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Ohio Drivers Are Buying Out Their Leases — and the Numbers Tell a Revealing Story
Published 3/3/26
Updated 9/11/26
Ready to start your buyout? See Ohio lease buyout data and get a quote → Ohio lease buyouts
TL;DR (5-minute read): Ohio lessees are sitting on more equity than most of the country. 89.6% came out ahead, with an average of $4,685 above their buyout price. And they're getting there on the lowest average buyout price of any high-volume state ($25,986). Honda leads the market at 15.3% share.
When a lease comes to an end, Ohio drivers face a decision that's become increasingly consequential in today's auto market: return the car, or buy it out.
Based on lease buyout transactions Lease End has processed in Ohio between January 2025 and July 2026, 1,750 funded buyouts in all, most Ohioans are making that call from a position of real strength. 89.6% of Ohio lessees had positive equity in their vehicle, meaning the car was worth more than what they owed to buy it. That's above the roughly 88% national rate we see across our book of business.
A Snapshot of the Ohio Lease Buyout Driver
The average Ohio lease buyout customer carried a credit score of 689, a solid, middle-of-the-road profile that's right in line with what we see nationally.
Average reported income came in at $98,009. That runs below the average across our higher-cost coastal states, but it reflects Ohio's more moderate cost-of-living baseline rather than a weaker buyer profile. 85.2% of Ohio applicants were employed, and the equity outcomes speak for themselves.
The average monthly payment for these buyouts was $537.06, against an average retail book value of $30,656.64.
That's a meaningful monthly commitment, but still well below the national new-car payment average, which exceeded $800 per month in Ohio dealerships by late 2025 — a fact that helps explain why so many lessees are choosing to hold onto their existing vehicles rather than start fresh.
Financial profile of Ohio lease buyout customers:
| Metric | Ohio |
| Funded buyouts | 1,750 |
| Positive equity rate | 89.6% |
| Avg equity | $4,685 |
| Avg buyout price | $25,986 |
| Avg miles at buyout | 36,565 |
| GAP take-rate | 53.0% |
| VSC take-rate | 38.9% |
| Top make | Honda (15.3%) |
| Avg credit score | 689 |
| Avg income | $98,009 |
| Employed | 85.2% |
The Equity Story: Ohio is an Efficient Market
Ohio lessees averaged $4,685 in equity at buyout, the difference between what their car was worth on the retail market and what it cost them to buy it out. (That's before taxes, title, registration, and any remaining lease payments, which vary driver to driver.)
Here's what makes Ohio genuinely unusual, though: the average Ohio buyout price was $25,986, the lowest of any high-volume state in our data. Ohioans are capturing nearly $4,700 in average equity on a car that costs under $26,000 to own outright. Dollar for dollar, that's one of the strongest equity-to-price ratios anywhere in the country, and it's a big part of why the buyout math works so cleanly here.
It compounds with something else Ohio has going for it: the state ranks #1 in the nation for lowest overall cost of car ownership, with competitive used-car pricing, below-average insurance premiums, and low recurring fees. Strong equity on an affordable car, in the cheapest state in the country to actually own it.
The APR Signal: What 9.34% Reveals
The average APR for Ohio lease buyouts came in at 9.34%. That's higher than the headline rates often advertised for prime borrowers, and it tracks with the broader credit profile of these customers. Buyout loan rates in 2025 generally ranged from 6% to over 10%, with credit scores above 720 sometimes qualifying for rates under 6%.
At 695 average credit score, Ohio's buyout customers land in the tier where rates predictably climb toward the high single digits. This isn't a sign of financial distress — it's the normal math of credit-tiered lending. But it does point to an opportunity: Ohio drivers who take steps to improve their credit score before lease-end can potentially shave meaningful dollars off their monthly payments.
Read More: 7 Tips for Lower Lease Buyout Rates
The Mileage Story: 38,064 Miles and What It Means
Ohio lessees averaged 36,565 miles at buyout, essentially dead-on the national average of around 36,000.
That's a meaningful number, because standard lease terms typically allow 10,000 to 15,000 miles per year over 36 months, putting the usual ceiling somewhere between 36,000 and 45,000 miles. Ohio drivers are landing right at that threshold, the point where mileage stops being neutral and starts becoming a penalty. Buying out at that moment converts what would have been an overage charge into equity you keep.
