iLendingDIRECT has a solution that will work for you and your financial situation.
We love to lease our cars. While there are several reasons you may want to keep your leased vehicle, one of the most likely situations is that you’ve driven over your allotted miles and don’t want to pay the thousands of dollars due at the end of your lease. Or, you might love everything about your vehicle and want to keep it and avoid any penalties
Whatever the reason, iLendingDirect will get you the financing you need to buyout the lease on your car, truck or van.
There are two kinds of car lease buyouts or payoffs:
- Lease-end Buyout or Lease Payoff – This is where you purchase your vehicle at the end of your lease from the leasing company, either with cash or a loan, for the guaranteed purchase price specified in your auto lease contract.
- Early Buyout or Early Payoff – This is where the leasing company allows you to purchase your vehicle before the end of your lease. Most auto lease contracts allow this option.
When should you exercise a buyout or payoff for your auto lease?
If you’ve exceeded your mileage limits, or have excessive wear or damages, and you want to avoid associated penalties, you may want to consider an early buyout.
Most auto leases provide you with the option to buy your vehicle prior to or at the end of your lease. You need to be sure to read your lease contract to determine if you have any restrictions during the lease in which you may or may not exercise your purchase options.
Our expert loan consultants will help you understand the best option for your situation—they will take you through the steps for the buyout of your current auto lease. They can also guide you with assuming your auto lease. Ask us your questions by filling out our contact form or calling (866) 683-5505.