Inspect Before You Buy
Should You Inspect a Leased Car Before Buying It Out?
Once you buy out your lease, you own a used car. Why an independent inspection first is worth it.
Key takeaways
- After a buyout, repairs are on you.
- An independent mechanic can spot what you've learned to live with.
- Add repair costs to the buyout before comparing.
Full transcript
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This is the Lease End Minute. I'm Joe from Champion Auto Finance.
Before you buy out your lease, consider getting the car inspected.
It sounds strange, since you've been driving it. But once you buy it, you're the owner of a used car, and any future repairs are on you. An independent mechanic can check brakes, tires, suspension, leaks and warning signs you've learned to live with.
If it needs work, that's not necessarily a deal breaker. It's just part of the math. Add the repair cost to your buyout price and compare that total to what the car is worth.
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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The Lease End Minute · Ep. 15 What Lenders Look AtFinancing a lease buyout? The three things lenders usually weigh, and what to do before you apply.
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The Lease End Minute · Ep. 14 Title and Registration After a Buyout
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