We have plenty of inventory on the way! Stop in or call us to find your perfect INFINITI.
If you’re leasing your current ride, you have two options once your lease term is up: you can either return the vehicle to the dealership and settle any remaining fees, or you can negotiate a car lease buyout.
What is a lease buyout? The simplest lease buyout definition is: when a dealership allows you to purchase a vehicle at or before the end of a lease contract by paying the remaining value. Because there are two different types of car lease buyout options to choose from, it’s important to understand what you have access to. Keep reading to learn more about the car lease buyout process with the finance team at INFINITI of Warwick.
A lease-end buyout is the most common option and it entails you paying what the vehicle is expected to be worth by the end of the lease period. Typically, this price is agreed upon prior to you signing the lease agreement. Providence drivers should opt for a lease-end buyout if:
Another perk of a lease-buyout is that you’ll already be aware of the condition and the history of the vehicle–unlike with purchasing a different used car.
Coventry drivers who opt for an early lease buyout are purchasing the vehicle prior to the end of the lease contract. However, not all lease contracts permit early buyouts, so be sure to check beforehand if this is an option for you. Before you commit to an early lease buyout, it’s important to determine if it’s worth the long-term investment to buy vs. lease your vehicle. You’ll want to keep in mind the vehicle’s history. Near the end of the lease, the price is determined by:
Keep in mind that If the value of the automobile is below market value, you might have to pay the difference. More often than not, buyers consider the form of lease buyout when they’re concerned about lease penalties such as exceeding mileage limits, not keeping up with scheduled services, or damages to the vehicle.
If you intend on owning your vehicle at the end of your lease term, how does a lease buyout work? Here are some steps that you can take to initiate the process:
Now that you know the basics of how a lease buyout works, you can choose the option that best fits your finances and driving goals. If you have any additional questions, reach out to us today for assistance!
When you’re in search of a sleek and sporty sedan, there are few that can match the INFINITI Q50. In addition to providing top-tier performance specs, the 2022 INFINITI Q50 color options for the exterior and interior add another layer of head-turning style to this luxurious sedan. Read on with INFINITI of Warwick as we cover the…
The new INFINITI QX50 offers state-of-the-art features and luxurious design elements that will forever enhance your Providence travels. From intricately-designed leather seating and ambient lighting to sliding and reclining second-row seats, the interior of the five-passenger INFINITI QX50 is crafted to prioritize your comfort and convenience. Keep reading with INFINITI of Warwick as we disclose the…
The 2022 INFINITI QX80 is a favorite among Providence drivers, and the beautifully designed QX80 interior is a major reason why! As you explore INFINITI QX80 interior pictures, you’ll find that this SUV’s cabin is the perfect balance of function and luxury. Equipped with state-of-the-art comfort and convenience features and offering spacious seating, you and…