How To Buy A Leased Car -

Call the financial institution that holds your lease (e.g., Honda Financial Services, Chase Auto).

Notify your insurance provider that you now own the vehicle. Your premiums might change slightly because you no longer need the specific "lessor" coverage requirements. Why Buy Your Lease? how to buy a leased car

This is the most common route, where you buy the car at the end of your lease term. The price is pre-determined in your original contract (the "residual value"). Call the financial institution that holds your lease (e

Having a loan ready gives you leverage and simplifies the process at the dealership. 4. Contact the Lessor Why Buy Your Lease

If the market value is higher than your residual value, you have "equity" and buying is a bargain. If the market value is lower , you might be better off turning the car in, as you’d be overpaying to keep it.

Look up your car’s current private-party and trade-in value on sites like Kelly Blue Book or Edmunds.