Understanding a Car Lease Buyout in Duluth, GA

May 20th, 2021 by

Value Your Trade - Duluth, GA

 

Are you near the end of your lease? Acura Carland wants to pay up to $1,000 more than your buyout!* But what exactly is a car lease buyout? Here’s everything you need to know.

 

What Is A Lease Buyout?

At the end of a vehicle lease, you typically have two options. You can return the car to the dealership. Or, if a buyout option is included in your lease agreement, you can purchase the car you’ve been leasing. If you want to buy the car, the price will be based on the car’s residual value, also known as the buyout amount or purchase option price. The residual value will be set at the original lease signing and based on a prediction of how much the vehicle will be worth at the end of the lease.

 

What Are My Payment Options?

As with any vehicle purchase, you can either buy the car outright or finance the purchase. At Acura Carland, our Finance Center provides financing for both new and used vehicles. 

 

Does It Make Sense To Buy Out My Lease?

Although you probably love driving your Acura, it doesn’t always make financial sense to buy out the lease. Because the residual value is set in advance, it might end up being higher or lower than the actual value of your car when the lease is over. A vehicle’s value depends on the condition of the car and how many miles you’ve put on it. It might make more sense to return your car to the dealership and lease or buy a new vehicle.

 

Find Your Car’s Value Today!

Are you near the end of your lease? When you’re deciding whether to return the vehicle or buy out your lease, remember, Acura Carland wants to pay up to $1,000 more than your buyout. Find your vehicle’s value with Carfax, then give our friendly Sales Team a call at (678) 820-4338. We’re open 9am-8pm, even on Memorial Day.

 

DISCLAIMERS

*No purchase necessary. Car value based on KBB fair trade-in market value. KBB offer appraisal must be exact description, condition and all body/frame repairs & reconditioning (past and needed) must be documented. In order to receive up to $1000 over your KBB trade value, the vehicle must have a perfect Carfax and Auto Check. Acura Carland has the right to refuse or deny the purchase of the vehicle when it is determined by the staff that the vehicle’s bid is not an exact match to the vehicle. Customer is responsible for any applicable charges after the vehicle inspection is complete. Vehicle lease turn-in must be through Acura Financial Services in order to qualify. Vehicles with extensive damage will not qualify. Vehicles that average more than 15,000 miles/year will not qualify. May be subject to credit approval. See dealer for additional details.

*info from https://www.creditkarma.com/auto/i/lease-buyout-what-to-know

Posted in Finance