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What is a Lease Buyout

Woman Signing Papers in Front of Car

A lease buyout is an exciting option for Westbury drivers. When you opt for a lease buyout, you will acquire the vehicle you are currently leasing by buying it and becoming the official owner. You can do this at the natural end of your lease, or before. So how does a lease buyout work? Depending on the type, the specifics of your car lease buyout will differ. Below, the Rallye BMW finance department put together a guide to walk you through your options. Contact our finance team if you have any additional questions.

Lease-End Buyout

Most commonly, leasing drivers choose a lease-end buyout to take full ownership of the vehicle. If you opt for this method, the financing company will request you pay the vehicle’s worth at the end of the lease period. That amount, typically known as the buyout amount, purchase amount, or residual value, would have been predetermined when you originally signed your lease contract. If you loved your leased vehicle, kept it in optimal condition with recommended maintenance, and are comfortable because you know its history, a lease-end buyout may be your best option.

Early Lease Buyout

An early lease buyout is another option available to Syosset drivers. As the name implies, an early lease buyout allows you to buy your vehicle before the lease’s natural end. This method is useful for those buyers concerned about going over pre-set mileage limits, not going in for regular maintenance or extensive damages. The early lease buyout price varies based on the lease-end buyout amount on your original contract and whether you have positive or negative equity on the car.

Contact Our Finance Department for More Leasing Information

If you have any remaining questions about lease buyouts, please don’t hesitate to contact our expert finance team here at Rallye BMW. We are committed to getting Roslyn drivers on the road in a car they are proud of at a price they can afford, so be sure to check out our current leasing and financing offers. For those interested in leasing a new vehicle, we encourage you to stop in to browse our current new vehicle inventory.

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