What is a lease buyout, and how does a lease buyout work? We get these questions a lot from Greenwich drivers who are exploring their Jaguar lease options. Usually written into a lease, a car lease buyout allows drivers to buy their vehicle at the end of the lease term. Jaguar Darien has more information on the most common lease buyout definitions below! Check out our Jaguar lease specials for affordable car leases on luxury vehicles.
Car leasing is a great option, even for those with less-than-ideal credit scores. It’s also a good way to ‘try before you buy’, since you can buy out the lease and bring the vehicle home at the end of your term.
The value of the vehicle at the end of the lease is usually estimated when you first sign your lease contract, but negotiation is possible in some cases. New Canaan drivers should choose this form of car lease buyout if:
If you’re trying to decide between a buyout and another lease, make sure to explore our Jaguar SUV lease deals before you make a final decision!
How does a lease buyout work if you want to buy the vehicle before the end of the lease? This is a much less common option and is even explicitly prohibited by some lease contracts, even those where you lease a used car. In this version of a car lease buyout, the value of the vehicle is determined differently. Each of the following will be factored in:
That final note about depreciation is important, because the most common reason Stamford drivers choose this option is when the fees associated with a lease return are too high, thanks to repair and maintenance issues.
As you can see, while the lease buyout process can seem confusing, it doesn’t have to be with the right people to help you out. We offer a wide range of lease deals and we host our own lease return center, so we’re ready to help you get behind the wheel of any car that’s caught your eye. Contact us today to explore your car lease options with us!