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What is a Lease Buyout?
Published 2/24/25
So, your lease is coming to an end. Maybe you’ve fallen in love with your car. Maybe you're nervous about the additional charges you'll pay from driving over your miles. Maybe you'd like to modify your car.
Whatever the reasoning, if you're asking yourself, “Can I keep this car forever?” The answer is yes—and that’s where a lease buyout comes in.
A lease buyout allows you to purchase the vehicle you’ve been leasing, turning it from a borrowed vehicle into something you own. But how does the buyout process work? Let’s break it down step by step.
Steps to Buy Out Your Lease
1. Check Your Lease Agreement
The first thing you need to do is find out what's referred to as your car’s "residual value." The residual value is the estimate the leasing company made of what they thought your car would be worth at the end of your lease. This number will be listed in your lease contract, and it’s typically the amount you’ll need to pay to buy the car.
2. Evaluate Your Car’s Market Value
The residual value is how much it costs to purchase your car, so naturally, the next step is figuring out how much it would cost to buy a similar car elsewhere. You can look up your car’s current market value on sites like Kelley Blue Book or Edmunds and then compare that number to your car's residual value.
Additionally, you can look up the actual sale price of similar cars on sites like Facebook marketplace or wherever people are locally listing cars for sale. If the buyout price is lower than the market value, you could save a significant amount by purchasing your car rather than looking for a similar used car.
3. Get Financing
Unless you’re buying the car with cash, you'll need to secure a car loan. Start by checking with your current leasing company to see if they offer financing options. But don’t stop there—shop around with banks, credit unions, or online lenders to find the best rates. Remember that your loan terms can vary based on your credit score, so make sure you know where you stand before applying.
This step can oftentimes be intimidating and time-consuming as it requires filling out ample paperwork to compare rates from multiple banks. However, thoroughly researching loan rates could potentially save you thousands on your buyout.
Due to the potential savings, many drivers lean on a third party to negotiate with banks to help them see several options and guarantee that they're getting the best rate.
4. Contact Your Leasing Company
If you’ve decided to move forward with your lease buyout, contact the leasing company to let them know you want to buy out the lease. They’ll provide the final buyout amount, including any additional fees or taxes. Be sure to thoroughly look through and cautiously prepare your paperwork. You may even want to consider having a third party examine the agreement to ensure there aren't any surprises in your agreed-upon terms.
5. Finalize the Purchase
With financing secured and paperwork in order, you’ll pay the buyout price and take ownership of the vehicle. The leasing company will help transfer the title to your name, and you’ll need to handle registering the car through your state's DMV and updating your insurance with your insurance provider.
How Lease End Makes a Lease Buyout Easy
Now that we’ve covered the traditional steps, let’s talk about how Lease End simplifies the whole process. If you’re someone who wants to skip the stress of paperwork, multiple phone calls, and financing woes, Lease End is your answer. Here’s why:
1. We Shop for the Best Loan Deals for You
Instead of going bank-to-bank or lender-to-lender yourself, Lease End does all the hard work. We compare and show you loan offers from top lenders to make sure you’re getting the best rate possible. And unlike some dealerships, we don’t just push one option on you—we search broadly for the best deals available.
2. Clear, Transparent Pricing
Lease End prides itself on transparency. You’ll always know your buyout price and won’t be hit with any surprise fees. We’re here to help you save money, not create hidden costs.
3. Fast, Hassle-Free Process
Remember the multiple phone calls, paperwork, DMV visits and title transfers we mentioned earlier? Lease End takes care of all that for you. In fact, most of our customers secure their loan in under two days! You focus on driving your car, we’ll handle the admin.
4. No Stress, Just Support
Our team is here to guide you through every step of the process, answering any questions you have along the way. Our customer service team is always ready for a chat (and let’s be real, they live in Idaho, so you’ll probably make their day).
Conclusion: Lease Buyout with Lease End
A lease buyout can be a smart move if you love your car and want to keep it. The traditional process involves intensive research, securing financing, and dealing with paperwork.
But with Lease End, you can skip the hassle. We’ll find you the best loan, handle the details, and get you behind the wheel of your car permanently—all with transparency, speed, and support.
So, if you’re thinking of keeping your leased car, let Lease End help make it the easiest (and best) decision you’ve ever made!
About the author
Adam Broud
Adam Broud is a writer and comedian based out of Salt Lake City, Utah. As a professional stand-up comedian with an MBA, his writing uniquely blends the worlds of business and comedy. Adam's writing for ads and comedy has appeared in places such as Buzzfeed, Vanity Fair, your television, and his mom's box of keepsakes. Feel free to review his writing from any of those places, but just know it's kinda weird if you choose his mom's house.
Lease End's mission is to empower auto lease owners with the technology to easily exit their lease. If you'd like to learn more about the lease-end options available to you, please don't hesitate to contact us. Our expert advisors are always prepared to answer your questions and are committed to finding the right plan for your individual needs.
©2025 Lease End
©2025 Lease End
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