Buying gone a vehivle let method you pay for your leased machine either after the let expires or before (an early buyout).
Instructions
Purchase a Car at Lease-End
1. Check the Kelley Blue Book to determine the market value of the car (see Resources below).
You can either pament off the let with cash or bias a machine loan to finance the buyout. The leading intention to acquire away a vehivle charter is over you understand your automobile is in agreeable shape and you appetite to carry it longer than the lease term. Another reason is to avoid steep penalties from excessive mileage or wear and tear on the car.
If the market value is equal to or more than the residual value for your car, it makes sense to buy it after the lease expires.
2. Talk to your dealer or leasing company about the buyout options and negotiate a fair price for the car.
3. Secure financing for your car loan or pay cash. Don't be afraid To seek a car loan outside of a dealership. This can often save you money.
Buy out a Car Lease Early
4. Contact the lender to find out what the current buyout price is.
5. Purchase a car loan to finance the buyout amount if you don't have the cash on hand. Your dealer may be able to offer you a loan, but you should shop around to find the best deal.
6. Get your new lender to write a check to the old lease company for the amount you need to buy out the car.
