What is a Lease Buyout?

Leasing a car is a smart way to access the latest tech and safety features — and pay less every month. Many Elmhurst drivers choose to lease another vehicle when their lease term ends, but what if you love your leased INFINITI and don’t want to give it up? You can “buy out” your leased vehicle for a predetermined price, or even negotiate with your dealership for a lower price. How does a lease buyout work if you haven’t reached the end of the lease term? In the guide below from INFINITI of Clarendon Hills, we’ll look at lease-end and early lease buyout options in detail so you can decide which is best for you.

Lease-End Buyout

If you’re looking for a lease buyout definition, keep in mind that there are two main approaches: early lease buyout and lease-end buyout. In a lease-end buyout, you purchase the vehicle when the lease term expires. Most Downers Grove drivers choose this option, and it may be the right car lease buyout plan for you if:

• You’ve secured a low interest rate to finance your buyout.
• Your vehicle has required minimal repairs over the course of the lease term.
• You appreciate knowing everything about your car’s maintenance and service history.
• You enjoy driving your leased INFINITI, and there’s no other similarly-priced vehicle you’d rather drive.

Early Lease Buyout

How does a lease buyout work if you know you want to buy your leased vehicle but are still months away from the end of your lease term? Early car lease buyout is less common than lease-end, but it’s a great choice if you’re worried about penalties for excessive mileage, vehicle damage, or other broken lease terms. What is lease buyout value determined by for drivers in Westmont? Buyout price for your INFINITI model is calculated from a number of factors, including:

• The amount you still owe on your original lease.
• The lease-end residual vehicle value on your original contract.
• The amount of value depreciation for your vehicle due to damage and repairs.

Lease or Finance an INFINITI Vehicle in Clarendon Hills

Buying a car is far from simple, but we hope our lease buyout definitions make it a little easier. Still unsure about what a lease buyout is compared to financing a new car, ways to improve your credit score, or the pros and cons of leasing. The team of auto finance experts at INFINITI of Clarendon Hills are here to help you navigate topics like leasing, refinancing a car loan, and whether to add GAP insurance to your coverage.