: A buyout often makes the most sense if the car's current market value is higher than the buyout price set in your contract.
: You can pay for the buyout in cash or apply for a lease buyout loan through the dealership, your bank, or a credit union.
If you're considering this, check your lease agreement for the specific and any associated purchase option fees. A Step-by-Step Guide to Auto Lease Buyout Loans
: Buying your leased car allows you to avoid potential end-of-lease fees, such as charges for excess mileage or wear and tear.
: The cost is typically based on the residual value —the car's estimated worth at the end of the lease—which was predetermined and listed in your original contract.
