Don't Just Hand Back the Keys
Should You Buy Your Leased Car? Check Your Equity First
Before you turn in a leased car, get your buyout price in writing and check what the car is worth. If it's worth more, that difference is your equity.
Key takeaways
- Ask your leasing company for your buyout price in writing before you turn the car in.
- Look up what your exact car is worth today, using more than one source.
- If the car is worth more than the buyout, the difference is your equity, and buying may be the better move.
Full transcript
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Hey, welcome to the Lease End Minute. I'm Joe from Champion Auto Finance.
Quick one today. If your lease is ending soon, don't just hand back the keys. First, call your leasing company and ask for your buyout price in writing. Then look up what your car is actually worth right now.
If it's worth more than the buyout, that difference is your equity, and buying the car may be the smarter move.
That's it. Check your numbers before you decide. Champion Auto Finance is not a lender, and approvals are subject to lender underwriting.
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Related guide
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. Episodes are written with AI assistance, reviewed by the Champion Auto Finance team, and voiced with an AI model of Joe's voice. Listener questions are composites based on the kinds of questions people ask us; names and details are changed.
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Keys or Keep · Ep. 1 Low Miles in Queens, High Miles in Houston, and Who Can Buy Your LeaseThree listener-style questions: a low-mileage lease that may be worth more than its buyout, a commuter 9,000 miles over, and whether you can buy your lease through your own lender.