What is a Lease Buyout?

Do you like your car, but you’re ready to end the lease on it? You’ll be glad to know that in many cases you can negotiate an auto lease buyout, just as many of our Westport customers have done. What is a lease buyout? That is when you buy the car that you are currently leasing. Mercedes-Benz of Fairfield wants your lease-end buyout negotiation to go smoothly, so let’s talk about how to negotiate one that works for you.

Two Ways to Do a Lease End Buyout

What is a lease buyout, exactly? There are two ways to do an auto lease buyout: lease-end buyouts and early lease buyouts. Here are the details:

• Lease-end buyout. This happens at the end of your lease. The terms of this auto lease buyout are usually spelled out in your lease agreement. But in some cases, you can still negotiate the price.
• Early lease buyout. You can negotiate a lease buyout before the end of your lease, in many cases. How does a lease buyout work in this case? You will need to do your research in order to get favorable terms. But this option can save money for many Norwalk drivers.

How Does a Lease Buyout Work?

What is a lease buyout if you don’t do your homework? Potentially a bad deal for you. To get a good deal, you want to be able to show that you could purchase your vehicle at a dealership for less than the lease agreement’s purchase price. If you can do that, call the financing institution that holds your lease and make an offer for less than what you owe. Most lenders would rather sell the car to you at a lower price than risk you walking away from the lease.

Talk to the Finance Team at Mercedes-Benz of Fairfield of Fairfield

Our finance managers are also leasing experts and can walk you through all of your lease options. In fact, you should take a look at our lease specials. If you’re thinking about buying, and are open to buying a vehicle other than the one you are currently leasing, check out ournew vehicle specials. We’re just a short drive away from Weston, so come by orcontact us today!