How to Buyout your Lease

  1. Research Center
  2. /
  3. Car Leasing Research Articles
  4. /
  5. How to Buyout your Lease Car
Love at First Drive
A lease buyout, also known as a purchase option, lets you purchase your lease car instead of returning it at the end of the lease. If this is of interest to you, check your lease contract and look for details on the purchase option. But before you get excited about buying your lease car, let's consider all the factors at play. The most important factor involves all the costs that come with a lease buyout. It is important to compare what you'll pay to buy your lease car out rather than just turning it in and leasing another car or buying a used car.

It is possible that buying the lease car will cost you more than the car is worth. There are several reasons why this could happen. Higher than normal mileage on the car can affect its value as can any unusual wear and tear including dents and dings, damage to the paint or torn upholstery. In such cases, it is sometimes cheaper to just turn in the car at the end of the lease. On the positive side, assuming you aren't overpaying for the vehicle, if you really like the car and want to keep it, buying it from the leasing company is a fairly simple proposition. Plus, you don't have to go shopping for another car and you already know the history of your lease car, when it was serviced, and how it was driven.