The Purchase Option Fee
Lease Purchase Option Fee: What It Is and How to Plan for It
A small line on your lease that people skip: the fee many leases charge if you buy the car, and how to plan for it.
Key takeaways
- Many leases charge a fee to buy the car, set in the contract.
- It's separate from the residual value.
- Ask for it on your payoff quote so you compare the full number.
Full transcript
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This is the Lease End Minute. I'm Joe from Champion Auto Finance.
Let's talk about a small line on your lease contract that people skip: the purchase option fee.
Many leases charge a fee if you decide to buy the car. It's set in your contract, it's separate from the residual value, and it gets added to your buyout price.
You usually can't negotiate it, but you can plan for it. Find it in your contract, or ask your leasing company to list it on your payoff quote, so the number you compare against the car's value is the full number, fee included.
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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