Don't assume the dealership offers the best interest rates. Shop around at credit unions or local banks for a "lease buyout loan." Having a pre-approved loan gives you leverage and ensures you aren't overpaying on interest. Negotiate the Fees
Buying your leased car, also known as a lease buyout, is often a smart financial move if the vehicle’s market value is higher than the predetermined purchase price in your contract. Know Your Numbers best way to buy your leased car
💡 If you don't want to keep the car but it has high equity, you can still buy it and immediately sell it to a third party or use it as a trade-in to pocket the profit. Don't assume the dealership offers the best interest rates
Before contacting the dealership, locate your original lease agreement. Find the , which is the fixed price you agreed to pay for the car at the end of the lease. Compare this number to the current market value using tools like Kelly Blue Book or Edmunds. If the car is worth more than the residual value, you have "equity" and should consider buying. Timing the Purchase You typically have two options for timing: Know Your Numbers 💡 If you don't want