Nationally, Lease End's 2025 Annual Report found average lease-end mileage reaching 37,000 miles, up from 34,000 miles in 2023 — a pattern consistent with what Ohio data shows. Analysts point to return-to-office mandates and general increases in driving as key drivers. For lessees approaching their return date with high mileage, buying out is often the financially rational move: it converts an overage penalty into equity.
What Ohioans Are Buying: Honda Leads
Honda is the top make in Ohio at 15.3% of buyouts, the highest Honda concentration of any high-volume state in our data, ahead of even the coastal markets where Honda leases are most common.
That's not a coincidence sitting next to Ohio's equity numbers. Hondas hold their value unusually well, and when a state's buyout mix skews Honda-heavy, the statewide equity picture follows. If you're an Ohio driver with a Honda lease winding down, the odds you're sitting on real equity are better than average, and better than in most other states.
Read more: How to Calculate a Honda Lease Buyout →
The Bigger Picture: Why Ohio Is a Bellwether
Ohio isn't just one state among fifty. It's home to one of the most significant automotive manufacturing ecosystems in the country, employing hundreds of thousands in assembly, parts production, and logistics. Ohioans don't just buy cars — they build them.
That context shapes how Ohioans think about vehicles. A car isn't a lifestyle accessory; it's a tool, often a necessity. According to the U.S. Census Bureau, roughly 83% of Ohioans commute by car. In that context, the lease buyout decision becomes a practical one: you know this vehicle, it gets you where you need to go, and the math on keeping it beats the alternative.
For a full national comparison, Lease End's state-by-state buyout guide covers all 50 states with real transaction data.
GAP and Coverage: Ohio Runs Right Down the Middle
Coverage decisions are one of the clearest windows into how a state thinks about risk, and Ohio is remarkably average here. Given how many states are outliers in one direction or another, that's itself worth noting.
53.0% of Ohio buyout customers added GAP coverage, almost exactly the national rate. 38.9% added a vehicle service contract, a shade under the national average and noticeably below Ohio's Midwest neighbors, where Michigan runs 45.6% and Minnesota 48.1%. Ohio drivers face similar winters, so the gap likely says more about Ohio's lower buyout prices leaving less exposure to protect than about how anyone feels about road salt.
Neither is a right-or-wrong call. GAP matters most when you're financing close to the car's full value; with Ohio's average buyout price under $26,000 and average equity near $4,700, a lot of Ohio drivers are simply starting from a stronger position than most.
What This Means for Ohio Lessees Right Now
If you're approaching the end of a lease in Ohio, here's what the data suggests:
Your equity is likely real, and likely bigger than you think. Nearly nine in ten Ohio buyouts we've funded came in with positive equity, averaging $4,685 above the buyout price. That's not a rounding error. It's money you keep by buying out, and money you hand back by returning the car.
Your APR has room to improve. At an average of 9.34%, Ohio buyout customers are paying rates that reflect a mid-tier credit profile. A few months of credit improvement before your lease end can meaningfully reduce your cost of ownership.
Your mileage is already telling you something. If you're over 36,000 miles, you already have financial pressure pushing toward a buyout. Use it to your advantage rather than absorbing it as a penalty.
The alternative is expensive. New cars in Ohio averaged over $50,000 at the end of 2025, with average monthly payments exceeding $800. The vehicle you already drive — and already know — may be the most affordable car you'll ever own.
Lease End helps Ohio drivers navigate the buyout process from start to finish — without the dealership pressure. If your lease is coming up, get started with the form below or check your vehicle's Lease Buyout Score.
Susan Lake
August 23, 2026
Buying out my lease on my own had me…
Buying out my lease, on my own, had me going through many hurdles and obstacles. The leaseholder, Genesis Finance, said I had to get the buyout information from a dealer. The dealer provided me with a written buyout that my bank found unacceptable, plus I would have to deal with all the motor vehicle department transactions, so I decided to try Lease End. Amazing within a couple of hours everything was done barely lifting a finger to send photos of our driver's license, insurance card, and registration. They arranged the financing with a lender well known to me, as I already have some banking relationships with, at a rate better than I was entertaining from my credit union. They got all the information directly from Genesis finance and handled all the motor vehicle paperwork. All I had to do was Auto sign the loan agreement online. The service was outstanding everyone that I dealt with, which were few, were amazing, confident, courteous, friendly and efficient. What an incredible experience couldn't ask for more. Everything taken care of just like that. I still have trouble believing it was so easy.