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Is it a good idea to buy out my lease with a loan?
I've grown attached to my leased Toyota and I'm thinking of keeping it. Should I purchase it by using a lease buyout loan?
Johnny Puckett · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Every lease is different. It really depends on the current value of the car and the pre-negotiated buyout price.
If the car is worth more than what it would cost for you to buy out the lease, you could actually end up making money by buying out the lease and then selling the vehicle to a private party later. Other factors to consider include any over-mileage fees, wear-and-tear fees, and buyout fees that you might have to pay.
“
View full answer
- Gregory R.
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