What Is a Lease Buyout?
What happens if you lease your Acura vehicle, but decide you’d like to buy rather than return it to the dealership at the end of your lease term? Many Las Vegas car buyers ask us if it’s possible to “buy out” a lease. Simply put, it’s a way to turn your lease deal into a financing deal. You have two car lease buyout options: lease-end or early lease buyout. So how does a lease buyout work when it comes to your Acura vehicle? Read the guide below for detailed lease-end and early lease buyout definitions from the Findlay Acura auto finance experts.
Lease-End Buyout Definition
What is a lease buyout called when you wait till the end of your lease term before buying out? That’s a lease-end buyout, and it’s the most common car lease buyout choice among North Las Vegas drivers. Consider a lease-end buyout if the following apply to you:
- You secure a good interest rate to finance your buyout.
- Repair costs over the course of your lease period are minimal.
- You like knowing everything there is to know about your car’s maintenance history.
- You love driving your leased Acura — and there’s no other similarly-priced vehicle you’d rather be driving!
Early Lease Buyout Definition
How does a lease buyout work if you want to buy out the lease before the term has expired? This less-common car lease buyout option may be the better choice for certain Mesquite drivers. If you’re concerned about penalties for excessive mileage, damage to the vehicle, or other broken lease terms, early lease buyout can save you money. Buyout price for your Acura vehicle is determined by a variety of factors, including:
- The amount still owed on the original lease.
- The lease-end residual value on your original contract.
- How much your vehicle has depreciated in value due to damage and repairs.
Rely on Findlay Acura for Fair Leasing and Financing in Henderson
The car-buying process can be complicated, so we hope our lease buyout definitions make it a little easier! The team at Findlay Acura is committed to helping you find a lease or finance solution — whether you’re working with great, bad, or even no credit. Find an Acura special offer on a model in our inventory, and then contact us to learn more!
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