Call the Leasing Company First
Lease Buyout Questions? Call Your Leasing Company First
The leasing company owns the car and sets the buyout rules. Why your first call should go to them, not the dealer.
Key takeaways
- The leasing company is the name on your statement.
- Ask for the payoff, whether you can buy directly, and the paperwork.
- Go to the source before the dealership.
Full transcript
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This is the Lease End Minute. I'm Joe from Champion Auto Finance.
Here's a tip that saves people a lot of runaround. When you have a question about buying your leased car, call the leasing company, not the dealership.
The leasing company is the name on your monthly statement. They own the car, and they set the buyout rules. Ask them for your payoff in writing, whether you can buy the car directly, and what paperwork they need.
A dealer can be helpful, but they may not know your contract's details, and they might be selling you something too. Go to the source first.
Champion Auto Finance is not a lender. Approvals and terms are subject to lender underwriting.
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Champion Auto Finance
Thinking about buying out your lease? Learn more and get started at championautofinance.com.
Champion Auto Finance is a NJ DOBI-licensed financing partner, not a lender, coordinating lease buyout financing for drivers nationwide. Approvals and terms are subject to lender underwriting. Nothing on this site or in these episodes is legal, tax or financial advice.
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