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What is the ‘lease buyout’ definition? A lease buyout is when a dealership allows you to purchase the vehicle you are leasing before the end of the lease contract. There are two different types of buyout options to choose from, so take a look below at which option works best for your needs, and reach out to the Jaguar Chandler finance center near Phoenix when you are ready to buy out your lease or talk more about auto loans and leases.
How does a lease-end buyout work? A lease-end buyout is the most common option. It requires you to pay what the vehicle is expected to be worth by the end of the lease period. Normally, this price point is agreed upon before you sign the lease agreement. This choice is a good deal if:
Another perk is knowing the condition and history of the vehicle you’ve been leasing, unlike when purchasing a different used car. If you’ll need to secure financing in order to purchase your vehicle, find the best place to get a car loan with our team.
Interested in learning more about your lease-end options? Find out what to expect when you visit our Jaguar lease return center in Chandler.
An early lease buyout means you can purchase your vehicle before the end of the lease, but not all lease contracts have this option–check the lease terms beforehand. You’ll also want to be sure your buying your leased car under this method is worth the long term investment. With this, keep in mind the history of the vehicle. Near the end of the lease, the price is determined by:
Most times, buyers consider this buyout when concerned about lease penalties like going over mileage, not maintaining scheduled services, or damages to the interior or exterior of the vehicle.
Assess your lease terms, car loan, the wear and tear, and purchase price to see if this investment is worth it for you. If you have any questions about how to buy a car, or want more car buying tips in Tempe, feel free to contact us! You can also use our loan calculator tool to see how much you would owe on your next purchase!
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