negative equity retain the ability to simply return the vehicle at lease-end, with the dealer absorbing the loss.
Persistently strong used car prices are a major reason most popular buyout models retained positive equity in 2025.
Key Takeaways for 2026
- Drivers saved $73,155,589 collectively through Lease End in 2025 by avoiding return fees and leveraging equity
- Average savings per driver: approximately $5,500 in equity + ~$3,800 in avoided overage fees
- Lease buyout buyers are getting younger — average age is now 47, down from 50 in 2022
- Hybrid buyouts are growing fast; EV buyouts remain a small but expanding share
- Financing conditions are the most favorable they've been in over a year, with 2026 YTD APR at 9.03%
- Honda dominates on value retention; the Ram 1500 is now the single most bought-out model
- Constrained new-vehicle inventory has also reduced upgrade options for many drivers, increasing the appeal of buyouts.
Methodology
Data sourced from 19,287 Lease End lease buyout transactions completed January 1–December 31, 2025. Additional insights drawn from vehicle valuation data, market trends, and consumer finance behavior. APR figures represent averages across the full credit spectrum (minimum score: 520). State-level APR figures reflect the best average rates secured for drivers in each state — individual rates vary based on credit profile, loan amount, and lender availability.
INFOGRAPHIC DOWNLOAD (PDF)
FULL REPORT DOWNLOAD: 2026 Lease End Annual Lease Buyout Report (PDF)
Phil
September 19, 2026
Great experience and results
I was skeptical of Lease End's promise to quickly and easily find a lender to buy out my lease. After all, we're inundated with claims and promises constantly. Was this any different? So I checked reviews here and elsewhere, finding high ratings, and decided to move ahead. The results were everything promised. The two agents I worked with, Houston and Dax, were professional, informative and helpful. I was offered 2 options along the way, GAP insurance and an extended warranty. I declined and they were never mentioned again. Within a day, a major bank agreed to finance the 3 yr old car at a rate that was a 1/2 point lower than the best rate I had received from my credit union. There were no extra fees from Lease End. Once I accepted, I was able to sign in to a personal webpage that monitored progress. Everything promised was delivered easily, hassle-free and from my home. Best of all, I avoided returning to my dealer who would only give me their financing proposal if I paid them a visit.