How Does a Lease Buyout Work at Atlantic Volkswagen

Leasing vehicles has become one of the most convenient ways that new car shoppers can upgrade vehicles while trying to save money. It’s not just standard vehicles either. Leasing allows you to upgrade to higher-end trim levels which normally are out of reach for many customers. But, there are more beneficial options for you when you decide to do a car lease buyout. 

But many people don’t know, “what is a lease buyout” or even how it works. When our Millville ask us, how does a lease buyout work, we tell them that it’s when you finance a lease vehicle after or before the lease deal shortly ends. If you’re interested in learning about a car lease buyout, use this guide to find out how to do it and its benefits. Also, if you’re looking for a new vehicle and want to get a great deal on it, reach out to our finance center to see what’s available for you! Apply for financing today!

How Does a Lease Buyout Work?

Car lease buyouts are perfect if you want to transition from leasing a vehicle to now owning one. The steps are simple and they can be done with the financing department. If you want to how a lease buyout works, perform the following:

• Speak to your leasing institution. When you’re nearing the end of your lease, reach out to the institution you’re leasing with to inquire about your options. They can tell you more about how a car lease buyout works with them, including whether there are any fees associated with facilitating a buyout. 
• If you’ll be financing the buyout, apply for pre-approval. Some Wildwood drivers choose to pay for their car lease buyout in full if they’ve been saving for it, but there are also car lease buyout loans available. If you plan to finance your lease buyout, now is a good time to apply for pre-approval with a few lenders to see how you qualify. Often, you can secure financing through the same dealership you had your lease with, but you can explore your own options, too.
• Negotiate and finalize the buyout. There may be room to negotiate your car lease buyout down to a lower price. Once you’ve settled on a price you feel comfortable with and secured your financing, all that’s left to do is finalize the buyout! 

Visit us at Atlantic Volkswagen Today!

If you’re interested in continuing with a car lease buyout, come by our Wildwood-area dealership and we’ll help you through the process. Contact or visit us at our Egg Harbor Township dealership today!