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How to buy your leased car Form: What You Should Know

Lease Buyout: 5 Steps (Without Pictures) — Bankrate.com Buy it outright? Then there are some things to consider first. Your lease will typically require you to keep your mileage under 15,000 miles per year. (But if the lease is for 30,000 miles or fewer, there should probably be no fee.) You might also need insurance for your car, something that you'll be required to purchase at the same time (and that you're not responsible for under your lease). To make an estimated car payment, you'll have to factor in the cost of the car as well as any extra annual fees you're required to pay over the lifespan of the loan. If your lease contract provides a trade in value feature for your car, you will have to keep it in good condition to trade in the next time your lease expires. The leasing company will reimburse you for depreciation costs and will usually require this mileage to count toward your trade in value. How to Buy a Leased Car: 12 Ways You Can Buy Out Your Car Lease — FastCashMoneyTips.com If the lease doesn't have a trade in value feature or if your car has a value less than what you paid for it, you must take it to the dealer. The mileage is also going to be factored into the value of the car. If you choose to buy the car outright, you will be required to pay a deposit, which will be refunded when you pay off the loan. If you take your car in for a prepayment or trade-in, you will need to pay for the car. When the loan is paid, you will also receive a credit for your trade in value and any residual value. Note: If you're leasing a car through an auto leasing office such as AAA, your mileage won't count toward meeting the 15,000/year mileage requirement. Leasing Buyout: 5 Tips On Buying Your Leased Car — Bank rate 2. Be prepared for your payment to go beyond your car's asking price. If you're shopping around for a new car and your old car has enough residual value to buy you something else outright, you'll want to make sure of at least the following: The lease will require your car be kept in good condition A trade-in value of at least 15,000 miles or fewer 2. Leasing Buyout: 12 Ways you can Buy out your Car Lease — FastCashMoneyTips.

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