How To Buy A Leased Car Link

This happens before your lease is up. It is more complex because you must pay the remaining lease payments plus the residual value. 2. Evaluate the Financials

Dealers may try to sell you extended warranties, GAP insurance, or "safety inspections." While an inspection is good, you are not obligated to buy their protection plans.

Ensure the price matches your buyout quote. Dealers sometimes try to add "documentation fees" that may be negotiable or unnecessary depending on your state. 6. Finalize Registration and Insurance how to buy a leased car

Check your contract for a "purchase option fee" (usually $300–$500) and remember you will have to pay sales tax and registration fees to the DMV. 3. Secure Financing

Once the lender receives the funds, they will send you the . This happens before your lease is up

Having a loan ready gives you leverage and simplifies the process at the dealership. 4. Contact the Lessor

This is a document stating the exact "payoff amount" required to own the car today, including taxes and fees. Evaluate the Financials Dealers may try to sell

You must take the title and your bill of sale to the DMV to register the car in your name and pay the sales tax (unless the dealer handled this).